Vision Community

Editor's Notes

• #10: Co-creation is a form of marketing strategy or business strategy that emphasizes the generation and ongoing realization of mutual firm-customer value. It 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.Co-created value arises in the form of personalised, unique experiences for the customer (value-in-use) and ongoing revenue, learning and enhanced market performance drivers for the firm (loyalty, relationships, customer word of mouth). Value is co-created with customers if and when a customer is able to personalize his or her experience using a firm's product-service proposition – in the lifetime of its use – to a level that is best suited to get his or her job(s) or tasks done and which allows the firm to derive greater value from its product-service investment in the form of new knowledge, higher revenues/profitability and/or superior brand value/loyalty.[1]Scholars C.K. Prahalad and VenkatRamaswamy introduced the concept in their 2000 Harvard Business Review article, "Co-Opting Customer Competence".[2] They developed their arguments further in their book, published by the Harvard Business School Press, The Future of Competition, where they offered examples includingNapster and Netflix showing that customers would no longer be satisfied with making yes or no decisions on what a company offers.[3] Value will be increasingly co-created by the firm and the customer, they argued, rather than being created entirely inside the firm. Co-creation in their view not only describes a trend of jointly creating products. It also describes a movement away from customers buying products and services as transactions, to those purchases being made as part of an experience. The authors held that consumers seek freedom of choice to interact with the firm through a range of experiences. Customers want to define choices in a manner that reflects their view of value, and they want to interact and transact in their preferred language and style.
• #20: elsonRolihlahla Mandela (Xhosa pronunciation: [xoˈliːɬaɬamanˈdeːla]; born 18 July 1918) is a South African politician who served as president of South Africa from 1994 to 1999, the first ever to be elected in a fully representative democratic election. Before being elected president, Mandela was a militant anti-apartheid activist, and the leader and co-founder of Umkhonto we Sizwe, the armed wing of the African National Congress (ANC). In 1962 he was arrested and convicted of sabotage and other charges, and sentenced to life imprisonment. Mandela went on to serve 27 years in prison, spending many of these years onRobben Island. Following his release from prison on 11 February 1990, Mandela led his party in the negotiations that led to the establishment of democracy in 1994. As president, he frequently gave priority to reconciliation, while introducing policies aimed at combating poverty and inequality in South Africa.[2][3]In South Africa, Mandela is often known as Madiba, his Xhosa clan name; or as tata (Xhosa: father).[4] Mandela has receivedmore than 250 awards over four decades, including the 1993 Nobel Peace Prize.