How Enterprises Can Drive New Value Creation
Strategic Finance › Vol. 92 Nbr. 4, October 2010
Linked as:
Summary
In an interview, Venkat Ramaswamy, professor, University of Michigan Ross School of Business, and author, The Power of Co-Creation, talked about co-creation thinking. Co-creation is about moving away from a "firm-centric" process of creating value to engaging all stakeholders (internal and external) in creating mutual value together through their experiences. By doing so, companies can generate new insights that can help enterprises to reduce risks, increase productivity, generate growth, and increase returns. On the capabilities companies need to implement co-creation successfully, Ramaswamy said for starters, companies need to build "engagement platforms." What's key is to focus on the experiences of individuals and the context of their interactions that generate those experiences. The co-creative enterprise is an enterprise that engages all stakeholders in managing risk and returns through co-creation. In fact, Ramaswamy believes that building such a co-creative enterprise is the key to managing risks and enhancing returns in the future.
See the full content of this document
Extract
How Enterprises Can Drive New Value Creation
In today's business landscape, companies are challenged to find new pathways to create shareholder value and to boost growth, productivity, and profits. CFOs can play a vital role in this area. This month's column features an interview with Venkat Ramaswamy, a professor at the University of Michigan Ross School of Business and author of The Power of Co- Creation (with Francis Gouillart, Free Press, October 2010). Venkat is known for introducing the revolutionary concept of co-creation together with coauthor C. K. Prahalad in their awa...
See the full content of this document
(Copyright 2011)
Provided by ProQuest LLC. All Rights Reserved.
Content not included in vLex Global Academic product.
Sponsored links
