What is Co-creation?
This collection is about Co-Creation, a form of business strategy that views markets as forums for firms and active customers to share, combine, and renew each other's resources and capabilities to create value through new forms of interaction, service and learning mechanisms. It differs from the traditional active firm - passive consumer market construct of the past, emphasizing the generation and ongoing realization of mutual firm-customer value.
A new wave of co-creation also seeks to improve how companies themselves operate throughout their organizations, in all their systems and processes. This “full theory of interactions” goes beyond the existing forms of co-creation of the customer experience and co-creation of products and services. Transforming traditional corporate practices such as training, performance management, and communications into co-creative interactions, molded by employees acting as intrapreneurs, sparks innovation, cuts costs, increases employee engagement, and generates value. Examples of companies at various stages of transformation to incorporate internal co-creation include Nike, Nokia, IBM and Credit Agricole.
How do we co-create at Ashoka?
Ashoka embraces both meanings of co-creation -- we design our products and services with the active input of those outside the organization, so that they can serve many needs and evolve fluidly. And we also strive to create an internal culture where employees are not told how to do things, but have the opportunity to express their own creativity and vision, from the very beginning of their engagement with Ashoka -- we are redoing our job descriptions so that they don't dictate activities but present challenges and goals that the new hire is to tackle, using teamwork and imagination to come up with an appropriate strategy.