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A fundamental shift is underway that will change how we conceive of value. In an era of increasing interconnectedness, individuals, as opposed to institutions, stand at the center of value creation. To adapt to this tectonic shift, organizations can no longer unilaterally devise products and services. They must engage stakeholders—from customers and employees to suppliers, partners, and citizens at large—as co-creators.
Co-creation guru Venkat Ramaswamy and Kerimcan Ozcan call for enterprises to be mindful of lived experiences, to build engagement platforms and management systems that are designed for creative collaboration, and to develop "win more-win more" strategies that enhance our wealth, welfare, and, well-being. Richly illustrated with examples of co-creation in action, The Co-Creation Paradigm provides a blueprint for the co-creative enterprise, economy, and society, while presenting a conceptual framework that will guide organizations across sectors in adopting this transformational approach. Challenging some of our most deeply held ideas about business and value, this book outlines the future of "business as usual."
Venkat Ramaswamy and Kerimcan Ozcan. 2014. The Co-Creation Paradigm.
Redwood City: Stanford University Press.
Learn more: Co-Creation Thinking and Co-Creative Enterprise Transformation.
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“In the decade since co-creation was mooted, technological platforms have enabled human engagement at deeper levels and on an infinitely broader scale. As a consequence, businesses can and must expand their strategies to encompass a profitable engagement with all stakeholders. The powerful idea that "we can do even better for ourselves, if we do well for others" encompasses the way that successful organizations will contribute to wealth, welfare, and wellbeing in society. The Co-Creation Paradigm is a beacon for this new way of doing business.”
—Anand Mahindra
Chairman and Managing Director
Mahindra and Mahindra
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"In the last decade, we began to recognize that firm-centric organizations are losing ground, and a new way of co-creating value is taking hold. Paradigm shifts are necessarily slow revolutions. But, this book neatly synthesizes all that we know today about co-creation, while showing the way forward in the next generation of value creation. Whether you want to build a co-creative enterprise, or are intellectually curious about the shifting world of business, this book is for you."
—S. Sivakumar
Group Head - Agri & IT Businesses
ITC Limited
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"Building collective knowledge with stakeholders is no longer a privilege, but a must for organizations to survive in complex environments. The Co-Creation Paradigm presents the foundation for this thinking, and the concepts and tools to make it happen. Working co-creatively with the Brazilian public sector has showed me this is the only way forward."
— Paulo Fresneda
Advisor to the President,
Brazilian Agricultural Research Corporation
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"As a sequel to The Future of Competition and The Power of
Co-Creation, Venkat Ramaswamy and co-author Kerimcan Ozcan provide a compelling case of how companies who engage customers and develop an ecosystem of capabilities transform value creation in R&D, supply chains, and marketing to create sustainable competitive advantage."
— Jagdish N. Sheth
Charles Kellstadt Professor of Marketing,
Emory University
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"Creating and maintaining a competitive advantage is a race towards an ever moving target. Co-creation is the latest lever to get ahead by involving business partners, directly drawing upon their skills and efforts. Doing this requires a new business paradigm, which is well captured in Ramaswamy and Ozcan's practical and inspiring book."
— Hans Læssøe
Senior Director, Strategic Risk Management,
The LEGO Group
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"Co-creation is possibly the fastest growing innovation phenomena of our time. Recognizing, appreciating, and participating in it is no longer optional. This book is replete with references, insights, and illustrations that provide an exceptional breadth and depth of understanding of the
constructs that underlie the co-creative process."
— Bill Fischer
Professor of Innovation Management,
IMD, Lausanne, Switzerland
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"A stimulating look around the corner that reveals how network interactivity is transforming organizations and engaging customers. Readers will be challenged to rethink the very meaning of value, realized through intense and rewarding experiences."
—George S. Day
Geoffrey T. Boisi Professor and Co-Director of the Mack Center for Technological Innovation,
The Wharton School of the University of Pennsylvania
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“The Co-creation Paradigm represents the next wave of strategic marketing and management. We need to train our students and re-train our executives to think in terms of co-creation and platform building. Inviting all stakeholders to co-create our business will lead to competitive insights and advantages that are unimaginable in traditional companies.”
—Philip Kotler
S.C. Johnson & Son Distinguished Professor of International Marketing,
Kellogg Graduate School of Management,
Northwestern University
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"Firms are no longer the center of value creation, which now pivots around the human experience, interactions, and platforms of engagement. The Co-Creation Paradigm is a multi-layered view of strategy that opens up new insights and points toward profits that are not attainable using conventional tools."
—Venki Rajah
Vice President of Infrastructure Insight,
Oracle Corporation
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“Patients nowadays are connected and networked in ways that were unthinkable a decade ago. Allowing the patient to co-construct medical solutions to suit their conditions, symptoms, level of comfort, and experience with specific medications should be the aspiration of every pharmaceutical company. Yet, health systems and authorities need a roadmap for co-creating value. Venkat Ramaswamy and Kerimcan Ozcan show us the way.”
—Humberto C. Antunes
President and CEO,
Galderma S. A.
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"The Co-Creation Paradigm is an important read for those who are interested in the consequences of co-creation. It shows how co-creation is changing the agenda for how to run our organizations—which deeply involves how we relate to other organizations, groups, and customers. The authors provide compelling cases and examples throughout that highlight pertinent concerns for practitioners and academics alike."
—Rex Degnegaard
Copenhagen Business School
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“We are no longer in an information age. We are in an age of networked intelligence. The Internet gives us access not only to information, but also to the wisdom of people around the world. In this environment, trying to create value in isolation isn’t sustainable. Porous organizations outperform those that are insular. And, companies co-create maximum value through creative collaboration with customers, business partners, employees, citizens, and other stakeholders. Ramaswamy and Ozcan provide guidelines for and rich examples of this new normal.”
—Don Tapscott
Co-author of Macrowikinomics
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