if an organization considers 'service-dominant logic' in its offering allows management to gather information that can be used to strategize and improve the quality of services:

 
Dear Mohammed,
Offering high-quality products to the customers contributes to adding value.  According to Vargo and Lusch (2008)
if an organization considers ‘service-dominant logic’ in its offering allows management to gather information that can be used to strategize and improve the quality of services: done by collaborating with the customer as a co-producer and co-creator of value.
Service-dominant logic focuses on co-creation, inclusion and meaningful engagement with all stakeholders that allows for modification and extension of the content: ultimately leads to sustainable product or service.
How important is it for management to focus on service-dominant logic?
Best,
Riaz
Reference
Vargo, S.L. & Lusch, R.F. (2008) “Service-dominant logic: continuing the evolution”, Journal of the Academy of Marketing Science, 36, pp. 1-10.
 
Last 22 hours ago
 
Good Evening Everyone,
 
For my initial post I would like to discuss the UK’s output per hour (GDP) for 2012.
Output per hour in the UK was 21 percentage points below the average for the rest of the major G7 economies in 2012, the widest gap since 1992. UK’s output per worker was 25 percentage points below the G7 2012 average (ONS, 2014).
 
According to Davies (2017), British productivity was 9% below the OECD average in 2007, widening to 18% by 2015, so this is a long-term problem for the economy. In addition to the harsh economic conditions suffered by all developed economies, the UK also exhibits weak management. During the economic downturn, banks’ attempted the rebuild capital which constrained their lending, this led to new, more productive and innovative organisations struggling to raise sufficient capital for growth. The new companies either did not expand, or sacrificed labour for capital to fund their ventures. The low interest rates were blamed for the low productivity as it allowed the heavily indebted companies that were underperforming to survive for longer than they would have done ordinarily.
 
The Bank of England has also acknowledged that productivity would have been an estimated 1% – 3% higher should the UK had raised its interest rates to pre-crisis levels during the recovery phase.
 
This is an interesting point to have been made, however, will the UK’s productivity improve once the older underperforming companies finally fail. Is there sufficient capital available for innovative new companies?
 
 
 
Kind Regards,
 
Joe
 
 
 
References:
 
Davies, H. (2017) Why is productivity so low since the crisis – particularly in the UK? [online} Available at: <https://www.theguardian.com/business/2017/jun/21/productivity-crisis-uk-real-wage-growth>
[Accessed 26 April 2018]
 
ONS (2014) International Comparisons of Productivity – Final Estimates, 2012. [online] Available through: Office for National Statistics website <https://www.my-course.co.uk/pluginfile.php/278999/mod_hsuforum/intro/Discussion%205%20%206%20ONS.pdf>
[Accessed 26 April 2018]
 
 
Reply
9 replies
 
1.
 
Post by Vanya Campbell
9 days ago
Re: Unit 5 & 6 – Initial Post
Hi Joe
Thank you for your interesting post and for your comments about the UK GDP. In answer to your question, I think that yes, in part, if underperforming companies and banks were to close, this would boost the capital for other, more innovative companies to lead the market. However, your comments about weak management also resonate, the lack of consistent rules and regulations across the country and business and tax rates are quite high, which makes it difficult for new businesses to emerge and current businesses to sustain production. There are many businesses in my town centre that are no more, ones that have been around for many years can no longer afford the rates to have a shop. This compounded with people purchasing online has created the crisis. Businesses need to evolved to stay current and the government should do more to support successful businesses and stop using the tax payers money to bail out failing businesses, as they are a drain on the economy.
Another angle the government could take to improve the economy and GDP, is to provide better education. In years gone by the education in the UK used to be highly regarded but now, as suggested by Espinoza (2015), many young people in the UK do not have basic maths and English skills. A new report from the OECD shows that the “UK took the 20th spot below Poland and Estonia in the ranking of 76 countries when it comes to the average performance on international student achievement tests”. If these statistics can be improved, the UK economy would grow monumentally.
Do you think the UK should invest more in education to improve our skills and encourage innovation? Would this also improve our economy and GDP?
Regards
Vanya
 
List of References
Espinoza, J. (2015) Want to add trillions to the UK economy? Improve education. Available via the Telegraph onlinehttps://www.telegraph.co.uk/education/educationnews/11600587/What-to-do-to-add-trillions-to-the-UK-economy-Do-better-than-Vietnam-and-Poland.html [Accessed: 27 April 2018]
Reply
1 reply
2.
 
Reply to
Vanya Campbell from Joseph Fowler Parent of this post↑
6 days ago
Initial Post
Good Evening Vanya,
 
Thank you for commenting on my post and agreeing with some of the points that I had made. You made a great point suggesting that the government ought to prioritise tax payers money better, by channelling support for the successful organisations rather than the failing ones.
 
The main suggestion that you made regarding improving education to boost the economy and GDP is definitely a valid one which I have looked into.
 
According to Chalabi and Arnet (2013) between 2008 and 2010 where the UK’s and OECD countries GDP fell by an average of 2%, however, the UK’s public expenditure during this time rose to in excess of 8% compared to the 5% increase of OECD countries. So it is evident that the UK attempted to improve education, but was this enough?
 
Partington and Monaghan (2017) state that Britain is attempting to change its poor productivity by providing additional funding for artificial intelligence, skills and technology. The government also plans to partner with industry and trade unions to improve training so that desired science, technology and maths skills can be improved and help increase productivity.
 
Interestingly, Partington and Monaghan (2017) also stated that £500m was being provided to bolster the number of high-tech and innovative companies in Britain. So it would appear the the government are now looking to back these innovative new organisations, just as we previously mentioned.
 
Increased spending on education would surely improve the skills of the UK workforce, however, if this does not improve productivity then perhaps it could be down to the management of these businesses?
 
 
Kind Regards,
 
Joe
 
 
 
References:
 
Chalabi, M. & Arnet, G. (2013) Education spending: how does the UK compare? [online] Available at: <https://www.theguardian.com/news/datablog/2013/jun/25/education-spending-uk-compare>
[Accessed 30 April 2018]
 
Partington, R. & Monaghan, A. (2017) Budget focus on skills and technology aims to bolster UK productivity. [online] Available at: <https://www.theguardian.com/uk-news/2017/nov/23/budget-focus-on-skills-and-technology-aims-to-bolster-uk-productivity>
[Accessed 30 April 2018]
Reply
3.
 
Post by Riaz Anwar
9 days ago
Re: Unit 5 & 6 – Initial Post
Dear Joe
Thank you for your contribution.
You have touched on productivity; measures of productivity can be used to inform estimates of an economy’s ability to grow without generating excessive inflationary pressure, which highlights the importance of understanding movements necessary for the conduct of monetary policy.
In this context, one of the key challenges has been to understand what has contributed to weakness in productivity. In your view, what are the contributing factors? For instance, could it be cyclical elements related to demand conditions or more persistent causes associated with the financial crisis?
Best,
Riaz
Reply
1 reply
4.
 
Reply to
Riaz Anwar from Joseph Fowler Parent of this post↑
5 days ago
Unit 5 & 6- Initial Post (Productivity)
Dear Riaz,
 
Thank you for commenting on my initial post, and for you question regarding what are the contributing factors to the weakness in productivity.
 
Tetlow (2017) suggests four reasons why UK productivity still is underperforming:
 
1) Insufficient investment from organisations – new technology and machinery would improve productivity but investment has grown slowly since the economic downturn. Capital spending for organisations is a mere 5 per cent above the pre-recession peak, there was a 60 per cent increase in the decade after the 1980s recession and 30 per cent increase after the 1990s slowdown.
2) Productivity should be measured differently – The known difficulties in measuring GDP means that the productivity figure could be misleading. There are difficulties measuring the contribution to GDP from new digital technologies, therefore, productivity may be understated in this area for example.
3) Interest rates too low – again this point confirms that the record-low interest rates drastically reduces companies’ borrowing costs, which allows for unproductive companies to avoid going bust. Interest rates were cut to 0.5 per cent in contrast to above 10 per cent during the 1990s recession.
4) Businesses have retained unproductive employees – in previous recessions large numbers workers were made redundant, this did not occur in aftermath of the recent crisis. Unemployment rose to 8.5 per cent of the workforce after the 2008 recession compared to 10.7 per cent in the 1990s recession. Retaining workers was costly over the short term and damaged productivity as demand reduced but employment remained. It was also claimed that changes to state pensions and benefits are likely to have played a part in the higher number of people willing to remain in work.
 
It would appear that the government has helped to ensure people remain in work, but this has had an adverse affect on productivity.
 
 
Kind Regards,
 
Joe
 
 
References:
 
Tetlow, G. (2017) Four theories to explain the UK’s productivity woes. [online] Available through the Financial Times website at: <https://www.theguardian.com/uk-news/2017/nov/23/budget-focus-on-skills-and-technology-aims-to-bolster-uk-productivity>
[Accessed 1 May 2018]
Reply
5.
 
Post by Riaz Anwar
4 days ago
Re: Unit 5 & 6 – Initial Post
Dear Joe,
Thank you for your comprehensive response.
Have a look at the attached article: it is an interesting read.
Best,
Riaz
 
Productivity Improvement Report MCA(2).pdf
Reply
6.
 
Post by Mohammed Hassan Ali Darwish Alblooshi
2 days ago
Re: Unit 5 & 6 – Initial Post
Hi Joe
 
First, it must be understood what productivity entails. Productivity for that matter is the outcome arrived at when the GDP of a Nation is divided by the number of hours worked. It must be known that employment rates in the UK had risen to a significant percentage of about 4.3 something that economist argue to be good news to the workers in the UK but to some extent, it slowed productivity (Pessoa & Van Reenen, 2014).
 
The underperforming companies are some of the drawbacks that economist claims to be the reason for low productivity in the UK and if these companies failed, it would increase productivity in the UK. This is a claim that economist conquers because of the existence of unproductive people who work in the UK and are rather supposed to be unemployed in other countries (Pessoa & Van Reenen, 2014).
 
In the quest to solve the poor productivity in the UK economist have claimed that this can be solved if the UK invests in new innovations which majorly consists of new machines and technologies (Goodridge, Haskel & Wallis,  2013).  This will then help workers to produce more in a lesser time something that automatically increases productivity.
 
However, this has not been possible and economist blames the crisis which led companies to fail to access credit from banks as they try to reinstate their balance sheet. With that in mind, it is then evident that there are no sufficient funds for the UK to start and run new innovations that would upscale the productivity level of the UK.
 
It is also important to note that because banks of the UK are struggling on their balance sheets, the UK’s economy is therefore weak and cannot sustain new infrastructures(Goodridge,  Haskel & Wallis, 2013).
 
Regards,
Mohammed Alblooshi
 
 
References
Goodridge, P., Haskel, J., & Wallis, G. (2013). Can intangible investment explain the UK productivity puzzle?.National Institute Economic Review, 224(1), R48-R58.
 
Pessoa, J. P., & Van Reenen, J. (2014). The UK productivity and jobs puzzle: does the answer lie in wage flexibility?.The Economic Journal, 124(576), 433-452.
 
Reply
7.
 
Post by Riaz Anwar
2 days ago
Re: Unit 5 & 6 – Initial Post
Dear Mohammad, Joe, and Class,
 
Thank you for your insightful discussion on GDP and productivity.
 
GDP is primary yardstick used to assess the health of a country’s economy. Therefore a fall in GDP is not a good sign: critical factor success of an organization is investing in innovative strategies (Edgett, 2014).
Improved productivity is critical for economic growth, but the issue is ensuring sustainable productivity because demand and supply is an influencing factor and these two elements are a moving feast.
Demand growth changes with spending power.
What measures can organizations undertake to ensure sustainability?
 
 
Best,
 
Riaz
 
Reference
 
Edgett, S.J (2014) Innovation: A Critical Capability [Online] Available from: http://www.stage-gate.net/downloads/wp/wp_51_English.pdf (Accessed: 4 May 2018).
Reply
1 reply
8.
 
Reply to
Riaz Anwar from Mohammed Hassan Ali Darwish Alblooshi Parent of this post↑
1 day ago
Re: Unit 5 & 6 – Initial Post
Hi Riaz,
 
Sustainability of an organization implies to the continuity of its projects and sustaining of its objectives under any circumstances, whether under outside funding or on its own. There is the misconception that sustainability is all about finances of an organization which is not the case. An organization enjoying sustainability thrives well even when conditions are working as desired.
 
The sustainability of an organization takes various dimensions as I will discuss in this paper.
Strategic sustainability works with setting up goals, visions and objectives which are realistic and workable. There is the need for an organization to allocate the available resources wisely to ensure that they sustain all the needs (Jebe, R, 2011). Realistic visions in an organization ensure that other activities in the organization take the same path.
 
Personnel sustainability works with the main aim of ensuring that employees know their roles in the organization. By understanding what is expected of them, employees work towards achieving what is expected of them. This avoids confusion and duplication of activities. To ensure personnel sustainability, an organization should ensure that its employees are well trained and given proper supervision in performance of their duties.
 
Financial stability in an organization can be worked on by conducting financial reserve for future. Financial problems emerge when the allocation of funds is improperly done (Garud, R., Gehman, J., Markard, J, 2014). Before the onset of any financial crisis, financial reserve ought to be set aside.
The provision of quality products to the market is a strong mechanism for working towards sustainability.
 
An organization that offers high quality products to its customers makes sure that they are satisfied (Jebe, R., 2011). By so doing therefore, they sustain it too by availing finances through purchasing of the quality products offered at the market. At the long run, the organization achieves both product and financial sustainability.
 
Regards,
Mohammed Alblooshi
 
References;
Garud, R., Gehman, J., Markard, J, 2014 ., & Sustainabilty, C. Sub-theme 26:
The Role of Organizations in Sustainability Transitions.
Jebe, R. (2011). Will Business Do Anything for Money?:
Carrot Mobs and Sustainabilty in Small Businesses

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