Beyond The Tangible

An organisation’s true value is reflected in the level of employee satisfaction and customer trust it has created as well as the social cause it stands for.

- Dr Pallavi Rao Chaturvedi

Revenue and annual turnover might be the indicators of an organisation’s growth and development. But value is perhaps the most essential element for effective functioning; it certainly acts as the force that drives an organization and determines what becomes of it in the long run. However, the value can by no means be measured on a quantitative scale.

In recent years, many have realized the importance of value and are making conscious efforts towards achieving it. Value can be measured on the basis of multiple parameters—the customer trust the brand has been successful in earning, the satisfaction level of employees, or a social cause the organization supports. All these aspects come together to create ‘brand value’.

Value for customers

Customers undeniably constitute the most significant pillar that supports all businesses. Investing in building their trust steadily pays off, as a lifetime dividend, and keeps the organization running even during times of crisis or other extraordinary circumstances.

As far as customers are concerned, it is the brand that they get acquainted with even before they gain access to a product or service. The brand than can be said to be one of the most significant intangibles that make a business. However, it is not just a product or service that makes a brand, it is also the trust built around it. Therefore, investing in the brand value promised to the customer is extremely critical for the sustenance of an organization. And the very trust the brand creates for itself comes to the rescue when the company goes through a rough patch. Nestle’s Maggi crisis is a good example— despite a ban, the brand managed to come out of the setback and recreate a position similar to what it held before.