Preface; 1. Introduction and impact of digitisation on markets; 2. Back to basics - what is value?; 3. Value and context; 4. Lifting the lid off context: the contextual experience; 5. Value and exchange; 6. Rise of the digital economy; 7. Back to basics in value creation - a theory of latent demand; 8. Value propositions and new business models; 9. Creating viability and worth; 10. Markets, digital labour and new economic models; Postscript; Bibliography; Index.
This book provides practical advice to help readers innovate and identify new business models, products and services within the connected digital economy.
Irene Ng is Professor of Marketing and Service Systems and Director of the International Institute of Product and Service Innovation (IIPSI) at WMG, University of Warwick. She was an entrepreneur for 16 years as CEO of SA Tours, one of the largest tour operators in Southeast Asia, and the founder of Empress Cruise Lines, which she had built into a venture worth US$250 million in annual turnover by the time she sold it in 1996. Since becoming an academic in 1997, Professor Ng has received global recognition for her work in value, new business models and service systems, with 22 journal articles, three books and national appointments such as the ESRC/AIM Services Fellow in 2008 and ESRC/NIHR Fellow in 2009.
'In Creating New Markets in the Digital Economy, Professor Ng
skilfully makes the extremely difficult topics of 'value' and its
creation accessible to the novice reader while, at the same time,
offering alternative orientations and useful insights for advanced
readers. She artfully weaves together historical and contemporary
perspectives with emerging technological developments to reveal
innovative possibilities for value (co)creation through the
institutionalization of new, market-based solutions.' Stephen L.
Vargo, University of Hawaii
'This new book is a most welcome addition to the canon of work in
the emerging area of the digital economy. Starting from questioning
the utility of the concept of utility, a common reductionist model
of what motivates value and worth in economics, this book uncovers
the far richer and inherently social underpinning of what motivates
exchange of goods and services in the modern, digital age. The book
is written from an unusually personal perspective, which means that
it is easy to relate to, since the author's own digital footprint
serves as examples for the arguments.' Jon Crowcroft, University of
Cambridge Computer Laboratory
'Irene Ng shares her personal journey of discovery in her new book
Creating New Markets in the Digital Economy, in what is a tour de
force of systems thinking. For the first time, Ng makes leading
edge service science and service-dominant logic thinking accessible
to everyone. From students to faculty to executives, from academics
to practitioners to policy makers, not only is the concept of
'value co-creation' clearly explained, but the surprising
implications for innovation in the age of 'digitally connected
service systems' is also easily accessible for the first time to
the broadest audience of readers. A must-read for all those who
want a deep understanding of service innovation, as well as a
glimpse into the future and why the best is yet to come.' Jim
Spohrer, Director, Global University Programs, IBM
'The complex but creative disruption that digitalisation affords
will not please everyone but this guide may assist even the most
reluctant of travellers to engage in navigation - for it turns out
that although we are all on this journey, there can be almost as
many destinations as passengers and every passenger can choose to
be a driver of their own digital economy.' David Brunnen, Managing
Director, Groupe Intellex
'Irene Ng's lucid and accessible book, Creating New Markets in the
Digital Economy: Value and Worth, is a remarkable accomplishment, a
work that should not be overlooked (that is, it most certainly
should be read!) by current and prospective business managers,
leaders, and entrepreneurs in every economic sector.' Andrew
Karpie, Principal Analyst, The Research Platform and Affiliate
Analyst, Staffing Industry Analysts
'Ng has written a thought-provoking and highly conceptual personal
account of what she has been thinking about from observing human
behavior, doing research, and working with large and small
companies over the past fifteen years. In that time frame,
digitization has produced a radical convergence between buying and
using … [Ng] gives the reader plenty to think about in this highly
intelligent book. Summing up: highly recommended. Upper-division
undergraduates and above.' E. J. Szewczak, Choice
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