High Value Engineering Case Study
What is High Value Engineering?
High Value Engineering (HVE) is a formulated approach applying engineering technologies, innovative competencies to the production, progression and distribution of products and services to achieve essential functions at the most profitable operational costs while maintaining required operational standards, thus achieving value creation. (University of Birmingham, n.d)
Typical forms of value creation
Organizations typically achieve value creation through integrating efficiency, innovation and flexibility into their operations. Efficiency optimizes value through maintaining minimal wastage and maximum usage of capabilities and resources. Innovation allows both organizational and customer needs to be met through …show more content…
However in recent years, this tactic has not only stopped being effective, but has resulted in a drop in customer retention and sales. AA’s board has made efforts to change this detrimental image by inviting two females to their board, however, the nature of AA’s advertisements and garments have not changed, demonstrating a lack of commitment to its rebranding initiative. AA should thusly adopt an engineering value chain approach to emphasize innovation in product and strategy development from the idea-formulation stage, so as to draw focus on the brand image and experience, and thusly regain their image as an ethical and trendsetting brand. AA could integrate a personalized aspect to their service experience, where AA can anticipate what products a customer will prefer based on their social media feeds. Compounded with this, AA could implement a complimentary social campaign that involves their consumers in an ethical portrayal of women in their AA apparel, which draws consumers into participating and being part of the brand. This innovation will increase AA’s competitive standing in the global market, due to being rebrand AA as an organization that can be ahead of the curve, and effectively anticipate their customers’ preferences. Concurrently, customers’ needs to experience convenience, and personalized service from an organization that demonstrates that they are in tune with their market and
High Value Engineering (HVE) is a formulated approach applying engineering technologies, innovative competencies to the production, progression and distribution of products and services to achieve essential functions at the most profitable operational costs while maintaining required operational standards, thus achieving value creation. (University of Birmingham, n.d)
Typical forms of value creation
Organizations typically achieve value creation through integrating efficiency, innovation and flexibility into their operations. Efficiency optimizes value through maintaining minimal wastage and maximum usage of capabilities and resources. Innovation allows both organizational and customer needs to be met through …show more content…
However in recent years, this tactic has not only stopped being effective, but has resulted in a drop in customer retention and sales. AA’s board has made efforts to change this detrimental image by inviting two females to their board, however, the nature of AA’s advertisements and garments have not changed, demonstrating a lack of commitment to its rebranding initiative. AA should thusly adopt an engineering value chain approach to emphasize innovation in product and strategy development from the idea-formulation stage, so as to draw focus on the brand image and experience, and thusly regain their image as an ethical and trendsetting brand. AA could integrate a personalized aspect to their service experience, where AA can anticipate what products a customer will prefer based on their social media feeds. Compounded with this, AA could implement a complimentary social campaign that involves their consumers in an ethical portrayal of women in their AA apparel, which draws consumers into participating and being part of the brand. This innovation will increase AA’s competitive standing in the global market, due to being rebrand AA as an organization that can be ahead of the curve, and effectively anticipate their customers’ preferences. Concurrently, customers’ needs to experience convenience, and personalized service from an organization that demonstrates that they are in tune with their market and