According to the American Marketing Association (AMA), marketing is defined as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” As I read this definition the word value stands out to me. Adding value is key to effective marketing, yet why is it that we seem to forget that fact in our everyday work life?
It doesn’t matter how you define value. That definition is actually worth a bucket of crap (I missed that one). But I digress and will come back to that question later. Let me address the other part of my title first by asking you a hypothetical question.
As evidenced by recent articles in CIO Magazine, the conversations about IT have moved past merely worrying about alignment and have morphed into programs and discussions of how best to provide business value. This makes the discussion more concrete and useful but one could argue that it hasn’t moved us much closer to solving the underlying problems of properly identifying and driving towards true value to the business.
Today we’re going to let our readers in on a little secret. Actually, it’s a big secret. It is one of the most powerful strategies that you can deploy in a sourcing engagement. And based on our research, it’s one that is almost never used.
Yesterday I flew coach on Delta Airlines from Atlanta to Chicago. . . It was almost an hour into the flight when I realized that I had yet to be offered something to drink. In trying to determine where the delay was coming from, I observed the flight…
Chief Value Officer (CVO) and Supply Chain Management What if each company had a head of “Value Creation and Management?” Perhaps it would be a senior level executive with a title something like “Chief Value Officer” (CVO). What might such an individual be tasked to accomplish, and how…