Available via license: CC BY 4.0
Content may be subject to copyright.
A methodology of strategic analysis for servitization of the
manufacturing company
JUSTYNA KOZŁOWSKA
Faculty of Engineering Management
Bialystok University of Technology
45A Wiejska Street, Bialystok 15-351
POLAND
Abstract: - Servitization in manufacturing companies often involves reformulating or building new strategies. It
is a complex and challenging process that is very prone to failure if carried out without careful strategic planning.
The scientific literature strictly regarding strategic analysis methodology in the context of servitization is rather
limited. Only a few studies were identified which indicate strategic analysis methods that are useful for building
servitization strategies. Whereas the catalog of methods for strategic analysis is wide and varied. Therefore, this
study aims to fill this gap and give an answer to the following research question: How to conduct a strategic
analysis (with which methods and tools) so that the obtained information would improve the decision-making
process in the context of servitization in manufacturing? A survey conducted in the Polish machinery
manufacturing sector shows that there is a relationship between conducting strategy analysis in the context of
product-service activity and the level of service income in manufacturing companies. Likewise, if the company
analyzed service-related business areas along with the product-related, it has reported an increase in service
income in recent years. Based on these findings and the outcomes of the review of servitization strategies and the
conditions of successful implementation of these strategies, the author developed an 8-stage methodology of
strategic analysis. It enables to gather the most relevant and needed information about the company resources
and its environment to facilitate making decisions in the context of product and service integration. An original
tool for assessing the orientation of organizational culture is proposed. The developed methodology was verified
by application in two manufacturing companies, and that allowed to formulate a list of recommendations for
future application of the methodology.
Key-Words: servitization, servitization of manufacturing, strategic analysis, product-service integration
methodology, strategic management
1 Introduction
Competitive pressure and rapid technological
progress increase the importance of innovation and
the need to use up-to-date knowledge in
manufacturing companies. Only those organizations
that can offer unique solutions for their industry have
a chance to compete successfully with others. Unique
solutions cannot be based solely on innovation in the
technological context, as they are usually quite
quickly imitated by other companies in the industry.
Manufacturing companies see such an opportunity in
service activities. They integrate services as an add-
on to their products or as a part of a product-service
solution offered to their clients. This kind of
expansion, however, triggers a process of many
changes and brings a series of consequences for the
manufacturer’s activity, business model, and
customers [1]. Services require the entrepreneur to
introduce new rules, structures, and organizational
processes. Developing new skills and opportunities
also requires redirecting financial and managerial
resources from the sphere of manufacturing and
development of new products to the sphere of
development of services or product-service
integration [2]. As a consequence, manufacturers
need to reformulate or build a new strategy for their
organization and plan how to implement and monitor
its successful realization. Therefore, service
innovations in product-based companies are issues of
great importance that imply strategic management.
The phenomenon of the shift of product-oriented
companies into service-oriented organizations is
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
126
Volume 18, 2021
known in the scientific literature as inter alia,
servitization of manufacturing, product-service
integration, and product-service system [3]. There are
plenty of different terms and definitions related to
this research field. For example, Ren & Gregory
advocate the process approach defining servitization
as: “a change process wherein manufacturing
companies embrace service orientation and/or
develop more and better services, with the aim to
satisfy customer’s needs, achieve competitive
advantages and enhance firm performance” [4].
While Baines et al. define that servitization means
innovation in manufacturer capabilities and the
process of a shift from selling products to selling
integrated product-service offerings [5]. Whereas,
Manzini &Vezzoli define a product-service system
as: ‘an innovation strategy, shifting the business
focus from designing (and selling) physical products
only to designing (and selling) a system of products
and services which are jointly capable of fulfilling
specific client demands’ (PSS) [6]. Therefore, in this
paper, the term servitization will be used
interchangeably with the term product-service
integration, and is understood as: “all systematic
activities undertaken by manufacturing companies
aimed at increasing the scope of services provided,
which create added value for the customer and the
company, in their current product-oriented offering”.
The definition emphasizes the aspect of decision-
making activity - that is, the need to take several
actions and decisions by manufacturing companies
towards expanding service activities, which will
create added value for both the entrepreneur and
users or customers. Many studies indicate the
importance of strategic management in the
servitization process [e.g. 7-9]. Product-service
integration requires introducing many changes at the
management level, which usually relate to five areas
in the company: the product offer, final output,
relationships with customers, relationships with
suppliers, and perception of the company [10]. The
changes are challenging, far-reaching, multi-stage,
and complex. Therefore, to avoid wrong decisions or
failures in the servitization of the company activity,
the process of implementation of all changes related
to product and service integration must be preceded
by a thorough planning process, including strategic
planning [11-13].
The three main components of the strategic
management process, i.e., analyses, decisions, and
actions, are usually defined in practice as stages:
strategic analysis, design/formulation of the strategy,
and implementation of the strategy. Strategic analysis
is the starting point of the strategic management
process, which is necessary to effectively formulate
and implement strategies. Many strategies
implemented without a prior thorough analysis of the
organization's overarching objectives and analysis of
its external and internal environment fail [14].
Formulating the strategy affects and involves various
functional levels of the organization, from business
units (areas of an organization's operation) dealing
with strategies with a limited scope, through
functional levels, to the highest levels dealing with
the global management of the organization and the
formulation of international strategies. Strategy
implementation usually involves making profound
changes in the organization to modify all its
subsystems so that they fit with the strategic goals
and support their implementation. It involves making
decisions that relate to the allocation of resources in
the areas of the company's activity characterized by
development potential, changes in the organizational
structure, and management of changes in the areas
where they occur in the organization [15].
Integrating services into a corporate strategy in a
product-oriented company is a challenge but also a
necessity to ensure the successful servitization [8].
Although the strategic management of the
servitization process is quite well described in the
literature, studies discussing its first stage – the
strategic analysis – remain scarce. In particular, there
is a very limited number of studies that address the
problem of choosing relevant methods and tools for
strategic analysis when a company wants to assess
the possibilities and capabilities of changing towards
providing a wider range of services or more advanced
product-service offerings. To fill this research gap,
the following research question was formulated:
RQ: How to conduct a strategic analysis (with which
methods and tools) so that the obtained information
would improve the decision-making process in the
context of servitization in manufacturing? To answer
the research question, the following methodology of
this study was designed and implemented. First, a
vast scientific literature review in the context of
strategic management and strategic analysis in the
context of servitization. At the same time, a survey
was carried out among 150 Polish machinery
manufacturing companies. Manufacturers were
asked in the questionnaire about their service activity,
habits in conducting strategic analysis, and the share
of service income in the total company revenue.
Then, 10 in-depth interviews were conducted with
experts in the servitization field to identify key
factors influencing the process of product-service
integration in manufacturing companies. Based on
literature review results supported by the empirical
study outcomes, the author developed a methodology
of strategic analysis suitable for manufacturing
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
127
Volume 18, 2021
companies that would like to build new strategies
aimed at service and product integration. The
proposed methodology was applied and verified in
two manufacturing companies what allowed to
develop recommendations about its future
applications.
2 Strategic analysis and service income
of manufacturing companies in Poland
– correspondence analysis results
The survey was conducted among 150
representatives of management from the machine and
equipment manufacturing sector in Poland with the
use of the CATI (Computer-Assisted Telephone
Interview) technique and a structured questionnaire.
Companies were chosen randomly. According to the
results of the survey, more than 80% of machine and
equipment manufacturers offer services, but they
focus mainly on product-oriented services as an add-
on to the product offer. About ¼ of them offer
services that generate over 30% of their total income.
As far as strategic analysis is concerned, over 50% of
manufacturers use various methods and tools for such
analyses, while 49% claim that they do not conduct
strategic analysis, mainly because they do not see the
need for it and sometimes a parent company or a
central unit deals with analyses. Moreover, small
companies rarely carry out strategic analysis,
whereas big enterprises do that much more often.
Respondents were also asked which area of
activity (product-related, service-related, or both)
they usually analyzed. Only two manufacturers
indicated that service activity is the subject of
strategic analysis in their company. A small group of
respondents (21 manufacturers, representing 14% of
the total surveyed group, and 27% of those who
perform strategic analysis) uses different methods of
strategic analysis for production and service activity.
While, 68 manufacturers (i.e., 88% of those who use
strategic analysis, which accounts for 45% of the
total research sample) examine the area of
manufacturing activity only (Table 1).
Table 1. Areas of activity that are the subject of
strategic analyses in surveyed companies
Do you use any strategic analysis tools/methods?
Yes
No
Total
Yes
No
Total
77
73
150
51%
49%
100%
Which areas of activity are the subject of strategic
analyses in your company?
Product
related
activity
68
82
150
45%
55%
100%
service
related
activity
2
148
150
1%
99%
100%
product-
service
related
activity
21
129
150
14%
86%
100%
Source: author’s research.
In the context of strategic planning, machine
manufacturers who make strategic decisions based on
the performed analyses use mainly methods of
examining the organization's resources. Macro-
environmental analyses are seldom used, as they are
relatively more expensive and difficult to carry out in
the perspective of surveyed manufacturers. In this
way, however, many opportunities appearing in the
environment are not perceived at all or recognized
too late. Consequently, an opportunity to build a
strategy for competitive advantage is lost.
Servitization is relatively often the answer to market
opportunities, so an insufficient analysis of the
environment may not identify such opportunities on
time or underestimate their importance.
Information gathered during the survey allowed
also to examine the relationship between strategic
analyses and service income in the manufacturing
companies under investigation. Respondents were
asked to estimate the share of service income in the
total company’s revenue and to indicate whether this
share changed (increased/decreased/remained
unchanged) over the last five years. As the
information gathered could be coded as qualitative
variables, the author chose a chi-square test and
correspondence analysis for the relationship
examination. Correspondence analysis is a
descriptive and exploratory technique for the analysis
of cross- and multidivisional tables, which allows
finding connections between qualitative variables
[16]. The following variables were selected for
analysis:
- Y1 – percentage share of revenue from services
in the total revenue; variable categories: 0-15%, 15-
20%, 21-30%, 31-40%, 41-50% and over 50%;
- Y2 – change in revenue from services; variable
categories: increased, decreased, unchanged;
- X1 – areas of activity that are subject to strategic
analyses, variable categories: p (product-related), p-s
(product/service-related), n/a (do not apply).
Chi-square test results between X1 and Y1 and
between X1 and Y2 are presented in Table 2.
Table 2. Results of a chi-square test
Statistics measure
χ2
df
p
Statistics: X1 (3) x Y1 (6)
Pearson’s χ2
35,922
10
0,00009
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
128
Volume 18, 2021
Cramér’s V
0,37028
Statistics: X1 (3) x Y2 (3)
Pearson’s χ2
18,0735
4
0,00119
Cramér’s V
0,26265
Source: author’s research.
The results of the chi-squared independence test
indicate that between variable X1 (conducting
strategic analysis by the company) and both other
variables – the level of share of service activities in
total revenue and it changes over the last five years –
there is a statistically significant dependence. The
strength of these relationships, based on the Cramer's
V statistics, can be considered as weak to moderate.
Then, the correspondence analysis was carried out.
Its results can be presented graphically on perception
maps which facilitates conclusion. Judging by the
position of the points in the plot (Figure 1), it may be
concluded that the greatest dependence is shown
between the categories "p-s" of the first variable and
categories "41-50%" and "over 50%" of the second
variable. They have the closest coordinate values in
1 dimension, which is dominant, judging by the
eigenvalue, and these points are the most distant from
other categories. Therefore, it can be stated that a
manufacturer who claimed to carry out the strategic
analysis for product-service-related activity also
relatively more frequently indicated a share of the
revenue from services at the level of more than 40%
than entrepreneurs choosing other answers (namely
analyzing product-related activities or conducting no
analyses at all).
Figure 1. Map of perception for variables X1 and
Y1 (correspondence analysis results)
Source: author’s research.
Additionally, taking into account the 2nd
dimension, the categories "p" and "n/a” are on the
opposite sides of 0 and might be associated
respectively with the categories “21-30%” and “0-
15%” of the second variable. Therefore, these
answers (circled in the plot) relatively more often
appeared in the answer of one respondent. It is
difficult to combine the categories “15- 20%” and
“31-40%” with a certain category of Y1. However, it
can be stated that entrepreneurs who do not perform
any strategic analyses have, relatively more often, the
lowest revenues from services.
Figure 2. Map of perception for variables X1 and
Y2 (correspondence analysis results)
Source: author’s research.
Figure 2 presents the map of perception for X1
and Y2. It can be stated that the increase in revenue
from services over the last 5 years was relatively most
frequently observed in companies using the strategic
analysis method to the product-service activity. The
"n/a" category is most strongly associated with
"decreased" so it can be concluded that these
responses were most common to appear in one
manufacturer’s answers. The application of strategic
analysis to product-related activities (“p”) cannot be
undisputably combined with the category "increased"
or “unchanged” due to the very similar distance to
both points in the plot.
To sum up, the results of the chi-squared test and
the correspondence analysis indicate that there is a
relationship between strategic analysis in companies
and financial results related to service activities. The
nature of these relationships is illustrated by
perception maps. It was proved that companies
conducting strategic analysis concerning product and
service activity reported higher revenues from
services and likewise an increase in these revenues in
recent years. Moreover, manufacturers who do not
perform strategic analysis at all showed the lowest
percentage share of the revenue from services in the
total revenues of the company and relatively more
often reported a decrease in service income in recent
years than the rest of the surveyed companies. The
obtained results justify the need to conduct strategic
analyses in manufacturing companies that are
expanding their service activities and intend to
modify their business model in this direction.
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
129
Volume 18, 2021
3 Strategic analysis in the context of
servitization
The company's identity, the skills and
characteristics of its employees, and the relative
strength of external stakeholders (suppliers,
competitors, and/or local authorities) can greatly
influence the company's decision about the
expansion of its service activity. Most of these factors
relate to the functioning of the organization in the
long run. They include key management issues such
as management style, structure and values, how to
hire, train, and reward staff, and how to build and
manage relationships with external stakeholders. The
company's current situation is a starting point for the
future. A meaningful assessment of the
manufacturer's situation and its strategic position is a
prerequisite for achieving its goal of effectively
developing service activity.
3.1 Strategic analysis in the process of
product and service integration
Strategic analysis is, from a functional
perspective, a set of activities diagnosing the
organization and its environment, which will allow it
to build a strategic plan and carry out its
implementation. From an operational perspective, it
is a set of methods allowing to examine, evaluate, and
predict the future state of the company and its
environment taking into account its ability to survive
and develop.
There are few or narrowly focused studies on the
early stages of strategic planning concerning
servitization in the literature. Therefore, the number
of guidelines for a comprehensive strategic analysis
that would provide complete information for making
decisions related to the scope and scale of product-
service integration is limited. For example, Ziout and
Azab indicated the usefulness of the PESTEL
(Political, Economic, Social, Technological,
Environmental, and Legal factors) analysis for the
study of the company's macro environment for
product and service integration [17]. Van Ostaeyen,
Neels, and Duflou listed the following methods:
PEST/STEP (Political, Economic, Social, and
Technological factors) analysis, Porter's 5 forces
analysis, market segmentation, product life cycle
analysis, and value chain analysis [18] as adequate
for designing a service-oriented business model in a
product-oriented organization. French author
Mathieu believes that it is good practice to use the
benchmarking method, not only for initial strategic
analysis but also at different stages of product and
service integration [19].
The catalog of strategic analysis methods and
tools is very wide [20-24] and the range of
information obtained during the analyses is varied.
Therefore, it seems appropriate to identify those
methods and tools which allow gaining knowledge
that will facilitate making strategic decisions about
servitization. The effectiveness of strategic analysis
can only be measured by assessing the extent to
which it achieves its basic objective, which is to
discover the key external and internal conditions that
are crucial for future development. Performing a
strategic analysis in a standard way may result in
neglecting or underestimating the key areas that
determine the success of the implementation of the
chosen servitization strategy.
3.2 Connections between strategic analysis
and building and implementation of
servitization strategies
A fundamental sequence of basic stages of
strategic management leads from analysis, through
the stage of making strategic decisions, to translating
them into action. However, some other
interdependencies and relationships disrupt the
linearity of this process. For example, the
implementation of a strategy can inspire new
concepts. And strategic analysis not only precedes
the process of concept formulation and
implementation of the strategy but also serves to
examine the consequences of the actions taken and
the new conditions accompanying their
implementation. Therefore, individual stages of
strategic management should be carried out
continuously and during their implementation, they
should be directly linked to the remaining stages and
at the same time provide them with up-to-date, new
information [14].
In the literature, a lot of servitization strategies were
identified and described [4, 25]. Each strategy is
focused on different aspects of providing services or
product-service solutions, determining various goals.
Thus, it requires a diverse configuration of resources,
capabilities, and competences inside the company.
Strategy formulation also requires such information
as the product offer and its potential for services and
the alignment of current strategic goals with the
servitization strategy. It is also crucial to decide how
the service process and service activities related to
the products can be realized – inside the company
organization structure with the use of its capabilities,
or by outsourcing all or part of the service activities
outside the company, and building strategic alliances.
[19]. This choice is determined by the company’s
relationship and human resources, and technical and
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
130
Volume 18, 2021
organizational capabilities. It should be then assessed
by strategic analysis.
Due to the substantial differences between the culture
of product-oriented and service-oriented
organizations [25], one of the strategic aims in
product-service integration is often to build a service
culture in a manufacturing company. Organizational
culture is pointed out as a crucial issue in the
successful servitization of manufacturers. The
orientation of organizational culture on services in
manufacturing companies reflects the problem of
overcoming the "cultural" habits of product
manufacturers. The process of servitization requires
the development of different service awareness
among both managers and employees. Increased
awareness of services at the managerial level leads to
a change in service awareness at the employee level,
which triggers new cultural behavior patterns across
the organization [26]. The organizational culture of
manufacturing companies is a weak point in the
process of product and service integration.
Entrepreneurs in the industry sector have a strong
technological orientation that makes it difficult to
build and shape a service-oriented organizational
culture. And a service-oriented organizational culture
helps to bridge the gap between what an organization
can achieve by training its employees and what the
customer ultimately expects [7]. This aspect should
be also a subject of detailed strategic analysis.
The implementation stage of the strategy of product-
service integration includes the following strategic
activities: planning and allocation of the
organization's resources, taking into account service
activities, adaptation of the organizational structure,
including manufacturing processes and service
providing processes, and management of strategic
changes in the organization. The integration of
services and products into a systemic solution is a
paradigmatic change in defining service performance
already at the stage of engineering design and
technical solutions by considering both components,
tangible and intangible goods, in an integrated
manner [27]. Strategic analysis should provide
information on the needs and expectations of
customers in terms of product-related services and
the assessment of the need to organize the design
processes of such services, as well as the capabilities
and abilities of the organization in this area, both in
terms of intangible resources (knowledge and skills
and human resources) and technical (necessary
infrastructure, hardware, and software). Furthermore,
along with the development of service activity in the
manufacturing company, the customer commitment
to the design process increases [28]. Thus,
knowledge of methods for designing services and
employee competences in this field as well as
customer involvement or willingness to get involved
in the design process should be subject to strategic
analysis. Effective implementation of the product-
service integration strategy in the organization is
conditioned by an appropriate value proposition for
the customer in the service component, which should
meet the specific needs and requirements of
customers [29]. To plan and design new product-
service solutions that take into account the value of
services, manufacturers need tools based on an
approach that includes creating lasting relationships
with customers. The familiarity with tools and
competencies in building relationships with the client
and knowledge of basic or most important processes
in customer organizations should be assessed during
strategic analysis for servitization purposes.
Linkage of the successive stages of strategic
management of product and service integration with
strategic analysis indicates the need to examine the
relevant areas and obtain a range of information
during the process, which was included in the
developed methodology presented in the next
section.
4 Methodology of strategic analysis for
a manufacturing company in the
context of servitization
Based on the above discussion of literature review
results, eight key aspects of the company activity
have been identified: current product offer of the
company and its potential, organization's objectives
and strategy, intangible resources of the organization,
relationship resources, organizational culture
orientation, organizational and technical area, micro-
environment and macro environment. To make it
more specific, in-depth interviews were conducted
with representatives of Polish machinery
manufacturers with few-year experience in service
providing, and academic researchers with experience
in the servitization field. Experts assessed a catalog
of factors developed by the author from the literature
studies [see the other author’s work: 30] grouped into
7 sets according to the STEEPVL scheme. STEEPVL
is an acronym that refers to factors: Social,
Technological, Economic, Ecological, Political,
Values, Legal. STEEPVL is a useful foresight
method for the analysis of key factors (both internal
and external) that may influence a researched
phenomenon [31] and is widely adapted to many
studies of different nature due to its generality and
comprehensiveness [32-36]. The assessment of
factors by experts allowed to build a list of the 18
most important factors that determine the
servitization of the companies operating in the
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
131
Volume 18, 2021
machinery manufacturing sector, which are as
follows:
S – social factors: staff specialized in the provision of
services, global and local trends in consumer
behavior (e.g. fashion);
T – technological factors: technology in the scope of
product manufacturing, product architecture, product
complexity level, technology/product life cycle
phase;
E – economic factors: economic benefits for service
recipients, energy and material consumption
throughout the product life cycle, costs of providing
services, competition in the market;
E – ecological factors: environmental standards
related to recycling of machinery and equipment, the
concept of sustainable development;
P – political factors: the organization's strategy, legal
regulations for the provision of long-term services,
defined service strategy;
V – value: long-term and stronger relationships,
building and maintaining a customer service culture,
creating value propositions for the client;
L – legal factors: legal data protection.
Experts also pointed out some other factors not
included in the catalog. All these factors should be
evaluated at a certain stage of strategic analysis.
Thus, they were taken into consideration while
setting the goals of each stage and selecting the
methods and tools for the proposed in this study
methodology.
4.1 Methodology of strategic analysis for
product-service integration
The methodology of strategic analysis for gathering
relevant information for product-service integration
in a manufacturing company consists of 8 main
stages (Figure 3), with not obligatory preliminary
stage 0 and the synthesis of information and
knowledge acquired during the whole analytical
process. It follows the standard scheme of the
strategic analysis process, first including the study of
the company's macroenvironment (Stage 1) and
micro-environment (Stage 2, Stage 3, and Stage 4)
and consequently – analysis of the company’s
resources (Stage 5, Stage 6, Stage 7 and Stage 8). For
each stage, there are relevant methods and tools
chosen, specific questions indicated which should be
answered, and factors that should be assessed.
Stage 0. The purpose of the initial, optional stage is
to examine the current state of advancement of the
process of product and service integration in the
company. The awareness of the progress of the
servitization process is sometimes low since services
are seen as a secondary activity to the manufacturing
activity. It may turn out that both the catalog of
provided services and the share of the revenue from
services are much larger than the producers think,
and only detailed analysis or comparison with other
manufacturers reveals the volume of this activity and
its importance in the overall activity of the company.
The evaluation of the maturity level can be performed
according to any model available in the literature.
However, the author recommends a relatively easy to
use the original model of classification of the
manufacturer's level of maturity in the provision of
services, according to which it is necessary to
determine the number of different types of services in
the offer and the share of revenue from the provision
of services in total revenue [see: 37].
Figure 3. Scheme of the methodology for strategic
analysis for product-service integration in a
manufacturing company with operational guidelines
Source: author’s research
Stage 1. The first stage aims to answer the question:
What are the directions of development of trends
related to product and service integration in the
macroenvironment? Key factors influencing the
processes of product and service integration in the
macroenvironment of the company according to the
experts are global and local trends in consumer
Evaluation of the current level of servitization of the company's
activity (preliminary stage)
•PEST/PESTEL/ STEEPVL
•Scenario methods
Stage 1. Identification and
assessment of the impact and
development direction of
macroeconomic factors
•Porter's 5 forces for
product-service sector
•Benchmarking
Stage 2. Competitive environment
analysis
•Customer activity
cycle/technical
product life cycle
•Market segmentation
Stage 3. Analysis of customer
requirements and activity cycles
•Stakeholder mapping
Stage 4. Analysis of possibilities to
build partner networks
•Examination of the
strategic (and other)
documents of the
organization
Stage 5. Analysis of goals, plans
and strategies of the organization
•Portfolio analysis
•Product/technology
and service lifecycle
analysis
Stage 6. Analysis of the product
offer and its potential
•Strategic balance
sheet
Stage 7. Anaysis of intangible
resources of the company and
technical and organizational
conditions
•Form of organizational
culture evaluation
Stage 8. Evaluation of the
orientation of organizational
culture
Synthesis of analysis results
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
132
Volume 18, 2021
behavior (e.g. fashion); the level of innovation of
production technologies; environmental standards
related to recycling of machinery and equipment; the
concept of sustainable development; legal
regulations for the provision of long-term services;
legal protection of data; the level of wealth of the
society; the cost of maintaining qualified employees;
environmental impact of industrial services; legal
protection of service consumers; and European
Union policy on innovative solutions in the industry.
This list was prepared based on experts’ opinions, but
the users of the methodology may generate and
analyze their own set of factors using STEEPVL
analysis approach. At this stage, a scenario method
with the scenario-axes technique [38] is strongly
recommended. Scenarios allow for the logical and
formal construction of alternative visions of the
desired future of the organization, taking into account
the knowledge and understanding of the factors
shaping the studied phenomenon, and thus enabling
rational decision making about the future [39].
Stage 2. The diagnosis of a competitive
microenvironment aims to obtain answers to
questions: Do and how do the competitors develop
services? What segments of the service market do the
competitors serve? The method recommended in
stage 2 is the analysis of Porter's 5 forces, which
should be focused on the sector or industry
concerning a new area - services in manufacturing.
Additionally, a lot of information and guidance can
be obtained by analyzing in detail how global
corporations and industry leaders from other
countries develop their service activities. Thus, using
the method of observation and benchmarking is
suggested.
Stage 3. This stage aims to obtain answers to the
questions: Will the external environment and all
stakeholders accept product and service integration
and its results? Are customers willing to purchase
more services? What are their main/up-to-date
requirements and needs? What can be offered to
customers, taking into account the product lifecycle?
What new service market segments can be
addressed? What are the main business/production
processes in the potential/current customer
organization? Factors that have proven to be key to
assess at this stage include customers' willingness to
purchase services, the level of wealth of society
(including customers), economic benefits for service
users, creating value propositions for the client,
length, durability and strength of the relationship, the
reputation and image of the company. This is one of
the most important stages of the methodology, which
manifests itself in the number of questions to be
answered. Partially, these questions can be taken into
consideration in Porter's 5 forces analysis. However,
additional methods that are worth accompanying the
results of the previous stage are analysis of the
customer's activity cycle combined with the analysis
of the technical product lifecycle [40] and market
segmentation.
Stage 4. The fourth stage aims to answer the
following questions: What relational external
resources does the enterprise have and what are the
possibilities of creating partner networks? What kind
of cooperation in the field of service provision can be
established (outsourcing, partnership)?
The method recommended at this stage is stakeholder
mapping [41]. It allows understanding the underlying
relationships and level of commitment of individual
units and external organizations to the enterprise.
Stakeholders may be customers, cooperators, banks,
offices, suppliers, competitors, and institutions. In the
context of product and service integration, it is worth
considering both current and potential stakeholders in
the analysis, as well as creating two maps.
Stage 5. The main goal of the stage is to answer the
question: To what extent is the product-service
integration compatible with the current company's
strategy? However, questions helpful at this stage
might be the following: Is there a reference to service
activities in the organization's strategy? What
financial objectives does the organization pursue?
Do they (objectives) include service activities? What
is the orientation of the main activities and processes
in the company visible – on the customer, on
production or services? The technique that can be
used at this stage is the examination of the
organization's documents, with particular emphasis
on the strategic documents, describing its mission,
vision, as well as short- and long-term plans.
Nevertheless, equally valuable information can be
obtained from other seemingly unrelated documents
(notes from meetings, reports, etc.).
Stage 6. The aim of stage 6 is to obtain detailed
information on the current product and service offers,
as well as their potential, mainly in terms of service
portfolio development. The main premise for the
analysis of the portfolio of manufactured products
and their life cycle is to link the range of services with
the product life cycle. Therefore, the methods
potentially applicable at this stage are portfolio
analyses and analysis of phases of the product and/or
technology lifecycle but also the service lifecycle (if
there are services in the current offering). The
product lifecycle can be considered in the technical
and market context. A combination of these two
approaches is also recommended to identify potential
areas for services
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
133
Volume 18, 2021
Stage 7. In this stage of the strategic analysis, it is
necessary to assess intangible resources, excluding
the examination of the organizational culture, and
technical and organizational resources. This stage
aims to obtain answers to questions: Does the
organization have adequate resources to introduce
new or develop the current product and service offer?
To what extent do the organizational structure and
decision-making levels meet the needs of sales and
after-sales service of product and service offers? To
what extent do employees' skills, knowledge, and
approaches meet the requirements of the process of
providing services or delivering product-service
offers to customers? Can the principles of
introducing innovations in the company be adapted
to both the development of material products and the
introduction or development of services? The
recommended method of assessing the organization's
resources, taking into account their different nature,
is a strategic balance sheet [23,42]. It is a rather
complicated and expensive method, however, it can
be simplified and enriched with the information
crucial from the perspective of the manufacturer on
the product-service integration path.
Stage 8. In the penultimate stage of the proposed
methodology, the orientation of organization culture
should be examined. This stage aims to answer the
question: Should and to what extent the service
culture in the organization be changed and shaped?
Organizational culture is an intangible resource of the
company, but it was excluded from the previous stage
due to its importance in the servitization process and
because there is a very limited number of strategic
analysis tools that focus on the cultural aspects
precisely. Therefore, the author proposes a tool that
may be used for such examination and would provide
necessary information about the orientation of the
corporate culture in the organization. The tool was
designed based on the synthesis of the literature
studies presented in Section 3.2. of this article, and
the review of studies focused on the organizational
culture and its assessment [43-46]. The tool consists
of 16 opposite statements (Table 3) which need to be
assessed on a 7-point scale. The average assessment
below 4 informs about the product-oriented
organizational culture. While the average result
above 4 means that organizational culture is service-
oriented.
Table 3. A form for organizational culture evaluation
In our organization
1
2
3
4
5
6
7
In our organization
Employees are reluctant to
engage in taking up new
challenges
Employees willingly
engage in taking up new
challenges
In our organization
1
2
3
4
5
6
7
In our organization
There is a strong
resistance to changes
related to the expanding
the area of the
organization's activities
There is little resistance to
changes related to the
expansion of the
organization's area of
activity
Money and items are
important
People are important
Independence is
appreciated
People depend on each
other
Internal relations are
important
Internal and external
relationships are just as
important
Customer relationships are
short-lived
Relationships with the
client are long-lasting
A high level of technical
knowledge is important
Communication skills are
important
The training and
motivation system is
oriented to product
development
The training and incentive
system is oriented towards
the development of
services
Achievement is defined in
terms of quick profit
Achievement is defined in
terms of long-term
collaboration with partners
Contact with stakeholders
is focused on the
implementation of tasks
Contacts with stakeholders
are focused on building
long-term relationships
Intrapersonal values
dominate
Interpersonal values
dominate
Services are seen as
"necessary evil"
Services are seen as an
added value
Success is guaranteed by a
good quality product
Success depends on the
service package
Strong faith in the
potential of the product is
demonstrated
Strong belief in the
potential of services is
demonstrated
Attention is paid to the
production results
Attention is paid to the
relationship with the
customer
The product offer depends
on internal capabilities
and resources
The product offer includes
services and is flexibly
adjusted to the needs of
the market
Note for user: please assess in each row which statement (left or
right) is more suitable for your organization
Source: author’s original work.
Synthesis of analysis results. It is worthwhile to
finally make a summary of the information obtained,
which will facilitate the creation of strategic
alternatives and its design. The SWOT method is
relatively suitable here. In the context of the strategic
analysis of product and service integration, carried
out according to the proposed methodology, it
becomes a simple compilation of all obtained results.
In a simple version, it consists of a list of the main
strengths and weaknesses of the organization and the
threats and opportunities created by external
conditions, and such a version can be used to
summarize the most important results of all analyses
conducted so far.
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
134
Volume 18, 2021
4.2. Recommendations for the application of
the methodology in manufacturing companies
The proposed methodology was verified by
application in two Polish companies. Both are
operating in the machinery manufacturing sector and
represent the SME sector. Manufacturers carried out
the analyses on their own, consulting it from time to
time with the author. The most problematic step
appears to be Stage 1 due to uncertainty in the
assessment and identification of key macroeconomic
factors that are crucial for the sector. The author
recommended them to focus on the set of factors
which were identified and evaluated during the
qualitative studies. A somewhat interesting
observation was that there are major differences
between the assessments of the orientation of the
organizational culture between departments and
organizational levels. The management and
marketing department in one of the companies
assessed the organizational culture as more product-
oriented than employees of the construction or
production department. Therefore, employees of
typical product-oriented departments seem to have a
more service-oriented and client-oriented approach
than marketing employees. Moreover, all suggested
graphical tools such as maps and graphs were
considered helpful to understand clearly the
outcomes of the analysis.
In general, manufacturers evaluated the
developed set of methods and tools as useful h
informative for the company, not only in terms of
product and service integration. Based on the results
of the research and verification of the methodology,
the following recommendations for its application
were developed.
1. To ensure the triangulation of information and
knowledge, the analysis team should be composed of
several people, at least one of whom should represent
the external environment, and another one should be
independent and unrelated to the company. Besides,
the team should include both high and middle-level
managers as well as regular employees.
2. Key external and internal factors need to be
verified first, due to the different economic
conditions of the regions where manufacturing
companies operate. Even if companies operate in the
same market in terms of the customer, they may have
completely different development conditions due to,
for example, functioning in a special economic zone
or zones covered by special development programs.
3. Each step must be carefully documented, and
the results are described as comprehensively as
possible. Graphical presentation of the results of the
analyses at each stage is an additional facilitation in
interpreting the acquired information and making
conclusions towards designing a strategy of product
and service integration.
4. Small manufacturing companies may encounter
difficulties in objectively assessing external factors.
Therefore, it is recommended to have an external
expert at least at stage 1 of the methodology. The next
stages can be carried out on your own.
5. The examination of the organizational culture
should be conducted with the involvement of as many
employees from different levels and positions as
possible. It should also be carried out separately in
the different departments of the company and on
different levels, as these evaluations vary according
to the employee's perspective. The most complete
organizational culture assessment requires the
involvement of all employees in completing the
organizational culture assessment questionnaire.
6. Quite a common mistake made by managers is
the lack of compilation of results after performing
analyses by several methods and conclusions and
making decisions based on fragmentary analysis
results. Therefore, the last stage of the methodology
should not be omitted. It is also suggested to list,
apart from the results, selected main assets of the
company, crucial for product and service integration,
and to assess them in terms of sensitivity to
weakening due to emerging threats. The threat, which
could eliminate the main assets of the company in the
area of product-service integration strategy, would
eliminate all efforts and actions taken by the
manufacturer in this direction.
7. Strategic analysis according to the proposed
methodology should be carried out periodically - in
larger companies even every year – due to the
changing dynamic market conditions and
development of companies.
5 Conclusions
A trend towards servitization can be observed mainly
in the industry sector, however, it also manifests itself
in other contexts and sectors of the economy, e.g., in
the digitalization of public services processes [47]. Its
importance increases and creates many opportunities
and challenges both for the research field and
development of the organization. Despite current
trends, servitization is not obligatory for every
manufacturer but may be a promising choice with
fruitful outcomes in many spheres. Not only can it
bring a more steady competitive advantage but also
new experiences, relations, and organization
evolvement. To make the servitization journey
successful, it should be carefully planned and
implemented based on the results of a solid and
appropriately oriented strategic analysis. This was
the aim of this study – to develop such a set of
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
135
Volume 18, 2021
methods and tools that will enable to gather relevant
and most needed information which facilitate the
decision-making process concerning the scope of
servitization in the manufacturing company and will
be a solid base for servitization strategy building.
The contribution of this study to the management
research field is two-fold. First, it contributes to the
research field of servitization/product-service
integration in the context of its strategic management.
The study proved that the strategic analysis of certain
areas of company activity returns in financial
outcomes from a service activity. Second, the
proposed methodology is a well-described set of
tools and guidelines for the theory and practice of
strategic management of the servitization process in
the manufacturing sector. The novelty of this study
manifests itself in a comprehensive approach to the
process of strategic analysis focused on servitization.
It also proposes an original tool for assessment of the
orientation of organizational culture.
The author is aware of the limitation of this
study, which is, for example, the limited scope of
empirical research (a survey limited to one country
and one manufacturing sector) or a very limited
number and scope of application of the methodology
(SME from one Polish sector – machinery
manufacturing). This appeared to be a very
interesting direction for future research – to verify the
methodology in different sectors and large
corporations. Nevertheless, the author believes that
the developed methodology is a valuable set of tools
with high applicable potential for manufacturing
companies that would like to start or continue the
journey towards becoming a service provider. Its
results are cognitive and allow to gather basic
information that will facilitate making decisions
about the strategy, scope, and scale of the
servitization process in the company.
References:
[1] Crozet, M., Milet, E., Should everybody be in
services? The effect of servitization on
manufacturing firm performance, Journal of
Ecomonics & Management Strategy, Vol. 26, 2017,
pp. 820-841.
[2] Oliva, R., Kallenberg,R. Managing the
transition from products to services, International
Journal of Service Industry Management, Vol. 14,
No. 2, 2003, pp. 160‐172.
[3] Kozlowska, J., What Influences the
Servitization Process the Most? A Perspective of
Polish Machinery Manufacturers, Sustainability,
Vol. 12, 2020, 5056.
[4] Kamal, M. M, et. al., Servitization
implementation in the manufacturing organisations:
Classification of strategies, definitions, benefits and
challenges, International Journal of Information
Management, Vol.55, No. 102206, 2020.
[5] Baines, T., Lightfoot, H., Evans, S., State‐of‐
the‐art in product‐service systems, Proceedings
IMechE., Vol. 221 Part B: J. Engineering
Manufacturing, 2007, pp. 1543‐1552.
[6] Manzini E., Vezzoli C., A strategic design
approach to develop sustainable product service
systems, Journal of Cleaner Production, Vol. 11, No.
8, 2003, pp. 851-857.
[7] Williams A., The Strategic Management of
Product Service Systems, BRASS Centre, Cardiff
2005.
[8] Martinez, V., Bastl, M., Kingston, J., Evans, S.,
Challenges in transforming manufacturing
organisations into product-service providers, Journal
of Manufacturing Technology Management, Vol. 21,
No. 4, 2010, pp. 449-469.
[9] Fliess, S., Lexutt, E., How to be successful with
servitization – Guidelines for research and
management, Industrial Marketing Management,
Vol. 78, 2019, pp. 58-75.
[10] Ahamed, Z., Inohara, T., Kamoshida, A., The
servitization of Manufacturing An Emirical Case
Study of IBM Corporation, International Journak of
Business Administration, Vol. 4, No. 2, 2013, pp.18-
26.
[11] Neely, A., Benedettini, O., Visnjic, I., The
servitization of manufacturing: Further evidence,
conference paper in: 18th European Operations
Management, Association Conference, Cambridge,
July 2011.
[12] Meier, H., Planning and Development of
Industrial Product-Service Systems [in]: The
Philosopher's Stone for Sustainability Proceedings of
the 4th CIRP International Conference on Industrial
Product-Service Systems, Springer, 2012.
[13] Nemoto, Y., Akasaka, F., Shimomura, Y., A
Knowledge-Based Design Support Method for
Product-Service Contents Design, [in]: The
Philosopher's Stone for Sustainability Proceedings of
the 4th CIRP International Conference on Industrial
Product-Service Systems, Springer 2012.
[14] Pezzotta, G., Cavalieri, S., Gaiardelli, P., A
spiral process model to engineer a product service
system: An explorative analysis through case studies,
CIRP Journal of Manufacturing Science and
Technology, Vol. 5, 2012, pp. 214–225.
[15] Dess, G., Lumpkin, G.T., Eisner, A.B.,
McNamara, G., Strategic management: text and
cases, seventh edition, McGraw-Hill Education, New
York, 2014,
[16] Kałkowska, J. et al, Zarządzanie strategiczne.
Metody analizy strategicznej z przykładami [ang,
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
136
Volume 18, 2021
Strategic management. Strategic analysis methods
with examples) Wydawnictwo Politechniki
Poznańskiej, Poznań 2010. [in Polish]
[17] Greenacre, M.J. Correspondence Analysis in
Practice, Academic Press, London, 1993.
[18] Ziout, A., Azab, A., Industrial Product service
System: A case Study from the Agriculture Sector,
Procedia CIRP, A. ol. 33, 2015, pp. 64-69.
[19] van Ostaeyen J., Neels B., Duflou J.R., Design
of a product-service systems business model:
Strategic analysis and option generation, [in:]
Hesselbach, J., Herrmann C. (eds), Functional
thinking for value creation. Proceedings of the 3rd
CIRP International Conference on Industrial
Product Service Systems, Springer, Berlin-
Heidelberg, 2011.
[20] Mathieu, V., Service strategies within the
manufacturing sector: benefits, costs and partnership,
International Journal of Service Industry
Management, vol. 12, No. 5, 2001, pp. 451–475.
[21] Vaitkevičius, S., Merkys, G., Savanevičienė, A.,
Model of strategic analysis tools typology,
Engineering Economics, Vol. 47, No. 2, 2006, pp.
99-109.
[22] Kreutzer, R.T. Tools for the Strategic Analysis.
In: Toolbox for Marketing and Management.
Management for Professionals. Springer, Cham.
2019.
[23] Bock, A., Frank, U., Bergmann, A., Strecker, S.
Towards Support for Strategic Decision Processes
Using Enterprise Models: A Critical Reconstruction
of Strategy Analysis Tools. In: Horkoff, J., Jeusfeld
M., Persson A. (eds) The Practice of Enterprise
Modeling. PoEM, Lecture Notes in Business
Information Processing, Vol. 267, Springer, Cham,
2016.
[24] Grünig, R., Kühn, R. Strategic analysis and
planning toolbox. In: Process-based Strategic
Planning. Springer, Berlin, Heidelberg, 2011.
[25] Gierszewska, G., Romanowska, M., Analiza
strategiczna przedsiębiorstwa,[Strategic analysis of
a company] Polskie Wydawnictwo Ekonomiczne,
Warsaw, 2014. [in Polish]
[26] Fisher, T. Gebauer, H., Fleisch, E., Service
Business Development. Strategies for Value Creation
in Manufacturing Firms, Cambridge University
Press, New York 2012.
[27] Gebauer, H., Friedli T., Fleisch E., Success
factors for achieving high service revenues in
manufacturing companies. Benchmarking, An
International Journal, Vol. 13, 2006, pp. 374-386.
[28] Meier, H., Roy, R., Seliger, G. Industrial
Product-Service Systems – IPS2, CIRP Annals –
Manufacturing Technology, Vol. 59, 2010, pp. 607-
627.
[29] Tan, A.R., Matzen, D., McAloone, T., Evans, S.
Strategies for Designing and Developing Services for
Manufacturing, CIRP Journal of Manufacturing
Science and Technology Vol. 3, No. 2, 2010, pp. 90-
97.
[30] Cohen, M. A., Agrawal, N., Agrawal, V.,
Winning in the aftermarket, Harvard Business
Review, Vol. 84 No. 5, 2006, pp. 129-138.
[31] Kozłowska, J. Servitization of Manufacturing
Companies - a Proposition of Factors for STEEPVL
Analysis. In Economic and Social Development
(Book of Proceedings), 23rd International Scientific
Conference on Economic and Social Development
(ESD); Cingula, M., Przygoda, M., Detelj, K., Eds.;
Varazdin Development and Entrepreneurship
Agency: Varazdin, Croatia, 2017; pp. 619–628.
[32] Nazarko, J., Ejdys, J., Halicka, K., Nazarko, Ł.,
Kononiuk, A. & Olszewska, A. Factor Analysis as a
Tool Supporting STEEPVL Approach to the
Identification of Driving Forces of Technological
Innovation. Proceedia Engineering, Vol. 182, 2017.
pp. 491-496
[33] Ejdys, J., et al. Foresight in Higher Education
Institutions: Evidence from Poland, Foresight and
STI Governance, Vol. 13, No. 1, 2019, pp. 77-89.
[34] Szpilko, D., Foresight as a Tool for the Planning
and Implementation of Visions for Smart City
Development, Energies, Vol. 13 No. 7, 2020, 1782.
[35] Kononiuk, A. Glinska, E, Foresight in a Small
Enterprise. A Case Study, Procedia - Social and
Behavioral Sciences, Vol. 213, 2015, pp. 971-976.
[36] Szpilko D, Glińska E, Szydło J. STEEPVL and
Structural Analysis as a Tools Supporting
Identification of the Driving Forces of City
Development, European Research Studies Journal,
vol. 23, no. 3, 2020, pp. 340–363.
[37] Kozłowska, J. Servitization of manufacturing:
Survey in the Polish machinery sector, Engineering
Management in Production and Services, Vol. 12,
No. 1, 2020, pp. 20-33.
[38] Klooster, S. A., Asselt, M. B. A., Practising the
scenario-axes technique, Futures, Vol. 38, 2006, pp.
15-30.
[39] Kononiuk, A., Metoda scenariuszowa w
antycypowaniu przyszłości [eng. Scenario method in
anticipation of the future], Organizacja i Kierowanie,
Vol. 2, No. 151, 2012, pp. 33-48. [in Polish]
[40] Tan, A. R., When Product Life Cycle Meets
Customer Activity Cycle, conference proceedings:
3rd Research Conference on Relationship Marketing
and CRM, 28-29.11.2007, Brussels, Belgium,
available online https://orbit.dtu.dk/en/publications/
when-product-life-cycle-meets-customer-activity-
cycle.
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
137
Volume 18, 2021
[41] Walker, H.T., Bourne, L., Shelley A., Influence,
stakeholder mapping and visualization , Construction
Management and Economics, Vol. 26, No. 6, 2008,
pp. 645-658
[42] de Sainte Marie, G., Kierowanie małym i
średnim przedsiębiorstwem. 10 etapów [eng.
Managing a small and medium-sized enterprise. 10
stages], Poltext, Warszawa 1993, [in Polish]
[43] Szydło, J., Grześ-Bukłaho, J. Relations between
National and Organisational Culture—Case Study.
Sustainability vol. 12, no. 1522, 2020
[44] Szydło, J., Kulturowe ramy zarządzania [eng.
Cultural management framework], Wydawnictwo
Naukowe Sophia, Katowice 2018. [in Polish]
[45] Harrison, R. Understanding our Organizations
Character, Harvard Business Review, vol. 5-6, 1994,
pp. 119-128
[46] Handy, Ch.B., Understanding Organizations,
[Fourth Editions], Oxford University Press, 1993.
[47] Buics, L. Eisingerné Balassa, B. Servitization of
public service processes with a simulation modelling
approach. Engineering Management in Production
and Services, vol. 12, no. 3, 2020, pp. 116-131.
Sources of funding for research
presented in a scientific article or
scientific article itself
This research was funded by the NATIONAL
SCIENCE CENTRE, POLAND, grant number
2016/23/N/HS4/03547. The research was
conducted within the scientific project
“Methodology of strategic analysis of the
company for the purposes of product-service
integration”.
Creative Commons Attribution License 4.0
(Attribution 4.0 International, CC BY 4.0)
This article is published under the terms of the Creative
Commons Attribution License 4.0
https://creativecommons.org/licenses/by/4.0/deed.en_US
WSEAS TRANSACTIONS on BUSINESS and ECONOMICS
DOI: 10.37394/23207.2021.18.14
Justyna Kozłowska
E-ISSN: 2224-2899
138
Volume 18, 2021
