Monday, August 9, 2021

Variety of Value

With a clear business value stream view, all parties can agree on the common value proposition.

Every business is different, they are at a different stage of its organizational maturity cycle, they have their own unique strengths to delight customers and gain market shares. To keep relevant and build competitive advantage, organizations need to discover their hidden value, and the management needs to be driven by concepts such as collective advantage with multilayer return on investments, etc.

 In fact, enhancing the cycle of the business growth is like the treasure hunting journey to discover those hidden gems and create value from it.

Multifaceted employee value
: People are always the most critical asset and capital of the company today. In most traditional companies, there is an attempt to quantify the value of an employee in financial terms only. But there are elements that are harder to put into monetary terms. But nowadays, to unleash the full potential of the business, it’s critical to understand and unlock the total value of people - a total of what the employee brings to a business, now and in the future via multi-dimensional lenses (Quality, Creativity, and Productivity, etc.). Business leaders have to dive deeper to see the hidden value of their people by asking: How do you put a value on what an employee can add or take away from culture? How do employees impact efficiency or productivity? How does a creative employee help the organization discover the new way to do things, hence saving the cost or improving the revenue.

The true value of an employee is demonstrated when the employee brings the advanced mindset, knowledge, skills, abilities and personal attitude that translates into expected performance outcomes; acts as an ambassador of the organization to create strong business value, has the capacity to be resilient towards change and acts as a change agent; possesses a capacity to attract and retain quality talent, so they can bring multifaceted value in a qualitative or quantitative way. Culture is collective mindset, attitude, and behavior. Thus, discovering and unleashing hidden culture value is also crucial to explore the new possibilities, better ways to do things, refine those raw gems into the differentiated advantage, and improve the business maturity.

Triangulated Information Technology value: Information is the source and technology is an enabler of any great ideas. Running IT as a support center only is simply not enough for building differentiated business competency. There are tangible (cost savings, efficiency, productivity etc.) and intangible (brand equity, sales enablement, etc.) components of IT value proposition. The value of information technology must be qualitative, measurable, and defined uniquely by an organization as the maturity of IT often decides the level of the overall organizational maturity. Each IT organization has to develop a set of capabilities that enable it to achieve successful outcomes, whether financial, brand, or double bottom line.

There are business-oriented responsibilities on the horizon IT should take, and there is vertical permeation IT needs to make for accelerating business performance. It is important to triangulate IT value from a different lens in building a comprehensive IT value proposition. To maximize IT-driven business value, IT and business have to speak the common language and communicate empathetically for discovering hidden value of the business, improving the growth capacity and maturity of the business and rebrand IT as the trustful business partner.

Holistic system value:
Exploring our vision from unleashing human potential to system potential helps to create common rationale between perspectives, engenders new perspectives, accomplish multiplexing tasks, and unlock the hidden value of our modern world. Businesses have many variables. There are many factors that influence and have an impact on their maturity. If you pick the right one to change and discover the untapped leverage, perhaps you could achieve significant business advantage. Organizations are systems that demonstrate diverse forms of values such as employee value, customer value, supplier value, channel partner value, alliance partner value, managerial value, and societal value, besides economic value etc. So it needs to create the alternative value index-comprising multidimensional value lenses. With a clear business value stream view, all parties can agree on the common value proposition.

The purpose itself is a multidimensional system, to keep the business system firm, think of the quality of systems. Every business system has its position in the hierarchy of systems. The highly complex and dynamic system needs to be elaborated in a well-organized effort. The value chain processes produce goods and services and deliver them to the customers. Business value is multi-faceted and it’s interesting to see how business value is in the eye of the beholder. Therefore the value chain process is the flow of activities, which include what managers, employees and applications do. Business Value works in conjunction with priority, so if you have some capacity in an iteration, and are looking to pull it from the backlog, you can grab that high value.

Business value is an informal term and could mean different things to different people. The whole value chain needs to be aligned, engaged, contributing so customers and stakeholders get their fair share, and define the ideal business model, distribution, products & services, and business brand. Business management needs to properly understand all elements of value that are translated to the organization, and how all the pieces and parts of the organization are ultimately impacted, for good or bad, by each new business initiative, in order to run a value-added business with pragmatic advancement.


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