What is values-based service? How can a company create value for customers and other stakeholders?
Values-based service is defined as service that is firmly based on the core company values as well as social and environmental responsibility. When the core company values and the social and environmental values are in accordance with the values of customers and other stakeholders, resonance (rather than dissonance) occurs. To be successful, a values-based service business must seek resonance with its customers and other stakeholders in terms of values and avoid any suggestion of dissonance. Companies, such as IKEA, nurture and communicate values in their customer relationships.
Read the article “Values-Based Service Brands: Narratives from IKEA” by Edvardsson from the readings for this module. Using IKEA as the company in point, conduct research.
Based on your research, write a report addressing the following points:
- Assess IKEA’s strategy using the criteria listed below:
- Intangible Products (1 page)
- Explain IKEA’s intangible products and benefits.
- Explain how other firms employ this concept of intangibles to erect barriers to entry for competitors.
- Explain how the concept of intangible benefits is used to increase profits.
- Performance Measures (1 page)
Suppose you are a vice-president of manufacturing for IKEA and are responsible for establishing operating performance measures.
- For all of the performance factors other than quality and cost, create a set of 4–6 performance measures for evaluating your managers that integrates IKEA’s values (economic, social, and environmental) as discussed in the article written by Edvardsson.
- For each performance measure, identify one specific process measure that demonstrates how well these values are being upheld in the manufacturing activities including suppliers of the company.
- Recommend how you would develop the workforce to livethese values in the workplace. Suggest types of hiring, training, and performance management criteria that you will apply to the workforce.
Write a 6–8-page paper in Word format. Please use 3–7 scholarly articles in your research. Apply APA standards to citation of sources.
Then, develop a short 6–8-slide Power Point presentation (not including the title and reference slides) covering the same information. Include headings for each slide, and provide your talking points in the notes section to explain the content if the presentation is given verbally.