How should a for-profit corporation balance its business needs
Balance in the side of life is an essential component, especially in business. Companies are supposed to balance the expectations of the customers and the needs of the business so that they can refrain from displeasing the customers and causing losses to themselves. This paper will be focused on how a for-profit organization will balance the profits of its business and the needs of the customers, the responsibility of the company towards benefiting the customer and its application on the biblical world view.
Balancing the Business and the Needs of the Consumer.
As the rate of competition goes high, companies may need to take extra measures to boost the level of services to raise the levels of satisfaction in the aim of gaining the loyalty of the customers. With limited resources and profits not good enough to match the expenses, most of the companies find balancing the expectations of the customer and the needs of the business impossible.
Townsend (2016), asserts that segmentation of customers and the levels of service is a great way through which the business can keep watch of the costs of the services, and ensuring that customers are satisfied. Rather than the company recruiting more staff, a company would be able to increase the balance between the expectations of the customers and the needs of the business by raising the number of the staff during the peak work hours and the call times. During lean periods, the staff can be given the opportunity to go for training and professional development programmes, to make sure that they increase their efficiency and increase their work output and the quality of delivery. As a result, they would be able to offer services to high-end customers with great attention thus gaining favor and loyalty.
Company Responsibility to Consumer
Abbott et al., (2019), says that the act of balancing these business initiatives about the customer service should be consistent and in a process. Ensuring a stable supply of good and services is essential to the customer. This will not only produce the value for customers but also benefit the company too. The company has the role of putting the needs of the customers at the forefront since their demands change continually and the company needs to comply to this to retain the customers although it may not be the best thing from the business perspective. However, every company should have strategies and plans that ensure that they consistently balance the expectations of the customer and the needs of the business, which at the end will see a win-win situation for everyone.
From the biblical point of view, it is crucial to build the best product, make sure that there no unnecessary harm, and then use that business to inspire and give solutions to the environmental crisis. Companies should promote social welfare as much as possible while gaining a good range of profit to show selflessness as the scripture says. Companies should also use their profits in contributing to social welfare through their profits to improve the lives around them.
The company is supposed to understand what the customers need and should try to match to those expectations according to capabilities of the companies and strive to reduce the limitations; this would promote the expectations of the customers and cater for the needs of the business. The company should also monitor the level of their service delivery because too low would lead to customer ire and over-delivery of the services can lead to getting the customers habituated to it, and even a slight drop in the level of delivery would be noticed (Martello et al., 2016).