The natural concept of chains is that they are as strong as their links. Hence to make a chain strong, the links must be made strong. The service-profit chain is based on this concept. A theory evolved by a group of researchers from Harvard University in the nineties, it dissects the levers that translate good service into profitability. These levers are represented by links in an eight-link chain as depicted below. The service Profit Chain The service-profit chain works this […]
Category Archives: Work culture
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Service as competitive advantage
Increasing competition, declining sales and more service-aware customers are putting pressure on organizations to rethink and improve the levels of service that they offer. Hence, many organizations are recognizing that by improving the service provided, they can make significant and sustainable gains in the marketplace. Service and service delivery can be, and increasingly are, a competitive weapon. As highlighted in our previous write-up, “Understanding the service concept”, the effect of good service on creating valuable customers, increasing customer retention and […]
