The New Age of Innovation: Driving Cocreated Value Through Global Networks

In The New Age of Innovation, C.K. Prahalad and M.S. Krishnan offer a groundbreaking blueprint for harnessing customer-created value through the power of global networks. This landmark work reveals how the future growth of every business depends on tapping into worldwide resources to co-create truly unique customer experiences. Emphasizing the need for a seamless integration of strategy, business processes, and technology, the authors argue that companies must transform their operations at every level to keep pace with continuous change. The book outlines a comprehensive framework for this transformation, detailing strategies such as redesigning systems for value co-creation, utilizing smart analytics to monitor individual behavior, and enhancing both front-end and back-end process flexibility. It also stresses the importance of treating customers, employees, investors, and suppliers as unique contributors in a collaborative global ecosystem. Prahalad and Krishnan’s insights provide a clear roadmap for executives and managers aiming to reinvent their organizational structure and culture to thrive in the competitive landscape of the 21st century.