When it comes to the GWC Valve International company, one really important thing for them is their customers and being able to provide customer value at their firm. Customer value is the combination of quality, time, flexibility, customer experience, innovation and the price of all of this. It is important for any big firm to do a market analysis which allows you to develop a customer driven strategy used to understand a customer’s wants and their needs and how you can provide these for them.
There are six competitive priorities which is the qualities that you want to have as a business and normally you are never really able to focus on all of them at once therefore you focus on a few of these at a time and it often requires trade-offs of one to achieve another. The six competitive priorities are time, flexibility, cost, quality, customer experience and innovation. Companies more and more today have been focusing on two or more such as having their products and services at a lower cost but still giving the customer the experience that they are looking for or the quality that they are looking to receive with what they purchased even though the cost is lower.
There are also some new trends in operations management such as the productivity of the outputs over inputs in a company, the global competition such as transportation and communication, loosened regulations, increase in demand, competitive cost advantage and reduced international trade barriers, then there is sustainability which is crucial in today’s society. When it comes to sustainability in a organization, there is the triple bottom line which is having a sustainable society, the profits/economy is the net profit, then you have the planet/environment is the sustainable practices and then you have the people/equity which leads to satisfied employees. This is how you get a sustainable business and including this into your competitive priorities will drive your sales and make your customers happier.