The animated view of the customer is far more revealing, allowing much more accurate customer behavior predictions and, thus, customer value maximization.
Contact us today — or request a Web demo — to learn how you can use Optimove to predict customer behavior and easily maximize the impact of every marketing action in order to convert more customers, increase the spend of existing customers and reduce customer churn. Customer Value Maximization Customer value maximization is about personalizing customer marketing efforts to maximize the total revenues that every customer generates for the company.
Or, even more simply, How do we want the firms in our economy to measure better versus worse? It's tempting to consider value simply as a matter of maximizing the short-term financial performance of the organization, says Jensen. Contending with that value maximization approach is "stakeholder theory" which says that managers should make decisions so as to take into account all of the interests of all stakeholders in a firm.
Stakeholders, he notes, include not only financial claimants, but also employees, customers, communities, governmental officials, "and, under some interpretations, the environment, terrorists, blackmailers, and thieves. But by failing to specify how managers should make the necessary tradeoffs among competing interests, writes Jensen, advocates of stakeholder theory fall short, just as do those who narrowly focus on short-term financial gain.
In the excerpt below, Jensen describes a new scorecard to help business leaders and managers keep pace. A firm cannot maximize value, Jensen writes, if it ignores the interests of its stakeholders. But a melding of new interpretations of both value maximization and stakeholder theory is necessary, he writes, to make possible the "long-run maximization of the value of the firm as the criterion for making the requisite tradeoffs among its stakeholders.
Enlightened value maximization recognizes that communication with and motivation of an organization's managers, employees, and partners is extremely difficult. What this means in practice is that if we tell all participants in an organization that its sole purpose is to maximize value, we would not get maximum value for the organization. Value maximization is not a vision or a strategy or even a purpose, it is the scorecard for the organization.
We must give people enough structure to understand what maximizing value means in such a way that they can be guided by it and therefore have a chance to actually achieve it. They must be turned on by the vision or the strategy in the sense that it taps into some desire deep in the passions of human beings—for example a desire to build the world's best automobile or to create a movie or play that will affect humans for centuries.
All these can be consistent with value maximization. I believe there is a serious semantic issue here. Value maximizing tells the participants in an organization how they will assess their success in achieving a vision or in implementing a strategy.
But value maximizing says nothing about how to create a superior vision or strategy. And value maximizing says nothing to employees or managers about how to find or establish initiatives or ventures that create value. It only tells us how we will measure success in the activity. When customers are delighted, the firm makes more money and can afford to pay workers more and meet the needs of other stakeholders. Moreover, customer capitalism is intrinsically moral: human beings are creating value for other human beings.
Drucker presented his radical idea without any hard evidence. Large firms primarily focused on delivering value to customers? It was a stretch of the imagination to accept that a firm like General Motors GM was in business for anything other than to make money itself.
Then a funny thing happened. Customers struck back. In the 21st century, power in the marketplace shifted from seller to buyer. Through the Internet, globalization, and deregulation, customers suddenly had choices, reliable information about those choices and an ability to communicate with other customers. The firm-centric marketplace turned into a customer-driven marketplace. In this new world, firms that were primarily focused on delivering continuous new value for customers began making huge amounts of money.
By , the evidence is in. The shift in power in the marketplace has taken effect and t he Fourth Industrial Revolution is well underway. Firms that focus on continuous innovation for customers and are organized to be nimble, adaptable, and able to adjust on the fly to meet the shifting whims of a marketplace driven by end-users are flourishing, and have become the largest firms in the world.
By contrast, firms focused on shareholder value and being run in the manner of the lumbering industrial giants of the 20th century, are struggling. On the contrary, the competition in the markets makes it necessary to avoid conflicts with other stakeholders, which would result in employee turnover, customer dissatisfaction, or damaged reputation to maximize the firm value. Furthermore, all stakeholders interested in the firm and an increase in the value would also benefit the other stakeholders.
As one of the strongest and most reliable institutions in the banking sector, Halkbank serves its customers through its branches, offices, private transaction offices, and foreign representative offices throughout the country. An important regulation has been implemented to encourage public companies to integrate sustainability issues into their short, medium- and long-term decisions. It is difficult to fit the data, which is one of the most valuable resources of today, to a certain area.
It has become impossible to store all our files in the same place. With Covid, it would not be wrong to say that while humanity is experiencing an event that will take place once every years, this pandemic has caught our way of doing business and in particular the financial sector in an age of change. Mobile Menu. Internet Branch. Retail Corporate Password Security.
0コメント