C.K. Prahalad on InnovationYou can get an overview of The New Age of Innovation: Driving Cocreated Value Through Global Networks, published in April, by listening to what one of the authors, C.K. Prahalad, professor of strategy at the Ross School of Business of the University of Michigan, has to say in the video below. The video was made by Information Week at the Interop 2008 conference held a few weeks ago in Las Vegas.
In their book, Prahalad and co-author M.S. Krishnan, professor of business information technology at Ross, argue that companies that are successful into the future will be co-creating value with their customers, individualizing to meet particular customers' preferences. This is in contrast to the traditional form of innovation, in which a company first creates a new product or service and then turns its attention to selling it more or less as is to customers. Another key prong of their argument is that optimizing production will require accessing a global network of resources.
A brief BusinessWeek review of The New Age of Innovation is here.