Value-Based Management is the organization management approach to value creation, particularly by increasing the shareholder value. In the context of competitiveness and the pressure of increasing demands on performance of the corporate, value creation should be reflecting the sustainable development as a road map to the community, customers and employees. Value-Based Management is consisting of Creating Value (ways to maximize growth and future value). This includes defining strategies for companies on both prospective near and far future. Measuring value valuation using leadership, corporate governance, communication), all these elements are very well stated changes in the company’s objectives and especially in the management of the company.
This process is combination process where companies can establish strong customer relationships and bring value for their customers and for themselves. Furthermore, marketing is a continuous process. This has made businesses to be always equipped in order to respond to their customer’s response and changes all the while. Profitability must be taken to consideration as it is the main
Further, the monitoring was a critical step in promoting customer satisfaction as well as providing management with the requisite information needed in making key supply chain decisions. For instance, data generated through monitoring of the program was critical in evaluating the effectiveness, efficiency, sustainability, and relevance of the interventions carried out in the company’s supply chain. Pre-built industry processes were another approach taken by the company to salvage its supply chain. For instance, the application of some customized business flows, as well as the use of templates and questionnaires, were highly critical. Moreover, Cisco Company found a solution in integrating all its systems from the various departments and which in the long run helped the company to integrate different products.
Implementing Lean System across organization: Lean system affects the organization in both internal processes and external customers and supplier network. The design of supply chain implementing the lean system approach is very significant to all functional areas across the organization. Marketing relies on lean systems to deliver products and provide services in timely manner at competitive prices. Human resources relies on lean approach to increase team work and productivity by rewarding employees and train them in order to operate successfully in lean system (Krajewski, Ritzman, & Malhotra). Finance and accounts have been transformed into high-performing customer-focused organizations.
Installing a CRM system can definitely improve the situation and help in challenging the new ways of marketing and business in an efficient manner. Hence in the era of business every organization should be recommended to have a full-fledged CRM system to cope up with all the business needs. An ideal CRM system is a centralized collection all data sources under an organization and provides an atomistic real time vision of customer information. A CRM system is vast and significant, but it be can implemented for small business, as well as large enterprises also as the main goal is to assist the customers efficiently. Usually an organization consists of various departments which predominantly have access to customer’s information either directly or indirectly.
These may include advertising, sales promotions, special offers and public relations. Whatever the channel used, it is necessary for it to be suitable for the product, the price and the end user it is being marketed to. It is important to differentiate between marketing and promotion. Promotion is just the communication aspect of the entire marketing function (Tracy). We’ve got a product and a price now it’s time to promote it.
The principal purpose of BPM is to increase the efficiency and effectiveness of organizational processes through improvement and innovation (Schmiedel et al., 2014). The implementation of BPM requires the commitment of all the organization because induces new roles, responsibilities, and tasks derived from the shift from a vertical or functional focus to a horizontal or process focus (Schmiedel et al., 2014). As the business processes move through an iterative and phased activities, defined as BPM lifecycle, they are affected and controlled by their main pillars - values, beliefs, leadership and culture (ABPMP, 2009). During the past century, business models became the main strategy to reduce costs, improve quality, and customer satisfaction, however implementing them is hard and entails significant risks but, even though, helps the organization to respond to changes (Euchner & Ganguly, 2014; Lindsay, Downs, & Lunn,
Supply Chain Management (SCM) is the wider concept of looking at the business needs from the sourcing till the production of the final product and delivering it to the customer. SCM attempt to centrally control or link the sourcing, the production, the shipment, the warehousing and distribution of products. The purpose is to ensure the whole business know what is happening when and where. By managing the international supply chain, companies are able to cut wastage and become more lean and mean, be more competitive and provide products faster. Being more lean and mean will drive the company to keep tighter control of internal inventories, production, distribution, sales and the inventories held and forecasted are all key elements in the SCM.
Also Ho defines the term TQM as: ‘Total = everyone associated with the company is involved in continuous improvement (including its’ customers and suppliers if feasible); Quality = customers’ expressed and implied requirements are met fully; Management = executives are fully committed’. TQM philosophy Total Quality Management is associated with the development, deployment, and maintenance of organizational systems that are required for various business processes. It is based on a strategic approach that focuses on maintaining existing quality standards as well as making incremental quality improvements. It can also be described as a cultural initiative as the focus is on establishing a culture of collaboration among various functional departments within an organization for improving overall quality. It is very important in this competitive world to provide the customers with quality products so as to survive in the market.
grow our businesses to incorporate trading activities of other industrial and building products. provide great rate on investment to shareholders. 1.2 Mission Statement AISB are committed to: supply quality products at competitive prices. provide best services to meet the needs of our customers. strive for excellence through consistent change of management skills, industrial skills and entrepreneurship.