(SHORT
NOTES FROM STRATEGY TOOLS:
Strategic
Prioritization at http://www.mindtools.com)
Value Chain Analysis
Value Chain Analysis is a useful tool
for working out how you can create the greatest possible value for your
customers. In most cases, the more value
you create, the more people will be prepared to pay a good price for your
product or service, and the more they will they keep on buying from you.
Value Chain Analysis helps to identify
the ways to create value for customers, and then helps think through how to
maximize this value: whether through superb products, great services, or jobs
well done.
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Value
Chain Analysis Process
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Step 1 – Activity Analysis
·
brainstorm
the activities that you, your team or your company
undertakes that in some way contribute towards your customer's experience
·
include the
step-by-step business processes that you use to serve the customer
·
including
o marketing
of your products or services;
o sales and order-taking;
o operational processes;
o delivery;
o support
·
other
things involved
o How to recruit people with the skills to give the
best service.
o How to motivate yourself or your team to perform
well.
o How to keep up-to-date with the most efficient and
effective techniques.
o How to select and develop the technologies that
give you the edge.
o How to get feedback from customer on how you're
doing, and how to improve further.
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Step 2 – Value Analysis
·
, list the
"Value Factors" for each activity identified
·
write down
what needs to be done or changed to provide great value for each Value Factor
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Step 3 – Evaluate Changes and Plan for
Action
·
pick out
the quick, easy, cheap wins
·
screen the
more difficult changes
·
Drop:
o Impractical ones
o marginal improvements, but at great cost
·
prioritize
the remaining tasks and plan to tackle them in an achievable, step-by-step
way
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Creating a More Ethical Organization
Plenty of organizations prioritize
profits over people; and growth over ethics.
Other companies recognize that they can make a healthy profit while also
reflecting higher ethical values. These
values can include responsibilities to the environment and to communities, as
well as to employees.
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