The Future Of Competition.

Ck Prahalad & Venkat Ramaswamy



A new paradigm of value creation Consumers have greater product variety today than ever, yet they are less satisfied. Top management has more strategic options, yet they deliver less value. What do these paradoxes suggest about the future of competition? C.K. Prahalad, co-author of the landmark bestseller Competing for the Future, and Venkat Ramaswamy argue that we are on the cusp of a very different world??"one in which the distinct roles of firm and consumer converge and the sources of value creation change dramatically.

Prahalad and Ramaswamy show that the traditional, firm-centric view of value creation is being challenged by active, connected, and informed consumers??"coupled with the mingling of technologies and industries. No longer does value lie in products and services created by firms and delivered to customers. Increasingly, say the authors, value is being jointly created by the consumer and the company.

In this framework, consumer??"company interactions and personalized co-creation experiences??"enabled by technical and social infrastructures??"allow each consumer to co-create unique value with a network of companies and consumer communities. To compete effectively, CEOs and senior managers must focus on building new strategic capital. This involves enabling managers to enhance their effectiveness by experiencing the business as consumers do. This book sets the agenda for top management for co-creating the future, by revealing unprecedented opportunities for value creation and innovation.

What will you learn from this book

  1. Co-Creation: The authors argue that value is increasingly co-created by companies and customers together, rather than being delivered by companies to customers.

  2. Customer-Centricity: Companies should shift their focus from selling products to creating compelling customer experiences that add value and differentiate them from competitors.

  3. Innovation: The book emphasizes the importance of continuous innovation in creating new value propositions for customers.

  4. Globalization: Globalization is changing the competitive landscape, requiring companies to think globally and act locally to meet diverse customer needs.

  5. Technology: Technology, particularly digital technology, is a key enabler of co-creation and customer-centricity, allowing companies to connect with customers in new ways.

  6. Strategic Flexibility: Companies should be strategically flexible and agile, able to adapt quickly to changing market conditions and customer preferences.

  7. Organizational Transformation: Achieving the future of competition requires a fundamental transformation of organizations, including changes in culture, structure, and processes.

  8. Collaboration: Collaboration with customers, partners, and even competitors can create new opportunities and drive innovation.

  9. Sustainability: The book highlights the importance of sustainability in business, both in terms of environmental sustainability and social responsibility.

  10. Leadership: Successful companies in the future will be led by visionary leaders who can inspire and motivate their organizations to embrace change and innovation.

Language English
ISBN-10 0143061909
ISBN-13 9780143061908
No of pages 256
Font Size Medium
Book Publisher Harvard Business School Publishing
Published Date 15 Apr 2006

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