Friday, November 23, 2012

How to hit the bulls eye

C.K. Prahalad and M.S. Krishnan present DART – Dialogue, Access, Risk and Transparency Benefits

Through the four years of concerted effort, C.K. Prahalad, distinguished University Professor of Strategy, Ross school of Business, University of Michigan, named ‘The world’s most influential management thinker’ in 2007 by the Times of London & M.S. Krishnan, Hallman fellow and Professor of Business Information & Technology, Ross School of Business, University of Michigan have prescribed the agenda for senior managers to successfully compete on the battlefields and on the various fronts during the following centuries. They have to re-invent their processes and cultures to sustain innovative solutions. The new culture of innovation is a strategic plan for achieving transformation to meet the needs of the customers of the future.

The New Age Of Innovation builds on the Future Of Competition and The Fortune At The Bottom Of The Pyramid, presenting a unique perspective on the essence of innovation. It focuses on the nature and strategy in the new competitive context and builds the hidden links between business processes and analytics, innovational business models, and day-to-day operations.

The authors discuss various strategies for building teams that are capable of providing high-quality, low-cost solutions rapidly, & treating all involved individuals as unique. They discuss how to improve flexibility in all customer-facing and back-end processes, measure individual behaviour, and systems to co-create value with customers. The authours offer us the DART model which is an acronym for the building blocks of co-creation– Dialogue, Access, Risk and transperancy.

They’ve used examples to describe N=1, which they define as getting the customer to decide what he wants and access to resources from multiple sources. For this, various on-ground examples have been furnished like iGoogle, which is about co-creation of value and personalisation of experience where Google provides the platform to individual consumers; The Ponds Institute measures skin conditions and seeks customers’ view about how they want to look and feel; at Starbucks, a customer can decide whether to pick up his coffee and run, or stay and read the newspaper.

Source : IIPM Editorial, 2012.

For More IIPM Info, Visit below mentioned IIPM articles.