Abstract
Business enterprises exist in a world that is fiercely competitive, tied with huge global uncertainties. They always encounter increasing pressure on prices and margins. Hence, irrespective of their domain of operations and industry, businesses are naturally concerned about their growth, specifically sustained profitable growth, in today’s world. Marketing is a key business function to market and lead a business towards sustained profitable growth but the problem is it lacks a systems perspective in its operations, strategy, and practice. Further, given the confluence and systemic interactions of various economic, digital, and competitive forces; the challenge for different business functions—including marketing—increases tremendously. In this context, it is important for business enterprises to have a systems perspective to find their ways to growth that will be sustained. This calls for a holistic approach to assimilate and steer the business functions in any enterprise. The present conceptual paper focuses on an important business function for sustained growth in a holistic way and presents a systems model, called ‘Value Based Business Approach (VBBA)-marketing’, which has potential to guide and steer companies and business enterprises to create a path for their sustained profitable growth.
Highlights
IntroductionIrrespective of their domain of operations and industry, are concerned about their growth, sustained growth
Companies or enterprises, irrespective of their domain of operations and industry, are concerned about their growth, sustained growth
The present paper focuses on an important business function for sustained growth in a holistic way and presents a systems model towards this end
Summary
Irrespective of their domain of operations and industry, are concerned about their growth, sustained growth. There is increasing penetration of digital forces underlying a ‘fourth industrial revolution’ and simultaneously showing volatility in financial markets; raising the global issues of migration, protectionism, and turbulence in many parts of the world. In this context, it is important for business enterprises to have a systems perspective to find their ways to growth that will be sustained. The present paper focuses on an important business function for sustained growth in a holistic way and presents a systems model towards this end.
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