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Co-creation May 27, 2008

Posted by Coolguy in Management.
Tags: ,

This could be one of this buzzwords you may be hearing more often, because, when Prahlad C.K, just named most influential management thinker in the world by Times of London, speaks, world pays attention.

While there is certainly no dearth of material on the internet exploring this topic, this post is my take on this not-so-new phenomenen.

The idea is that successful companies no longer invent new products and services entirely on their own. They create them along with their customers to produce an unique experience for every customer. Since no company own or can own enough resources to create these unique experiences, the management guru advocates that companies should organize a global networkers of suppliers and partners todo so.

In his latest book, The New Age of Innovation, Prahlad cites several examples of this phenomenon. So pretty powerful applications he cites are facebook opening its platform to allows users/companies to create applications based on the platform and how iPod allows users to to create their own experience by loading it with the content they like.

The company at the center of co-creation still has control on which choices it wants to offer its customers and how it wants to deliver them.

One of the challenges traditional companies may find adopting to this model is that they are built to creating and managing their own products.

One possible way to include customers needs in the product creation process is through the use of Quality Function Diagrams.



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