23rd July 2008

Co-creativity through global networks

posted in Business |

Am reading an interesting book, “The new age of innovation” by CK Prahalad and MS Krishnan. Prahalad was named “The world’s most influential management thinker” in 2007 by the Times of London. 

The book cites driving co-creativity through global networks as the new global standard for innovation & corporate growth. The 2 basic pillars in this transformation of biz are:   

  1. Value based on unique, personalized experiences of consumers, designated as N=1 (one consumer experience at a time). This is not to be confused with vendors offering customized solutions or multiple options. This is working together with the customer in providing him a solution tailored for him. The focus is on the centrality of the individual.   

  2. This is R=G pillar where R is the resources from multiple vendors and G is the global resources. As no single firm is, and will be, able to satisfy the experiences of 1 consumer at a time, all firms will access resources from a wider pool – the global ecosystem. 

Interesting examples cited not only drive home the point but it also gives pointers on building up for such a transformation.   

 

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