Servitization Strategy

Competing through advanced services involves offering products-as-a-service, delivering outcomes for customers, and regularly earning revenue when customers get the results they value. This strategic move towards delivering outcomes can present many challenges for a firm. Part of the Palgrave Executive Essentials series, this book introduces outcome-based business models as Advanced Services Business Models and provides a practical guide on how a firm can innovate these services through a process known as servitization. Servitization offers businesses a pathway to both improve economic productivity and sustainability. It can create greater value for customers, while also improving resource efficiency and dematerialisation of the supply chain. It has the potential to reshape the industrial landscape for businesses, markets, and consumers around the world. This book is for executives, professionals, and anyone else who is looking for a practical guide to implementing service-based business models or seeking to innovate their business models to focus on services. It functions as a companion for students in executive education courses on servitization, business model innovation, strategy, and operations and should be on the radar of all instructors in those fields. Endorsements “This comprehensive playbook is essential reading for industry executives looking to deliver increased customer value and improve their competitive position through advanced services.” Tom Palmer, Former Group Director of Services Strategy, Rolls-Royce “This book takes the reader on the journey of why advanced services are so essential to support the long-term strategic needs of the customer and outlines how to develop a successful approach to delivering the required transformation. An essential read; thought provoking with truly relevant insights.” Mike Hulme, Managing Director of Trains and Modernisation, Alstom “This book cuts through the maze of complexity of how to compete in the digital world. Every business should appoint their own CSO - Chief Servitization Officer.” Des Evans, Former CEO, MAN