2 ways Organisations Facilitate Value Co-Creation
An organization can be seen as a person or group of people that has its own functions with responsibilities, authorities, and relationships to achieve its objectives. As I have said in my previous articles, in order for them to deliver value to customers, they have to collaborate with customers and all other people that are involved in the value chain.
You need to understand that organizations vary in terms of size and structure as well as their legal framework. It can be an individual or a department in an entire organization. Before we can refer to any establishment as an organization, they must have a specific service or array of services they are rendering to their consumers.
Also, organizations involved in value co-creation are also united by a common objective. This will also determine the type of relationships that exists between them.
3 Unrevealed Secrets About Value Co-Creation In ITIL 4
If there is any unique concept being introduced by ITIL 4 that is worthy of note, it is the concept of value co-creation. It lay emphasis that both the service provider and the recipients of services have to work together in order to get the desired value from services. Follow me as I throw more light on this concept in this article.
In recent times, organizations have now realized that in order for customers to be satisfied, all stakeholders must be involved in the project. There is a need for large organizations and their partners to work together to deliver the right value to customers.
They need to know what customers are actually looking for in their products and services. They have to ensure that all products and services are developed based on feedback they are getting from customers.
Above all, organizations that delivered services to customers are always referred to as Service Providers. Those that consume services provided by organizations are always referred to as service consumers.
Also, industry regulators and Government Agencies have a role to play when it comes to the issue of value co-creation. Take, for example, the case of National Agency For Food and Drug, Administration and Control (NAFDAC) and SON.
They have to make sure that all products, food, and drugs produced in Nigeria are safe for consumption. This ensures that what is been produced by various organizations is not harmful to human health.
2 Ways Service Providers And Consumers Co-Create Value
It is no longer news that Service Providers and consumers need to work together to co-create values. That means before products and services can be acceptable to end-users, it must have input from consumers that they are willing to serve.
#1 Carry stakeholders along
In co-creating values, service providers need to carry along all stakeholders in the value change. There must be active collaboration between the stakeholders in order to ensure that customers are satisfied.
The organization has to let their partners know where they stand as far as customer satisfaction is concerned. Although it is difficult for some organizations to reach customers directly with good policies and guidelines to those in the value chain, they will be able to serve customers better.
Also, you need to know that organizations that deliver value to customers are referred to as Service Providers while those that enjoy such service are referred to as Service consumers.
#2 Involve the regulators
If an organization desires to create value for consumers, the regulators in that particular also need to be fully involved. The regulators will help the organization to create standardized products that will not harm customers.
Take, for example, the National Agency for Food and Drug Administration and Control in Nigeria have set up procedures to be followed when companies want to register their products. With these procedures, individuals and corporate bodies that want to produce substandard products are discouraged. This ultimately allows consumers to get value for what they are paying for.
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