Introducing a new business model for smart growth that creates shared value and social benefit
Most business models are transactional and thrive on enormous scale, huge distribution networks, and brand recognition. But then along comes a rival that is small, nimble, and doesn’t care much about its brand, 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 survive and thrive in this environment is through the Interaction Field model. An interaction field company generates, facilitates, and benefits 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 problems.
The future is going to be about creating value for everyone, and 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.