Balancing Team, Investor, and Customer Expectations with Scale

  • 9th Mar'21
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Balancing Team, Investor, and Customer Expectations 

Balance in every domain of life is an essential component – in business too. Unless companies can balance customer expectations and business desires, they would end up either dissatisfy their customers or effecting losses to themselves. With the strength to make or break now shifted to customers, it has to serve essential that companies provide an outstanding level of customer service. Great service enhance customer experiences, which in turn translates to loyalty, bigger spending, repeat business, and brand advocacy from the customers. 

 

Balance Business Needs VS. Customer Needs

Everyone in the company should be accountable for retaining the balance between customer expectations and business wants. It is in everyone’s reasonable interest that the company’s customers stay happy leading to the success of the company- without customers, there would be no company and no jobs. Hence, management resources, putting in an excellent effort, and doing whatever it takes to keep customers pleased while meeting, the business requirement should be part of the key accomplishment indicators for each person in the organization, irrespective of level or job position. Each person must have balanced accountability toward balancing customer expectations and business desires such that core processes improve, inefficiency reduces, costs are lowered and there is an overall increase in customer satisfaction.

Therefore, it is the onus of every company to formulate strategies and plans to assure that they are continuing consistent in balancing customer expectations and business wants, guaranteeing that everyone wins and achieves.

 Customer Expectations and Business Needs

Read the below article to know more about it:

Balancing Customer Expectations and Business Needs

Unless companies can balance customer expectations and business needs, they would end up either displeasing their customers or causing losses to themselves. To know more, read here:

Striking a Balance 

Digital transformation is changing the way we do business. To know how to strike a balance between customer, employee and management experience, click here;

Balance The Need Of Customer And Organization

Some companies are immature in their approach to customer relationship management. To know how to balance between the needs of the organisation and the needs of the customer, read here:

 

Business Needs VS. Customer Needs

 

Balancing The Needs Of Internal And External Stakeholders

It is well known that sufficiently managing the input of your stakeholders is significant to the achievement of any project. To get all stakeholders on the same page, management wants to identify who the stakeholders are and which key issues are their drivers. At the same time, management needs to keep in sense the fact that long-term profitability is important to the survival and achievement of the company.

Read the below article to know more about it:

Tips For Balancing The Needs Of Investors

Balancing the needs of both investor and customer may seem contradictory. To know 3 Tips for balancing, click here:

Tips for Investing in Stocks

Buying stocks isn't hard. What's challenging is choosing companies that consistently beat the stock market. To know 5 essential tips for Investing in Stocks, read here:

Balance and Resolve Competing Stakeholder Requirements

To know how to Balance and Resolve competing stakeholder requirements, read the article:

 

We at OpenGrowth, are constantly looking for startup trends in the market. If you wish to know more about the startup ideas, let us know in the comment section. 

 

Contributor: Beauty Kumari 

An eloquent individual loves to express a myriad of topics through her words. She is ready to take any professional challenge head-on and give her best to any project entrusted to her. She wants to adversely impact her writing and build a career out of her passion. 

 

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Neda Ali (Editor), OpenGrowth Content Team

The Editorial Team at OpenGrowth is working to provide you with the perfect place to know everything about startups. Feel free to connect to us.


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