Value Creation is a distinctive mindset. It is a mentality driven by enhanced self-esteem, awareness, and pro-activeness. It goes beyond just doing your job; it is doing something extra and going beyond what is expected.
Value Creation is executing proactive, imaginative, or inspired actions that increase the net worth of products, services, or an entire business to create better gains or value for Customers and Stakeholders. Value Creation should stimulate everyone within the organization to generate improved value for customers, driving success for the organization and stakeholders.
Value Creation creates Customer conscious companies.
If Value Creation is so good and a basic management technique, why is it not being adopted in a universal fashion? Which of these is holding your company from using it (If you are using value creation techniques, you would be aware of this! Are you?) You will find that smart people like you will be able to create more value when you focus on doing so.
What’s going on in your company?
- You are captives of what you have been taught and what you have learned: Believe that Value Creation for the company means ONLY increased profits, typically by reducing costs, increasing efficiency and trying to increase market share.
- Compensation is based ONLY on short-term profits.
- There is an overemphasis ONLY on efficiency, systems, and processes.
- More time and emphasis is paid to correcting problems and settling complaints, rather than to get to Zero Complaints.
- Competition is doing the same thing, why change. “Let’s all make merry and get our bonuses”.
- Customer concepts apart from being ONLY executive-led are also embedded by consultants who in a race to get ahead come up with niche phrases like CRM, CX, Customer Journey, Customer Effort etc. but all focused on processes.
- Employees and departments such as HR and IT are not taught to create true value and remain staff functions.
The word “ONLY” has been remarked in many cases because it does not mean that attention has to be paid to those items; in fact, those are part of what will help to create value but not the whole. There is the complement of the right variables and a proper establishment of priorities that make the difference.
Destruction of value happens unconsciously just as the creation of value. If you created value consciously and understood this you would work differently.
Companies need to learn that there is a strong connection between creating Value for Employees and Employees creating Value for Customers to increase profits. This is the real cycle of Value Creation!
Do you know how good you are in creating value? This instrument can help you to find the answer….
