*** This event has been postponed. ***
Erich Joachimsthaler, Founder and CEO of VIVALDI presents a new business model for the future – one that goes beyond the value chain companies of the past and platform companies of the present to create shared value for all. Click here to register.
The future of business is about creating value for everyone – not just shareholders. At the same time, changing consumer habits, escalating customer expectations, and technology are disrupting businesses. Current business models – traditional value-chain companies and platform companies – cannot survive the torsion of these forces. Nor can they meet society’s demands; they are highly transactional and generate one-way value for the company, with little benefit to customers and society.
In The Interaction Field: The Revolutionary New Way to Create Shared Value for Businesses, Customers, and Society (PublicAffairs; September 15, 2020), management expert and professor Erich Joachimsthaler presents a new business model and operating model for the future – one that creates shared value for all. Companies that embrace this new model – called interaction field companies –generate, facilitate, and benefit from interactions and data exchanges among multiple people and groups–from customers and stakeholders, but also from those you wouldn’t expect to be in the mix, like suppliers, software developers, regulators, and even competitors. And everyone in the field works together to solve big, industry-wide, or complex and unpredictable societal problems.
Like a platform company, the interaction field company builds on a digital platform, but there is a big difference: it’s organized to generate, facilitate, and benefit from interactions rather than transactions. Composed of a nucleus of participants, an ecosystem of partners and contributors, and market makers that exert influence on the field, an interaction field facilitates communication, engagement, and information exchange among multiple people and groups, not just the company and its customers. These interactions produce velocity – multidimensional, constantly accelerating, explosive and smart growth that goes far beyond the traditional measures of sales increase, profit, or market capitalization. And velocity produces a virtuous cycle which allows the company to create shared value for everyone in the interaction field, well above and beyond the benefits it brings to its direct users. For example, a company that moves into the autonomous driving space could build an interaction field that not only meets new consumer needs around mobility, but also dramatically reduces vehicle involved injuries and fatalities. Or a healthcare provider can engage its interaction field to not only serve its customers, but also eradicate a specific disease or condition, which it cannot do alone.
Interaction field companies are just beginning to emerge, and the book explores how they work in heavy industries like agricultural equipment (John Deere), industrial metals (Klöckner & Co.), e-commerce (Alibaba), and in consumer businesses such as automobiles (Tesla, Waymo), health insurance (Discovery Health), cancer treatment (Roche’s Flatiron Health), action cameras (GoPro), appliances (Haier), pet food (Mars Petcare), and fashion (Burberry, Gucci). Both traditional value-chain companies and platform companies can move toward the model. As existing companies have seen their “digital transformations” fail, interaction fields provide an opportunity to leverage – rather than ditch – their assets, leapfrog the platform model and evolve for the future. And as platform companies face rising both societal backlash and ever escalating consumer expectations, the interaction field model offers a way to make good on their promise to “make the world a better place.”
With deeply-researched case studies and astute analyses, The Interaction Field introduces a revolutionary new way of doing business. Not only does this model allow companies to continuously innovate, evolve, and respond to ever rising customer expectations, but it also creates a new way to solve the immediate challenges of people today and also the major social and economic challenges of the future.
When:
Tuesday, September 15, 2020
6:00 PM ET - 7:00 PM ET
Cost:
As a service to the community, there is no cost to attend this session but capacity is limited.
Meeting Access Information:
A link, accessible by personal computer, tablet or smartphone, will be emailed to all registered guests 24-48 hours prior to the event to the "Primary Email" address listed in your profile. Please login to update your profile and confirm that the email address listed is correct.
Click here to register. Please register early as events can and do sell out quickly.
The future of business is about creating value for everyone – not just shareholders. At the same time, changing consumer habits, escalating customer expectations, and technology are disrupting businesses. Current business models – traditional value-chain companies and platform companies – cannot survive the torsion of these forces. Nor can they meet society’s demands; they are highly transactional and generate one-way value for the company, with little benefit to customers and society.
In The Interaction Field: The Revolutionary New Way to Create Shared Value for Businesses, Customers, and Society (PublicAffairs; September 15, 2020), management expert and professor Erich Joachimsthaler presents a new business model and operating model for the future – one that creates shared value for all. Companies that embrace this new model – called interaction field companies –generate, facilitate, and benefit from interactions and data exchanges among multiple people and groups–from customers and stakeholders, but also from those you wouldn’t expect to be in the mix, like suppliers, software developers, regulators, and even competitors. And everyone in the field works together to solve big, industry-wide, or complex and unpredictable societal problems.
Like a platform company, the interaction field company builds on a digital platform, but there is a big difference: it’s organized to generate, facilitate, and benefit from interactions rather than transactions. Composed of a nucleus of participants, an ecosystem of partners and contributors, and market makers that exert influence on the field, an interaction field facilitates communication, engagement, and information exchange among multiple people and groups, not just the company and its customers. These interactions produce velocity – multidimensional, constantly accelerating, explosive and smart growth that goes far beyond the traditional measures of sales increase, profit, or market capitalization. And velocity produces a virtuous cycle which allows the company to create shared value for everyone in the interaction field, well above and beyond the benefits it brings to its direct users. For example, a company that moves into the autonomous driving space could build an interaction field that not only meets new consumer needs around mobility, but also dramatically reduces vehicle involved injuries and fatalities. Or a healthcare provider can engage its interaction field to not only serve its customers, but also eradicate a specific disease or condition, which it cannot do alone.
Interaction field companies are just beginning to emerge, and the book explores how they work in heavy industries like agricultural equipment (John Deere), industrial metals (Klöckner & Co.), e-commerce (Alibaba), and in consumer businesses such as automobiles (Tesla, Waymo), health insurance (Discovery Health), cancer treatment (Roche’s Flatiron Health), action cameras (GoPro), appliances (Haier), pet food (Mars Petcare), and fashion (Burberry, Gucci). Both traditional value-chain companies and platform companies can move toward the model. As existing companies have seen their “digital transformations” fail, interaction fields provide an opportunity to leverage – rather than ditch – their assets, leapfrog the platform model and evolve for the future. And as platform companies face rising both societal backlash and ever escalating consumer expectations, the interaction field model offers a way to make good on their promise to “make the world a better place.”
With deeply-researched case studies and astute analyses, The Interaction Field introduces a revolutionary new way of doing business. Not only does this model allow companies to continuously innovate, evolve, and respond to ever rising customer expectations, but it also creates a new way to solve the immediate challenges of people today and also the major social and economic challenges of the future.
When:
Tuesday, September 15, 2020
6:00 PM ET - 7:00 PM ET
Cost:
As a service to the community, there is no cost to attend this session but capacity is limited.
Meeting Access Information:
A link, accessible by personal computer, tablet or smartphone, will be emailed to all registered guests 24-48 hours prior to the event to the "Primary Email" address listed in your profile. Please login to update your profile and confirm that the email address listed is correct.
Click here to register. Please register early as events can and do sell out quickly.
Pre-registration is required. Registration is subject to availability and will close on Tuesday, September 15 at 3:00pm.