Creating value is the foundation of all business. It’s what sets you apart from your competition, secures long-term customers, and brings distinct meaning to your brand and your stakeholders. Without creating value for your business, your unique offering will be seen as just another commodity in the eyes of your target market. Creating value is in every business leader’s vocabulary and uppermost in their overall strategy. In fact, creating value is the purpose of a company according to the Business Roundtable and the World Economic Forum. That is another key reason why more people want to understand and utilise value creation for their benefit and the good of their stakeholders.
Many companies and leaders seek to create value but do not know how to. As a result, they create and destroy value unconsciously. This book shows you how to create value consciously. To create long-term value, organizations need to put in place the mindset, capabilities, and relationships that enable them to meet the needs of their customers and stakeholders.
This book makes value creation understood and used by executives and leaders more effectively. The book describes value creation in its various nuances, how it arises, how it is used, and the width and scope of value creation, from how it impacts a company and how that company can become more successful by creating value for customers and other stakeholders. The author also provides tips for CEOs, managers, HR, and other professionals on how to succeed in value creation as a long-term strategy and in day-to-day work. Numerous examples and case studies illustrate the points being made by the author.
Author(s): Gautam Mahajan
Publisher: Routledge/Productivity Press
Year: 2023
Language: English
Pages: 357
City: New York
Cover
Endorsement Page
Half Title
Title Page
Copyright Page
Dedication
Table of Contents
Foreword by Professor Philip Kotler
Acknowledgements
About the Author
Introduction
The Importance of Value
Chapter 1 Value
Creating Value for Yourself Means Creating Value for Others
What Is Real Value?
The Impact of Culture on Creating Value
The Sense of Value
Using Customer’s Bill of Rights to Build a Customer Culture
Value of Belonging: The Orphaned Customer
Why “What’s in It for Me” Can Kill Value Creation
What Does Being Secure Have to Do with Creating Value?
Creating Value, Value Co-creation, and Value Destruction
From Value Grabbing to Value Creating: Lesson for Leaders
Is Value Co-creation Always Necessary
The Value Co-creation Platform
Wellbeing and Value Creation: Are They Two Sides of a Coin?
Chapter 2 Value Creation Education
Example of Value Creation in Education: At the Michener Center, U of Texas, Austin
Creating Value with Knowledge
Training vs. a Learning Mindset in Value Creation
Chapter 3 Customer Value
What Is Customer Value and How Can You Create It?
The Eight Principles of Customer Value Creation
Some Misconceptions about Customer Value
The Memory of Your Experience Is More Important Than Your Experience
Customer Value and Customer Satisfaction: Two Sides of the Same Coin?
Can Customer Value Change Customer Behaviour and Vice Versa?
Don’t Give Away Too Much to the Customer
Steps in Value Creation Implementation: The Customer Department
Customer Value Journey: Making the Journey Easy and Meaningful Creates Value
Customers as Ambassadors
How SMEs Benefit by Creating Value for Customers: A Case Study
Does a Customer Seek Customer Experience?
Customer-centric Circles, the Self-Directed Approach to Service and Mindset Changes
Ease and Simplicity Creates Experience and Value
Chapter 4 Customer Value Starvation
Air India, Whither Goest Thou, and Tata: How to Create Value
Adding More Value Does Not Cost Much; Creating Low Value Does Cost You
Value Creation Implementation Ideas. Avoid Value Destruction
When Zero Defects Are the Norm, Why Not Zero Customer Complaints?
Nuisance Value: Value Creation or Value Destruction?
Value Deprivation
Chapter 5 Employee Value
Employee Value Added Is Not What Companies Think!
Value Creation by Employees
Eight Tips for Value Creation for HR Professionals: Become Line Managers
Employee Journey
Using Employees to Build Market Place Foresight and Value Creation
Do Specialists Create More Value Than Generalists?
Chapter 6 Businesses and Institutions
Value Creation Is Output/Input
Are Companies Loyal?
The Real Sources of Value: Assets and Performance
Value Creation and Destruction in Customer Value Constellations
Four Types of Companies: My Learnings from Value Creation
Nine Reasons Why Your Company Isn’t Creating Value
Building Silos or Breaking Silos? Internal Customer Is a Flawed Concept!
Management by Creating Value
Does Value Creation Need Financial Incentives?
Companies Misunderstand Price
The Case for Value Creation Centres: Value Councils Go Beyond Pricing Councils and Innovation Councils
Journey of a Customer Value Creation Evangelist: From Companystan to Customerstan
Chapter 7 Profits and Value
How the Pure Profit Motive Destroys Value
The Great Balancing Act: You Can Tip the Balance! Increase Profits
Death of Profit: Customer Power Requires a Mindset Change to Improve Customer Retention and Profits
Value Added Stories to Increase Price
How Economics Creates Value
Chapter 8 Value Destruction
The Ukraine War Showcases Value Destruction and Learning from It
Look at Value Destruction to Create More Value
Co-Destruction
Value Destruction: Non-Value-Added Tasks Destroy Value
Will Value Destruction Ace Value Creation? Big Brother: Google, Apple, and Microsoft
Power and Value
Money and Power: Motivators of Conscious or Unconscious Value Destruction
Chapter 9 Leaders, Executives, and Value Creation
Value Creation and Leaders
Can Non-Owner Stakeholders Select CEOs to Create Value?
To Create More Value, Leaders Should Not Always Lead
Fear: Value Creator or Value Destroyer for Leaders
Trust Creates Value
Should Creating Value Be Part of Leadership and Education
Why Leadership Development Programs Fail: A Contrarian View
Why Training Does Not Create Great Leaders?
The Leadership Skill of Being Able to Unlearn: Create Value through Unlearning
No Time for Customers? Conduct a Task Audit
Are You a Value Creator or a Value Taker?
The Chief Creating Value Officer
Value Creation Implementation Ideas. Avoid Value Destruction
Chapter 10 Transformation and Value Creation
Value Creation for Transformational Growth of an Organization
Transforming companies through Value Creation, Not Value Destruction: The Balancing Act
Chapter 11 Purpose and Value Creation
Our Purpose in Life
The Purpose of a Company Defined by the World Economic Forum
Why Purpose Creates Value
What Is Value Creation and the New Purpose of a Company?
Chapter 12 Sustainability and Value Creation
Creating Value through Sustainability
Value Washing
Chapter 13 Disruption and Creating Value
Creating Value in a Disrupted Marketplace
Marketing and Disruption
Creating Value Out of Value Destruction by COVID-19
Chapter 14 Marketing and Value Creation
Marketing Must Prevent Customer Value Starvation to Increase Profits
Can Marketing Be a Value Destroyer?
Pitching Your Value Proposition: How to Focus on What Customers Value
De-Commoditizing Commodities: Add Value
Customer and Value Migration
Value of Being Anonymous?
Does Planned Obsolescence Destroy Value?
My Terms or Yours: What Creates More Value?
Chapter 15 Value Creation and Technology
Why Creating Value Is a Skill Needed for the Future with AI and Technology
Technology as a Potential Value Destroyer
CIOs Can Be True Value Creators
Chapter 16 Value Creation for Suppliers and Partners
Are You Adding Value to Your Suppliers and Partners?
The Supplier Strikes Back
Chapter 17 Value and Values
Driving Businesses from Values: Values Create Value (And Higher Profits)
Value and VBA
Corporate Unconsciousness: A Wakeup Call
Chapter 18 Value Waiting to Happen and Innovation
Value Waiting to Happen
Appendix A: Guide to Customer Value Creation Definitions
Index
