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To understand value, we have to understand the customer. This is not accomplished with more accurate cost accounting, better project management, or any other internal initiative. Companies have a wealth of information on how long things take and what they cost; they have a paucity of metrics on the value they create for customers.
Someone needs to be in charge of value. BMW has a Customer Experience Officer, responsible for the entire BMW experience, from decision to purchase, to service and trade-in. Many professional firms have now created this position, with the CVO overseeing a value council.
