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In 2004, Robert F. Lusch and Stephen L. Vargo published their groundbreaking article on the evolution of marketing theory and practice toward 'service-dominant (S-D) logic', describing the shift from a product-centred view of markets to a service-led model. Now, in this keenly anticipated book, the authors present a thorough primer on the principles and applications of S-D logic. They describe a clear alternative to the dominant worldview of the heavily planned, production-oriented, profit-maximizing firm, presenting a coherent, organizing framework based on ten foundational premises. The foundational premises of S-D logic have much wider implications beyond marketing for the future of the firm, transcending different industries and contexts, and will provide readers with a deeper sense of why the exchange of service is the fundamental basis of all social and economic exchange. This accessible book will appeal to students, as well as to researchers and practitioners.
ABSTRACT: Consistent with a robust research design, the constructs and relationships in the model were confirmed using confirmatory factor analysis and structural equations modeling on a 224 responses from a survey of corporate managers responsible for emerging markets marketing operations. The results suggest that the firm's opportunity strategic logic (i.e. opportunity recognition and opportunity creation) acts on the firm's marketing oriented behaviors (market oriented information processing) to configure and deploy a marketing capability that leads to competitive advantages and firm performance. Theoretical contributions point to a leading role for the firm's market oriented information processing in the configuration and deployment of marketing resources under conditions of uncertainty since it mediates the opportunity dominant logic --capabilities -- performance relationship. Recommendations for marketing practice include emphasizing the role of opportunity dominant logic when faced with uncertain markets and encouraging the development of marketing learning processes and local networks as drivers of firm performance.
Innovation is changing and this exciting book explores how the shift to more collaborative ways of working with users, on-line communities and the crowd opens up novel business possibilities. The Innovation Opportunity Space approach enables managers, policymakers and academics to better understand emerging new business opportunities. Drawing on the findings of international research, the book provides a systematic and clear understanding of the radical business models new forms of innovation are making possible. These are explored across a wide range of examples and case studies, with the final chapter including a series a tools for those who seek to capture their own Innovation Opportunity Space​
Expanding on the editors' award-winning article "Evolving to a New Dominant Logic for Marketing," this book presents a challenging new paradigm for the marketing discipline. This new paradigm is service-oriented, customer-oriented, relationship-focused, and knowledge-based, and places marketing, once viewed as a support function, central to overall business strategy. Service-dominant logic defines service as the application of competencies for the benefit of another entity and sees mutual service provision, rather than the exchange of goods, as the proper subject of marketing. It moves the orientation of marketing from a "market to" philosophy where customers are promoted to, targeted, and captured, to a "market with" philosophy where the customer and supply chain partners are collaborators in the entire marketing process. The editors elaborate on this model through an historical analysis, clarification, and extension of service-dominant logic, and distinguished marketing thinkers then provide further insight and commentary. The result is a more comprehensive and inclusive marketing theory that will challenge both current thinking and marketing practice.
This book looks at the critical demands imposed on directors and leaders when faced with corporate risks in turbulent global markets. It shows show why successful risk management outcomes require ethical governance principles and organizational structures that enhance effective risk-taking practices by all actors.
Entrepreneurship is changing. Technology and social networks create a smaller world, but widen the opportunity horizon. Today's entrepreneurs build organisations and create value in entirely new ways and with entirely new tools. Rather than just exploit new ideas, innovative entrepreneurs design organisations to make sense of unlikely opportunities. The time has come to overhaul what we know about entrepreneurship and business models. Models of Opportunity links scholarly research on business models and organisational design to the reality of building entrepreneurial firms. It provides actionable advice based on a deeper understanding of how business models function and change. The six insights extend corporate strategy and entrepreneurship in a completely new direction. Case studies of innovative companies across industries demonstrate how visionary entrepreneurs achieve unexpected results. The insights, tools and cases, provide a fresh perspective on emerging trends in entrepreneurship, organisational change and high-growth firms.
This book elaborates on the combined challenges regarding intrapreneurship, sustainability of human resources management (HRM) and digital transformation faced by today’s organizations. Representing the first such attempt in current management literature, it explores the sustainable HRM approach, which focuses on connecting internal and external factors so as to achieve positive outcomes not only for the respective organization but also for the society, economy, and environment. It also discusses cases related to HRM’s role in establishing a corporate sustainability culture, while also working to promote employee engagement, satisfaction, performance and well-being. In closing, the book discusses the new opportunities provided by digitalization and connectivity in the field of intellectual capital, which make employees the central focus of the organization in order to create sustainable competitive advantages.
The SAGE Handbook of Service-Dominant Logic, edited by Robert Lusch and Stephen Vargo, is an authoritative guide to scholars across disciplines who are conducting or wish to conduct research on S-D logic.
Increasing disruption, diminishing returns, and demanding customers require business leaders to create more value, remain relevant, and stay ahead of competition. CEOs must evolve a "value creation" culture for the company in order to properly balance the interests of customers, employees, investors, and the marketplace. People who succeed, succeed because they create value, but they do so unconsciously. Creating value consciously makes you create more value and destroy less value. Doing something good or improving the well-being of someone creates value. You buy and re-buy a product on a value basis. Value dominant logic is relevant to all of us. Value creation is used in all fields, but is not well understood. This book takes value creation to the next level, showing how value is basic to human endeavor and is not focused on enough even when we try to create value. Most books on value creation focus on creating monetary value for companies. This book suggests that value is greatly created and enhanced by creating value for others. To create value for customers, one must first create value for the providers, including employees, suppliers, and the society at large. The goal is to improve the quality of life and well-being. This book provides ways of implementing these thoughts and educates readers about value and how to create it.
How to implement an innovation engine in any organization Innovation is often sought and is in high demand today. At the same time it is often misunderstood and lacks committed sponsorship. Today, most teams at the top need an innovation capability in a manner that works in tandem with their performance/operations management. Packed with actionable ideas, references, links, and resources, Innovation Engine meets that need. Reveals how to develop strategy, road maps, and processes for innovation execution Provides high level implementation guidance on executing innovation, something companies are struggling with globally Explores how today's companies can create a long-term sustainable corporate culture by also using an innovation engine Explains how to use innovation to keep employees engaged and motivated Written for executives, business leaders, CFOs, and CIOs Showing readers how to create a business case for innovation and a supporting innovation linked to business vision and goals, Innovation Engine clearly reveals how to reduce time-to-market, while expanding the "idea landscape" and building a pipeline of corporate innovators.