The basic objective of every organization is to create value for its owners. Nowadays, organizations are developing strategies to optimize value, which they can capture from products and services, while minimizing the risk. Increasing competition has led to shorter time-to-market cycles and customers are becoming more demanding in terms of quality. This has forced enterprises to adopt business models that provide operational efficiency and add strategic value to their offering. The value creation process is the bridge built between the purpose of an organization and the value it created. The process and function of value creation encompasses business strategies, management strategies in the domains of customer relations, market orientation, technology, knowledge management, human capital, knowledge process outsourcing, innovation, brand value, employee relations, social, environmental and community factors. Profitability and growth for an organization on a long-term basis can be achieved by developing a continuous chain of products and services for a specific customer segment with unique features. In other words, an organization should put in place a sustainable value creation process. The ability to develop processes adaptable to the market dynamics and emerging advancements in technology is considered to be the core competency that creates value for an organization, which, in turn, stems from the employee motivation and capabilities. This book attempts to capture the whole gamut of ‘value creation’ having various facets and dimensions and showcase them under two broad perspectives, viz., ‘the tangible’ and the ‘intangible’, taking an overview of the business dimensions, the intellectual and people dimensions and the social and ethical dimensions of value creation. If organisations succeed in creating value, not only the investors, but the society at large would be benefited.
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