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عنوان فارسی مقاله:

پیکربندی های موثر از ایجاد ارزش و توانایی های ثبت: گسترش رشته های ارزشیابی و ارزشمند Wiersema


عنوان انگلیسی مقاله:

Effective configurations of value creation and capture capabilities: Extending Treacy and Wiersema's value disciplines


سال انتشار : 2016



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بخشی از مقاله انگلیسی:


2. Theoretical background and propositions 

2.1. Treacy and Wiersema's typology Focusing on the value created by a firm, and how and why customers appreciate it, Treacy and Wiersema (1993, 1995) identify three value disciplines. To create competitive advantage, a firm can choose product leadership, operational excellence, or customer intimacy as its strategy. Firms pursuing product leadership strive to produce a continuous stream of innovative products and services and permanently look for new solutions to their customers' problems (Treacy & Wiersema, 1993). Operational excellence describes firms that are industry leaders in terms of price and convenience, because they minimize internal cost, such as by eliminating unnecessary production steps or optimizing business processes. Finally, firms pursuing a strategy of customer intimacy shape and adapt products and services to fit customers' needs, prioritizing the lifetime value of the customer relationship over initial costs (Treacy & Wiersema, 1993). So, the three strategies create competitive advantages by offering customers high product performance, the lowest costs, or the most customized solution and least hassle, respectively. Similar to most typologies (e.g. Miles & Snow, 1978; Porter, 1980), Treacy and Wiersema's types represent universal strategies for firms to pursue and achieve superior performance. However, depending on the circumstances (e.g., stage of technological maturity in the market or industry sector), different distributions may arise. For example, in technologically mature markets, operational excellence and customer intimacy may be dominant strategies, even if firms adopting a product leadership strategy could prevail as well. In contrast, in more technologically dynamic markets, product leaders may dominate and compete for market share with operationally excellent firms, which emerge once the technology has proven useful for serving more stable market segments. Across industry sectors, asset-intensive sectors may ward off new entrants, which seek to compete through product leadership or customer intimacy, and mainly consist of cost-driven firms that strive for operational excellence. The energy and airline industries represent good examples of such a setting. A comparison of Treacy and Wiersema's (1993, 1995) typology with Porter's (1980) generic strategies of differentiation, cost leadership, and focus reveals some important differences: Treacy and Wiersema emphasize the bond between firms and customers and customers' perceptions of the value delivered. For all three types of market leaders, the focus on customer value is part of the corporate culture and acts as a dynamic capability that safeguards organizations' competitive advantage. Such firms remain sensitive to the value delivered to customers and understand that customers perceive not absolute but relative value; customers compare any product (or service) against current and new alternatives in the marketplace and look for noticeable value differences.



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