The Critical Role Service Expertise
Successful transformation within the service business hinges on the presence of inspired and capable service leadership and development teams.
These teams are mission-critical for driving transformation through:
- Development of Offerings and Capabilities.
Innovating and improving service offerings and internal capabilities to stay competitive. - Execution and Implementation of Strategies.
Effective execution and implementation of service strategies to achieve business objectives. - Stakeholder Buy-in.
Securing buy-in from various stakeholders to ensure smooth and effective transformation processes.
The Challenge: Developing Future Service Leaders
Developing young talent for future service leadership and development roles presents a unique set of challenges:
- Lack of focussed service development programs.
University curriculums and internal academies of manufacturing companies often lack comprehensive coverage of service business and management, creating a gap for aspiring service leaders. - Underrepresentation in management programs.
Existing management programs seldom emphasise the application of services, which are essential for developing specialised skills in this field. - Need for specialised skills.
While internal academies and external training providers cover general management and leadership competencies well, there is a pressing need for targeted development in service management.
Module 1: Service Strategies & Models
- What is a Winning Strategy: Understanding the key elements that define a winning strategy.
- Developing Winning Service Strategies: Techniques for creating strategies that secure stakeholder buy-in.
- Winning Service Strategies: Strategies leading to successful service transformations.
- Service Models and Value Propositions: Exploring various models like outcome-based, data-driven, and sustainable services.
- Revenue Models: Analysing different methods for generating revenue through services.
Module 2: Service Development
- Service Development vs. Business Model Innovation: Differentiating between service innovation and overall business model changes.
- Innovation Strategies for Growth: Techniques to drive growth through innovative services.
- Innovation Methodologies: Frameworks and methods for effective service innovation.
- Innovation Governance: Establishing governance structures to support innovation.
- New Service Introduction: Best practices for launching new services.
- Service-Product Management: Managing the lifecycle of service products.
Module 3: Revenue Generation
- Service Marketing: Effective marketing strategies for promoting services.\
- Thought Leadership: Positioning your organisation as a leader in the service industry.
- Service Sales: Techniques and strategies for selling services.
- Customer Success Management: Ensuring customer satisfaction and long-term success.
- Pricing Strategies: Developing pricing models that maximise revenue.
Module 4: Service Delivery Operations
- Operating Models: Designing and implementing effective service delivery models.
- Predictive and Prescriptive Maintenance: Utilising data to anticipate and address maintenance needs.
- Remote First Services: Strategies for delivering services remotely.
- Supply Chain and Sourcing: Managing supply chain and sourcing for service delivery.
- Performance-Based Services: Implementing services based on performance metrics.
- Data and Software Services: Leveraging data and software to enhance services.
- Operational Improvement Services: Continuous improvement in service operations.
Module 5: Service Finance
- Profit & Loss in Service: Understanding the financial statements specific to service businesses.
- Revenue and Cost Drivers: Identifying the key drivers of revenue and cost.
- Fixed Cost, Variable Cost, and Cost-to-Serve: Analysing different types of costs in service delivery.
- Operational and Financial Cost: Managing and optimising costs.
- Revenue Recognition: Principles and practices for recognising revenue in service businesses.
Module 6: Service Performance Management
- Balanced Performance Reporting and Dashboards: Creating and using balanced scorecards and dashboards.
- Leading and Lagging Indicators: Identifying key performance indicators.
- Objective Setting and Performance Monitoring: Establishing and tracking performance objectives.
- Strategy Execution: Implementing strategies effectively.
- Continuous Improvement Methods: Techniques for ongoing improvement in service performance.
Module 7: Integration project
The Integration Project is the culmination of the Program, designed to synthesise and apply the cumulative knowledge and skills gained from all previous modules.
This final project challenges you to implement your learnings in a comprehensive, real-world scenario, fostering deeper understanding and practical competence.
