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 News | August 30, 2008 |
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The Future of Competition
The Future of Competition
by C Prahalad & V Ramaswamy
Harvard Business School Press, 2004
$54.95
Authors CK Prahalad and Venkat Ramaswamy argue that consumers have greater product variety than ever, yet they are less satisfied. Yet paradoxically, management have more strategic options available to them but deliver less value. This sets the scene for The Future of
Competition: Co-creating Unique Value with
Customers, where the worlds of companies and consumers converge and the sources of value creation change dramatically.
Based in a wide range of ongoing industry experimentation and commentary from other academics, the book draws together a number of examples where companies go through a process of dialogue, access, risk and transparency (‘DART’) to improve the customer experience. It looks at areas such as consumer innovation, personalisation and experience, building new strategic capital, rapid knowledge creation and building new capabilities for the future.
The book does have the weight of logic behind it, in that changing generations are becoming more demanding in their spending habits. However, at the end of the day, The Future of Competition is largely a convoluted collection of complicated strategies, technologies and processes to make businesses more consumer friendly. Many of them have been presented before in simpler terms, and the book fails to deliver when compared to other pioneering works in the area.
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26 August 2004
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