The world around us is changing at relentless speed. We have entered the ‘Age of Imagination’. Entering new eras gives rise to new paradigms. The logic of how we think about economic exchange and business changes accordingly. The business models that underlie today’s organisations are no longer working due to the changing consumer needs. Initiated by these developments in the marketplace organisations need to shift from a goods dominant logic, towards a new dominant logic of value creation, which moves the focus from exchange of tangible goods with embedded value towards a logic that integrates goods with services, and focuses on exchange of intangibles, specialised skills and knowledge in which value is co-created: the service dominant logic.
As the new frame of reference for value creation is the premise that the consumer and firm co-create value, the co-creation experience becomes the very basis of value, with an emphasis on personalised co-creation experiences that lead to unique value to individuals. Moving towards a new dominant logic requires synergy between operant resource-based capabilities and value offerings, and an integrative and creative, future oriented approach to problem solving, to be able to explore the unknown and create new knowledge and new possibilities.
Read more: How we go about it