Most businesses today focus on competition and disruption instead of collaboration, participation, and engagement. They focus on transactions instead of interactions. They seek to optimize or extract value rather than share it. They build assets and thrive on enormous scale, huge distribution networks, and brand recognition. But then along comes a rival that doesn’t care much about your brand and your other assets, and it either rushes past you or mows you down.
In The Interaction Field, management expert and professor Erich Joachimsthaler explains that the only way to thrive in this environment is through the Interaction Field model. Companies who embrace this model generate, facilitate, and benefit from 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.
The future is going to be about creating value for everyone. Businesses that solve immediate challenges of people today and also the major social and economic challenges of the future are the ones that will survive and grow.
If we really want to understand the way consumers live, play, and work, we need to stop looking at the world of consumers and brands from the dated view of classical economists in terms of segments, categories, sectors, and industries. We need to stop thinking about competition and disruption, and adopt a new model of business built on collaboration, engagement, and participation.
Erich Joachimsthaler, Author of The Interaction Field
Founder & CEO of VIVALDI
Erich Joachimsthaler, Ph.D. is the Founder and CEO of VIVALDI, one of the largest independent global strategy and business transformation firms, with offices in the US, Europe and Asia. He was a post-doc fellow at Harvard Business School, and held faculty positions at University of Southern California, IESE Business School, and The Darden School, University of Virginia. He is the author and co-author of more than a hundred articles published in highly-respected journals as well as of two award-winning books- Brand Leadership and Hidden in Plain Sight. His latest book, The Interaction Field, describes the emergence of a new business model of the same name. As he writes, previous business models have been transactional whereas this new model is interactional, feeding on continuous engagement, participation, and collaboration between multiple groups, all in the name of creating new value for these participants and society at large. He additionally outlines the ways that companies can leverage their interaction field in the evolving business landscape.
He has been featured in USA Today, The New York Times, Wall Street Journal, and on CNBC, among others, and writes regularly for Harvard Business Review. In 2017, he was voted a Top 25 Influencer of Chief Digital Officers, and he was inducted as the 2017 Fellow of the ISBM Institute for his lifetime contribution in academics, thought leadership and practice in B2B marketing, strategy, and digital innovation. He lives in New York, NY.
A thrilling new way of looking at a successful business model for the future. This fascinating book contains great business stories-such as LEGO, John Deere, Alibaba, Flatiron Health, and more-as well as important thinking today's CEOs should become familiar with.
Vijay Govindarajan, Coxe Distinguished Professor at Tuck at Dartmouth, NYT and WSJ Best Selling Author, Three Box Solution: A Strategy For Leading Innovation
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