The Future of Competition

As a business professor and strategy expert, C. K. Prahalad has studied business administration long enough to understand the essence of value creation and innovation. With fellow University of Michigan Business School professor Venkat Ramaswamy, Prahalad has defined a better way for businesses to create value.

In , the authors describe an abundance of better ways for companies to compete by joining with their customers to co-create value using the latest technical and social advancements. They explain that a profound and radical shift in the balance between consumer and enterprise has taken place. They proclaim that the old, traditional ways companies used to do business are dead, and the era when companies created the offerings that they wanted customers to buy is now over.