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.
Table of Contents
Advance Praise. Value Dominant Logic (VDL): Introduction. 1: Value Dominant Logic. 2: Value and Disruption, Dilemmas and Decision Making. 3: Value, Society and Technology. 4: Value and Education. 5: Value Destruction. 6: The Fundamentals of Value. 7: Value is in Mind of the Perceiver. 8: Value, a Business Perspective. 9: Value .Dissipated, Discarded, Used. 10: Value Re-emerging.
Gautam Mahajan is the thought leader in Value Creation strategy, general management and globalization He is the President of Inter-Link and Customer Foundation and the Founding Editor of global Journal, Journal of Creating Value. He conducts workshops on Value Creation, Customer Value, Pricing and Value, Creativity and Innovation, and globalization around the world and has taught courses on Value Creation at IIT Mandi, IIT Jammu, IIT Gandhinagar, IIT Delhi among others.
Mr. Mahajan previously worked in the U.S. for 17 years with Continental Can, the world’s largest packaging company. He is one of the inventors of the PET petaloid bottle and noise control kits. He commercialized the half liter PET bottle, and aseptic products.
He is the Past President of the Indo-American Chamber of Commerce; Chairman, PlastIndia Committee, Vice President All India Plastics Manufacturers Association, and a Trustee at Plastics Institute of America. He is the author of several books including, Value Creation: The Distinctive Guide for Business Leaders, Total Customer Value Management: Transforming Business Thinking, Customer Value Investment: Formula for Sustained Business Success and How Creating Value Makes You a Great Executive, all of which are best sellers. He holds 18 U.S. patents and has been a featured speaker at several international conferences in Amsterdam, Breda, Tokyo, Chicago, Berlin, Munich, Hong Kong, Orlando, Frankfurt, Antwerp, Shanghai, New York, Toledo, Boston among others.
"Gautam Mahajan opens our eyes to the significant role played by Value, Value creation and Value destruction in our business and personal lives. You will inevitably do things differently and better after reading this book."
Philip Kotler, S. C. Johnson Distinguished Professor of International Marketing, Kellogg School of Management, Northwestern University
"In order to create Value for customers, one must first create Value for the providers, including employees, suppliers, the society at large, etc.' 'The goal is to improve the quality of life, such that the well-being of human actors is continuously improved'. These are the credos guiding this book, expressed by Gautam Mahajan for the development and management of Value. In the book, ways of implementing these thoughts are discussed. This is an important and educating book about Value and how to create Value. I enjoyed reading the book."
Christian Gronroos, Professor Emeritus, Hanken School of Economics, Finland
"Value Dominant Logic certainly clarifies the concept of Value, the need for it to be the dominant thought in all that a good corporation or organisation should be strategizing about. Was very readable. An excellent new contribution to the whole debate on and the need for Value being predominant."
Arvind Pande, former Chairman and CEO of the Steel Authority of India
"One of the biggest myths of today is that technological advances cause disruption. The reality is that the so-called disruptors just find better ways of creating value by making our lives easier and more fulfilling.
This, however, is just one of many aspects of value dealt with in this comprehensive book on the topic.
I have met and worked with Gautam Mahajan and am an avid reader of all his posts on the topic of value, so it was with great joy that I discovered that he had collected together all his knowledge and experience on the topic in this wonderful book.
Gautam is a world authority on every aspect of value and this book is filled with his wisdom. What is remarkable, however, is that unlike so many books, his is an easy and highly enjoyable read to boot."
Professor Malcolm McDonald MA(Oxon) MSc PhD DLitt DSc, Emeritus Professor, Cranfield University School of Management
"This book provides and paints a much-needed broad and rich canvas in relation to a vital issue for the 21st Century - value creation. The book will provide thinkers and practitioners with considerable food for thought and is a provocation to debate. It uses a variety of useful layouts and diagrams in order to make its insightful points and managers and directors will glean many valuable ideas for practice in this timely work."
Professor Peter Stokes (PhD MBA PGCertRDS PGCertTLHE Cert Coach BA(Hons) Snr FEMRBI (Vice-President/Country Director), AGRH (UK Ambassador) FHEA FRSA FCMI), Leicester Castle Business School, De Montfort University, UK.
"If value creation is at the core of your strategy, this book is a must read. I particularly like the perspective and in-depth discussion of value creation for key stakeholders, including customers, employees, partner, shareholders and society at large. It is a beautiful book, I love it!"
Dr. Jochen Wirtz, Professor of Marketing and Vice-Dean Graduate Studies, NUS Business School, National University of Singapore
"This book will revolutionize how you think about, consider and employ Value no matter your position or role in commercial or human activities. It is a "must-read" for any and everyone involved in any type of commercial organization.
Value has traditionally been defined vary narrowly, i.e., the creation of worth by one person or party for another, often viewed through a financial lens. Mahajan, in this wide-ranging text, shows that Value comes in many forms, impacts and influences for many participants and is a key element in all human interactions related to the firm. Value is not just a marketing term or technique, instead it is a holistic, integrated way of thinking about all human relationships and inter-actions which means it influences and impacts all levels of the organization. In this example-laden text, Value is not a "thing" but an interactive system that can be created or destroyed by all participants. It is communication and behaviorally based, reciprocal and ever changing."
Don E. Schultz, Ph D
Professor Emeritus (In Service)
Medill School of Journalism-Media -Integrated Marketing Communications
Evanston, IL USA
"Creating Value incorporates many important concepts, including customer service and the thought process of how people can add value to not only customers, but bosses, fellow employees and more."
Shep Hyken, customers service/experience expert and New York Times bestselling author of The Amazement Revolution
"I often say that, in terms of the evolving role of business in society, we are in the decade of value creation - of rethinking what we mean by value, how we measure value and to what extent we are collectively creating or destroy value. Hence, Gautam Mahajan's book, Value Dominant Logic, could not have come at a better time. By building on his long experience with foundation concepts like customer value, Mahajan casts the net broader and finds that value creation is a helpful lens for other spheres of business and life - whether it be Prof Freeman's concept of stakeholder value or my own notion of integrated value. The book also provides compelling evidence for what I call the 'values dividend', which is the extensive value that is created for society when individuals, communities, companies and governments use self-transcendent (non-selfish) values as their guide for action. At a time when value destruction is still so pervasive in politics and economics, Value Dominant Logic may be the very catalyst we need to turn the tide."
Dr Wayne Visser, Professor of Integrated Value and Chair in Sustainable Transformation at Antwerp Management School