Understanding the role of boards of directors in customer value management in B2B markets

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Journal Title

Journal ISSN

Volume Title

School of Business | Master's thesis

Authors

Date

2022

Department

Markkinoinnin laitos

Major/Subject

Mcode

Degree programme

Marketing

Language

en

Pages

86 + 16

Series

Abstract

The aim of this thesis is to understand the role of Boards of Directors in customer value management. To fulfil this aim, this thesis investigates boards’ understanding of the customer value concept, the existence of a clear role description, and actions and practices Boards of Directors engage in to facilitate customer value management throughout their organization. As the link between Boards of Directors and customer value management has not yet been established in existing research, the present study takes an exploratory approach. Data was collected through a total of nine semi-structured expert interviews, which were then evaluated using Grounded Theory techniques. The analysis shows that in board members’ minds, there is neither one specific role of Boards of Directors in customer value management, nor is there a specified set of actions and practices. Based on interview insights, this study presents a new framework to illuminate the board’s potential role in customer value management. This framework identifies two obstacles preventing boards from assuming responsibility in customer value management. Once those obstacles are overcome, the new framework introduces three groups of potential levers boards have at their disposal to facilitate customer value management in their organization: Strategy, personnel, and resources. The role of Boards of Directors in customer value management is then deduced from those potential levers and called ‘enabler’. Overall, the findings establish a link between Boards of Directors and customer value management, highlighting the importance of conducting research on the topic. From a practical perspective, the insights gained in this thesis help Boards of Directors better understand why their contribution to customer value management may have not yet realized its full potential and offers multiple practicable suggestions to increase board involvement in customer value management.

Description

Thesis advisor

Asikainen, Sanna-Katriina

Keywords

board of directors, customer value management, customer value, value in exchange, value in use, corporate governance

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Citation

Permanent link to this item

https://urn.fi/URN:NBN:fi:aalto-202202131885

Collections

[gradu] Kauppakorkeakoulu / BIZ