Anybody that follows trends on social networks has probably heard of Dave Carroll and his YouTube video about United Airlines and their treatment of his guitar. Yes, it is an interesting story that demonstrates the power of social networks (and the fact that YouTube viewers appreciate a really good video), but there are some real lessons to be learned as well.
If you have not seen it - then have a look below. Within a week of it being uploaded it had more than three million hits and the mainstream media had picked it up - CNN, The Wall Street Journal, BBC, CBS, and many other print and electronic outlets.
Showing posts with label stakeholder value. Show all posts
Showing posts with label stakeholder value. Show all posts
3V's are key for a Successful Customer Focused Strategy
Strategists will be aware of all the usual models: Porters 5 Forces, Ansoff’s Matrix; BCG’s Growth-Share Matrix; 7S McKinsey Model, PEST(LE) model; SWOT analysis; IDIC (Peppers & Rogers) etc. Maz Iqbal in a blog post puts forward the notion that the 3 V's of Vision, Value and Value Proposition are potentially another framework that is relevant and could be used.
He argues that having a vision is key: "The power of a Vision Statement lies in its ability to enroll a diversity of actors (Tops, Middles, Bottoms, Customers, Suppliers...) in an inspiring point of view on the future such that they co-operate in moving towards and creating that future." The point that he makes about taking the different stakeholders along with you is an important one.
He goes on to argue that values are "real - authentic" and "act both as guides and as constraints on what you will and will not do and how you will conduct yourself". They have "another advantage, they allow you to find / attract value chain partners", again having partners that share the same values is pretty fundamental.
Finally he concludes that "If you get the Value Proposition right then you will attract hordes of customers. If you actually deliver on the Value Proposition – the customer experience delivers the value proposition – then you will keep customers and they will get more customers for you through word of mouth."
It makes sense, anything to add?
(you can read the blog post here.)
He argues that having a vision is key: "The power of a Vision Statement lies in its ability to enroll a diversity of actors (Tops, Middles, Bottoms, Customers, Suppliers...) in an inspiring point of view on the future such that they co-operate in moving towards and creating that future." The point that he makes about taking the different stakeholders along with you is an important one.
He goes on to argue that values are "real - authentic" and "act both as guides and as constraints on what you will and will not do and how you will conduct yourself". They have "another advantage, they allow you to find / attract value chain partners", again having partners that share the same values is pretty fundamental.
Finally he concludes that "If you get the Value Proposition right then you will attract hordes of customers. If you actually deliver on the Value Proposition – the customer experience delivers the value proposition – then you will keep customers and they will get more customers for you through word of mouth."
It makes sense, anything to add?
(you can read the blog post here.)
Stakeholder Interests Have to be Balanced
One of the things that I have been trying to do is understand exactly what is required when doing due diligence on a company, whether it is well established or a startup.
Part of that evaluation is undoubtadly understanding why the organisation exists, what the problem is that it solves, and whether its value proposition resonates, but there is another dimension which is equally important - how it approaches the management of its various stakeholders.
While I was researching the topic I came across this article by Charles J. Fombrun on Forbes.com about How To Restore Your Company's Reputation which describes why some organisations have suffered because they have paid more attention to short term financial results than longer term value. The article identifies 7 key indicators that need to be addressed:
Part of that evaluation is undoubtadly understanding why the organisation exists, what the problem is that it solves, and whether its value proposition resonates, but there is another dimension which is equally important - how it approaches the management of its various stakeholders.
While I was researching the topic I came across this article by Charles J. Fombrun on Forbes.com about How To Restore Your Company's Reputation which describes why some organisations have suffered because they have paid more attention to short term financial results than longer term value. The article identifies 7 key indicators that need to be addressed:
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