From Products to Solutions: Value of Corporate Consulting Arm and Organizational Transition
Date Issued
2010
Date
2010
Author(s)
Lee, Yi-Hang
Abstract
Transforming from a manufacturer to a solution provider is a growth strategy attracting scholarly attention and practitioners’ interest today. Adding a consulting arm or business function is common to this transition. Based on 8 solution-based companies which were once capital goods providers, the thesis discovered that with consulting arms, firms are better able to offer their customers with the value of four kinds: improvement of operating performance, higher returns on assets, mitigating risk, and enabling market expansion.
These values are created by identifying customers’ needs and putting them in the centre of all decisions. Hence, the new approach demands a close relationship with their customers in the value creation process and a overhaul of business process. In addition, a framework of managing the possible internal conflicts in the transition process is also built. Companies can manage this potential conflict by constructing a customer-centric hybrid structure and reward system, deploying new mindset and manpower, and create corresponding performance metrics.
Subjects
Solutions
solutions provider
SDGs
Type
thesis
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