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Loyalty Business Model
The loyalty business model is a business model used in strategic management in which company resources are employed so as to increase the loyalty of customers and other stakeholders in the expectation that corporate objectives will be met or surpassed. A typical example of this type of model is: quality of product or service leads to customer satisfaction, which leads to customer loyalty, which leads to profitability. The service quality model A model by Kaj Storbacka, Tore Strandvik, and Christian Grönroos (1994), the service quality model, is more detailed than the basic loyalty business model but arrives at the same conclusion. In it, customer satisfaction is first based on a recent experience of the product or service. This assessment depends on prior expectations of overall quality compared to the actual performance received. If the recent experience exceeds prior expectations, customer satisfaction is likely to be high. Customer satisfaction can also be high even with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
The Office
''The Office'' is a mockumentary sitcom created by Ricky Gervais and Stephen Merchant, first made in the United Kingdom, then Germany, and subsequently the United States. It has since been remade in ten other countries. The original series of '' The Office'' also starred Gervais as the boss and main character of the show. The two seasons were broadcast on BBC Two in 2001 and 2002, totalling 12 episodes, with two special episodes in 2003, and an extra short spectacular ten years later. A German version titled '' Stromberg'' ran for 46 episodes over five seasons, starting in 2004, and the follow-up film ''Stromberg - Der Film'' was released in German cinemas in 2014. The longest-running version of the series, the US adaptation, ran for nine seasons on the NBC Television Network from 2005 to 2013 for a total of 201 episodes. The total overall viewership is in the hundreds of millions worldwide. According to Nielsen Ratings as of April 2019, the US version of ''The Office'' was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
Word Of Mouth
Word of mouth, or ''viva voce'', is the passing of information from person to person using oral communication, which could be as simple as telling someone the time of day. Storytelling is a common form of word-of-mouth communication where one person tells others a story about a real event or something made up. Oral tradition is cultural material and traditions transmitted by word of mouth through successive generations. Storytelling and oral tradition are forms of word of mouth that play important roles in folklore and mythology. Another example of oral communication is oral history—the recording, preservation and interpretation of historical information, based on the personal experiences and opinions of the speaker. Oral history preservation is the field that deals with the care and upkeep of oral history materials collected by word of mouth, whatever format they may be in. Storytelling Storytelling often involves improvisation or embellishment. Stories or narratives have bee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
Habit
A habit (or wont as a humorous and formal term) is a routine of behavior that is repeated regularly and tends to occur subconsciously.Definition of ''Habituation'' ''Merriam Webster Dictionary''. Retrieved on August 29, 2008 The '''' (1903) defined a "habit, from the standpoint of , sa more or less fixed way of thinking, willing, or feeling acquired through previous repetition of a mental [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
Affective
Affect, in psychology, refers to the underlying experience of feeling, emotion or mood. History The modern conception of affect developed in the 19th century with Wilhelm Wundt. The word comes from the German ''Gefühl'', meaning "feeling." A number of experiments have been conducted in the study of social and psychological affective preferences (i.e., what people like or dislike). Specific research has been done on preferences, attitudes, impression formation, and decision-making. This research contrasts findings with recognition memory (old-new judgments), allowing researchers to demonstrate reliable distinctions between the two. Affect-based judgments and cognitive processes have been examined with noted differences indicated, and some argue affect and cognition are under the control of separate and partially independent systems that can influence each other in a variety of ways ( Zajonc, 1980). Both affect and cognition may constitute independent sources of effects wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
Brand Loyalty
In marketing, brand loyalty describes a consumer's positive feelings towards a brand, and their dedication to purchasing the brand's products and/or services repeatedly, regardless of deficiencies, a competitor's actions, or changes in the environment. It can also be demonstrated with other behaviors such as positive word-of-mouth advocacy. Corporate brand loyalty is where an individual buys products from the same manufacturer repeatedly and without wavering, rather than from other suppliers. Loyalty implies dedication and should not be confused with habit with its less-than-emotional engagement and commitment. Businesses whose financial and ethical values (for example, ESG responsibilities) rest in large part on their brand loyalty are said to use the loyalty business model. Marketing Brand loyalty, in marketing, consists of a consumer's commitment to repurchase or continue to use the brand. Consumers can demonstrate brand loyalty by repeatedly buying a product, service ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
Employee Development
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, disability insurance. Employment is typically governed by employment laws, organisation or legal contracts. Employees and employers An employee contributes labour and expertise to an end ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
Customer Loyalty
The loyalty business model is a business model used in strategic management in which company resources are employed so as to increase the loyalty of customers and other stakeholders in the expectation that corporate objectives will be met or surpassed. A typical example of this type of model is: quality of product or service leads to customer satisfaction, which leads to customer loyalty, which leads to profitability. The service quality model A model by Kaj Storbacka, Tore Strandvik, and Christian Grönroos (1994), the service quality model, is more detailed than the basic loyalty business model but arrives at the same conclusion. In it, customer satisfaction is first based on a recent experience of the product or service. This assessment depends on prior expectations of overall quality compared to the actual performance received. If the recent experience exceeds prior expectations, customer satisfaction is likely to be high. Customer satisfaction can also be high even wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
Employee Competence
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, disability insurance. Employment is typically governed by employment laws, organisation or legal contracts. Employees and employers An employee contributes labour and expertise to an ende ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
Employee Satisfaction
Job satisfaction, employee satisfaction or work satisfaction is a measure of workers' contentedness with their job, whether they like the job or individual aspects or facets of jobs, such as nature of work or supervision. Job satisfaction can be measured in cognitive (evaluative), affective (or emotional), and behavioral components.Hulin, C. L., & Judge, T. A. (2003). Job attitUdes. In W. C. Borman, D. R. ligen, & R. J. Klimoski (Eds.), Handbook of psychology: Industrial and organizational psychology (pp. 255-276). Hoboken, NJ: Wiley. Researchers have also noted that job satisfaction measures vary in the extent to which they measure feelings about the job (affective job satisfaction). or cognitions about the job (cognitive job satisfaction). One of the most widely used definitions in organizational research is that of Edwin A. Locke (1976), who defines job satisfaction as "a pleasurable or positive emotional state resulting from the appraisal of one's job or job experiences" (p.& ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
Corporate Culture
Historically there have been differences among investigators regarding the definition of organizational culture. Edgar Schein, a leading researcher in this field, defined "organizational culture" as comprising a number of features, including a shared "pattern of basic assumptions" which group members have acquired over time as they learn to successfully cope with internal and external organizationally relevant problems. Elliott Jaques first introduced the concept of culture in the organizational context in his 1951 book ''The Changing Culture of a Factory''. The book was a published report of "a case study of developments in the social life of one industrial community between April, 1948 and November 1950". The "case" involved a publicly-held British company engaged principally in the manufacture, sale, and servicing of metal bearings. The study concerned itself with the description, analysis, and development of corporate group behaviours. Ravasi and Schultz (2006) characterise ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
Virtuous Circle
A vicious circle (or cycle) is a complex chain of events that reinforces itself through a feedback loop, with detrimental results. It is a system with no tendency toward equilibrium ( social, economic, ecological, etc.), at least in the short run. Each iteration of the cycle reinforces the previous one, in an example of positive feedback. A vicious circle will continue in the direction of its momentum until an external factor intervenes to break the cycle. A well-known example of a vicious circle in economics is hyperinflation. A virtuous circle is an equivalent system with a favorable outcome. Examples Vicious circles in the subprime mortgage crisis The contemporary subprime mortgage crisis is a complex group of vicious circles, both in its genesis and in its manifold outcomes, most notably the late 2000s recession. A specific example is the circle related to housing. As housing prices decline, more homeowners go " underwater", when the market value of a home drops ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
Virtuous Circle In Management
Virtue ( la, virtus) is morality, moral excellence. A virtue is a trait or quality that is deemed to be morally good and thus is Value (ethics), valued as a foundation of principle and good moral being. In other words, it is a behavior that shows high moral standards: doing what is right and avoiding what is wrong. The opposite of virtue is vice. Other examples of this notion include the concept of Merit (Buddhism), merit in Asian traditions as well as ''De (Chinese), De'' (Chinese language, Chinese 德). Buddhism's four brahmavihara ("Divine States") can be regarded as virtues in the European sense. Etymology The ancient Romans used the Latin word ''virtus'' (derived from ''vir'', their word for ''man'') to refer to all of the "excellent qualities of men, including physical strength, valorous conduct, and moral rectitude." The French words ''vertu'' and ''virtu'' came from this Latin root. In the 13th century, the word ''virtue'' was "borrowed into English". Ancient Egypt Ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Bing] [Yahoo] [DuckDuckGo] [Baidu] |
