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Research ECC Partnership consulting cases:
Experience co-creation examples:
Selected Events Co-Creating Experiences with Clients, March 4-5, 2008, Mexico City – Francis Gouillart and Venkat Ramaswamy led the conference.
European Co-Creation Forum, March 12–13, Madrid – Francis Gouillart and Venkat Ramaswamy led the conference, with contributions from David Butter.
SAP's CEO event: Growth Through Collaboration: Transforming the Business Network, April 3–4, Frankfurt – Venkat Ramaswamy was a workgroup chair.
The Organization Design Forum's 2008 Annual Conference: Designing for Impact: Our Changing Organizations, Community and World, April 22–24, Philadelphia – Francis Gouillart was a keynote speaker.
Marketing Science Institute conference: Innovation and Co-Creation, June 16–18, Seattle – Venkat Ramaswamy was a keynote speaker.
Palladium Group European Innovation Movement Symposium, Oct. 6–7, Madrid – Venkat Ramaswamy and Francis Gouillart headlined this conference on new models of innovation.
Strategic Account Management Association, Oct. 15 – Francis Gouillart presented a webinar on "Co-Creation Mapping: Unleashing Strategic Account Management Across the Value Chain."
Deloitte France Co-Creation Conference, Nov. 12, Paris – Venkat Ramaswamy and Francis Gouillart headlined this event at L’Echangeur.
Symnetics Andina Strategy and Execution Forum, Nov. 18, Bogota, Colombia – Venkat Ramaswamy gave a keynote presentation on co-creation.
Knowita Strategy, Marketing, and Innovation Conference, Dec. 2, Milan – Venkat Ramaswamy will give a keynote presentation on co-creation.
Babson 2.0 Innovation Summit, March 17–18, Wellesley, Mass. – Francis Gouillart will lead a workshop on co-creation, offering attendees a hands-on experience and the analytical process for uncovering co-creation opportunities
A comprehensive list of Venkat Ramaswamy’s speaking engagements.
Publications
"Co-Creating Strategy with Experience Co-Creation" by Venkat
Ramaswamy and Francis Gouillart Experience Co-Creation (ECC) is a new paradigm of strategy innovation. It's about how companies can innovate compelling value propositions by co-creating strategy with their customer-facing employees and their customers. — From the publisher
The interactive
space between a firm and its customers has the potential
to create business value. The basis of value for each customer shifts
from a physical product to the total co-creation experience. Prof.
Venkat Ramaswamy of the University of Michigan builds a compelling
case for building experience co-creation platforms.
C. K. Prahalad and Venkat Ramaswamy explore
why, despite unbounded opportunities for innovation, companies still
can’t satisfy customers and sustain profitable growth. The explanation
for this apparent paradox lies in recognizing the structural changes
brought about by the convergence of industries and technologies; ubiquitous
connectivity and globalization; and, as a consequence, the evolving role
of the consumer from passive recipient to active co-creator of value.
Managers need a new framework for value creation. Increasingly, individual
customers interact with a network of firms and consumer communities to
co-create value. No longer can firms autonomously create value. Neither
is value embedded in products and services per se. Products are but an
artifact around which compelling individual experiences are created.
As a result, the focus of innovation will shift from products and services
to experience environments that individuals can interact with to co-construct
their own experiences. These personalized co-creation experiences are
the source of unique value for consumers and companies alike. In this
emerging opportunity space, companies must build new strategic capital – a
new theory on how to compete. This book presents a detailed view of the
new functional, organizational, infrastructure, and governance capabilities
that will be required for competing on experiences and co-creating unique
value.
Value creation, the central focus of managerial activity, is undergoing
rapid change. The dominant,
As competition intensifies and profit margins shrink, managers are
under
overwhelming pressure
Companies spent the 20th century managing efficiencies. They must spend
the 21st century managing experiences. For more than 100 years, a company-centric, efficiency-driven view of
value creation has shaped our industrial infrastructure and the entire
business system. Although this perspective often conflicts with what
consumers value – the quality of their experiences with goods and
services – companies see value creation as a process of cost-effectively
producing goods and services. Now information and communications technology,
the Internet in particular, is forcing companies to think differently
about value creation and to be more responsive to consumer experiences.
In fact, the balance of power in value creation is tipping in favor of
consumers.
Major business trends such as deregulation, globalization, technological
convergence, and the rapid evolution of the Internet have transformed
the roles that companies play in their dealings with other companies.
Business practitioners and scholars talk about alliances, networks,
and collaboration among companies. But managers and researchers have
largely ignored the agent that is most dramatically transforming the
industrial system as we know it: the consumer. In a market in which
technology-enabled consumers can now engage themselves in an active
dialogue with manufacturers – a dialogue that customers can control – companies
have to recognize that the customer is becoming a partner in creating
value. In this article, authors C.K. Prahalad and Venkatram Ramaswamy
demonstrate how the shifting role of the consumer affects the notion
of a company’s core competencies. Where previously, businesses
learned to draw on the competencies and resources of their business
partners and suppliers to compete effectively, they must now include
consumers as part of the extended enterprise, the authors say. Harnessing
those customer competencies won’t be easy. At a minimum, managers
must come to grips with four fundamental realities in co-opting customer
competence: they have to engage their customers in an active, explicit,
and ongoing dialogue; mobilize communities of customers; manage customer
diversity; and engage customers in cocreating personalized experiences.
Companies will also need to revise some of the traditional mechanisms
of the marketplace – pricing and billing systems, for instance – to
account for their customers’ new role.
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