The Co Creation Connection
- Topics:
- Analysis,
- Business Ethics
- Tags:
- Booz Allen Hamilton Inc.,
- Creation
- Source:
- Booz Allen Hamilton
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Overview: For more than 100 years, a company-centric, efficiency-driven view of value creation has shaped 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 consumers are challenging this corporate logic of value creation. The article discusses the five powers of the connected consumer and also how do companies co-create valuable experiences with consumers. Hence, companies can and will make the adjustments to thrive in a world where value is co-created in experiences. But it will take time, courage, and stamina to compete in a different value creation space.
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Format: HTML | Date: Apr 2002 | Pages: 8
