Modeling Business Strategy: A Consumer Value Perspective

Business strategy lays out the plan of an enterprise to achieve its vision by providing value to its customers. Typically, business strategy focuses on economic value and its relevant exchanges with customers and does not directly address consumer values. However, consumer values drive customers’ choices and decisions to use a product or service, and therefore should have a direct impact on business strategy. This paper explores whether and how consumer values influence business strategy, and how they might be linked to IS solutions that support the implementation of such strategies. To address these questions, the study maps consumer values to a business strategy approach via a meta-model commonly used for such purposes, based on strategy maps and balanced scorecards (SMBSC). Additionally, the applicability of the mappings is illustrated via a case scenario where the mappings are applied and the business strategy conceptualization captures them. Finally, based on these mappings, high level guidelines for linking consumer values to requirements for the development of IS solutions through business strategy conceptualization are proposed.