The examination of business strategy improvement globalization skills and process design based on the paradigm of service-dominant logic
The business strategy concept has also been interpreted in a number of ways, with different elements, scopes, and related theories. The construct is commonly defined as “the layout or design of the value formation, distribution, and measures require employed.” Other scholars concur, suggesting additional aspects to the theory and practice of marketing strategies, such as the consumer experience (Baden-Fuller & Haefliger, 2013), psychological (Yunus, Moingeon & Lehmann-Ortega, 2010), or monetary components (Yunus, Moingeon & Lehmann-Ortega, 2010). (Chesbrough & Rosenbloom, 2002). Furthermore, the range of the business strategy build was perceived differently. Several interpretations limit its application to the confines of the business (Osterwalder & Pigneur, 2009; Afuah, 2004). Others, on the other hand, look at the economic model from a network viewpoint (Zott & Amit, 2010).
Finally, scientists have differing opinions on the conceptual independence of the business strategy framework. As a result, some scholars regard the marketing strategy build as a subordinate term to policy that is “the direct consequence of policy but is not a plan in and of itself.” As a result, designing a marketing strategy is the process of putting strategy into action (Velu, 2014). The concept, on the other hand, is described as an objective principle that is unrelated to strategy.
All economic activities, according to Service Dominant Logic (SDL), are manifestations of service. As a result, physical objects are seen as bundles of human information and are a materialized type of service. As a result, physical objects are seen as bundles of human information and are a materialized type of service. A company is thought of as a set of operand and operant tools. Since the organization cannot uniquely mix of value because of its value network, it progressively configures its tools to collaborate with its surrounding environment in order to form pricing strategies with mutual agreement. In the business model design, consumers, suppliers, and other economic actors are cocreators and resource integrators (Ordanini, & Parasuraman, 2011). People and companies with expertise, competences, talents, and experience will improve the relationship between the organization and the value network, resulting in a competitive edge. In the value chain co – production, system can help as a conversational and relational tool, allowing interaction and cooperation between actors in the eco-system.
Since it is abstractly rooted in the service industry but does not adjust a production approach, service-dominant logic allows for the examination of business models from a user ’s perspective. It has significant consequences for the design, method, and result of innovativeness:
1. Innovation is an open process that extends beyond the confines of an organization.
SDL’s collective aspect characterizes creativity as an endeavor that is outwardly focused on the external world. Customers, vendors, and workers must collaborate in order for creativity to be realized. As a result, the consumer has the ability to innovate. Since market orientation change is a process of learning, customer experience can help reduce the risk involved with it.
2. The corporation’s creative ability and capacity are determined by experience and understanding strategic flexibility.
SDL emphasizes the value of operant capital and views expertise as the most important factor. argues that intelligence is the “primary – and possibly the only – basis of competitive advantages.” To expand its depth of knowledge, an organization uses outside (e.g., clients, distributors) and organizational (e.g., staff members) information sources. Using customer awareness to start the innovation and creativity and help a company develop intellectual capital that encourage additional innovation. Companies must develop dynamic skills to efficiently learn and gain information, as per Lush (2011), in order to respond the business model. In this regard, Saluki, Wijewardena, and McColl Kennedy (2011) added an information aspect to the concept of competitive advantage, defining them as “an organization’s ability to intentionally build, expand, or change its information tools, capacities, or habits to seek improved effectiveness.” However, due to a lack of effective distribution channels, organizations struggle to integrate external information sources into the development process.
3. The start of business strategy transition is cooperative new value design.
A new logic or enhancement of the consumer business model kickstarts business strategy renewal. According to Maglio and Spohrer (2013), “value creation can be interpreted as value-strategy design. As a result of technological advances, the conventional reach of resource technology solutions in the value chain proposition design has been expanded beyond economic organizations to include social actors.
Following the stated project idea above my request is for my professor to approve my request to pursue my endeavors in fulfilling this project research.
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