CUSTOMER CENTERED VALUE CREATION

Abstract

This study explores approaches to management of value creation in complex systems and provides a basic method of determining to what extent a system is complex. In doing so it reviews approaches to value creation, the change from goods to services and implications for a business model and associated operational models. The study also examines the elements of value at the point of engagement. The concluding discussion highlights the importance of customer-centered rather than output-centered approaches to operational design and the implications which they have for both product and service offerings.