How do you create and share value with your partners and suppliers through business operations innovation?

1 Identify your value proposition

The first step is to identify your value proposition, which is the unique benefit that you offer to your customers, partners, and suppliers. Your value proposition should be clear, compelling, and differentiated from your competitors. It should also align with your strategic goals and vision. To identify your value proposition, you can use tools such as the value proposition canvas, the lean canvas, or the business model canvas.

2 Map your value chain

The next step is to map your value chain, which is the set of activities and processes that you perform to create and deliver your value proposition. Your value chain should include your internal operations, such as production, distribution, marketing, and sales, as well as your external relationships, such as suppliers, distributors, partners, and customers. To map your value chain, you can use tools such as the value stream mapping, the process flow diagram, or the service blueprint.

3 Analyze your value drivers

The third step is to analyze your value drivers, which are the factors that influence your performance, profitability, and competitiveness. Your value drivers can be divided into two categories: operational drivers and relational drivers. Operational drivers are the aspects of your internal operations that affect your efficiency, quality, and cost. Relational drivers are the aspects of your external relationships that affect your collaboration, innovation, and trust. To analyze your value drivers, you can use tools such as the balanced scorecard, the SWOT analysis, or the VRIO framework.

4 Design your value innovation

The fourth step is to design your value innovation, which is the process of creating and implementing new or improved ways of creating and delivering your value proposition. Your value innovation should aim to enhance your operational drivers and relational drivers, as well as to meet or exceed your customers' expectations and needs. To design your value innovation, you can use tools such as the design thinking, the lean startup, or the agile methodology.

5 Implement your value innovation

The fifth step is to implement your value innovation, which is the process of executing and testing your new or improved ways of creating and delivering your value proposition. Your value innovation should be implemented in a systematic, iterative, and collaborative way, involving your internal teams, as well as your partners and suppliers. To implement your value innovation, you can use tools such as the project management, the change management, or the feedback loop.

6 Evaluate your value creation and sharing

The sixth step is to evaluate your value creation and sharing, which is the process of measuring and monitoring the results and impacts of your value innovation. Your value creation and sharing should be assessed in terms of your operational performance, your customer satisfaction, and your partner and supplier relationships. To evaluate your value creation and sharing, you can use tools such as the key performance indicators, the customer feedback, or the partner and supplier surveys.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?