Creating value, is a strategic process and as such, demands a focus on the entire enterprise. In fact, the word “strategic” is defined as “of great importance within an integrated whole”, which underscores the need to look at every segment of your operation.
While companies realize the need to integrate value creation throughout all segments of their operation, many really don’t know how to implement it. One of the key principles of value creation is ensuring that your company meets the needs of its customers. This involves listening to your customers and understanding their needs.
Potential customers or prospects today are not interested in you, your company or your offerings. They are interested in their needs, and how you can help them meet their challenges. You must convince them that you and your company are not merely there to make a sale. You must demonstrate your willingness to be involved in helping them take their ideas to reality.
Strategic Six Sigma, Best Practices from the Executive Suite, ( ISBN 0-471-23294-7) states, “…Strategic Six Sigma isn’t just about improving business process performance—it’s about fundamentally transforming the relationships companies maintain with their employees, customers, suppliers, shareholders, analysts, and even competitors. It let’s you view your business from your customer’s perspective so that you can exceed customer expectations and marketplace requirements…”
There is no single applies-every time formula for value creation. It is something you must work at all the time for it to be effective. Company policies can and do impact the creation of value. Remember, a company is not just a compilation of buildings but a powerful force whose impact affects many people. It is a living member of the community in which it is located.
Franklin Cooper © 2019