In trying to respond to this question, many employees would think only of the customer who purchases their organization’s goods or services – the external customer.
(more…)Category: Profitability and growth
2 Major Reasons Companies Die
There are two major causes of business failure that result in closure or bankruptcy. The first is a company’s inability to sell its products or services, and the second is a company’s inability to get paid on time, which leads to it running out of money.
1. A company’s inability to sell its products or services: Nothing happens in a company until a sale takes place and the sales person brings in the money that everybody can live off. (more…)
Building Profitability in a Service Organization
If there is one strategy tool for building profitability in a service organization, it is the service-profit chain.
This ‘chain’ works based on the natural concept of chains which is that a chain is only as strong as its links. Hence, to make a chain strong, all the links must be made strong. Conversely, if any link of a chain is weak, the whole chain is as weak as that link. (more…)