Wal-Mart’s Customer Service Perspective Flashcard
Wal-Mart’s Customer Service Perspective Karen E. Wilkerson TUI BSBA Integrative Project BUS 499 Module 2 SLP Dr. Thurgood February 17, 2012 Wal-Mart’s Customer Service Perspective Customer service is interaction with your company’s clients. Ultimately, businesses are in business to make money; profitability cannot be achieved without customers. Customer service representatives provide much of this direct interaction, although almost anyone, from any position in an organization, may be called upon to provide customer service.
In the most general sense, customer service entail answering customer’s questions and arranging for delivery of products and services. Although customer service is often associated with for-profit businesses, many different types of organizations provide customer service. It has been proved that Balanced Scorecard works at best when measures in the all 4 perspectives are correctly set: financial, customer, internal processes, learning and growth. Each of the perspectives covers certain aspects of business functioning, both in the internal and external environment.
According to own strategic goals, companies tends to make emphasis on certain perspectives, giving them different weights. It is very difficult to systematize these ties, since much depends on company organization structure, position in the market, and strategic vision. In the BSC customer perspective a company selects market and customer segments where it will compete. Sure, the goals remain the same – implementation of financial objective. In simple words, this is making more money (maximizing profits). The financial perspective identifies key customer measures: loyalty, retention, acquisition and profitability.
These measures are aligned to target markets and customer groups.
OBJECTIVE| MEASURE| TARGET| ACTION|
Create a laid-back environment which lets customers that this is a “One stop shopping”. This meets the company’s objectives as it contributes to the company’s goal to provide customers with a convenience. | To determine whether the objective has been met, measurements will be made via customer satisfaction surveys. | The target will be to create such an environment that will keep the customer coming back for all their needs. By keeping everyday low prices. | Decrease time it takes to check out customers. This meets the company’s objectives as they seek to create a better overall customer satisfaction. |
Promote more self- checkouts. | The target is to create decreased customer waiting time. | The company will research various ways to speed operations speed. A happy medium must be met to both ensure that the customers have a positive experience, but also to ensure that their wait time is minimal. | | | | | Create better technology for inventory. Improve the inventory rate for what customers want to buy. | To ensure that items are in stock to cover the demand for them and keep the customer happy. | Increase by 85%| | | | | References: Niven, P. (N. D. ) Customer perspective. EPM Review. Retrieved May 17, 2010, from http://www. epmreview. com/Resources/Articles/Customer-Perspective. html Kaplan, RS (2005) A Balanced Scorecard Approach To Measure Customer Profitability. Working Knowledge. Harvard Business School. Retrieved May 17, 2010, from http://hbswk. hbs. edu/item/4938. html