Value innovation the strategic logic of high growth. Value innovation: The strategic logic of high growth 2022-12-14

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Value Innovation The Strategic Logic of High Growth

value innovation the strategic logic of high growth

The company is now targeting Asia. It attracted not only business-class customers but also full-economy-fare and first-class passengers of other airlines. In the mid-1980s, the budget hotel industry in France was suffering from stagnation and overcapacity. Harvard Business Review January-February : 82-97. How to Promote Value Innovation Value innovation is defined as "the simultaneous pursuit of radically superior value for buyers and lower costs for companies" p.

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Value innovation: The strategic logic of high growth

value innovation the strategic logic of high growth

Such modules forfeited the efficiency and information advantages of an integrated system, which allows real-time data exchange across a company. Sometimes what buyers value changes fundamentally, but companies that are focused on benchmarking one another do not act on -- or even perceive -- the change. Within three years of its start-up, Compaq joined the Fortune 500. Mar Solutions o o o Fully WEB Based HL 7 Interface Drug Management n n n o o o o Provides ability to manage drugs used throughout the facility Medi-Span integration which provides drug interaction alerts, etc. On those, Formule 1 offers less than many no-star hotels do. With those innovations, which were on the product and service platforms, Virgin attracted not only a large share of the industry's business-class customers but also some full-economy-fare and first-class passengers of other airlines. In order to give most moviegoers a package they would value highly, the company put aside conventional thinking about what a theater is supposed to look like.

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Value innovation: the strategic logic of high growth

value innovation the strategic logic of high growth

Viewing rooms at Kinepolis have up to 700 seats, and there is so much legroom that viewers do not have to move when someone passes by. They found that the thinking of less successful organizations is often dominated by the idea of staying ahead of the competition. Having reframed the company's strategic logic around value innovation, senior executives must ask the four questions that translate that thinking into a new value curve: Which of the factors that our industry takes for granted should be eliminated? The real test is, will most buyers still seek out our products even if we don't market them? The Three Platforms The companies we studied that were most successful at repeating value innovation were those that took advantage of all three platforms on which value innovation can take place: product, service, and delivery. And create new features that your industry has never offered. The company thought as if it were a new entrant to the market. Asking the full set of questions -- rather than singling out one or two -- is necessary for profitable growth.

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PPT

value innovation the strategic logic of high growth

What happens once a company has created a new value curve? All aired shows in the same time slot and competed on their analysis of events, the professionalism with which they delivered the news, and the popularity of their anchors. In contrast, value innovators ask, What if we start anew? If current and planned offerings consist of a lot of migrators, reasonable growth can be expected. Until the 1980s, business-application-software makers focused on subsegmenting the market and customizing their offerings to meet buyers' functional needs, such as production management, logistics, human resources, and payroll. The rooms themselves are modular blocks manufactured in a factory -- a method that results in economies of scale in production, high quality control, and good sound insulation. Virgin spotted an opportunity. And we compared the two groups of companies along dimensions that are often thought to be related to a company's potential for growth. Within three years of its launch, Compaq joined the Fortune 500.

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[PDF] Value innovation: the strategic logic of high growth.

value innovation the strategic logic of high growth

What's wrong with strategy? HBR July-August : 172-180. Value innovation follows a different logic. When Virgin first challenged the industry's assumptions, its ideas were met with a great deal of skepticism. We take a clean-slate approach. Those companies shoot for the core of the market, even if it means that they lose some of their customers.

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Value Innovation: The Strategic Logic of High Growth

value innovation the strategic logic of high growth

As one of Virgin's executive puts it, "We don't let what we can do today condition our view of what it takes to win tomorrow. User-friendliness was becoming more important to customers than the latest technology. Successful innovations contribute to better quality, higher productivity, lower costs and increased profits. Competitive Strategy: Techniques for Analyzing Industries and Competitors. No other company had ever achieved that status as quickly. Too often, managers trying to create a value innovation focus on the product platform and ignore the other two. In stark contrast, high-growth companies pay little attention to matching or beating their rivals.


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Europe PMC

value innovation the strategic logic of high growth

And first class was a big cost generator. Compaq observed, however, that the majority of customers used only a small fraction of a server's capacity. The airline decided to channel the cost it would save by cutting first-class service into value innovation for business-class passengers. Instead, they sought to make their competitors irrelevant through a strategic logic we call value innovation. Explains the difference between a business model and a competitive strategy. Focus on what the majority of your buyers value.


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(PDF) Value Innovation: The Strategic Logic of High Growth

value innovation the strategic logic of high growth

A value innovator thinks in terms of the total solution customers seek, even if that takes the company beyond its industry's traditional offerings. But the company is not exploiting its potential for growth and risks being marginalized by a value innovator. The competition is not the benchmark. Harvard Business Review January-February : 83-93. How Has Compaq Stayed on Top of the Server Industry? Second, Virgin offered free transportation to and from the airport -- initially in chauffeured limousines and later in specially designed motorcycles called LimoBikes -- to speed business-class passengers through snarled city traffic.

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Value Innovation: The Strategic Logic of High Growth (HBR OnPoint Enhanced Edition)

value innovation the strategic logic of high growth

Why do some companies achieve sustained high growth in both revenues and profits? By innovating on the service platform, Compaq created a superior value curve and expanded its market. The value innovators we studied all have been pioneers in their industries, not necessarily in developing new technologies but in pushing the value they offer customers to new frontiers. Struggling to stay ahead of your rivals? From the 1960s to the 1980s, the movie theater industry in Belgium was declining steadily. Many viewing rooms have 70-millimeter projection equipment and state-of-the-art sound equipment. We were struck by what emerged from our content analysis of those interviews. Value innovators often cross those boundaries. The Five Dimensions of Value Innovation Logic Strategy Industry Assumptions Industry's conditions can be shaped.

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value innovation the strategic logic of high growth

To answer that question, Insead professors W. Why do some companies achieve sustained high growth in both revenues and profits? Customers A company should retain and expand its customer base through further segmentation and customization. CNN's value innovation was not challenged for almost ten years. As customers and technologies change, each platform presents new possibilities. Conventional Logic Versus Value Innovation Conventional strategic logic and the logic of value innovation differ along the five basic dimensions of strategy.

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