The new age of innovation [electronic resource] : driving cocreated value through global networks / C.K. Prahalad & M.S. Krishnan.

by Prahalad, C. K [author.]Looking glass; Krishnan, M. S. (Mayuram S.) [author.]Looking glass; ProQuest (Firm) [supplier.]Looking glass.

Publisher: New York, United States of America : McGraw-Hill Education, 2008.Description: 1 online resource (292 pages) : illustrations.ISBN: 9780071598293.Subject(s): Business planningLooking glass | Customer relationsLooking glass | Industrial managementLooking glass | Strategic planningLooking glassNote: Includes bibliographical references (pages [259]-265) and index. Alternative form: Print version: Prahalad, C. K. & Krishnan, M. S. New age of innovation : driving cocreated value through global networks. 9780071598286Online access: Read this e-book from ProQuest
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Enhanced descriptions from Syndetics:

Named one of the "Best Books on Innovation, 2008" by BusinessWeek magazine

From the greatest minds in business today comes a groundbreaking new blueprint for executing the next stage of customer-created value. C.K. Prahalad, the world's premier business thinker, and IT scholar M.S. Krishnan unveil the critical missing link in connecting strategy to execution--building organizational capabilities that allow companies to achieve and sustain continuous change and innovation.

The New Age of Innovation reveals that the key to creating value and the future growth of every business depends on accessing a global network of resources to co-create unique experiences with customers, one at a time. To achieve this, CEOs, executives, and managers at every level must transform their business processes, technical systems, and supply chain management, implementing key social and technological infrastructure requirements to create an ongoing innovation advantage.

In this landmark work, Prahalad and Krishnan explain how to accomplish this shift--one where IT and the management architecture form the corporation's fundamental foundation. This book provides strategies for

Redesigning systems to co-create value with customers and connect all parts of a firm to this process Measuring individual behavior through smart analytics Ceaselessly improving the flexibility and efficiency in all customer-facing and back-end processes Treating all involved individuals--customers, employees, investors, suppliers--as unique Working across cultures and time-zones in a seamless global network Building teams that are capable of providing high-quality, low-cost solutions rapidly

To successfully compete on the battlefields of 21st-century business, companies must reinvent their processes and culture in order to sustain innovative solutions. The New Age of Innovation is a complete program for achieving this transformation to meet the needs of the end consumer of the future.

Includes bibliographical references (pages [259]-265) and index.

Description based on print version record.

Reviews provided by Syndetics


The classic image of innovation is one of working surreptitiously on a project and when ready, launching it in the market to take the competition and customers by surprise. Prahalad (Univ. of Michigan; named the world's "most influential" management thinker by the Times of London and BusinessWeek) and Krishnan (business information and technology, Univ. of Michigan) turn the concept of innovation on its head. They argue that true innovation is co-creation, an idea created along with the customer and, more importantly, one that is customized specifically for each customer. Thus, TutorVista, a tutoring organization based in India, offers classes to students that allow each student to determine the number of hours, the pace, and the time. The authors introduce the concept of N = 1 (for one customer at a time) and R = G (where resources are not housed in just the firm, but are accessed from a wide variety of sources, hence global) as a template for customer-centric innovation. Buttressing their work with numerous examples from both the developed and the developing world, the authors make a plausible argument for their new model of innovation. The book is a practical roadmap for managers trying to navigate in a highly competitive world. Summing Up: Summing Up: Recommended. Professionals/practitioners. R. Subramanian Montclair State University

Author notes provided by Syndetics

C.K. Prahalad is the international bestselling author of Competing for the Future and The Fortune at the Bottom of the Pyramid . He is the Paul and Ruth McCracken Distinguished University Professor of Strategy, Ross School of Business, University of Michigan. Prahalad was named "The World's Most Influential Management Thinker" in 2007 by the Times of London and "the most influential thinker on business strategy today" by BusinessWeek .

M.S. Krishnan is a Hallman Fellow & Professor of Business Information and Technology, Ross School of Business, University of Michigan.