Building Customer Experience Strategies Customer experience, known also as CX, is a customer’s complete experience when interacting with your business. These interactions could be in the form of front desk service, navigating website, and delivery of purchased products. Creating an excellent CX for your business influences your customer’s approach, and it can also determine whether...
Harsh economy pressure is putting a lot of challenges on retail companies, forcing most into the difficult position of cutting back on service levels that customers have come to expect in recent years. Retail shops are being closed, operation hour have been reduced, and staff laid off to reduce cost. Still faced with rising...
\\ Financial planning is not a one-time process where you make your spending plan and then sit back. It is a step by step process that acts as a guide and helps you reach all your set monetary objectives. It helps assess all your income and expenditure, so you are always aware of where you...
RFID, or Radio-Frequency Identification, is a method of storing data and retrieving it via radio waves. Much in the same way a barcode can store information about a type of product, RFID tags contain unique identifiers that correspond to inventory database records. Switching to RFID in your logistics chain offers some significant advantages over...
Operating in today's uncertain environment, requires that leaders must think about performance in much broader terms. leaders must lead with the complete slate of stakeholders in mind. There are many conversations and decisions that only the CEO can make. Corporate leaders can start by asking themselves key operational questions such as: Where will customers see...
Why and is it a viable policy? Countries over the years have adopted as a policy the deliberate downward adjustment of the value of their money relative to another currency, group of currencies, or currency standard. Countries that have a fixed exchange rate or semi-fixed exchange rate use this monetary policy tool. It could be...
Shrinkflation occurs when firms reduce the size or quantity of a good and keep prices the same. Shrinkflation is an alternative to inflation. Rather than increasing prices you get a smaller quantity. Related concept- SkimpflationSkimpflation is a situation where firms – in response to higher costs – reduce the quality of a good/service. Skimpflation means...
Unicorns are privately held startup companies valued at over $1 billion The term was made popular in 2013 by venture capitalist Aileen Lee, choosing the mythical animal to represent the rarity of such successful ventures. there are now 30 unicorns with over $10 billion valuation in the world, They have been given the name...
Forensic auditing is a specialty in the accounting industry, and most accounting firms have a forensic audit department. It covers a wide range of investigative activities, often conducting steps to prosecute a party for fraud, embezzlement, or other financial crimes. It could also involve situations, such as disputes related to bankruptcy filings, business closures,...
