Galen is a start up company in the field of MRI imaging striving to compete with Philips, GE and Siemens. The protagonist, Mr. Wong needs to develop up a business strategy and an irresistible offer to attract Dr. Comstad, a leading scientist in the field, and other co-creation partners to cooperate with a small start up company.
The case illustrates the advantage of co-creation business models over in-house solutions especially with regards to R&D and product development. It unveils the reasons for both companies and partners to engage in cooperation.
Conceptual foundations for this case include co-creation and accelerated product development with a practical focus on how to design a co-creation based model for particular business, purpose and partners. Students will also explore the fundamentals of co-creation illustrated by the examples of fortune 500 companies. Initial discussion will define the co-creation approach and allow students to understand its various types. The overall discussions will aim at designing a structure or framework for implementing successful co-creation solution.