The book 'Better, Simpler Strategy' presents the concept of the 'Value Stick' framework as a key strategy used by successful companies like Apple and Amazon. This framework focuses on three main aspects: Willingness to Pay (WTP), Willingness to Sell (WTS), and the difference between prices and cost. The difference between WTP and WTS represents the value for the customer, while the difference between compensation and WTS represents employee satisfaction. Lastly, the difference between prices and cost is the value captured by the firm. By understanding and applying these concepts, companies can create more value for their customers and employees, and capture more value for themselves.
Ever wondered what strategies make Apple, Amazon, and other juggernauts so successful? Better, Simpl...
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