Product is tangible and transferable value made available to peers/consumers/clients.
Within a value network, it is the result of a documented sequence of inputs and processes, so that its value may be described and accounted for. This record of production is to some degree embedded in the product itself, via design and branding cues.
In a larger sense, 'product' may also include the concept of externalities which are part of the negative consequence of production often ignored by ordinary market economics. It could also be stretched to include the norms, principles, and culture defined by the production community itself - an idea which brings to light the systemic nature of value network and ecological economics models.
Units of Value
Elements of Story
A necessary condition for the product to be the network's product is that its value stream must be recorded into the [value accounting system].
See more on the Brand page.
- See SENSORICA's product design philosophy]
- Read How to play the open game in the present and future economy blog post on Multitude Project, which describes important product features that give market advantage and allow extraction of value from open innovation.