Posted on by Judy

1. Where are the boundaries of an organization’s value statement? Should it look for these values in itself, its immediate business partners, and/or the partners of its partners? 2. Should the value statement of an organization always match the values of its customers? 3. Why is the measurement of productivity more challenging in the provision of services, when compared to measuring the productivity of a goods-producing operation? 4. Why would high productivity not necessarily guarantee competitiveness?

Answers:
1. An Organization’s Value Statement helps an organization to define its culture, beliefs and guide the perspectives of its actions. In real sense there cannot be any boundaries to an Organization’s Value Statement. It refers to what an organization ought to adhere to in its business activities and decisions. An Organization shall look in itself when it comes to adherence to a set of values. However, when it comes to setting up best practices and values, an Organization shall look over the needs and expectations of its immediate business partners and / or the partners of its partners or the society at large.
2. There is no such mandate that the value statement os an organization shall always match the values of its customers. However, it is advisable to set a value statement that is the best interest of customers as well as the organization at large.
3. In service industry, the measurement of productivity is more challenging as compared to measuing productivity of goods producing operations. The basic sense behind this being; in goods producing operations one can directly corelate the output with the input and thus measure the productivity. However, in case of service industry, it may happen that most of the inputs and efforts go fruitless and only a few efforts contribute to the major portion of productivity. Thus, there does not exist any direct nexus between the input and output as in case of goods producing operations. Hence, making it more challenging to measure productivity in the provision of services, when compared to measuring the productivity of a goods-producing operation.
4. Competitiveness is guaranteed by proper mix of Productivity, Quality and many other factors like new entrants in the business, goodwill etc. High Productivity alone cannot necessarily guarantee competitiveness, it can only add a step to reach the desired level of competitiveness.
 
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