...ABC HOSPITAL 1. What strategies can the organization take to survive, improve its performance, and compete with other hospitals over the next five years? 2. What are some advantages or disadvantages of these strategies? Provide specific examples to support your answers. Some of the strategies ABC hospital could take to survive, improve its performance, and compete with other hospitals over the next 5 years are 1. Cutting of expenditures 2. Reducing re-admission 3. Use of simulation 4. Increase revenue 5. Standards and guidelines ABC is financially handicapped and to survive, it has to cut its expenses on marketing on advertisements, cut overtime, cut supplies, reduce staff, and increase revenue. Some of these strategies have advantages and disadvantages, but considering it current position it needs to take some steps in order to survive or go out of business. For such an organization increasing revenue will not be in its interest because there is the tendency that it will lose handful of its customers to other hospitals or clinics. Another step the ABC organization can take to survive such financial predicament is the reduction of staff. This is not a good idea, but the organization has to uphold such strategy in order to survive. Reducing the number of staff will put huge amount of money back to the organization’s coffers. Many organizations see this idea as a way out, but it boomerangs at last. When the staff of an organization is reduced...
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...Netflix’s current subscriber base is built on early adopters; these individuals, with free VOD access, will support and help market the VOD platform. Partnerships must be established to expand connectivity options (Exhibit 2) to overcome a key barrier. Strengthening relationships with studios and TV networks is a primary focus in order to obtain digital distribution rights. As a content risk management measure, Red Envelop Entertainment will continue to aggressively pursue high quality content for acquisition. Several alternatives (Exhibit 1) were evaluated and ranked against key decision criteria. Customer satisfaction (quality of the experience) is the most important element to Netflix’s business. Netflix has one channel for customers, their website. With high customer acquisition costs, a positive experience is necessary to reduce churn rates. High customer satisfaction will increase revenue growth by adding and retaining subscribers. As a public company, Netflix faces scrutiny by the investor community and growth targets must be achieved. Value innovation has the ability to differentiate Netflix from the competition. This is evident by the success of the recommendation system. A new strategy must add value for subscribers while reducing costs for Netflix. Leveraging Netflix’s biggest success, the recommendation system, will provide...
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...Linking Customer and Employee Satisfaction to the Bottom Line Also Available from ASQ Quality Press: Analysis of Customer Satisfaction Data Derek R. Allen and Tanniru R. Rao Customer Centered Six Sigma: Linking Customers, Process Improvement, and Financial Results Earl Naumann and Steven H. Hoisington Customer Satisfaction Measurement Simplified: A Step-by-Step Guide for ISO 9001:2000 Certification Terry G. Vavra Improving Your Measurement of Customer Satisfaction: A Guide to Creating, Conducting, Analyzing, and Reporting Customer Satisfaction Measurement Programs Terry G. Vavra Measuring Customer Satisfaction: Survey Design, Use, and Statistical Analysis Methods, Second Edition Bob E. Hayes The Trust Imperative: Performance Improvement through Productive Relationships Stephen Hacker and Marsha Willard Customer Satisfaction Measurement and Management Earl Naumann and Kathleen Giel Performance Measurement Explained: Designing and Implementing Your State-of-the-Art System Bjørn Andersen and Tom Fagerhaug Value Leadership: Winning Competitive Advantage in the Information Age Michael C. Harris To request a complimentary catalog of ASQ Quality Press publications, call 800-248-1946, or visit our Web site at http://qualitypress.asq.org . Linking Customer and Employee Satisfaction to the Bottom Line A Comprehensive Guide to Establishing the Impact of Customer and Employee Satisfaction on Critical Business Outcomes Derek R. Allen and Morris...
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...Measuring Customer Satisfaction Introduction – Customer Satisfaction The definition of customer satisfaction is very simple. A customer is satisfied whenever his or her needs, real or perceived, are met or exceeded. So how do you know what the customer needs, wants and expects? It’s very simple. You ask, and then you provide what the customer wants and more (Gerson, 1993, p.17). There exists an interaction between the desired results and customer satisfaction, customer loyalty and customer retention. Without the customer it is impossible for any business to sustain itself. Achieving the desired results is frequently a result of customer actions. Any business without a focus on customer satisfaction is at the mercy of the market. Without loyal customers eventually a competitor will satisfy those desires and the customer retention rate will decrease. There are several levels of customers: 1 1. Dissatisfied customer - Looking for someone else to provide product or service. 2. Satisfied customer - Open to the next better opportunity. 3. Loyal customer - Returns despite offers by the competition. Dissatisfied customers are an interesting group. For every one that complains there are at least 25 who do not. Dissatisfied customers by word of mouth will tell eight to sixteen others about their dissatisfaction. With the web some are now telling thousands. 91% of dissatisfied customers never purchase goods or services from the company...
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...IMC and Customer Satisfaction Strategy Running Head: IMC and Customer Satisfaction Strategy MKT 500 Integrated Marketing Communication (IMC) and Customer Satisfaction Strategy Professor Thomas L. Matula, Ph.D November 27, 2011 IMC and Customer Satisfaction Strategy 1 Integrated Marketing Communication (IMC) and Customer Satisfaction Strategy Advertising is important in any line of business. Advertising is how a business makes money and stay strong. There are many different ways to advertise a business and the advertising methods should fit each category being targeted. If the appropriate advertising method is used it could possibly add more customers which would increase the revenue. There are other things important when it comes to advertising such as monitoring if the advertising methods are working and also keeping track of customers’ experiences and how they feel about the product or service being offered. In this report, Cupcake Jewel’s advertising strategy, the effectiveness of advertising, promotional strategies, approach to measuring customer satisfaction, and how gaps in customer expectations and experiences will be handled will be discussed. Discuss the company’s advertising strategy and how it aligns with its marketing goals. Advertising Strategy Cupcake Jewel has a certain market that is targeted and the advertising strategy is based on each of the targets. The targets are different so therefore the advertising strategy for each one varies. Cupcake...
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...Best Practices in Measuring Customer Satisfaction Lynette Diaz Devry University INTRODUCTION How do you know if your customers are satisfied? Are they more pleased with your company this year than they were last year? How does customer satisfaction of your customers compare that of your competitors? Does this affect your company’s profits? In order to answer these questions, you need hard data. You can do this by measuring and monitoring customer satisfaction on a regular basis. Customer satisfaction is linked to profitability. Keeping your customers happy will keep them loyal and if they are loyal they will buy more and refer your company to other customers. “Customer satisfaction is one of the strongest indicators of customer loyalty” (Lean Consulting Inc.) A study has shown the connection between a company’s profits and customer satisfaction. * “It’s six to seven times more expensive to gain a new customer than it is to retain an existing customer.” * “A 5% increase in customer retention can increase profits by 25% to 95%.” (Reichheld, 1993) There are many different practices to measuring customer satisfaction. Some of the best practices used are comment cards and formal surveys, focus groups, direct customer contact, field intelligence, studying complaints, and monitoring the internet. Depending on the industry, some work better than others. Customer cards and surveys work better in the retail industry. They can work well in finding out how each...
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...Strategic Plan Part III: Balanced Scorecard Sarah Jobst BUS/475 January 3, 2014 Ben Olmos The reason an individual opens a business is to be successful and usually to make a profit. My vision and my mission for my business are to be one of the most popular eateries in the metro Atlanta area. In addition, should be a highly respected business and not just another business serving food. Getting to know the customers on a personal basis and prove friendly service that is appreciable and that leaves customer with a sense of superior service that keeps them coming back. But mostly, the café will provide great food that people will enjoy to eat and crave. The vision for the café is to see it open at multiple locations throughout the surrounding so that the entire area has access to the unique options we offer. Financial Perspective Because the initial location will be in the metro Atlanta area, it can hold a considerable market share over other restaurants in that area. After that the financial perspectives include market share, the vision influences the market share in this way and it allows for enhancement of profitability and the competitive position. More restaurants around the metro Atlanta area can have the same supply chain operations...
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...influences the values and culture of the organization along with her honesty, hard work, and treating people fairly. She is always moving through the restaurant inquiring about individual needs. The restaurant also gives back to the community through sponsorships for softball and Boy Scouts. While they are successful and business seems to be growing every year, their hours of operation do not seem to be too flexible or adaptable as they close at 6:00 p.m. and are closed on Sundays and Mondays. 1. What roles do values play in how Drexler’s Bar-B-Que interacts with its neighbors and customers? Values play a major role in how this restaurant interacts with its customers. It begins by the role Mrs. Scott plays. She seems to be very attentive when it comes to the customers by constantly providing excellent service to individual needs with a smile, and her treating everyone fairly and with respect. Customers are the...
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...Measuring Customer Satisfaction Customer satisfaction is perhaps one of the most talked about challenges of organizations in the public and private sectors. Indeed, this represents every organization’s sole purpose, and is at the heart of every organizations mission statement. It is seen as a key differentiator and increasingly has become a key element of business strategy. Customer satisfaction is tied directly to profitability. “Customer wants and needs drive competitive advantage, and statistics show that growth in market share is strongly correlated with customer satisfaction.”(Evans, 2010). If your customers are happy, they tend to be loyal. And if they’re loyal they not only buy more, they refer other customers. It is critical to give customers the opportunity to provide feedback about their overall satisfaction level and specific likes and dislikes. A company will lose business, miss growth opportunities, and put itself at a competitive disadvantage without an effective customer satisfaction research program in place. Therefore, it is very important to the success of the business to know right away if they are doing something that frustrates or dissatisfies the customers. According to Evans & Lindsey (2009) in Managing Quality, “To create satisfied customers, the organization needs to identify customers’ needs, design the production and service systems to meet those needs, and measure the results as the basis for improvement” (pg. 190). A customer satisfaction program...
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...How to Measure Customer Satisfaction Murali Chemuturi Introduction Project-based organizations place a lot of emphasis on customer satisfaction, and rightly so, as customer satisfaction is the key for improving these companies’ internal processes. A customer satisfaction rating (CSR) is often obtained through a questionnaire—the customer satisfaction survey (CSS). This method, however, suffers from the drawback of customers likely being emotionally influenced while filling out these questionnaires. Naomi Karten, an expert on the subject of customer satisfaction (www.nkarten.com), states in her seminar Tales of Whoa and the Psychology of Customer Satisfaction: “People tend to rate service higher when delivered by people they like than by people they don’t like.” Karten also goes on to describe what one can do to be “likable.” More often than not, Karten contends, the CSS rating received from the customer represents perceived feedback rather than impartial feedback. This is not to say that companies do not get any value from customer-filled CSR forms. But they must recognize that responses can be emotionally based, and that the customer is not one person, but an organization—meaning multiple people. While so, only one person represents the organization and fills out the survey. Would this person consult all concerned before filling it out? Ideally, he or she should, but often, he or she will not. This gives rise to the need for a way to compute a CSR based on internal data—data...
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...Impact of Service Quality on Customer Satisfaction: Evidence from the Restaurant Industry in Pakistan Ubedullah Amjad Ali Shaikh, International Islamic University, Islamabad, Pakistan ABSTRACT The purpose of this study is to contribute to the literature of service quality importance in restaurant industry. The study has been based upon the Servqual technique and Dineserv tool of improving the quality by the service providing organizations. The study is undertaken from the perspective of Pakistani Restaurant Industry and the customers' perceptions vis-à-vis restaurant dining. Two variables of Servqual, i.e. Tangibles and Responsiveness, have been examined to demonstrate the impact of service quality on the industry. The results endorse the importance of enhanced complementary service standards in restaurant industry. Ultimately, the findings provide an insight for the Pakistani restaurant service providing establishments and suggestion have been made for the caretakers of the industry on ways to improve service quality. INTRODUCTION The restaurant industry has evolved over the past few decades from merely a meals providing facility to an augmented combination of service associated features. These features are emphasized to satisfy the complementary needs of its customers. This notion of satisfaction is mainly attributed to the quality of service. Hence a lot of probing has been going on for the past few decades to rationalize and prove a direct relationship between the...
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...recovery strategy. It also demonstrates that consumers were unable to recognise high-quality service and high-consistency products in chain restaurants. Additionally, appropriate recovery strategies were proposed to assist restaurateurs in reducing service failure. A number of conclusions and recommendations regarding practice and future research are made. Keywords: service failure; service recovery; recovery strategy; chain restaurant; critical incident technique Introduction Modern customers are very demanding and have easy access to diverse information channels. Customer demands for value create a strong focus on a combination of quality, fair price and good service in their purchases (Power, Konrad, Cuneo, & Treece, 1991). However, when a specific service delivery link results in mistakes and an inability to satisfy customer expectations regarding service or products, the result may be negative experiences and reactions for customers, including negative word-of-mouth or customers switching to other providers (Andreassen, 1999;...
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...CUSTOMERS SATISFACTION TOWARDS HONDA ACTIVA -A STUDY WITH SPECIAL REFERENCE TO NILAMBUR The Project Report Submitted to the partial fulfillment of B.com Degree Programme (CCSS 2009 Admission) By ABDUL SHAMEER. P AZAJBCM018 DEPARTMENT OF COMMERCE AMAL COLLEGE OF ADVANCED STUDIES, NILAMBUR 2012 DEPARTMETN OF COMMERCE AMAL COLLEGE OF ADVANCED STUDIES MYLADI, ERANHIMANGAD PO, NILAMBUR 679393 Certificate This is to certify that Mr. Abdul Shameer. P (Reg No AZAJBCM018), a student of sixth semester B.com Degree Programme has undertaken a project survey on Customer satisfaction towards Honda Activa under the supervision of Mr Abbas Vattoli, Assistant Professor, Department of Commerce, Amal College Nilambur from 12/12/2011 to 05/03/2012. The project work entitled “CUSTOMERS SATISFACTION TOWARDS HONDA ACTIVA -A STUDY WITH SPECIAL REFERENCE TO NILAMBUR” embodies the original work done by Mr Abdul shameer P during his above project period During the period his conduct was good and we wish him all success for his promising future. For Department of Commerce Dhanya. KA HOD of Commerce Amal College of Advanced Studies, Nilambur ACKNOWLEDGEMENT This Project Report entitled “CUSTOMERS SATISFACTION TOWARDS HONDA ACTIVA -A STUDY WITH SPECIAL REFERENCE TO NILAMBUR” has been prepared by me and I had under taken project survey under the supervision of Mr Abbas vattoli, Assistant Professor...
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...What are the main reasons Citibank fails to measure customer satisfaction and what can be done to change this, and the other steps we have to take in order to answer the question. We would like to thank all those who have given us their generous help, commitment and enthusiasm, which have been the major driving force to complete the current paper. However, we should thank every member in the team at first. Everyone in the group tried their best to find sources and materials, finish their own part in time. And thanks to our university and all the teachers who give us academic knowledge and skills. This proposal is mainly finished by ourselves. There must be some mistakes, because of our carelessness and limitation of knowledge. We are sincerely looking for your feedback. Yihai Wang, Marten Moolhuizen, Bryan Rinders, Alrawahi Hemi and Yikun Du 2015.10.20 Enschede Executive Summary The reason why this proposal is made is because of a change in strategies in 1995, the California division of Citibank decided to implement a new performance scorecard to measure a more efficiently performance management of various divisions within the company. The report is based on the analysis of this classic management case about the performance management tool the Citibank introduced into the company, the balance scorecard. The question we came up with after the analysis of the case is; why one of the indicators, customer satisfaction, has different results from the other financial...
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...develop mechanisms for manufacturing managers to participate in strategy formulation will have improved competitive capabilities and better performance than firms that do not. Using the result from a large-sample survey, this study develops valid and reliable measures of advanced manufacturing technology and manufacturing managers’ participation in strategy formulation as well as the competitive capabilities of a firm. Linear structural equation analysis ŽLISREL. results show that the relationships between a firm’s practices in these two areas and its competitive capabilities are found to be statistically significant and positive. Also, high levels of these competitive capabilities lead to high levels of performance as measured by customer satisfaction and marketing performance. q 1999 Elsevier Science B.V. All rights reserved. Keywords: Empirical research; Operations strategy; Measurement and methodology; Technology management 1. Introduction Expanding global...
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