Know the characteristics of world-class service organizations and be familiar with the four levels of service performance
Understand what is required for moving a service firm from service loser to service leader.
Know the long-term impact of customer centricity on profitability and shareholder value.
Levels of Service Performances
Service Losers: These firms are at the bottom of the barrel from customer, employee and managerial perspectives and get failing grades in marketing, operation and HRM
Service Nonentities: They are dominated by a traditional mind-set typically based on achieving cost saving through standardization.
Service Professionals: They have a clear marketing professional strategy
Service Leaders: Recognized for their innovation in each functional area of management as well as for their superior internal communication and coordination.
HURDLES IN REORIENTING AND FORMULATING STRATEGY
According to Chan Kim and Renee Mauborgne, leaders face four hurdles in reorienting and formulating strategy.
We started our discussion with characteristics of world-class service Organizations and their categorization into four levels of service performance.
These four levels including loser, nonentity, professional and leader were discussed in detail in the context of three functional areas of any organization.
Understanding important aspects like what is required for moving a service firm from service loser to service leader, were deliberated upon.
Finally, we discussed the long-term impact of customer centricity on profitability and shareholder value.
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