Value proposition Formal Definition: A value proposition (VP) is a statement that clearly identifies what benefits a customer will receive by purchasing a particular product or service from a particular vendor. Alternative Definitions: A value proposition is a promise of value to be delivered, communicated, and acknowledged. It is a belief from the customer about how value (benefit) will be delivered, experienced and acquired. A value proposition is a statement which identifies clear, measurable and demonstrable benefits consumers get when buying a particular product or service. It is a principle of customer value, with customer insights driving the company’s marketing activities.
In easy words, the organization wants to improve their delivery to their customers. An organization is connected of various parts and has many sub systems including Finance, Human Resource, Information Technology and marketing as well. When these all aspects are combined then they form a company. This study focuses on using the company as a Systematic thinking and this approach is very important to determine the most appropriate technology for the company based on the concerned problems. Systematic thinking is a management discipline that focus on understanding the system by linking the various components within the entire
SUPPLY CHIAN NETWORK OF TARGET VALUE CHIAN ANALYSIS OF TARGET Value chain analysis is a set of inter - linked value creating activities performed by the organisation that begin with inputs, go through processing and continue up to outputs manufactured to customers. It is the set of activities that creates additional value for the customer. Value chain plays a central role in improving cost efficiency, quality and customer responsiveness. Each activity in the value chain adds to the value of product in each process from its creation to delivery. According to Porter’s value chain analysis company activities are divided in Primary and Supportive activities.
The method is used for decision making and planning in the organization and used by the managers of the organizations. Organization uses this method to have accurate costing allocation in the production. It helps to have an accurate value of cost and profitability of each products and services. This methods help to convert indirect costs into direct costs which helps to achieve an accurate costs. The method helps to support decisions related to pricing, removing or adding items from the product protfolio and implementing evaluating processes for improvemnets in the organiation.
Channel is how a firm distributes the products to its clients. The brand element is about how a firm markets the benefits of its offerings. Lastly, customer engagement is the environment that a company provides to its clients in order to enhance their overall experience of using a product. Every organization has to ensure that the employees engage in its innovation strategy and take all changes with a positive mindset. The four elements needed for effective implementation of an innovation strategy are – Leadership, Engagement, Extension and Alignment.
A company’s competitive strategy is its plan of satisfying a set of customer needs through its products or services. For example, Dell's competitive strategy is providing a customized variety of products at a reasonable cost. Competitive strategy is based on customer's priority on product cost, delivery time, variety and quality. In order to execute this competitive strategy, decisions have to be taken at each stage of the supply chain that defines the supply chain strategy. For example, supply chain strategy selects from where and how, how much, raw materials to be procured, mode of transport to and from the company, distribution of the products and more.
Creating an effective job evaluation policy and practices enable the organisation to act and decide objectively with regards to compensation. The objectives of evaluation define the overall goal of the organisation in administering job evaluation. For instance, the purpose might be to establish the grade level for a particular job or to prevent inequities. Next, the roles and responsibilities outline the expectations for each of the actors or groups involve in the job evaluation. The sample below shows the outline of the roles and responsibilities of the Job evaluation committee for HR Council
Performance improvement is founded on the concept of improving human performance by systemic approach at the individual, process and organisational levels. It involves consideration of various elements that impact the individual performance such as the job description, performance expectations, feedback on performance, supportive environment, and knowledge and skills required as technical competencies to do the job. With relevance to the impact of accreditation process and how the organization can make the best of it, performance improvement also involves two important aspects which are delineated in this book: motivation and empowerment of employees to perform to expectations the working environment organized support, in terms of strategic direction, aligned personal goals to the organization goals, organisational structure, leadership and management organisational
His way of communicating this could be improved by his recognition of the customers’ need to understand the organization’s values. To put it into perspectivation to the subject Organization, where change is carefully understood in regards to the effect it has on the organization itself, the subject Marketing is focusing on how
In designing shared values in an organisation every personnel, customers, and stakeholders concerned in achieving the goals of the organisation must be fully involved. In modern day world of work there is a huge emphasis on participation and motivation in achieving goals. Kouzes & Posner (1993) mentioned that one of the precondition to establish credibility and trust between the leader and its employees is to develop a participatory approach in all programmes implemented by the organisation. Furthermore, they also maintained when an organisation becomes participatory in its approach there is a shift from the leader as the beginning and the end to ensuring total ownership of the values by all employees, customers and stakeholders. Pruzan (1998) also recommends that to ensure effective participation of employees there must be a communication strategy that create a space for them to input in the development of the values through a dialogue process with the senior management team.