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Published by:
INSEAD (2019)
Version:
05.2019
Length:
16 pages
Data source:
Published sources

Abstract

WeWork has seen a decade of growth with a disruptive new service business model in a rapidly transforming industry: shared office space for start-ups (and increasingly for big companies) thanks to its understanding of workplace trends such as the 'gig' economy, the rise of millennials and Generation Z in the workforce, more collaborative office work and tech-enabled mobility of employees. It caters to freelancers and multinationals alike, all members of the 'co-working' community, as well as an ecosystem of likeminded entrepreneurs. The case allows discussion of customer-centricity in a B2B service context, and of how companies optimize - digitalize - the customer experiences by leveraging data. WeWork relies on analytics and artificial intelligence (AI) to mine data from its global customer base for insights and deep learning that feed into next-gen office design and usage. Customers perform a job-to-be-done analysis using a means-end ladder to understand how WeWork creates an outstanding customer experience in a competitive, commoditized market. The case offers learning about service blueprinting and customer journey mapping when designing new services and/or improving existing ones. To deliver on its customer promise WeWork integrates the key building blocks of a superior business model, for example, alliances with strategic partners secure unique resources and distinctive competences, achieving cost-effective service excellence. Discussion culminates in future growth avenues following a corporate rebranding and reorganization into three business units under the umbrella 'We' brand.

Topics

Blue ocean strategy (BOS); Business model innovation; Customer centricity; Customer experience; Service design; Service innovation; Business-to-business (B2B) services; Servitization; Customer insights; Job-to-be-done analysis; Digital transformation; Artificial Intelligence; Cost-effective service excellence; Umbrella branding

Setting

The events covered by this item took place in 2019.

Geographical setting

Region:
World/global

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