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The Value Web

Explain what is meant by the Value Web and what effect it can have in the modern business environment today. How would this apply to a company in the financial services sector in particular?

Sample Solution

competencies for Lush include experienced management, influential brand values, and customer engagement. Lush’s original founder, Mark Constantine, is still extremely involved in the organization and its vision development (Sander, 2018). Furthermore, as stated previously, Mr. Constantine has started two companies in the same industry previously. As a result, he has developed a great deal of practical experience which is beneficial for the entire organization. The values that are portrayed by the Lush company are embraced by consumers quite strongly. Since lush is a leader in the movement for cosmetic companies to be environmentally friendly and protect animal rights, consumers often choose them over other brands (Saner, 2018). Consequently, the organization can use its role as an industry ethical leader as a competitive advantage. Furthermore, the competency is more than sustainable due to their adoption of new causes regularly. Some causes that have been recently adopted are unethical police practices, the transgender movement, and denouncing the wrongful imprisonment of individuals based on ethnic identity (Saner, 2018). Consumer engagement is by far one of the greatest competencies the Lush brand has. When entering a Lush store, one would quickly find friendly and helpful service, an intriguing space, and the ability to interact with the products in depth before making a purchase. Furthermore, the competency will become even greater after the initiatives the company has adopted are established. For example, the use of product demonstrations will only increase the consumer satisfaction and make product value expectations better match actual product value. It is also important to note that these product demonstrations allow associates to further interact with customers as they enter. As a result, the organization will experience a stronger stance in their competition with other organizations.
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