Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 100-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions:
What did you learn from your classmate’s posting?
What additional questions do you have after reading the posting?
What clarification do you need regarding the posting?
What differences or similarities do you see between your posting and other classmates’ postings?
What impact could a poor quality product have on a company?
The first impact would be customers becoming dissatisfied with the product, the company, or both. This would result in a loss of sales for the company along with lost customer loyalty. If the poor quality continued the most likely second impact would end up becoming customers purchasing goods from a competitor. Eventually, the loss of sales would become too great causing the company to have to lay off employees. In more extreme cases the company would close and/or file for bankruptcy.
How does reputation help a company to be more competitive?
The better a company’s reputation, the more likely it is to bring in more customers and drive up sales. The increase in sales will help drive revenue up which will allow the company to give out raises, bonuses, and competitive benefits for current employees while also attracting highly qualified candidates.
How do you think a company can improve its vendor and customer relations?
Effective communication is the first step in building a relationship with vendors and customers. The second step is to develop KPIs (key performance indicators) to be able to track quantifiable data to ensure that business relationships are being met. It is also important to update KPIs as necessary to make sure that the data is relevant and timely.
Summarize 3 examples of what goes into the reputation of a company.
In the era of social media, the first example of what goes into the reputation of a company is corporate social responsibility. Are the products and the way the products are manufactured eco-friendly? How does the company engage and give back to the communities it conducts business in? How does the company use social media to engage with its customers? If a customer has a poor experience with a product or delivery, how does the company use customer service to resolve the issue in a timely manner?
The second example of what goes into the reputation of a company is diversity and inclusion. Who sits on the board of the company? Does the board reflect and represent the diversity of the customer base? Diversity helps to promote innovation and creativity which leads to a greater understanding of customers’ values and ideas.
In conclusion, the third example of what goes into the reputation of a company is the corporate culture for employees. Having open and effective communication with employees allows a company to adapt to changes faster and with more resiliency.
When it comes to the reputation of a corporation, it is vital that they maintain and be consistent with their mission statement, and branding. It is important for industries to uphold ethics and value, and in these current times, be environmentally conscious.
The impact a poor quality of product can have on a corporation is tremendous. After all, in this capitalistic system of supply and demand, the customer is truly who determines the life and longevity of a product. The customer decides what’s trending, what is needed, when and how much; all by simply doing what customers do best…CONSUME! When a customer is dissatisfied, this can lead to overall disappointment bad reviews and ultimately loss of revenue!
Having quality products can also help a corporation perpetuate cash flow and preserve an outstanding reputation in the industry. One thing that major corporations know is if you provide a better product than the competition, you provide value. Value creates loyalty and privilege, and when privilege is monetized, you can inflate your prices, resulting in higher revenue and placement over the competition. Exclusivity has always been a great way of creating this illusion of quality, which is another way corporation sort of create reputation as well.
Three things that reference the quintessence of a polished reputation when it comes consumers.
*The quality of the product is number one. The value that a customer sees in the investment of their hard-earned money is what wins the people over. “Getting your monies worth” as so the saying goes.
*Manufacturing! Believe it or not we live in an age of health driven, conscious thinking, environmentalist who appreciate a company having ethics and fundamentals that guide their business. “Going Green”.
*Distribution. This one is a little more difficult to achieve complete satisfaction from customers. Amazon with two-day shipping has oversaturated the market and shifted the belief in the capabilities of logistics all together. We are in a time of instant gratification and supply ON- DEMAND! Getting the quality product to the customer in a timely and convenient fashion is the name of the game, all while maintaining product integrity through the shipping and handling process.
Overall improvement of vendor customer relations, I feel, does not need to be improved. We live in a high-tech self-service society. You can work remotely, order groceries, pay bills and get anything you need delivered to your home, including a brand-new car. Virtually making it possible for people to never have to leave their home and go outside ever again. So one thing I believe could improve relations would be making some services a little more personal and bring the humanness back to the process.
CTU Unit 2 Intellipath
Mostly common knowledge filled with some of my opinionated perspective being a consumer myself.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more