5. Service Strategy and Competitiveness
5.1. Introduction
A firm survives and prospers if it can create value for its stakeholders on a continual basis. A firm’s stakeholders include customers, employees, shareholders, suppliers, and community at large. A firm that provides value equally well as its rivals, or better than its rivals, will be a competitive firm. Why is creating value so important? A customer who believes that he has received good, or better yet, exceptional service will be a satisfied customer. A satisfied customer will be a loyal customer, and a loyal customer means repeat business for the firm in the months and years to come. A satisfied customer also helps recruit new customers for the firm. Satisfied customers are more likely ...
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