1. Value collaborations spark business and industry transformation


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Value collaborations spark business and industry transformation

Our world is changing as a result of the Networked Society. It’s empowering consumers and influencing how we communicate with each other in private and business relationships. This post is about how the business and industry landscape is transforming and with it our ways of working, producing, manufacturing, and how customer value will be created.

Consultants and sales people offer advice and deliver services to their customers. They do their best to deliver quality work and service. This engagement aims to achieve high customer satisfaction. But do they really achieve the wanted satisfaction level by making value propositions and delivering quality services to customers?

In our digital world, where the market space is becoming crowded, consumers and markets have become extremely demanding. In fact, they are deciding about the features and functionalities that products and services must have and comply with. It has also become much more difficult for brands to influence how they are perceived by customers. So how do we address this new mindset? Collaboration.

Collaboration has given birth to crowdsourcing, crowdfunding and other crowd-related activities. Products are launched by leveraging the power of crowdsourcing. More and more brands rely on consumer buzz to communicate their products and by letting more enthusiastic customers experience products in advance.

Collaboration is about gaining agility and the ability to engage customers, suppliers and the market.
Mastering value creation with value collaboration is about not dictating a value proposition but rather holding value collaboration instead!

Participation and association are the main pillars of value collaboration. This means that you collaborate with your customer segments to develop the products and the services that they will most likely buy from you. Your products and services will fulfill their demands and their needs. This also means that there will always be a market for your products and services. Isn’t that great!?

One example is Threadless. Born out of crowdsourcing, Threadless is the biggest e-commerce site for user-designed t-shirts. Each week more than one thousand original graphic designs made by common users are submitted to visitors of the site, who rank and select the top ten best t-shirts to be produced and sold all over the world. Threadless has implemented a business model based on empowerment of users and customers – and the foundation is collaboration.
Businesses and industries will transform in the Networked Society. In fact, transformation is already happening. The ones who embrace change and begin addressing their markets in new ways will be the winners tomorrow. Social media, crowdsourcing, co-creation, collaborative systems will no longer be buzzwords in this all-collaborating world.

Written by Sami Dob

Sami is Program Director, Sustainability and Corporate Responsibility, for the Ericsson Group worldwide. An engineer and economist, he is interested in innovative business solutions that make great social impact. Also an advocate of redefining the practice of capitalism, Sami believes that Information and Communication Technology (ICT) can play an important role in addressing global challenges in areas such as poverty, development, climate change and human rights.

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