Transform Business Extraordinary Encounter -Myassignmenthelp.Com

Question: Discuss About The Transform Business Extraordinary Encounter? Answer: Introduction In the era of mass manufacturing and marketing, the primary purpose of a business relies on building a customer desire in order to earn a customer. In other words, the role of a business is to manufacture products which would not only meet the desires of the consumers but also to produce the desires that the product will accomplish along with generating revenue for stakeholders. The thesis statement of this argumentative essay will evaluate the major objective and purpose of a business enterprise which lies on customer satisfaction and retention. A consumer is generally considered as an individual who invests on a business to obtain products and services. The word user is labelled to the person who accesses and utilizes the products and services without any direct payment of the product. It must be noted that the primary function of marketing is to exert a pull on the prospect. There lies a specific reason behind the establishment of an organization. According to Peter Drucker, renowned marketing consultant, foundation of any business depends on the customers who further help in its sustainability. Entrepreneurs consider business as a fundamental part of themselves. Business owners often fail to identify the role of the business must function in the greater domain of ecosystem and thus the adaption is essential to flourish (Drucker, 2013). The society produces capital resources to the production enterprise so that business can offer its products to its customers. Strategic leaders of the business emphasize in exploration of i nnovation and improved methods to address target goals, customer requirements and expectations. Strategic leaders focus on new opportunities and chances to draw investors. The objectives primarily centre to the ways in which strategic leaders can improve the association of customers and stakeholders and further improve customer satisfaction and desires (Clarke, 2013). Customer satisfaction has a critical role to play in recent times; it is generally considered as temporary. The desires and expectations of customers tend to evolve very often which sometimes causes risks to businesses. Thus, strategic leaders must plan and implement strategies in order to produce the most effective outcomes of the business. Customer satisfaction and experience is regarded as provisions to the achievements of the business. Customer satisfaction and pleasure is considered to be significant to a business as it offers a structure to the entrepreneurs to evaluate and enhance their business performance. In an economical and competitive market domain, businesses struggle to gather customer satisfaction, which is regarded as a key factor to distinguish the performances amongst competitors. Accenture reportedly identified that product price is not the primary cause for customer churn (Cameron, 2013). The cause behind customer agitation predominantly lied on the poor and reduced consumer service on the whole. Customer contentment can further be executed to condense customer churn. With the measurement and evaluating consumer satisfaction, a business enterprise can introduce unique approaches and strategies to enhance the quality of customer facilities. Consumer satisfaction has a vital role to play in the amount of revenue the company generates for its production. The key to effective business production lies in understanding the significance of consumer lifetime value (CLV). If a business improves the CLV, the business owner increases its profit generation (Wolfe, 2011). The key role of a senior leader of an organization is to interact and create visualization and further provide assistance to strategic planning. Leaders who have effectively implemented strategic plans by connecting teams of all levels have led to a productive business outcome. Fundamental responsibilities of strategic leaders or senior management team are to evaluate and challenge the strategic direction and other vital components of the plan. One of the common methods of internally analyzing and further reconsider the current position of the organization and future outcomes by implementing SWOT analysis (Crane et al., 2014).This analysis engages in identifying strengths and potentialities as well as fundamental capabilit ies in commodities, resources as well as customers. However few critics have argued that a fundamental factor of a business is its workforce rather than its customers. The satisfaction of customers is immensely dependable on the employees of the company. The aspect which makes a business distinguishable from its competitors is the performance of the workforce. This has led companies to spend millions on the recruitment, management as well as administrative expenses of the employees. It is believed that a business can only gather customers and further gain their satisfaction is through the contentment level of the workforce of the business (Pantouvakis Bouranta, 2013). Thus, employee satisfaction plays a more crucial role than customer gratification. In order to leverage the employee value, strategic leaders must initiate strategies such as rewards and recognition to acknowledge the employees and further enhance company morale, productivity and thus generate profits. Thus, from the above discussion it can be concluded that though critics have claimed workforce as a valuable asset of their business, the primary purpose and intention of any business depends on retaining customers, enhance their level of satisfaction through excellent products and further earn revenues. References Cameron, K. (2013).Practicing positive leadership: Tools and techniques that create extraordinary results. Berrett-Koehler Publishers. Clarke, H. C. L. (2013). Deciding How to Decide.Harvard Business Review, Cambridge. Crane, A., Palazzo, G., Spence, L. J., Matten, D. (2014). Contesting the value of creating shared value.California management review,56(2), 130-153. Drucker, P. (2013).People and performance. Routledge. Pantouvakis, A., Bouranta, N. (2013). The interrelationship between service features, job satisfaction and customer satisfaction: Evidence from the transport sector.The TQM Journal,25(2), 186-201. Wolfe, N. (2011).The Living Organization: Transforming Business to Create Extraordinary Results. Encounter. Quantum Leaders Publishing.