Viewpoints | Editorial/Management
Getting back in black
Become a customer focused company Kevin Vincent is a director of business improvement consultants Vincent and Nugent Limited - www.vincentnugent.co.nz
By Jonathon Taylor, editor for Magazines Today
John Key’s fourth budget has, as budgets tend to do, drawn more than its fair share of criticism. Political opponents rarely get better ammunition, served up on cue, than a Government’s spreadsheet. It’s the perfect opportunity to sink the boot in, decrying the lack of economic, social and moral nous the incumbent government’s numbers obviously represent. But when it comes to this year’s little number cruncher, I think many may have protested too much, because the nay-sayers are ignoring how critical it is for New Zealand to get back in black. The quest to balance the national books is, despite what the Government itself is saying, the prime motive behind this year’s budget. The plan is to return the national budget to surplus in 2014/15. Although admitting Reserve Bank Governor Alan Bollard’s estimate that this date is two years premature might prove accurate, John Key has said it’s not a date Treasury intends to abandon easily. The fly in our economic ointment is stuck in a European pickle. And when you look at how troublesome running massive deficits in less than predictable economic times is, then theory of returning to surplus quick sharp is sound. Debt levels the US is now running is well into the realm of silly numbers and the union’s ability to effectively ‘make its way out of trouble’ vanished offshore with the thousands of manufacturing jobs lost to low wage nations. It’s now anyone’s guess when the Federal Reserve will require any black ink. Although giving austerity the green light to avoid Eurozone excommunication, Greece’s ability to turn a blind eye to the trouble it was creating for itself is now the stuff of legend. But it’s alright – they’ve got lots of big, shiny, barely used stadia all over the shop; so plenty of places to run around in circles wondering where it all went so horribly wrong then.
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In stark contrast, National’s 2012 budget verges on self-imposed austerity; ensuring net debt remains below 35 percent of GDP and any new spending is matched by a combination of saving and revenue initiatives. One topic the critics have been a little hesitant to mention is our national credit rating. Credit rating agency Standard & Poor’s, which cut our sovereign rating to AA last September, announced on the release of the budget, that the rating would hold as long as the government continues to work towards a surplus. Finance Minister Bill English stated that, “Returning to surplus is important because New Zealand is one of the most indebted countries in the world as measured by our net international investment position. We need to start rebuilding a buffer for when the next global crisis comes. Surpluses give us choices we simply don’t have while we’re running deficits.” All bets still seem off as to what choices European states might end up with. But you can’t help but recognise the risk to any nation carrying crippling debt levels and this is why National’s belt tightening to get us back in black within three years is more than prudent, it’s vital. In this issue we look at how The World of Wearable Arts really does intend to wow the world after having such an influence around town. Property guru Olly Newland explains why commercial property investment might be a better bet than residential and John Psathas and Mai Chen muse about motivation. And with London 2012 only weeks away, we sit down and chat to our champions’ champion; New Zealand Olympic Games chef de mission Dave Currie, on the eve of his final Olympic mission, about the state of the Games and those who play them. There’s plenty here for all.
In order for organisations to excel, they must do more than simply satisfy their customers. They must differentiate themselves and their employees in significant ways that add value to the “customer experience”. They must provide service that is unique, faster, more reliable, more responsive, and more caring than ever before.
This sentiment needs to be embraced by all in business, who by their very existence, pursue the exchange of goods and services for payment.
Organisations must:
My tips for the provision of best service include:
1. Demonstrate an understanding of the customer’s needs and expectations 2. Exceed the customer’s needs and expectations. Customer service is everyone’s responsibility. The secret is simple - make it easy and pleasant for your customers to do business with you.
2. Constantly seek ways to add value to the customer relationship
Customers are really everything. We all recognise the importance of the provision of best possible customer service and that adding value to the customer experience will enhance our chances of future growth. Why then do we encounter and are subjected to shoddy, sloppy and thoroughly unprofessional service? When was the last time you felt neglected, frustrated and annoyed at the service you received? I expect it wasn’t that long ago. Dr. Albert Schweitzer, the German (and then French) theologian, organist, philosopher, physician and medical missionary said, “I don’t know what your destiny will be, but one thing I know: the only ones among you who will be happy are those who will have sought and found how to serve”.
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3. Listen to your customers. Listen to hear, listen to understand and listen to communicate your understanding. Everyone loves a listener 4. Do the right things for your customer. Be empathetic and see things from their perspective. Have a real integrity and strong values with your customer. Treat your customer as you would like to be treated 5. Provide best possible service to your internal customers. Try it, the results will delight. As we treat each other better so we will all play our part in the provision of best service to our external customers. Customer service is contagious 6. Trust your customer and be trusted. It is the foundation of relationship.
Enjoy.
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Organisations must focus on customer service. It is true many companies have the same levels of technology, similar equipment and processes and that the only real opportunity to differentiate, or stand out from your competitors, is to provide better service and constantly seek ways to add additional value.
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