A valuable (…) book, which has open innovation written all over it, but just doesn’t say the word(s). The authors describes how the traditional theory of firm has changed into a new reality. A new model for value creation, which happens at the boundaries of the firm. Well informed customers, users and partners cocreate with the firm, to create new value for themselves and the whole value chain. The market is no longer outside the valuesystem, but intertwined with it.
Cocreation requires new capacities of the firm. Management must seek new ways of access and appropriation of value, without ownership. Building blocks in the process e.g. are constant dialogue, transparency, risk assessment, agility. The network of experiences are an integral part of the product experience.
The book makes you think where the real value of a firm lies, and hence what values can easily be freely revealed. I appreciated the “Strategy has become like efficiently navigation in the fog.” I concur. A good (re)read. Prahalad is still in my top three of business gurus....Continua