...The Important of Customer Satisfaction and Loyalty in Business. 1.0 Introduction Customer satisfaction and loyalty is two important keys to be success in the business. It must be implement in all business areas such as servicing, hospitalisation, health care and others. In business environment, quality improvement have become part of everybody life and not a task or duty anymore. (Mehra & Ranganathan, 2008). It is not enough if only focus to satisfy the customer and it won’t be good to business until get the repurchase power from customer.(Kandampully & Suhartanto, 2000) Lot of research on customer satisfaction and loyalty has been done, especially on retention and economic performance.(Kristensen & Martensen, 1996; Rucci, 1998; Duboff & Heaton, 1999; Edvardsson, 2000; Bernhardt, 2000; Eskilden & Kristensen, 2013). More than that, this two keys also play role in business for revenue improvement, profitability and cash flows.(Heskett, 1994; Reichheld & Teal; 1996, Itner & Larcker; 1998; William & Nauman, 2011). This to make sure company has more than enough fund, can expend and become stronger. We will see how important this two keys in order to make business running smooth and at the same time can achieve company target. At the end, customer will get what they expected and business will get positive impact and avoid something bad from appear. 2.0 Customer Satisfaction and Customer Loyalty 2.1 Customer...
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...Trader Joe’s (MMLD): Motivation, Management, Leadership & Development Trader Joe’s is a major food retailer who has developed quite the name for themselves. It has well over 350 stores in over 32 states and is expected to continually grow over the next few years (Bond, 2012). For over 50 years, Trader Joe’s has been providing quality customer services, products and a unique shopping experience for its customers. They have come a very long way from when they first officially opened their doors. Trader Joe’s started when its founder Joe Coulombe wanted to find a way to differentiate his 7-Eleven stores (Schermerhorn, Osborn, Uhl-Bien & Hunt, 2012). In the food retailer industry, Trader Joe’s has developed a process that works well and allows them to be a big competitor. To be successful a company has to have employees that can effectively and efficiently operate the business. Trader Joe’s knows all about surrounding their company with quality employees. Making sure they hire the right employees has been one of their main reasons for success (Kowitt, 2010). However, to retain loyal employees it’s very important to have a system in place that motivates employees. Thru motivation companies are able to motivate its which ultimately leads to an increase in job satisfaction and performance. Many companies utilize the Reinforcement Theory to motivate employees. The theory mainly observes the influences that consequences have on individual behavior (Schermerhorn et al., 2012)...
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...intelligence have a negative impact on employee morale which directly impacts team members. We know that the biggest reason that people give for leaving an organization is the relationship with the leaders above them (Goleman 1998). Emotional and rational intelligence are both important to our leader’s success. Despite both being important qualities to our leaders, those leaders who emerge at the top are known to possess more emotional intelligence than intellectual knowledge, this was portrayed in the study done on senior executives of 52 global organizations. According to Goleman(1998) Emotions originate from limbic system which is located in the brain. Self-awareness, managing emotions, motivating others, showing empathy and staying connected are key characteristics of emotional leaders. When it comes to self-awareness, these leaders know their strength and weaknesses. This enables them to lead with confidence which comes from the inner self. Managing emotions enables them to handle and deal with stressful situation and also have self-control. Managing this emotions...
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...and after a purchase.” And Business dictionary will tell you that it’s “All interactions between a customer and a product provider at the time of sale, and thereafter.” But what is it really? And why is it important to you as a fast-growing business? Customer service is every interaction with a customer. Customer service started out as help offered at a desk at the back of a department store, and evolved with the invention of the telephone. In today’s hyper connected world, customer service is more than just the helpdesk agent that answers your questions when you call an 800 number for help. It’s grown to encompass every interaction that a customer has with a brand. It includes phone, email, chat, web forms, and social communications, as well as self-service support sites. And it happens before, during, and after a sale. Awesome support is critical for small businesses. In a world where small businesses need to do more than just sell products—they also want to build relationships—customer service is a key part of the promise that your brand makes to a customer. It’s more than just providing answers. It’s helping customers even when they don’t know they need help. It’s teaching them how to do more with your products. It starts with a smile and a friendly word, and finishes with sharing your expertise—even when it has nothing at all to do with your products. And for small businesses, customer service can be your secret weapon. Multi-channel support is table stakes today...
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...last page to chart your scores. 1. I can explain my actions: Almost Never Rarely Sometimes 0 1 2 Almost Always 4 Usually X 3 3 2. Other people don't see me as I see myself: Almost Never Rarely Usually Sometimes X 4 3 2 1 Almost Always 0 2 3. I understand the feedback that others give me: Almost Almost Never Rarely Sometimes Always Usually X 0 1 2 3 4 3 4. I can describe accurately what I am feeling: Almost Almost Rarely Sometimes Never Always Usually X 0 1 2 3 4 3 5. Things that happen in my life make sense to me: Almost Almost Never Rarely Sometimes Usually Always X 0 1 2 3 4 4 15 Total for Self-Awareness: -1© Coaching Leaders Ltd 2008 This product is free for self-assessment only. To use it with others, you must purchase a license from www.practicaleq.com/products/eqlicense.html Self-Awareness 1. I can explain my actions: Almost Rarely Sometimes Never 0 1 2 Almost Always 4 Usually 3 2. Other people don't see me as I see myself: Almost Almost Rarely Sometimes Usually Always Never 4 3 2 1 0 3. I understand the feedback that others give me: Almost Almost Rarely Sometimes Usually Always Never 0 1 2 3 4 4. I can describe accurately what I am feeling: Almost Almost Rarely Sometimes Usually Always Never 0 1 2 3 4 5. Things that...
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...leader’s communication be on point. There are several communication strategies that a leader should employ that will help him/her be a strong, respected leader and in turn appreciated - maybe even loved by his/her team. This type of leadership will lead to a cooperative, collaborative and most importantly, a successful work environment. When communication from a leader is broken, much like the game “telephone”, the entire team’s communication becomes broken. Signals are crossed and the wrong messages are sent. The eventual effect on the team, and overall organization, can easily and quickly become negative and even unhappy. While many organizations have embraced the need for good communication strategies, and believe in the difference it makes, implementing those strategies can be a challenge. The following essay discusses two main issues about communication and leadership: Effective Leadership Communication Strategies in today’s workplace and the Barriers That Effective Leaders Must Avoid in order to lead effectively and build a productive work environment in spite of the many changes occurring in today’s world. Effective Leadership Communication Strategies There are some very key communication strategies that leaders of every organized group or team need to know and apply. They are somewhat simple and yet can make a powerful impact on a team as a whole and on the individuals of that team. Know your audience The first of these is to know your audience. Leaders with effective...
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...and success. Emotional intelligence, Leadership and success are very subjective terms and can be interpreted in various ways.. Hence an attempt is made to define them and set the boundaries of the analysis. Firstly the foundations of emotional intelligence are established and boundaries of it is defined. The scope of leadership and success is defined in the organisations in OECD countries. Couple of examples from India and China is added to differentiate how diverse the leadership and success in these countries compared to US corporations. The leadership excludes the political leadership as such and ability to win votes even though the shared vision, hope (President Obama’s Hope) and mass communication is as much an application of EI as any corporate leaders. Some of the practical aspect of the EI is added in this article to make it more direct and meaningful to practical organisational life. The applications of Intentional Change Theory, shared visions are discussed as useful tool. At an individual level the Positive Emotional Attractor and Negative Emotional Attractor are established. Scientific basis of EI measurement and the research from neurological study is presented to complete the analysis. How the meditation, mindfulness and Yoga fit into overall scheme is discussed. . 1. Introduction The main intent of the theoretical treatise is four fold. The theoretical back ground and body of knowledge on the subject of emotional intelligence is introduced followed...
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...different on the individual. Kimberly Clark run by their newly hired from Uniliver’s management, Sergio Nacach, have gone up in the rank in the business. Kimberly Clark have successful not only the business result, despite of the situation of the economic in the Andean region, they also awarded as the Great Place to Work Institute. In Ecuador and Peru 2007, Kimberly-Clark was ranked number one on the best place to work list, and number four in Columbia. Sergio Nacach implements a very attractive way of management style. He closes the gap between the employee and him. He is not the type to go away with the power. Employees of any rank can walk in his office and discuss. He will drop everything he worked on and talk. This type of the management style encourages the employees to come up with the ideas that somehow never showed up in the business world. This method also greatly reduces tension in the work. Getting scolded by the boss is an old scheme. Nacach believes that trial and Error makes you grow even stronger and smarter. It makes you and the job better and better. Kimberly Clark success doesn’t only come from their products package or design or their brand names. They are proudly to present that their employment policies are what make the internal factors fully optimized. Their most valuable assets, Human, is the key to the...
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...MINI-CASE CHAPTER 8: TEAM CASE ANALYSIS REPORT Mini-Case Chapter 8 – Paying Attention Pays Off for Andra Rush Chris Gerrity, Lucas Salazar and Ray Williams Lawrence Technological University 1 Mini-Case Chapter 8 2 Table of Contents Synopsis .......................................................................................................................................... 3 Problem Identification .................................................................................................................... 3 Techniques Used ............................................................................................................................. 4 Techniques Recommended ............................................................................................................. 5 Additional Leadership Techniques ................................................................................................. 6 Conclusion ...................................................................................................................................... 7 References ....................................................................................................................................... 8 Mini-Case Chapter 8 3 Synopsis Andra Rush has been working hard and listening to other people her entire life. She is a nursing school graduate and took courses at the University of Michigan’s MBA program. She is also the proud owner...
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...EFFECTIVE LISTENING AND PRESENTING: ESSENTIAL SKILLS FOR A MANAGER TABLE OF CONTENTS 1 Introduction 1 2 Listening 2 2.1 Listening as a Communication Skill 2 2.2 Why are Managers Inherently Poor Listeners? 2 2.3 Key Factors to Effective Listening 3 3 Presenting 7 3.1 Presentation as a Communication Skill 7 3.2 Why are Effective Presentation Skills Important? 8 3.3 Key Factors to Effective Presenting 9 4 Action Plan for the Next Three Months 13 5 Conclusion 15 6 List of References 16 INTRODUCTION Communication is at the heart of everything done by a manager. Thus, effective communication is considered as a major challenge and a responsibility. A majority of a manager’s day is spent on communicating with the subordinates. As stated by Daft, Kendrick, and Vershinina (2010), “Managers spend at least 80% of every working day in direct communication with others. In other words, 48 minutes of every hour is spent in meetings, on the telephone, communicating online or talking informally while working around. The other 20% of a typical manager's time is spent doing desk work”. The need for effective communication has been further increased due to the turbulent nature of the today’s business environment. Therefore, having effective communication skills is arguably one of the vital attributes that a manger has to possess, throughout planning, organizing, leading, directing and controlling processes. Basically, the manager should act...
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...Final Paper – BRL Hardy: Globalization of Australian Wine Company Western International University LDR 645 – Innovative leadership global May 24th, 2011 1. Executive Summary BRL Hardy is a global wine company that has engaged in a strategy that geared to create multidimensional capabilities for the company but faced with decision dilemma resulted from management tensions. The author of this paper believes the source of management tension is lack of coordination between management teams and absence of precise lines of authority and responsibility. According to author of this paper, Hybrid style of management is the best solution for management tensions in the company for it gives the best of both worlds for since allows management to centralize some important functionalities and activities of the company while enjoying flexibility of decentralization of authority and responsibility. 2. Industry background The history of the Australian Wine Industry originates back to 1788 when Captain Arthur Philip a leader of European settlers introduced it into Australia (Bartlett, Ghoshal & Beamish, 2008, p.666). According to the case study, Australian is originally a beer drinking country, and in 1969 the industry experienced a slow down whereby annual per capita wine consumption was at 8.2 liters as compared to 100 liters per person per annum in France and Italy. The Australian Wine Industry also underwent through transformation and the following changes...
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...different situations. Knowing differences in personality traits can help predict more accurately how people will tend to act in different situations. Behavior: Leadership behaviors are a function of intelligence, personality traits, emotional intelligence values, attitudes, interests, knowledge, and experience. Leader behavior reflects an interaction between personality traits and various situational factors. Over time, leaders learn and discern the most appropriate and effective behaviors. Individual difference and situational variables play a pivotal role in a leader’s behavior. Changing behavior, especially long-standing patterns of behavior, can be quite difficult. Learning how to change one’s own behavior and others’ behaviors is a key leadership skill. Knowing how to change and modify followers’ behaviors so that it helps the followers and the organization’s success is very important. Behaviors are thought to be more malleable than traits, thus they can be taught to managers to increase their leadership abilities and effectiveness (Norris, 2000). Intelligence: Intelligence is an umbrella term describing a property of the mind including related abilities, such as the capacities for abstract thought, understanding, communication, reasoning, learning, learning from the experience, planning, and problem solving (Wikipedia, 2010). Intelligence is susceptible to modification through the manipulation of environment. Understanding intelligence is divided into three components:...
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...business was changed to increase profitability and the company also applied diversification and innovation to gain competitive advantage in a competitive market. With the strategy and product diversification, the company was not getting the desired result. Two years after (in 1999), the company engaged the services of MPC project to strengthen its profit margin. Strategies adopted: In 1997, the management of Delamere Ltd wrote a revised business strategy and a new business plan which is summarized below: • To continue manufacturing Pottery products with higher technology and equipment to achieve efficient and flexible production. The company intends to achieve this strategy through planning, efficiency, factory layout, sales forecast, fuel utilization, reduced cost, quality and enhanced communication. • To improve on quality and saleability of pottery brands by product and service improvement programme. • To improve profitability by improving gross margins and additional turnover. Every business develops new products to gain competitive advantage. The development of new product succeeds the position to satisfy the needs of the market or resourced based(company competing with its resources)(Williamson et al 2011). Delamere Pottery limited also introduced product development and diversification. Also, the company reduced its operational cost to achieve maximum profit. The Deficiencies:...
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...Entrepreneurship Centre (UDEC). Also houses the Institute of Insurance and Risk Management, and the Career Advice Placement and Practical Training Bureau (CAPPT). UDBS has the following line of services; Teaching; in this line of service, UDBS offers courses in Accounting, Finance, General Management and Marketing at various levels of undergraduate and postgraduate studies. Research; UDBS conducts research projects for the development of Tanzania and the rest of the world, this is through researching on issues that affect the societies of these places. Consultancy; this is another line of service offered by UDBS, the organisation provides advisory services to the community in line with obtaining socio-economic development, the key thrust of the UDBS is to offer programs whose graduates are more entrepreneurial, hence job creators rather than job seekers. UDBS has the following Vision; “UDBS seeks to become a world class business school that is responsive...
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...EMBA Advanced Market Analysis and Strategy - MAR 6087 SPSS Analysis PulteGroup, Inc. – South Florida Division By: Scott Mairn and Irina Prell November 30, 2012 Table of Contents I. Executive Summary II. Company Overview III. Research Objectives/Approach IV. Sampling Description V. Data Analysis and Interpretation VI. Implications VII. Conclusion and Future Direction Executive Summary This report will take a look the results from the Servqual survey research conducted for the PulteGroup, Inc. South Florida Division to analyze their service in September of 2012. The objective of this research is to assess how the 5 factors of the Servqual survey affect the homeowners’ attitude towards service in PulteGroup communities. Each homeowner was asked questions consistent with the intentional model of Servqual instruments which are designed to measure reliability, responsiveness, assurance, apathy, and tangibles of a service. SPSS software by IBM was used to analyze the results. The following methodologies were utilized: • Attitudinal Scores • Heavy Half Theory • T-test • Factor Analysis • Multiple Regression Analysis The third party management companies employed by PulteGroup in two communities, VillageWalk of Bonita Springs and VeronaWalk of Naples, delivered the survey to homeowners. We received 34 fully completed surveys, which were fully analyzed. The results showed a wide range in attitude with scores ranging from 125 to 725. The...
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