The Power of Co-Creation

Apple embraced co-creation to enhance the speed and scope of its innovation, generat ing over $1 billion for its App-Store partner-developers in two years, even as it overtook Microsoft in market value. Starbucks launched its online platform MyStarbucksIdea.com to tap into ideas from customers and turbocharged a turnaround. Unilever turned to co-creation for redesigning prod uct lines such as Sunsilk shampoo and revitalized growth. Nike achieved remarkable success with its Nike+ co-creation initiative, which enables a com munity of over a million runners to interact with one another and the company, increasing its market share by 10 percent in the first year. Co-creation involves redefining the way organizations engage individuals-customers, employees, suppliers, partners, and other stake holders-bringing them into the process of value creation and engaging them in enriched experi ences, in order to -formulate new breakthrough strategies -design compelling new products and services -transform management processes -lower risks and costs -increase market share, loyalty, and returns In this pathbreaking book, Venkat Ramaswamy (who coined the term co-creation with C. K. Prahalad) and Francis Gouillart, pioneers in working with com panies to develop co-creation practices, show how every organization-from large corporation to small firm, and government agency to not-for-profit-can achieve win more-win more results with these methods. Based on extraordinary research and the authors' hands-on experiences with successful projects in co-creation at dozens of the world's most exciting organizations, The Power of Co-Creation illustrates with detailed examples from leading firms such as those above, as well as from Cisco, GlaxoSmithKline, Ama zon, Jabil, Predica, Wacoal, Caja…