Question

In: Economics

1. Why do you care about the reasons for a customer’s discontinuing business with your company?...

1. Why do you care about the reasons for a customer’s discontinuing business with your company?

2. Why do you care about the reasons an employee leaves your company?

3. As a customer, do you believe that you are always right and that companies should cater to what you want to have?

4. As the management of a business, what can you do to empower your employees to help customers, but prevent them from “giving away the farm?”

5. How is being critical of others or superior about yourself different from having respect for yourself and your abilities?

6. How is looking for a win-win situation different from manipulating people into doing something you want them to do? Site some examples from your experience.

7. What is the most expensive item you have ever purchased? To what extent did you feel that the product was worth the price you paid?

8. Describe a situation when you bought something that was not worth the price?

9. Have you ever bought anything that cost little, but surprised you with quality? If so, describe this.

Solutions

Expert Solution

Ans 1) we care about reasons for customer discontinuing business with us. Reasons matters a lot as knowing the right reason for customer dissatisfaction can help us to improve ourself and change ourself according to the customers need and want so that we do not loose our customer . Customer is very important for every business and a firm can bear to loose it's customers without knowing the reason and thinking about it .

Ans 2) we do care about reasons of employees leaving our company because employees are resources to business without them business cannot be run . Employees are path to business .knowing their reasons will help us to satisfy them with required changes . Hardworking employees are precious to every company and no company wants it employees to leave .

Ans 3) yes , as I customer I believe I am always right and company should manufacture goods according to my needs and satisfaction.company should take care of my wants and should provide best quality of products according to my needs .

Ans 4) As the management of business , I would empower my employees by providing proper training and education on how to deal with customers and satisfy their needs and also teaching them to take care of companies rules and profit as well.. I would suggest each emplouee to make a direct contact with their customers and cater their needs and removing difficulties faced by customers .

Ans 6) win win situation refers to when less time is involved and decision made is good for everyone involved in it. Manupilation of decision is time consuming step and may not lead to win win situation .

For eg : I'm working in a car manufacturing company . I new design of car is proposed and is liked by everyone and is taken for manufacturing , this lead to huge success and is a win win situation , but if I don't like the design I may make changes and suggest other things which lead to delay in decision and it's not sure that it may lead to win win or not.

Ans 7) The most expensive item I purchased was LCD TV . Yes I was worth paying for it as I watched matches and movies on it. But after upcoming new design of LED in today's era my satisfaction started decreasing . For me it's not worth it as new n latest design came in the market and my preference changed .

Ans 8) I bought a small cooler for my room as my AC was not that efficient to keep my room cool. But the cooler was not worth it the price as I was not satisfied with it. The level of satisfaction with comparison of money I spend was very less . It was not worth it .

Ans 9 ) yes last year I bought a shirt for just 100 bucks on special discount . Yes its cost was little but I was truely satisfied with it. It's already one year and it's working excellent without any colour change or damage . I was surprised of it's quality as I had bought shirts for 500 bucks and they didn't last long .


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