Newswise — Babson Executive Education's (BEE) Center for Business Innovation has announced a joint research effort with Experience Co-Creation Partnership, a strategy consulting firm based in Concord, Mass., that will demonstrate how organizations can co-create innovation.

Entitled Next Practices in Value Creation, the research will investigate how organizations are co-creating value with customers through compelling experiences. Creating value is more challenging today because customers are more knowledgeable and demanding. In spite of their best efforts to deliver customer value, many companies are locked into a firm-centric paradigm. They fail to develop the interaction process that would engage customers in a two-way design of the value that the firm can deliver.

ECC Partnership and BEE will demonstrate how interaction with customers is the new locus of value creation, and why co-creation is the new competency for firms. In the Experience Co-Creation paradigm, core competences are no longer located in the value chain of the company, but at the point of interaction between the customer and the firm.

Francis Gouillart, President and Co-founder of the ECC Partnership, will present the preliminary research findings and facilitate a workshop, Experiencing Co-Creation, so organizations can experience this new value creation process for themselves, at the upcoming Innovation 2.0 Summit at the Babson Executive Conference Center at Babson College, Wellesley, Mass., on March 17th and 18th, 2009.

To learn more about the Innovation 2.0 Summit and to register online, go to www.babson.edu/bee/innovationsummit.

About Experience Co-Creation Partnership

The Experience Co-Creation Partnership (ECC Partnership) is a privately held consulting firm based in Concord, Massachusetts, that helps client companies build co-creative management processes and organizational capabilities. Founded by Venkat Ramaswamy (the Michael R. and Mary Kay Hallman Fellow of Electronic Business and Professor of Marketing at the Ross School of Business, University of Michigan, and award-winning co-author of The Future of Competition) and Francis Gouillart (a global consulting authority on the topics of strategy, transformation, and capabilities-building), the firm provides workshops, executive education, and consulting services to disseminate co-creation concepts and support practitioners worldwide. For more information, visit www.eccpartnership.com.

About Babson Executive Education and the Center for Business Innovation

Babson Executive Education is ranked among the world's best executive education providers. Organizations across the globe and from key industries choose Babson for progressive and flexible solutions that leverage the global business and teaching expertise of faculty, industry experts, and partners. Babson Executive Education's client-centric solutions include a strategic blend of education, consulting, coaching, and research to enable Clients to analyze challenges, develop solutions, and implement strategies to meet their goals. Babson's Center for Business Innovation is a research consortium of companies dedicated to identifying insights, next best practices, and practical applications to improve innovation's business performance. For more information, visit http://www.babson.edu/bee.

Abour Babson College

Babson College in Wellesley, Mass., is recognized internationally as a leader in entrepreneurial management education. Babson grants BS degrees through its innovative undergraduate program, and grants MBA and custom MS and MBA degrees through the F.W. Olin Graduate School of Business at Babson College. Babson Executive Education offers executive development programs to experienced managers worldwide. For information, visit www.babson.edu.

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