Rethinking value in a changing landscapeContents
Rethinking value in a changing landscapeIntrouction
The evolution of value
Historical legacy of value creation
The industrial economy 7The experience economy 9
Emerging Value Paradigms
The knowledge economy 11The transformation economy 13
Industrial paradigm - business implications 18Experience paradigm - business and brand implications 20Knowledge paradigm - business and brand implications 22Transformation paradigm - business and brand implications 24
Future growth through the knowledge and transformation paradigms
Key success factors
This document presents a framework for strategic reection
and planning which can support business stakeholders in creat-ing real and sustainable value by providing a deeper understand-ing of the emerging market context.It is not the intention of this document to try and predictthe future, but rather to illuminate and give meaning to thesystemic patterns of change that are unfolding - deep systemicshifts which are caused by the combined effect of changingsocio-cultural, business, environmental and technologicalrealities. These insights can help guide the transformation of business thinking, practices and organizational culture requiredto sustain future competitiveness.
The implications of the ndings in this document have far-
reaching consequences for organizations, and acting upon themwill require substantial leadership, courage and vision to bringabout the necessary changes. As a result, organizations willhave to re-examine the basic assumptions and core practices of their current business paradigm.In addition, embracing the emerging economic value creationparadigms will mean businesses have to reconsider the meaningof some of the most basic concepts of our business vocabulary,such as ‘consumer demand’, ‘branding’ ‘marketing’, ‘innovation’‘value chains’ and ‘value propositions’.
It may also prompt many organizations to reect on - their
business mission, competences, organizational culture, process-es, and their role in value creation and delivery.
Before we reect on the ongoing systemic changes thatnecessitate new business paradigms, we will rst briey review
the legacy and development of the prevailing mindset. Betterunderstanding the past may make it easier to grasp the changesthat will drive the future.