scholarly journals Internal market orientation as a value creation mechanism

2019 ◽  
Vol 33 (2) ◽  
pp. 233-244 ◽  
Author(s):  
Achilleas Boukis
Keyword(s):  
Market Orientation ◽  
Value Creation ◽  
Internal Market ◽  
Theory And Practice ◽  
Content Type ◽  
Creation Process ◽  
A Value ◽  
Conceptual Paper ◽  
Internal Market Orientation ◽  
Value Creation Process

PurposeThis paper aims to re-examine the nature, aim and scope of internal market orientation (IMO) and introduce it as a value creation mechanism for the firm’s internal market. A service-dominant logic (SDL)-based perspective of the IMO notion is advanced, and the key steps and phases for value creation in the internal market are outlined.Design/methodology/approachThis conceptual paper bridges the IM discourse with the SDL literature, and the latter’s implications for internal marketing theory and practice are discussed.FindingsDrawing on the premises of the SDL, IMO re-surfaces as an interconnected operant resource that can be enacted through performing three sets of activities central in the value creation process for internal stakeholders (i.e. value-identifying, value-generating and value-enhancing activities). These groups of relevant value-enabling activities required for IMO enactment are extensively discussed and their role in the value creation process is scrutinized.Originality/valueThis conceptual paper aspires to provide a managerially relevant understanding of value creation in the firm’s internal market. An SDL-driven understanding of IMO is advanced setting it as a value creation mechanism appealing to a wider range of organizations.

Is property management viewed as a value-added service?

2019 ◽  
Vol 37 (2) ◽  
pp. 262-274 ◽  
Author(s):  
Dustin C. Read ◽  
Andrew Carswell
Keyword(s):  
Real Estate ◽  
Value Creation ◽  
Value Added ◽  
Professional Service ◽  
Property Management ◽  
Individual Property ◽  
Content Type ◽  
Creation Process ◽  
A Value ◽  
Value Creation Process

PurposeThe purpose of this paper is to examine the perspectives of real estate executives to assess the extent to which property management is viewed as a commodity or as a value-added professional service contributing positively to investment performance and property value maximization.Design/methodology/approachThe qualitative analysis draws on the result of 93 semi-structured interviews conducted with executives employed by some of the largest real estate investment management and service firms across the USA.FindingsThe findings suggest that significant perceptual cleavages exist in the real estate industry, with some executives believing property managers are incredibly important to the value creation process and others believing they play a much more modest role.Practical implicationsThe results highlight the need for the property management industry as whole to continue its efforts to gain recognition as a value-added professional service and for individual property management companies to actively take steps to differentiate themselves from competitors if they hope to avoid commodification and fee compression.Originality/valueThe study is the first to the authors’ knowledge to examine real estate executives’ perspectives about the roles property managers play in the value creation process, as well as their views about whether property managers have the skills and autonomy required to make value accretive decisions.

The value space: how firms facilitate value creation

2016 ◽  
Vol 22 (4) ◽  
pp. 736-762 ◽  
Author(s):  
Martti Lindman ◽  
Kyösti Pennanen ◽  
Jens Rothenstein ◽  
Barbara Scozzi ◽  
Zsuzsanna Vincze
Keyword(s):  
Value Creation ◽  
Process Management ◽  
Content Type ◽  
Creation Process ◽  
A Value ◽  
Multiple Case ◽  
Different Dimensions ◽  
Value Creation Process

Purpose – The purpose of this paper is to investigate the firm’s role in the value creation process. In particular, after categorizing the activities that firms carry out to facilitate the creation of value, the “value space,” an actionable framework within which different dimensions of value creation are integrated, is developed and discussed. Design/methodology/approach – The framework is built up on process theory, an in-depth review of the literature and a multiple case study carried out on 65 European firms in the furniture industry. Findings – The value space is both a practical and theoretically based framework which contributes to the development of a more holistic and “actionable” view on the role of firm in the value creation process; also it provides managers with a tool to support the analysis, management and innovation of the value creation process. Originality/value – The systematic categorization of firms’ activities and their subsequent integration into a value creation framework are a missing piece in terms of understanding the value creation process carried out by firms. Also, by facilitating the analysis and innovation of the value creation process, the framework can be used to support both exploitative and explorative business process management.

Value creation through expanding the online distribution channel

2020 ◽  
Vol 120 (4) ◽  
pp. 714-729
Author(s):  
Frank Wiengarten ◽  
Hugo K.S. Lam ◽  
Di Fan
Keyword(s):  
Supply Chain ◽  
Stock Market ◽  
Value Creation ◽  
Distribution Channel ◽  
Chain Process ◽  
Market Reactions ◽  
Content Type ◽  
Creation Process ◽  
Stock Market Reactions ◽  
Value Creation Process

PurposeCurrent literature provides limited insights into the supply chain contexts within which e-commerce can create higher value for firms. To address this literature gap, this research explores the value potential, and thus value creation process, of e-commerce initiatives for supply chain distribution channel expansions.Design/methodology/approachUsing secondary data collected from multiple sources, this research conducted an event study to examine the stock market reactions to the announcements of e-commerce initiatives of Chinese firms.FindingsThe results indicate that the e-commerce initiatives increase average firm value by CNY 295.29 million in a three-day window around the initiative's announcement date. Moreover, we find that such stock market reactions are more positive for firms with poor operating performance, and more negative when firms deploy initiatives on their own (rather than third-party) platforms. Further, companies that integrate or complement their online sales with an offline sales channel experience more positive stock market reactions.Originality/valueThis study provides new insights into the value creation process of e-commerce from an operation and supply chain process perspective.

Cross-cultural influences on e-value creation in supply chains

2014 ◽  
Vol 19 (2) ◽  
pp. 187-199 ◽  
Author(s):  
Joshua M. Davis ◽  
Carlo Mora-Monge ◽  
Gioconda Quesada ◽  
Marvin Gonzalez
Keyword(s):  
Supply Chain ◽  
Cultural Differences ◽  
Value Creation ◽  
Cross Cultural ◽  
Business Systems ◽  
National Cultures ◽  
Content Type ◽  
Creation Process ◽  
Cross Cultural Differences ◽  
Value Creation Process

Purpose – This paper seeks to report the results of an empirical study examining the influence of cross-cultural differences on the value creation process from e-business systems in the supply chain. Design/methodology/approach – A questionnaire was sent out to senior managers in companies operating in two culturally distinct national cultures. The effects of cross-cultural differences were examined by testing for between-group differences in the structural model using the multi-group partial least squares (PLS) statistical approach. Findings – Consistent with the resource-based view (RBV), contingency “fit” theory, and prior research, this study demonstrates that the value creation process from e-business systems is significantly enhanced in companies operating in national cultures that emphasize cooperation and interdependence, and promote group-level interests over individual interests. Originality/value – The mechanisms through which performance improvement is achieved from e-business systems are still not fully understood. Little is still known about how digital capabilities and environmental factors work together to influence e-business value creation along the supply chain. In addition, while contextual factors have been highlighted within the stream, the knowledge base is especially limited regarding the role of global factors in shaping the attainment of value from e-business systems in this context. Filling these gaps, this study simultaneously investigates the roles of intermediate capabilities and the macro-environment in creating value from e-business in the supply chain.

scholarly journals Internal market orientation determinants of employee brand enactment

2017 ◽  
Vol 31 (7) ◽  
pp. 690-703 ◽  
Author(s):  
Achilleas Boukis ◽  
Spiros Gounaris ◽  
Ian Lings
Keyword(s):  
Market Orientation ◽  
Internal Market ◽  
Working Environment ◽  
Front Line ◽  
Internal Branding ◽  
Holistic View ◽  
Content Type ◽  
Brand Knowledge ◽  
Internal Market Orientation ◽  
The Impact

Purpose This study aims to explore how the adoption of internal market orientation (IMO) can enhance front-line employee brand enactment within an interpersonal service setting. Insights from equity theory and the person – environment paradigm are drawn upon to develop a theoretical model describing the impact of IMO on employee – organization fit, employee – supervisor fit and employee – job fit and the consequences of IMO on employee brand knowledge and brand identification. Second, the role of various types of fit and brand knowledge/identification for front-line employee brand enactment is confirmed. Design/methodology/approach This study draws from service employees in a high-contact customer setting. Findings Results uncover two mechanisms for successful internal branding: increasing employee fit with the service environment and enhancing employee brand knowledge. Practical implications The study contributes to practice in that the findings outline a realistic understanding of how managerial actions facilitate employees’ alignment with the firm’s brand promise within the realm of the broader organizational context in which service delivery takes place. Originality/value The present study contributes in the extant literature as it enables a more holistic view of the drivers of brand-congruent behaviors among front-line employees. Moreover, it has a significant contribution for future researchers as it lays the ground to further examine how employees’ perceptions of internal marketing strategies shape their fit levels with different aspects of their working environment which also affect the internal branding efforts of service organizations.

Why top managements must change their fundamental assumptions

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Stephen Denning
Keyword(s):  
Value Creation ◽  
Customer Value ◽  
Design Methodology ◽  
Content Type ◽  
Business People ◽  
A Value ◽  
Current Context ◽  
Purpose Of Business ◽  
Value Creation Process ◽  
Practical Implications

Purpose Despite today’s profusion of customer-centric rhetoric, most business people still believe that the primary purpose of business is profits. But the most resilient and sustainably successful firms consistently select one primary purpose: enrich the lives of their customers. 10; Design\methodology\approach The article maps how the most valuable and fastest growing firms are paving the way for an era of customer-driven capitalism. Findings In the current digital age, an obsession with delivering value to customers is proving to be the key driving force for success. Practical\implications The goal of customer-value primacy is not a threat to other stakeholders. Originality\value Customer-driven leadership is a hallmark of successful management in the current context. Top management must institute and continuously support a value creation process that works backwards from the future. 10;

The hybrid discourse on creative tourism: illuminating the value creation process

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zhaoyu Chen ◽  
Xiaolian Chen ◽  
Barry Mak
Keyword(s):  
Value Creation ◽  
Service Sector ◽  
Critical Role ◽  
Value Added ◽  
Creative Industries ◽  
Future Research ◽  
Essential Information ◽  
Content Type ◽  
Creation Process ◽  
Value Creation Process

Purpose This paper aims to identify the nature of creative tourism and the roles of interrelated concepts especially those of creative industries in the value creation process, by analyzing the trends in existing practices. Design/methodology/approach Based on a thorough literature review of the multidisciplinary “creative” related research, this paper provides a conceptual insight of the value creation process in creative tourism. Findings A conceptual framework is provided to consolidate the value creation process of a creative economy by considering the nature of creative tourism and interrelated concepts. Research limitations/implications This study contributes to the literature because it provides a valid research base and insights for future research, based on a clear perspective that amalgamates essential information. Practical implications Creative tourism offers immense opportunities in the global context as tourists are constantly looking for new experiences and opportunities. This study provides insights for creative workforces, entrepreneurs and organizations in formulating appropriate management and marketing strategies by considering all relevant components and the roles they can play to capitalize on this opportunity. Originality/value Creative industries play a critical role in introducing new strategies in the service sector by enabling an upgrade of value-added activities to those that are currently offered, in a sustainable manner. However, studies so far have not taken into consideration the nature of the sector and have not attempted to clarify its relevance (for example, creativity, creative industries and creative workforces) in the value creation process. The study contributes to filling the gap from a conceptual perspective.

Value co-creation and co-destruction in the first cashless society in Colombia – a middle range theory approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Aaron van Klyton ◽  
Juan-Fernando Tavera-Mesias ◽  
Wilson Castaño-Muñoz
Keyword(s):  
Value Creation ◽  
Cultural Theory ◽  
Mobile App ◽  
Theory Approach ◽  
Mobile Banking ◽  
Content Type ◽  
Creation Process ◽  
Digital Money ◽  
Service Ecosystem ◽  
Value Creation Process

PurposeThe research examines the simultaneous processes of value co-creation and value co-destruction in the implementation of a mobile banking application in rural Colombia. Rural communities experience digital and financial deficits and often become the object of technology-based initiatives. In the town, vulnerable female heads of household received a government subsidy through a mobile app, becoming an experimental group for this government–private bank collaboration. In an effort to create the first cashless society in Colombia, the bank engaged the entire town and local government to create a service ecosystem, constituted by operant resources.Design/methodology/approachThis study uses a qualitative, ethnographic approach to investigate the experiences of stakeholders in engaging with a mobile banking app. The empirical data is drawn from 34 interviews, representing different layers of this service ecosystem. The study identified and analysed actor engagement behaviours that occurred in the micro-, meso-, macro- and meta-layers of this ecosystem that shaped the perception and usage of mobile payments and digital money for rural consumers.FindingsThe study found that simultaneous manifestations of the co-creation and co-destruction of value present in different layers ultimately diminished the value proposition for this digital money system. We shed light on how actor engagement transitions across different layers of the ecosystem and that negative interactions in the meta-layer of the ecosystem can affect perceptions of value in the micro-layer.Originality/valueThis study has contributed to the service literature by integrating epistemological cultural theory into value co-creation and co-destruction construct. In doing so, we provide a broader context for understanding how actor engagement can negatively impact on the value creation process and offer a meaningful contribution to the development of midrange theory of the value creation process.

Managing the Customer Relationship

2011 ◽  
pp. 1-13
Author(s):  
Keith F. Ward ◽  
Erik Rolland ◽  
Raymond A. Patterson
Keyword(s):  
Customer Relationship Management ◽  
Value Creation ◽  
Firm Value ◽  
Customer Value ◽  
Relationship Management ◽  
Customer Relationship ◽  
Creation Process ◽  
Goods And Services ◽  
A Value ◽  
Value Creation Process

Proponents of Customer Relationship Management (CRM) suggest that a firm can develop a value creation relationship, such that an increase in customer value, leads to an increase in firm value (Mithas et al., 2005). The value for the customers comes from the provision of goods and services that match their needs. However, the research to date on using e-CRM systems to both foster and monitor this value creation process is somewhat mixed. This chapter proposes to cross-functionally integrate organizational assets with customers’ interests via technology. The resulting framework can assist managers in improving services, through the use of e-CRM, to understand what is important to the customer.

The influence of the Japanese tea ceremony on Japanese restaurant hospitality

2015 ◽  
Vol 32 (7) ◽  
pp. 520-529 ◽  
Author(s):  
Yoshinobu Sato ◽  
Mark E. Parry
Keyword(s):  
Value Creation ◽  
Service Provider ◽  
Japanese Culture ◽  
Service Experience ◽  
Content Type ◽  
Creation Process ◽  
Experiential Value ◽  
Tea Ceremony ◽  
Value Creation Process

Purpose – Recent discussions of value-in-use from the perspective of service dominant logic have focused on the customer’s determination of value and control of the value creation process. The purpose of this paper is to extend these discussions by exploring the value creation process in the Japanese tea ceremony and in the kaiseki ryori style of Japanese cuisine, which is based on the Japanese tea ceremony. Design/methodology/approach – A historical analysis is used to describe the history of the Japanese tea ceremony in Japan and its influence on Japanese culture. key principles underlying the Japanese tea ceremony and their relationship to Zen Buddhism are summarized and the ways in which these principles are reflected in the service provided by Japanese restaurants are explored. Findings – The two elite restaurants examined in this analysis have designed their service experience to reflect four principles of the tea ceremony: the expression of seasonal feelings, the use of everyday items, ritualized social interactions, and the equality of host and guest. Given these principles, we argue that the tea ceremony and restaurants based on this ceremony imply a co-creation process that is different in three important ways from the process discussed in the co-creation literature. First, the tea ceremony involves dual experiential-value-creation processes. Both the master and the customer experience value-in-use during the delivery of kaiseki cuisine, and the value-in-use each receives is critically dependent on that received by the other. Second, the degree to which value-in-use is created for both parties (the customer and the master) depends on the master’s customization of the service experience based on his knowledge of the customer and that customer’s with the tea ceremony, kaiseki ryori cuisine and Japanese culture. Research limitations/implications – We hypothesize that the dual experiential-value-creation model is potentially relevant whenever the service process contains an element of artistic creation. Potential examples include concerts, recitals, theatre performances and art exhibitions, as well as more mundane situations in which the service provider derives value-in-use from aesthetic appreciations of the service provider’s art. Originality/value – Recent discussions of value co-creation argue that the customer controls the value creation process and the determination of value. The authors argue that the tea ceremony can serve as a metaphor for value co-creation in service contexts where the customer’s value creation process depends on the creation of value-in-use by the service provider.

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