Value exchange

Definition: The value exchange model describes how the enterprise’s promise is delivered by its front-line agents. It is through these agents that the customer experiences the service. If the experience matches the promise, then value is returned from the customer to the service provider. The model also suggests that the agents should be considered ‘users’ of the service, and that the use of ICTs should ensure that feedback is continuously gathered and fed back into the service design. The model can be broken into three sentences: 1. The service provider makes a promise to the service recipient in exchange for some form of value. 2. The service provider provides tools and infrastructure for its agents who provide utility and experience to the service recipient. 3. The service recipient interacts with the service agents who give feedback to the service provider. Source: Livework Studio Ltd