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The New Age of Innovation: Driving Cocreated Value Through Global Networks 1st Edition

3.7 out of 5 stars 19 customer reviews
ISBN-13: 978-0071598286
ISBN-10: 0071598286
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Editorial Reviews

From the Back Cover

The new global standard for innovation and corporate growth

“Prahalad and Krishnan show us how innovation will be driven by the seamless integration of strategy, business processes, technology, and people. While this may seem an insurmountable task, the authors delight the reader by creating an architectural framework for business transformation. I have yet to come across a book that offers such a clear roadmap.”-S. Ramadorai CEO Tata Consultancy Services

“A great analysis of the challenges facing business today. Personalization of an individual consumer’s experience, globalization, global logistics, evolving business processes and information technology creates great complexity. C.K. Prahalad and M.S. Krishnan provide a framework to structure this complexity. Once understood, standardized and simplified these drivers provide an enviable foundation for innovation.” ―Ralph Szygenda, Chief Information Officer, General Motors

“Prahalad and Krishnan argue that to create value in a flattening world, companies must develop highly flexible innovation strategies that 'fold the future in.' To do this, they must partner with truly global networks of partners and customers―and rethink everything from their core capabilities to their corporate culture. Prahalad’s and Krishnan’s book is a compelling roadmap for this next phase of globalization.” ―Craig Mundie, Chief Research and Strategy Officer, Microsoft

About the Author

C.K. Prahalad is the international bestselling author of The Future of Competition, 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.

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Product Details

  • Hardcover: 304 pages
  • Publisher: McGraw-Hill Education; 1 edition (April 29, 2008)
  • Language: English
  • ISBN-10: 0071598286
  • ISBN-13: 978-0071598286
  • Product Dimensions: 6.3 x 1 x 9.3 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 3.7 out of 5 stars  See all reviews (19 customer reviews)
  • Amazon Best Sellers Rank: #871,616 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

By Mark P. McDonald VINE VOICE on June 17, 2008
Format: Hardcover Verified Purchase
The New Age of Innovation is good but miss-titled. This is not a book about how to be innovative. Rather the book advances an idea that all companies must face a world where they deal with customers individually and get their resources globally. The authors drive this home in a mantra of N=1 (there is one customer) and R=G (your resources are global). The N=1 R=G idea is cute and it is used throughout the book,but as you read the book N=1 R=G becomes the rational for everything and therefore nothing.

It is hard to give a book that covers such a breadth of important topics a mediocre review, but I have thought about this and come to the conclusion that this book is O.K. I am glad I read it as there are some good things here, just not to the level that I could heartily recommend it. If you are interested in these ideas and study the subject of enterprise strategy and management, then please buy this book as it will round out your experience. If you are looking for innovative ideas, then I am sorry this is not the book for you - in my opinion.

Besides the book not being about innovation, or really about how you drive co-created value, it is pretty good with some very good ideas. Prahalad and Krishnan start with an interesting premise - that all markets are not individual and that no company will have all the resources at its disposal to serve those individual markets. Put that way it provides a fresh way of thinking about global business. However that fresh thinking quickly devolves into a way of explaining a large range of business decisions from Wal-Mart to UPS, to GM to ICICI and others.
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Format: Hardcover Verified Purchase
This book is certainly worth reading, and especially by those executives that do not read much (the ones with the big egos and short attention spans). I admire the authors, but I am also increasingly annoyed by the annoying self-referential insularity that charactizes "star" authors who seem to not have read much by anyone else. Publishers need to begin demanding a proper literature search and more due diligence in "connecting" the reader to dots created by others.

Let's be crystal clear: Stewart Brand, the original editor of the Co-Evolution Quarterly and the Whole Earth Review, and the founder of the Silicon Valley Hackers Conference, did more inthe 1970's and 1980's for the concept of co-creating value that this pair will ever achieve.

More recently, in the 1990's and the past ten years, Collective Intelligence, the Power of Us (a Business Week cover story 20 June 2005 that the author's do not deign to notice), Wisdom of the Crowds, Smart Mobs, and so on, have all focused on the core concept of co-creation of value.

This book loses one star for its pretentions as an immaculate conception of a core concept that has been understood by the rest of us for the past forty years.

Now, having vented in defense of other scholars and practitioners that the authors should have respected, here are my flyleaf notes that easily warrant a solid four.

+ Roadmap for business leaders that does a superb job of showing how strategy and business processes both need to receive more respect as well as deliberate management.
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Format: Hardcover
I really respect Prahalad, but this book is probably the worst I have read about innovation (the title is misleading because the book is not about 'Innovation' at all). He iterates around two simple ideas of current 'drivers' for innovation (R=1 N=G), which are crystal clear for most of us who live in this globalized world.

The book is full of anecdotes poorly constructed, that barely address the point he tries to make and that have very little academic rigor. His constant references to ICICI, ING and so on are tiring.

For drivers of innovation, go to tradicional literature such as Schumpeter. Utterback and Christiansen are also very good. For something more practical information about innovation embedding, read 'Innovation to the Core' or 'Innovator's Guide to Growth'.
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Format: Hardcover
This is not a good book at all. Start by reading the book's full title. How on earth do you drive cocreated value through a global network? A network has no beginning or end. Is the value just being circulated in the network? And what about the new age? What was done in the prior age? Pushing product through supply chains?

The basic premise is that companies need to produce individualized products, not mass-customized, but individualized. We then get a few examples of start-up doing individualized shoes, tutoring, etc. I am not at all convinced that this is THE holy grail in innovation in the early 20th century. Oh, I forgot, the products will have to be developed together with other companies, because it is too complicated for one firm to do it all.

The book is not based on research, but rather a loose study of the usual suspects, like Walmart, Google, Apple, Facebook, Unilever. We have heard it all before and even the companies are beaten to death in business book after business book. Then the book proceeds to talk about big data analysis, business processes, and talent management. Most sections have a fairly strong India focus.

So many questions one might ask based on the material in the book:
- How important is individualized skin cream really for Unilever? How much more does the consumer wants to pay for individualized skin cream? My guess is that it will remain a small niche product.
- How many customers are really dissatisfied with Dell's current set of options, which are labelled mass-customization (bad!). How many customer needs more options than Dell offers?
- Does individualisation really apply to all firms? A water plant? A mining company? A meat packaging company? A bank? A restaurant?
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