How leaders manage their business models using information

Parnell, Brett; Stone, Merlin; Aravopoulou, Eleni

doi:10.1108/bl-04-2018-0017

Cited by 25 publications

(26 citation statements)

References 59 publications

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“…There is no one right way to manage customers. Companies have become used to the idea of business model (Stott et al, 2016;Parnell et al, 2018), but in the early CRM days, this was not so. Many client companies felt that all they had to do was to develop a customer database and start contacting customers.…”

Section: Competitive Models Of Customer Engagementmentioning

confidence: 99%

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Stone

Woodcock

Ekinci

et al. 2019

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This article reviews development of thinking about the information needed by companies to create an accurate picture of how well they manage their engagement with customers, taking into account the evolution of thinking and practice in this area over the last three decades towards the idea of data-driven customer engagement. It then describes the evolution and use of an assessment and benchmarking process and tool which provide the needed information. Design/methodology/approach: Literature review, conceptual analysis and explanation of the management consulting process used. Findings: Companies can get an accurate picture of how well they manage customer engagement provided that a careful assessment approach is used where assessors are properly selected and trained and that there is a strong focus on compliance with requirements rather than "box-ticking" based upon managers' perceptions. Research limitations/implications: The assessment and benchmarking process was developed mainly for use by larger companies, though the findings could be adapted for use by smaller companies. Practical implications: Companies whose success depends upon customer engagement should consider using the assessment and benchmarking tool to guide their planning and implementation. They should heed the warnings about the risks of inaccurate assessments which may arise because of the incentives by which managers are managed. Social implications: The assessment and benchmarking process has been used by the public sector and government, and given government's desire to engage citizens better, they should consider adopting the ideas in this article to reform citizen engagement. Originality/value: This is the only article which reviews the development of the assessment process for customer engagement.

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Section: Competitive Models Of Customer Engagementmentioning

confidence: 99%

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Stone

Woodcock

Ekinci

et al. 2019

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“…It is stated that the explicit understanding of the public transport service needs will be embedded within the core principals of the service delivery for this sector (Lyons & Harman, 2002;Parnell, Stone, & Aravopoulou, 2018;Ennis & Barnett, 2019). Generally, meeting the critical customer needs involves carefully planned cooperation and business process systems integration, which draws from data collected from registration and service use (Brynjolfsson & McElheran, 2016).…”

Section: Resultsmentioning

confidence: 99%

“…As such, the associated business models require inter-firm operational capabilities (Spring & Araujo, 2009) and business logic that addresses the challenges of survival (Osborne, Radnor, Kinder, & Vidal, 2014;Osborne, 2018). We can draw again on the work of Parnell, Stone, & Aravopoulou (2018), who within their research on the service sectors, determine that within the public sector there is a role that information plays in the business model choice; which is particularly critical if the organisation intends to be able to sustain itself in an era of enhanced efficiency. As such, the service should be able to fully exploit the information to make decisions that enhance service performance, customer quality and product design; and then ultimately the information becomes a dominant factor in the business strategy and operations.…”

Section: Public Services and Business Logicmentioning

confidence: 99%

Servitization 2.0: The Significance of Product and Service Dominant Logics for Public Service Organisations

Ennis¹,

Barnett²

2020

SSRN Journal

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This conceptual paper explores servitization as significant to public service organisations (PSOs) within which there is a requirement to administer lean and sustainable provision. It specifically appreciates that the digital transformation of services has embraced customer processing machine technologies that facilitate volume growth. Notably, the efficient operating model runs alongside the process of information sharing; thus, fostering cooperation within collaborative network systems whilst pro-actively operating as elements of the product-service system (PSS). Design/Methodology/Approach: We attempt to evaluate and progress servitization research for novel and conceptual purposes by exploring the critical realities of its application as we enter the Servitization 2.0 era. We seek to determine from the academic literature the contextual issues and tensions experienced by PSOs at a point in time when they are rapidly digitally transforming their operational activities. With this comes the appreciation that organisations are therefore increasingly operating within interorganisational networks, requiring a more transparent, accountable measurement of their performance outcome. Therefore, since public transport systems are heavily reliant on information collected from their processing machines, to efficiently and effectively execute their service, they provide an ideal field of study. We seek out credible research literature in this field to determine the logic applied within the business ecosystem; and to understand the roles of service-dominant (S-D) and information-dominant (I-D) logic. Findings: Many arguments in the literature demonstrate that it is not necessarily the goods or service element that dominate the business model in the era of Industry 4.0. Pertinently, there is a growing body of empirical studies enabling us to explore business models in this specific field of PSOs, to understand servitization in the context of public transport systems and the future developments of information driven business models. We find that there is a shifting dominance towards information logic and explain how this is evident in the context of public transport services. Originality/Value: We demonstrate the significance of the S-D logic perspective when considering servitization within specific PSOs. Ultimately, we seek to better understand the strategic and operational realities for the era of Servitization 2.0, wherein the business operates within an ecosystem dominated and critically influenced by information. This is pertinent, in that we ultimately seek to understand more deeply the impact of servitization principles within PSOs, and particularly to explore the critical realities within public transport systems that rely heavily on service equipment for their customer processing and service quality and the information generated from its deployment.

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“…This paper is written mainly from the perspective of business-to-consumer (B2C), and also businesses selling to consumers via other businesses (known as B2B2C). We have covered some aspects of these developments in Wright et al (2019), Parnell et al (2018), , Stone et al (2017.…”

Section: Industrial Backgroundmentioning

confidence: 99%

Artificial intelligence (AI) in strategic marketing decision-making: a research agenda

Stone

Aravopoulou

Ekinci

et al. 2020

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144

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PurposeThe purpose of this article is to review literature and thinking about the application of AI in strategic situations and to identify the research that is needed in the area of applying AI to strategic marketing decisions. Design/methodology/approachReview of literature and consultation with marketing experts who were invited to contribute to the article. FindingsThere is little research into applying AI to strategic marketing decision-making. This is needed as the frontier of AI application to decision-making is moving in many management areas from operational to strategic. Given the competitive nature of such decisions and the insights from applying AI to defence and similar areas, it is time to focus on applying AI to strategic marketing decisions.There are strong implications for all businesses, particularly large businesses in competitive industries, where failure to deploy AI in the face of competition from firms who have deployed AI to improve their decisionmaking could be dangerous. Social implicationsThe public sector is a very important marketing decision-maker. Although in most cases it does not operate competitively, it must still make decisions about making different services available to different citizens and identify the risks of not providing services to certain citizens, so this article is relevant to the public sector. Originality/valueThis is one of the first articles to probe deployment of AI in strategic marketing decision-making.

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How leaders manage their business models using information

Cited by 25 publications

References 59 publications

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Servitization 2.0: The Significance of Product and Service Dominant Logics for Public Service Organisations

Artificial intelligence (AI) in strategic marketing decision-making: a research agenda

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