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The Network Challenge: Strategy, Profit, and Risk in an Interlinked World by Robert E. Gunther, Yoram Wind, Paul R. Kleindorfer

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2. Creating Experience: Competitive Advantage in the Age of Networks

CK Prahalad

Abstract

The locus of innovation is shifting from the firm to the network. In contrast to developing stand-alone products, innovators are drawing together networks that deliver a personalized co-created experience to the customer. In this chapter, C. K. Prahalad describes a model in which nodal firms link communities of customers with communities of pre-qualified vendors. Examining cases from cardiac pacemakers to addressing diabetes, he explores the implications of this shift for product and service innovation, value creation, and new sources of competitive advantage.

The process of innovation and value creation is changing. Consider, for example, the new logic ...

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