Written on
July 2nd, 2010
Services companies struggling to close the gap between their customers’ expectations and perceived experiences need to look at four areas where blunders occur, Thunderbird Professor Sundaresan Ram, Ph.D., said June 30. “If perceptions exactly match expectations, then the gap is zero, and you have an ideal service,” Ram said. “The problem is, expectations can be a moving target.” Ram said the Services Gap Model points to four crucial points in the process where companies can gain or lose ground. The first is the expectations gap, which occurs when customers arrive with unrealistic expectations. The second is the knowledge gap, which occurs when people designing the service do not know what their customers want. The third is the design gap, which occurs when a services company designs the wrong thing. The fourth is the delivery gap, which occurs when a services provider fails to deliver a service as promised. “I do not know any services organization where the gap is zero,” Ram said. “But if we can get it as close to zero as possible, then we have done a good job.” His comments came during a Thunderbird staff meeting, where Ram presented research on ways to improve customer service perceptions among students and other stakeholders at Thunderbird. | Podcast: Services Gap Model (30:24)
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Written on
July 2nd, 2010
Any customer service organization is only as good as its weakest employee, Thunderbird Professor Sundaresan Ram, Ph.D., said June 30 at Thunderbird School of Global Management in Glendale, Arizona. “People who deal with others one-one-one create your brand,” said Ram, an associate professor of global marketing. “If the person does not belong in the front line dealing with customers, move him to the back office.” Ram said effective service delivery hinges on four components: 1. Hiring the right people, 2. Motivating them (through competitive pay and other perks, such as flexible hours.), 3. Training them, and 4. Consulting them. “Service delivery is always done in real time, in the face of the customer,” Ram said. “There is no room for error.” The comments came during a Thunderbird staff meeting, where Ram presented research on ways to improve customer service perceptions among students and other stakeholders at Thunderbird. | Podcast: Four Keys to Effective Customer Service Delivery (4:30)
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Written on
July 2nd, 2010
The fastest way for any customer service organization to build its brand is to admit a problem and then fix it, Thunderbird Professor Sundaresan Ram, Ph.D., said June 30 at Thunderbird School of Global Management in Glendale, Arizona. “We should not be afraid to say we are having problems,” said Ram, an associate professor of global marketing. “There is no service business without a problem.” He said businesses that disappoint their customers and then recover actually create stronger brand loyalty than businesses that keep their customers happy from the beginning. “The customer sees that you really care,” Ram said. “Service recovery is the fastest way to build your brand.” However, companies should not get into the habit of messing up. “Even the most disloyal customer will forgive you once,” Ram said. “The second time it happens, you have problems.” The comments came during a Thunderbird staff meeting, where Ram presented research on ways to improve customer service perceptions among students and Thunderbird Corporate Learning clients. | Podcast: Turning Your Weaknesses into Strengths (1:19)
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Written on
July 1st, 2010
Leaders with big ideas to change the world face a tough choice early in their careers. Or at least they think they do. If they want to make money and help themselves, they must choose the business sector. If they want to improve the planet and help others, they must choose the social sector. Historically, the paths do not cross. But lately the line between for-profit and not-for-profit has blurred. New cooperation and competition at the interface between the sectors has led to fascinating solutions to complex global problems at the base of the pyramid. Thunderbird President Ángel Cabrera, Ph.D., discusses the trend April 29, 2010, during the second annual American Express Emerging Social Sector Leadership Program developed at Thunderbird. Audio: Innovation at the Interface (20:20)
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Written on
May 26th, 2010
One Thunderbird professor makes the case for doing business in India, while a colleague does his best to prove the rosy projections wrong during a Thunderbird Executive MBA forum May 20 in Glendale, Arizona. The two Ph.D. professors, Kishore Dash and Sundaresan Ram, assumed the roles of optimist and pessimist during the first installment of a four-part BRIC series organized by Thunderbird Executive MBA faculty and staff. Audio: India’s Promise and Pitfalls (37:54)
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Written on
May 19th, 2010
The world is in the midst of a massive economic shift led by China, India and other emerging economies, Thunderbird President Ángel Cabrera, Ph.D., said May 19, 2010, at Business Beyond Our Borders, a forum presented by the Greater Phoenix Chamber of Commerce. Cabrera said entrepreneurs with a global mindset will seize opportunities as they adapt to the new landscape, while others who cling to old business models will be left behind. Audio: New frontiers in emerging markets (24:06)
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Written on
May 19th, 2010
Canadian entrepreneur Ken Valvur never tasted sushi until he arrived at Thunderbird in 1987 and decided to learn Japanese to boost his international career. “On pure commercial grounds, I picked Japanese,” says the Thunderbird graduate. The decision has paid off for Valvur, who eventually returned from an expatriate assignment in Tokyo with the inspiration for Bento Nouveau. The company, which Valvur founded in 1996, sells more than 10 million servings of sushi per year in Canada and parts of New York. Valvur sold control of the enterprise to a private equity group in 2007 and is now exploring other ventures, including a possible saké brewery in Ontario. Audio: Betting on sushi (12:16)
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Written on
May 5th, 2010
Rather than destroy Goldman Sachs, over-regulate them or view them as the source of the global financial meltdown, the more rational approach would be to create an environment in the United States that rewards financial services innovation and develops more companies like Goldman Sachs. Thunderbird Professor F. John Mathis, Ph.D., says U.S.-based competition at the top of the investment banking pyramid would benefit the United States and help create sustainable prosperity worldwide. Mathis, director of Thunderbird’s Global Financial Services Center, talks April 26, 2010, in a campus interview in Glendale, Arizona. Audio: Why the world needs more Goldman Sachs (5:47)
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Written on
May 5th, 2010
Confused about the fraud allegations against Goldman Sachs? Thunderbird Professor F. John Mathis, Ph.D., reviews the allegations and puts them into perspective April 26, 2010. Mathis, director of Thunderbird’s Global Financial Services Center, says the notion that Goldman Sachs deceived investors stems from misunderstandings about the bank’s duties as a market maker in the financial services industry. Audio: Straight talk on Goldman Sachs allegations (7:40)
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Written on
May 5th, 2010
Critics anxious to blame Goldman Sachs as a key player in the recent financial crisis should point the finger elsewhere, Thunderbird Professor F. John Mathis, Ph.D., said April 26, 2010. Mathis, director of Thunderbird’s Global Financial Services Center, said the real problem was the failure of central banks to manage excess liquidity in global markets from 2003 to 2007. In this interview, he discusses lessons learned from the crisis and keys to avoid a similar meltdown in the future. Audio: What really went wrong (6:49)
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