In a traditional company/customer relationship, firms manage and perfect their marketing and their operations within the model of episodic sales, but they are inherently limited by the lack of connectivity to their customers.Traditional episodic interactions between customers and firms usually require customers to invest significant effort in figuring out a solution to their needs, then requesting and receiving the product or service. Moreover, there often exists a gap between what the customer wants and what the firm provides. This gap might be a temporal gap (the customer must wait) or could be a gap between what the customer wants and what she receives. A firm that is able to move from episodic interactions with its customers to a connected relationship overcomes these shortfalls. In this talk, I will explain how connected technologies allow for new user experiences and reshape industry structure.
Christian Terwiesch is the Andrew M. Heller Professor at the Wharton School of the University of Pennsylvania. He is a Professor in Wharton’s Operations and Information Management department, co-director of Penn’s Mack Institute for Innovation Management, and also holds a faculty appointment in Penn’s Perelman School of Medicine. His research on Operations Management and on Innovation Management appears in many of the leading academic journals ranging from Management Science to The New England Journal of Medicine. He is an award winning teacher with extensive experience in MBA teaching and executive education. His book, Innovation Tournaments, was published by Harvard Business School Press. The novel, process-based approach to innovation outlined in the book was featured by BusinessWeek, the Financial Times, and the Sloan Management Review and has led to innovation tournaments in organizations around the world.