Apple embraced co-creation to enhance the speed and scope of its innovation, generatAsing 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 prodAsuct lines such as Sunsilk shampoo and revitalized growth. Nike achieved remarkable success with its Nike+ co-creation initiative, which enables a comAsmunity 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 individualsacustomers, employees, suppliers, partners, and other stakeAsholdersabringing them into the process of value creation and engaging them in enriched experiAsences, in order to aformulate new breakthrough strategies adesign compelling new products and services atransform management processes alower risks and costs aincrease 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 comAspanies to develop co-creation practices, show how every organizationafrom large corporation to small firm, and government agency to not-for-profitacan achieve awin moreawin morea results with these methods. Based on extraordinary research and the authorsa hands-on experiences with successful projects in co-creation at dozens of the worldas 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, AmaAszon, Jabil, Predica, Wacoal, Caja Navarra, and many others, how enterprises have used a wide range of aengagement platformsaaand how they have even restructured internal management processesain order to harness the power of co-creation. As the authorsa wealth of examples make vividly clear, enterprises can no longer afford to view customAsers and other stakeholders as passive recipients of their products and services but must learn to engage them in defining and delivering enhanced value. Co-creation goes beyond the conventional aprocess viewa of qualAsity, re-engineering, and lean thinking, and is the essential new mind-set and practice for boosting susAstainable growth, productivity, and profits in the future.In early 2009, Starbucks launched a aPledge5a initiative to get people to donate five hours each to community service, toward a total of 1 million hours. Yet another company website (pledge5 .starbucks.com) makes it easy to find volunteeranbsp;...
|Title||:||The Power of Co-Creation|
|Author||:||Venkat Ramaswamy, Francis J. Gouillart|
|Publisher||:||Simon and Schuster - 2010-10-05|