The company knows the demands of the customers and they are well orientated in the service and the knowledge of the products and this is the element that makes them prosperous. Jean’s Rare Find Books belief in customer service and satisfaction enables a comfortable and peaceful atmosphere and in return produces a strong customer loyalty for the company. Customer satisfaction and customer retention externally and internally is measured by the perspective of the customers and thus implements the reason for the company’s prosperity. Customer perspective is a key factor on how the customer views the company.
Today’s world competition is very strong in every kind of businesses. Every organisations must provide high quality products or services in order to survive, however their competitors also providing the same or comparable products or services. An important way to an organisation to get an edge over its competitors is to provide extra service to satisfy and delight their customers, which can retain them and also gain new customers. Therefore the achievement of customer satisfaction must be a major objective in all organisations.
Strategic Management is the theory and practice of making decisions that shape the future of the firm. This course looks at the content and process of strategic decision making from the perspective of managers who are responsible for an entire business unit. These may be individuals who are acting in the capacity of a Chief Executive of a company, divisional General Managers, or departmental heads. It is also the perspective most
In the competitive market where corporations vie for customers, customer satisfaction is an integral element of the organizational business strategy. Wal-Mart customers’ satisfaction ratings have powerful effects on the organization’s bottom line. If Wal-Mart’s customer satisfaction rate drops, this tells the organization that there are problems in areas of the organization that affects the customer satisfaction rating. Wal-Mart will have to correct these problems to ensure the organization customer satisfaction rate improves. A drop in satisfaction ratings for the organization affects sales and profit. Wal-Mart always ensures that their customer satisfaction rating is high enough to keep current customers and to attract new customers. Customer satisfaction is the key element of Wal-Mart to exist in this modern day world of business with such a diverse society.
Products in high end and performance market segment will have a positive influence in the future competition with its high growth rate. In addition, it will bring benefits in the long term due to its higher customers’ demand
Study indicates that satisfaction basically consists of cognitive and affective variables. Cognitive measures include disconfirmation and expectations (Oliver,1980), also perceived performance (Tse and Wilton, 1998). Other measures include equity and performance (Oliver and DeSarbo,1988), “fairness” (Oliver and Swan,1989), expectancy disconfirmation (Oliver and Burke, 1999), need fulfilment (Oliver, 1995), and price acceptance or desire to pay (Huber et al., 2000). This measurement can lead to the discovery of affective variables by trying to improve satisfaction. There are two affective variables that Westbrook (1987) found. One is positive affect the other is negative affect. He stated that both positive and negative affect are linked to post-purchased word of mouth. Thus, this makes that there’s a relationship between quality and customer
Sales take place on facts more readily than on assumptions. Customer satisfaction is also a result of actually delivering value to the customer which he measures by factors like price, delivery and quality. Service is an important feature in any customer relationship and this too is dependant on these reasons that convey a perception of reliability.
In every day to day operations decision need to be made in most of different types of business. In the process of the decision making the person in concern must be financially orientated; decisions should be based on the effectiveness of its cost and if it meet the organization needs and if it would have any kind of positive or negative impact on the organization profitability.
To improve cost management and profit, and to do loss analysis of efficiency. The product, inventory, and purchasing, administrative costs of the four processes of full control to ensure that the Group maximizes the benefits.
Purpose – The purpose of this paper is to provide a review of the origins of strategic management accounting and to assess the extent of adoption and “success” of strategic management accounting (SMA). Design/methodology/approach – Empirical papers which have directly researched SMA and prior review papers of the adoption and implementation of SMA or SMA techniques are reviewed. As well as assessing the extent of adoption of SMA and the reasons underlying an apparent low adoption
Strategic management accounting (SMA) is considered as potential area of development for many years which would enhance the future of management account’s contribution in competitive success of business. SMA is first coined by Symonds in1981
Strategic management accounting revolves around the higher vision and mission of the company. It provides help to higher management to make decision regarding planning and controlling of different elements and segments of business.