At the core of the entrepreneurial orientation that is the engine of vibrant, growing, value-creating, customer-first businesses, we find the principles of subjectivism and subjective value.
Businesses aim to develop a positive feeling in their customers, the expectation of an enjoyable and satisfying experience. That’s a big emotional investment on their part. The return on that investment must be high.
Curt Carlson has devoted his life to value creation and innovation — VC&I as he sometimes characterizes it. He has been CEO of SRI, a “pure innovation” company where the business model was to create important new innovations that positively impacted the lives of many people. He talks to Economics For Business about value creation and innovation as a life skill.
Value lies behind every economic exchange. There’s always a value ladder to climb, and there are always higher values you can incorporate in your value proposition.
Negative feedback loops give us the opportunity to improve our service delivery capacity, and the value proposition behind it. Sterling Hawkins has identified the ultimate feedback loop for personal performance. He calls it discomfort.
If firms are dedicated to generation of customer value, all other “values” (for stockholders, stakeholders, the environment and all other claimants) will follow.