Creating value through customer relationships in the services sector
- Authors: Allie, Hisham
- Date: 2007
- Subjects: Customer services , Value added
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8740 , http://hdl.handle.net/10948/790 , Customer services , Value added
- Description: Many academic studies in the past have focussed on how to create value for businesses in terms of adding profit to the bottom line through performance, and many argue that adding value for the client is also viewed as a profitable business strategy. This strategy translates as a win-win business relationship since long-term relationships ensure customer loyalty, customer retention and repeat business. In the services sector, it is difficult to quantify the worth or value that a particular service has since services are intangible products. The perception of value of such a service is known as “perceived value” since value recognition rests with the consumer who attempts to quantify the worth of that service. It is generally accepted in the services sector that establishing long-term, mutually beneficial, meaningful business relationships add value for the client and helps them to attach a value to the services that company provides. A company cannot establish such relationships without the help of its employees who represents the face of the organisation and implements the value adding strategy on the organisation’s behalf. Recent studies have begun to address this, examining value creation in business relationships in the context of the sale of tangible goods. The process of value creation for customers in services relationships remains underresearched. Perceived value explains why customers choose one particular service over another, why service companies gain competitive advantage by maintaining genuine longterm customer relationships, and why “the personal touch”, created through emotional attributes such as trust, caring and empathy, adds value from customers’ perspective. This dissertation presents a study of perceived value from the perspective of the customer within the context of the delivery of a credence product in a services relationship model. Using grounded theory methodology; following in-depth interviews with consumers of general insurance, a number of customer-value creation dimensions for businesses have been identified. Parallel interviews with members of staff from the supplier company add a further perspective. This research demonstrates how organisations or suppliers in the services industry can add value when delivering a credence product in a services relationship context. It is believed that an understanding of the value-adding dimensions can be implemented to create opportunities to build value for customers, with commensurate benefits for suppliers. Following analysis of the interviews held with each buyer, a total of six value dimensions are identified in the findings chapter. Each dimension is individually described, discussed, and illustrated with quotations from customers and supplier’s staff. Other issues relating to value arising from the interviews are examined in the discussion chapter. Three areas for further research are proposed in the conclusion.
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- Date Issued: 2007
Using value stream mapping to identify waste in the manufacturing of automotive components at Federal Mogul
- Authors: Fry, Peter-John
- Date: 2003
- Subjects: Industrial efficiency , Production planning , Value added , Automobile industry and trade -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:10865 , http://hdl.handle.net/10948/271 , Industrial efficiency , Production planning , Value added , Automobile industry and trade -- South Africa -- Eastern Cape
- Description: This research addresses the application of Value Stream Mapping in the automotive component industry. The goal of this research is to investigate how Value Stream Mapping can identify waste, and to evaluate its benefits on a specific application instance. Value Stream Mapping is used to first map the current state and then used to identify sources of waste and to identify lean tools to try eliminate this waste. The future state map is then developed with lean tools applied to it. A South African company, Federal Mogul South Africa (FMSA), has experienced the impact of globalisation and the need to become globally competitive first hand. FMSA will be used as a case study to illustrate the impact of using Value Stream Mapping as a tool for identify waste and the need for improving the performance of a company’s value stream in achieving the international goals set for the company and its supply chain.
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- Date Issued: 2003