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The Power of Co-Creation

Build It with Them to Boost Growth, Productivity, and Profits

About The Book

A groundbreaking guide to a set of transformative new ways to harness technologies in order to open up your company and involve consumers in “co-creating” your business, from product development, to brand building and the crafting of new services.

Apple embraced co-creation to enhance the speed and scope of its innovation, generat­ing over $1 billion for its App-Store partner-developers in two years, even as it overtook Microsoft in market value. Starbucks launched its online platform MyStarbucksIdea.com to tap into ideas from customers and turbocharged a turnaround. Unilever turned to co-creation for redesigning prod­uct lines such as Sunsilk shampoo and revitalized growth. Nike achieved remarkable success with its Nike+ co-creation initiative, which enables a com­munity of over a million runners to interact with one another and the company, increasing its market share by 10 percent in the first year.

Co-creation involves redefining the way organizations engage individuals—customers, employees, suppliers, partners, and other stake­holders—bringing them into the process of value creation and engaging them in enriched experi­ences, in order to:
—formulate new breakthrough strategies
—design compelling new products and services
—transform management processes
—lower risks and costs
—increase market share, loyalty, and returns

In this pathbreaking book, Venkat Ramaswamy (who coined the term co-creation with C. K. Prahalad) and Francis Gouillart, pioneers in working with com­panies to develop co-creation practices, show how every organization—from large corporation to small firm, and government agency to not-for-profit—can achieve “win more–win more” results with these methods. Based on extraordinary research and the authors’ hands-on experiences with successful projects in co-creation at dozens of the world’s most exciting organizations, The Power of Co-Creation illustrates with detailed examples from leading firms such as those above, as well as from Cisco, GlaxoSmithKline, Ama­zon, Jabil, Predica, Wacoal, Caja Navarra, and many others, how enterprises have used a wide range of “engagement platforms”—and how they have even restructured internal management processes—in order to harness the power of co-creation.

About The Authors

Steve Kuzma

Venkat Ramaswamy is the Hallman Fellow of Electronic Business and Professor of Marketing at the Ross School of Business, University of Michigan, Ann Arbor. He is a globally recognized thought leader, idea practitioner, and an eclectic scholar with wide-ranging interests in innovation, strategy, marketing, branding, IT, operations, and the human side of the organization. His award-winning book, The Future of Competition: Co-Creating Unique Value With Customers (with C. K. Prahalad), introduced co-creation as a revolutionary business concept. 
 

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Francis Gouillart is president and cofounder of the Experience Co-Creation Partnership (ECC Partnership), a consulting firm that helps client companies build co-creative management and organizational capabilities. He is an authoritative figure in the consulting world and, prior to joining Venkat Ramaswamy in cofounding ECC Partnership, was closely associated with the theoretical development and consulting-based implementation of major business methodologies, including Blue Ocean Strategy/Value Innovation and the Balanced Scorecard. He previously co-authored the bestselling book Transforming the Organization (with James Kelly).

Product Details

  • Publisher: Free Press (April 18, 2020)
  • Length: 288 pages
  • ISBN13: 9781439181058

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