Posted on by Judy

Commission work is always interesting.. My wife owned 6 Chrysler franchises and i was always interested in her org and leadership models. Her org model was bureaucratic on paper and humanistic in practice – sometimes a dichotomy!! On the other hand, she was an industry leader in employee and customer satisfaction (but not in profit) Which is more important in entrepreneurship?

Employee and customer satisfaction is important in entrepreneurship due to the below reasons –
1. Employee satisfaction results in retention of employees thus avoiding hiring and firing costs while ensuring employee skill development which results in increased productivity of the employees. This fetches more revenues for the firm and profits due to cost reduction.
2. Customer satisfaction results in customer retention thus increasing the value that customer provides through increase in purchases. These customers also provide positive feedback resulting in acquiring new customers thus increasing revenues and profits for long-term.
 
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  1. Why customer satisfaction is important and what tactics do companies use to improve customer satisfaction?
  2. How can we justify the below statememts in regards to customer service? 1)Growth of business is only possible by the customer satisfaction: 2) Customer satisfaction leads to repeat sales: 3) Customer satisfaction leads to business success: 4) Customer satisfaction leads to survival of business:
  3. Please give your views on this post. Theme 1: Management in the 20th century took a taskmaster approach to the business by ensuring efficiency at all levels of the business even at the disregard of employee satisfaction. This classical approach to management was data centric and concerned it self heavily on the output versus cost of each employee. Managers in this environment would be ask to micro-manage employees to produce the highest efficiency. In contrast the 21st century approach better known as the behavioral perspective of management concerns itself more with the physiological well being of it’s workforce. Managers of this approach are more likely to give their employees “space” to work while providing work environments that focus on team work, acceptance, and a social aspect to work. James West reflects the classical approach to management and relates closely to Fredrick Winslow Taylor whereas Artemus Gordan takes on a more behavioral perspective to management with thinking more in line with Abraham Maslow and Douglas McGregor. Given the shift in the times Artemus’s perspective would prove to be more successful. More than ever employees make demands of their employers. Nowadays, it is not just enough to provide people a minimum wage, but it is necessary to provide them with “soft” factors in order to keep their interest in the companies vision. Theme 2: Five Unique Skills: 1. Relationship Building 2. Goal Setting 3. Team building 4. Information processing 5.Motivation It would benefit West to look at employees like that are the first and most important resource that the company has. I often ask a newly promoted manager which resource they feel is the most important: an employee or a customer. To some of their surprise I explain that the employee is the most important because it takes a happy employee to make a happy customer.
  4. Select the industry in which you work, worked or would like to work, or simply have an interest in. Which companies are the leaders in that particular industry? What practices have made them become a leader? What are the risks those companies face? Please cite your sources