Value Creation Processes

Value creation forms the core of any organization’s profitability and business success. The scope of value creation, although customer-centric, needs to encompass all entities such as shareholders, employees, suppliers and vendors and others associated with the organization. While integrating value-driven processes in the organizational framework is the first step towards value-creation, nurturing and building such processes at all levels is equally significant. The few organizations that consistently adhere to value-based processes join the select league of successful and respected organizations.

The process of value creation is sustained by support processes and resource availability. Every organization needs to build proactive support systems and utilise resources efficiently to ensure continuity in the value chain.

Value creation might be the current management buzzword…but it comes with a huge dollop of reality bytes. Firms that are not taking a closer look at their value creation processes would do well to sit up and take notice.

The concept of product-led growth has been discussed ad nauseam in both scholarly journals as well mainstream business press. Ever -changing customer preferences shrink product lifecycles, thus forcing companies to simply copy the current bestseller on the shelf. There remains no apparent incentive for companies to innovate if the successful products are dethroned by the look- alikes. However, without continuous product innovation, this strategy of creating ‘me-too’ products seldom drives growth.