From Global Strategy to Strategic Co-creation

Abstract

Chapter 3 presents the concepts of co-creation and shared strategy-making in order to optimize local knowledge and ensure successful strategies for international markets. A shared vision and strategic planning can influence local engagement and international market results. There is a growing movement from centralized to decentralized decision-making in order to focus on the practices of co-creation and strategy-making. Due to the need for increased local market knowledge and collaboration, organizations can benefit from the practice of strategic co-creation. This requires leadership that can ensure recognition and responsiveness to new ideas and knowledge shared by local teams. Cases include Nokia and Philips where readers can learn about the challenges and the opportunities for strategic co-creation.