Living Service: How to Deliver the Service of the Future Today

Chapter 6. Co-creating the Future

In 1994, the management thought leader, C.K. Prahalad, co-authored Competing for the Future,^[1] with Gary Hamel. The book introduced the phrase ‘core competencies’ into the business lexicon. In his recent book (written with Venkat Ramaswamy), The Future of Competition (2003),^[2] Prahalad argues that globalization and the internet have changed the rules of the competitive game. Customers are no longer abstractions that have to be satisfied, instead they are a more powerful and proactive figure. The concept of value has also changed. It is not inherent in products or services. It cannot be instilled by producers or providers. It has to be co-created with customers. Through understanding and experience, this journey ...