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4349 The World without Bankruptcy Laws

Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]

4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]

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Let us go through some social responsibilities of an organization towards its customers.

Treat your customers as kings and do not think of them only when you have a pressure to meet your targets within the stipulated time frame.

There are organizations that do not bother to touch base with their customers the whole month but are active only when they fall short of their targets and they have an appraisal in the coming month.

Understand that a customer buys your products or services only when he/she trusts your brand and most importantly believes in you. Understand the needs and requirements of your clients. Find out as to why they need a particular product and how your product would benefit them.

You need to build a strong relationship with your customers for them not only to remain your loyal clients but also bring more people along with them. It is the responsibility of the organization to give correct suggestions and feedbacks to customers.

Avoid making fake promises and commitments which you yourself know are difficult to fulfil. What is the need of selling a mobile phone with just one day battery backup when the customer has specifically asked you for a handset with at least 3 days backup?

Never lie to your customers. It is foolish to cook false stories. Trust me, you will be caught. In today’s world, where information is just a click away, everyone does his/her thorough research before purchasing something. Unnecessarily you will lose your respect in front of them.

If you can’t deliver something, please mention it clearly. They might not invest in that particular product but believe me, would definitely come back to you in near future just because you were honest and guided them correctly. It is pointless to badmouth your competitors.

Businesses dealing with customer’s money need to be extra careful with clients. Make sure their money is invested in a right way and also multiples at a rate promised to them. Do not run away with their money. It is one of the worst things you can do to your customers. It is your responsibility to take care of their hard earned money. Suggest them the right schemes and right plans as per their need.

Do not just think of your own selfish targets and incentives. This way, you will definitely meet your targets once or twice but trust me not for a very long time. The moment, the customer knows that you have cheated on him/her; your game is over. He would neither come to you again nor recommend your brand to his friends or acquaintances.

Respect your customer’s time. Do not decide the time and venue as per your availability and comfort. If the customer wants to meet you at 5 in the evening, make sure you are there on time. Neither reach too early nor too late. Do not keep your customers waiting. Do not forget that there are several options available in the market. Your loss is someone else’s gain.

Organizations tend to forget their customers once the deal is done. After sales service is essential and ensures long term growth and profits for the organization. Make sure you are in touch with your customers after the deal as well if you wish to survive the cut throat competition. Do not ignore their calls once you have sold your product. If the customer is not satisfied with your product, it is your responsibility to replace it or provide a solution.

Customer feedbacks are important and help you understand the satisfaction level of your esteemed customers and how you can make your product better in due course of time.

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