Co-creating value for luxury brands Tynan, Caroline; McKechnie, Sally; Chhuon, Celine
Journal of business research,
11/2010, Letnik:
63, Številka:
11
Journal Article
Recenzirano
The global market for luxury brands has witnessed dramatic growth over the last two decades but the current challenging economic environment contributes to the difficulty brand owners experience in ...ensuring that customers perceive sufficient value in their luxury brands to compensate for the high prices. According to recent service-oriented research, customers and suppliers co-create value as a result of a shift from a firm- and product-centric view of value creation to one that focuses on personalized brand experiences. In this paper, the authors develop a theoretical framework of types of value for luxury brands, and use case study research to identify processes of value creation in this particular setting. The findings highlight the variety of interactions taking place between luxury brand owners, their customers and members of their respective networks, which help to differentiate luxury brands and co-create a superior value proposition.
Today, the concept of a circular economy (CE) has become omnipresent. Central to this concept is the term value, however, it is not properly defined, which leads to different interpretations, and ...hinders implementation of the CE concept. Hence, this article operationalizes the theoretical concept of value into a more practical understanding. First, the meaning of value within the CE context is examined, followed by the development of a framework wherein value is decomposed into two essential types; functional and created value. Next, the framework is applied to an illustrative case study involving four different end-of-life strategies: landfilling, closed loop recycling, remanufacturing and reusing. The framework enables a holistic comparison of the different strategies, represented in a visually compelling way, and clarifies the connection between theoretical CE concepts and practical measures. Consequently, it enhances the understanding of existing CE indicators and serves as a stepstone for the development of new indicators.
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In this study, we developed a culture-sensitive framework for managing culture change. Building upon the competing value framework (Cameron & Quinn, 1999), we investigated each of the four culture ...types consisting of the framework and identified the major resistance force associated with each culture. Then, we specified how these resistance forces could be addressed with appropriate interventions. We also analyzed 12 likely culture change scenarios arising from the competing value framework-based typology in search of possible interventions that can facilitate the culture transformation of each specific culture change scenario. Twelve propositions were developed from the analysis. Results showed that the competing value framework could be used as a blueprint for guiding culture change in addition to mapping out organizational culture.
Drawing on the cost-value framework, the present study identifies internal and external firm-specific factors as predictors and firm performance as a contingency to explain the level and temporal ...growth of firm investment in training and development (T&D) over time. The theoretical propositions are empirically validated by analyzing multisource longitudinal data from 172 firms over a period of three years. The analysis shows that human capital quality and technology change are positive predictors of the level of T&D investment. The growth curve analysis demonstrates that high-performing firms increase T&D investment when they are managed by professional managers and possess high-quality human capital. By contrast, low-performing firms decrease T&D investment when they are controlled by owners, possess low-quality human capital, and operate under low technology change. The current analysis offers intriguing insights into how firms with differing internal and external situations allocate resources to T&D and increase or decrease their T&D investment over time depending on their performance and resulting financial slack. The current investigation on the temporal trajectories of T&D investment under distinct firm-specific situations and contingencies considerably expands the existing literature based on cross-sectional static perspectives.
Photosynthesis forms the basis of new light-driven biomanufacturing platforms.Circular bioeconomy solutions are key to operating in our planetary boundaries and meeting UN SDGs.Translation and ...commercialization activities are essential to deliver impactful solutions.The Commercialization Tourbillon framework supports innovation translation and commercialization.This helps deliver innovations for optimized economic, social, and environmental benefits.
We are increasingly challenged to operate within our planetary boundaries, while delivering on United Nations (UN) Sustainable Development Goal (SDG) 2030 targets, and net-zero emissions by 2050. Failure to solve these challenges risks economic, social, political, climate, food, water, and fuel security. Therefore, new, scalable, and adoptable circular economy solutions are urgently required. The ability of plants to use light, capture CO2, and drive complex biochemistry is pivotal to delivering these solutions. However, harnessing this capability efficiently also requires robust accompanying economic, financial, market, and strategic analytics. A framework for this is presented here in the Commercialization Tourbillon. It supports the delivery of emerging plant biotechnologies and bio-inspired light-driven industry solutions within the critical 2030–2050 timeframe, to achieve validated economic, social, and environmental benefits.
The goal of this work was to use the Organizational Culture Assessment Instrument (OCAI) diagnostic method to find out the existing and preferred organizational culture in companies in the Czech ...Republic and then to evaluate their dependence on the size of the organizations. Data were collected in 2019-2021 and evaluated using Microsoft Excel and IBM SPSS 24 statistical program, e.g., descriptive statistics tools, one-sample z-test, analysis of variance and
test (Tukey's honest significant difference - HSD). The research was conducted on a sample of 962 companies across the entire republic and fields. The results of the study show that clan culture prevails in the Czech Republic, which was dominant in all six dimensions. Enterprises in the Czech Republic have a mix of organizational cultures in the following order: (1) clan culture (31.72%), (2) hierarchical culture (25.46%), (3) market culture (21.5%), and (4) adhocratic culture (21.28%). However, with regard to the desired cultural mix, this order changes as follows: (1) clan (35.3%), (2) hierarchical (22.91%), (3) adhocratic (22.63%), and (4) market culture (19.17%). Furthermore, it was found that a statistically significant difference was observed in the assessment of organizational culture depending on the size of the organization in the Czech Republic. A limitation of the research could be the unequal number of respondents in 2020 and 2021, which does not allow comparing differences in the time period. This work can serve as a comparative basis of organizational culture with another national culture.
The importance of organizational culture (OC) on entrepreneurial orientation (EO) has long been of interest to scholars and practitioners. Nevertheless, there remains contradictory results about the ...impact of OC on EO. Drawing upon the competing value framework (CVF), I conduct a meta-analysis of 70 papers to better understand this relationship. The result highlights first that, contrary to common thinking, there is not only one particular organizational culture that impacts positively EO. Clan, Market and Adhocracy all have a positive impact on EO. Second, even if each of these OC types has a positive impact on EO, the impact on each dimension of EO (Innovativeness, Risk-taking and Proactiveness) may vary. This result reopens the debate about the uni versus multidimensionality of EO.
Purpose
– This study aims to bridge the gap in understanding the effects of organizational culture on supply chain integration (SCI) by examining the relationships between organizational cultures and ...SCI. The extant studies investigating the antecedents of SCI focus mainly on environments, interfirm relationships and other firm-level factors. These studies generally overlook the role of organizational culture. The few studies that do examine the effects of organizational culture on SCI show inconsistent findings.
Design/methodology/approach
– By placing organizational culture within the competing value framework (CVF), this study establishes a conceptual model for the relationships between organizational culture and SCI. The study uses both a contingency approach and a configuration approach to examine these proposed relationships using data collected from 317 manufacturers across ten countries.
Findings
– The contingency results indicate that both development and group culture are positively related to all three dimensions of SCI. However, rational culture is positively related only to internal integration, and hierarchical culture is negatively related to both internal and customer integration. The configuration approach identifies four profiles of organizational culture: the Hierarchical, Flexible, Flatness and Across-the-Board profiles. The Flatness profile shows the highest levels of development, group and rational cultures and the lowest level of hierarchical culture. The Flatness profile also achieves the highest levels of internal, customer and supplier integration.
Research limitations/implications
– This study is subject to several limitations. In theoretical terms, this study does not resolve all of the inconsistencies in the relationship between organizational culture and SCI. In terms of methodology, this study uses cross-sectional data from high-performance manufacturers. Such data cannot provide strong causal explanations, but only broad and general findings.
Practical implications
– This study reminds managers to consider organizational culture when they implement SCI. The study also provides clues to help managers in assessing and adjusting organizational culture as necessary for SCI.
Originality/value
– This study makes two theoretical contributions. First, by examining the relationships between organizational culture and SCI in a new context, the findings of the study provide additional evidence to reconcile the previously inconsistent findings on this subject. Second, by departing from the previous practice of investigating only particular dimensions of organizational culture, this study adopts a combined contingency and configuration approach to address both the individual and synergistic effects of all dimensions of organizational culture. This more comprehensive approach deepens our understanding of the relationship between organizational culture and SCI.
Escalating drug prices have catalysed the generation of numerous “value frameworks” with the aim of informing payers, clinicians and patients on the assessment and appraisal process of new medicines ...for the purpose of coverage and treatment selection decisions. Although this is an important step towards a more inclusive Value Based Assessment (VBA) approach, aspects of these frameworks are based on weak methodologies and could potentially result in misleading recommendations or decisions.
In this paper, a Multiple Criteria Decision Analysis (MCDA) methodological process, based on Multi Attribute Value Theory (MAVT), is adopted for building a multi-criteria evaluation model. A five-stage model-building process is followed, using a top-down “value-focused thinking” approach, involving literature reviews and expert consultations. A generic value tree is structured capturing decision-makers' concerns for assessing the value of new medicines in the context of Health Technology Assessment (HTA) and in alignment with decision theory.
The resulting value tree (Advance Value Tree) consists of three levels of criteria (top level criteria clusters, mid-level criteria, bottom level sub-criteria or attributes) relating to five key domains that can be explicitly measured and assessed: (a) burden of disease, (b) therapeutic impact, (c) safety profile (d) innovation level and (e) socioeconomic impact. A number of MAVT modelling techniques are introduced for operationalising (i.e. estimating) the model, for scoring the alternative treatment options, assigning relative weights of importance to the criteria, and combining scores and weights.
Overall, the combination of these MCDA modelling techniques for the elicitation and construction of value preferences across the generic value tree provides a new value framework (Advance Value Framework) enabling the comprehensive measurement of value in a structured and transparent way. Given its flexibility to meet diverse requirements and become readily adaptable across different settings, the Advance Value Framework could be offered as a decision-support tool for evaluators and payers to aid coverage and reimbursement of new medicines.
•A new value framework for the evaluation of new medicines is proposed.•A Multiple Criteria Decision Analysis (MCDA) methodology is adopted.•Secondary and primary evidence is used to identify decision-makers’ value concerns.•A generic value tree is structured incorporating different evaluation criteria.•Multi Attribute Value Theory techniques are introduced for preference elicitation.
In 2020, a group of 30 stakeholders from Latin America established 15 criteria for a diagnostic technologies value framework (D-VF) to help assess and inform decisions on diagnostic technologies. ...This article aims to present the operationalization, piloting, and initial validation of the framework for its implementation.
This work was carried out collaboratively with a variety of stakeholders. Three sequential phases were undertaken: (1) operationalization of the D-VF through a literature search for conceptual definitions and assessment tools, (2) piloting of the D-VF through a rapid health technology assessment document applying the methodology of the framework, and (3) a face validation process conducted through a virtual workshop, where usefulness and implementation aspects of the framework were assessed.
The operationalization of the framework was conducted, and a methodological user guide was published. The D-VF criteria were applied in a health technology assessment document on human papilloma virus testing in cervical cancer screening. Also, an open-access training program was developed. Stakeholders agreed on the usefulness of the D-VF for assessment and decision-making stages of diagnostic technologies. However, they highlighted the need to improve technical capacities and the potential for added complexity when applying a D-VF with many criteria. The absence of an established value framework for diagnostic technologies in Latin America and the potential for strengthening technical capacities made the project valuable to those involved.
The diagnostic technologies value framework was shown to be fit for implementation in real-life decision-making settings after the operationalization, piloting, and initial validation phases. Further experiences are important to support its implementation.
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