Importance Of Value Creation
Cost and price of the product play a vital role in the value creation of the company. These are directly proportional to the value …show more content…
This is the step where the product is manufactured as per the R&D and then comes the part where the product is marketed for sales. Marketing is the main step for sales as the product design doesn’t concern to the people unless it is marketed properly. Once it is marketed in a good manner and reaches the users, then comes the quality. Once the product is in market, support is the last step. This helps the users to use the product in the best way possible and to help them if they run into any problems using it. Support may be done in different ways like providing a support line for users to call or provide FAQs on the website …show more content…
Efficiency : Efficiency refers to performing the tasks in less amount of time in a effective way to increase the productivity of the organization. This can be achieved if human resources design a way of hiring to select the best employees and to assign the correct employee to correct task.
c. Customer Responsiveness : In any business, customer is the king. It should take care of the customer and they should be of utmost priority. They have a major role in the company’s value.
A) Internal analysis is the process that helps in analyzing the different processes in the value chain and to determine the strategies like competencies and capabilities.
Organizational competencies are company’s strength in utilizing a good opportunity to increase the value of the company by minimizing the costs or maximizing profits etc.,
Organization capabilities should be considered before taking up an activities. Product production or marketing or any activity must be handle in the best way as per the capability. Any task greater than the capability must not be undertaken as the quality of the product will be affected which in turn will reduce the value of the