Posts Tagged ‘personalized experience centric view’
New Demands Traditional Firms Confronts in the N=1 World (ii)
According to CK Prahalad and MS Krishnan, in the N =1 world, the traditional firm confronts several critical new demands. These new demands includes flexibility; quality, cost, and experience; collaborative networks; complexity; customer interfaces; and scalability. In the previous post, we have examined the first three demands. The remaining will be covered in this one.
New Demands Traditional Firms Confronts in the N=1 World (i)
According to CK Prahalad and MS Krishnan, in the N =1 world, the traditional firm confronts several critical new demands. These new demands includes flexibility; quality, cost, and experience; collaborative networks; complexity; customer interfaces; and scalability. In this post, we will examine the first three demands.
Developing New Principles For Innovation - The Principle N=1
The individual is at the heart of experience. If the locus of value is shifting from products and services to experience, then, according to C.K Prahalad and M.S. Krishnan, almost by definition, value creation must focus on the individual consumer. They argue that our N = 1 world is not about the mass customization offered by large companies such as auto manufacturers that have allowed customers to choose their own color from a list of offerings or Dell that allows individuals to pick their computer options from a significant menu of components and essentially “build” their own systems.
Five Key Elements of The Transformation Toward N=1; R=G
The competitive arena is shifting from a product-centric view of value creation (for example, tires) to a personalized experience centric view of value creation (for example, pricing based on usage by application and driving habits that influence wear and tear). From the examples presented in the book “The New Age of Innovation”, CK Prahalad and MS Krishnan can identify 5 key elements of the transformation toward N=1; R=G,