Book review firms of endearment how world class companies profit from passion and purpose
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Transcript of Book review firms of endearment how world class companies profit from passion and purpose
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2. Firms of Endearment How World-Class Companies Profit from Passion and Purpose Rajendra S. Sisodia David B. Wolfe Jagdish N. Sheth Book review 3. Foreword
- This book operate by a guiding vision of service that takes in to accounts all their primary stakeholders, customers , employee, suppliers, partners in the supply chain.
- The companies fallow stakeholder relationship management business model rather than a traditional stockholder-biased business model.
4. Stakeholders
- Society
- Partners
- Investors
- Customers
- Employees
5. FoE Stakeholders
- Society
- local and broader communities as well as governments and other societal institutions, especially nongovernmental organizations (NGOs)
- Partners
- Upstream partners such as suppliers, horizontal partners, and downstream partners such as retailers.
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- Investors
- Individual and institutional shareholders, lenders.
- Customers
- Individual and organizational customers; current, future, and past customers.
- Employees
- current, future and past employees and their families.
7. INVESTORS CUSTOMERS FoE EMPLOYEES SOCIETY PARTNERS 8. CUSTOMER
- Loyalty:
- The company can be loyal to customer by providing quality, reliability & service.
- Quality
- The customer must be satisfied by thequality of the product at a cheaper rate From the company.
9.
- Services:
- The company should facilitate service center at different location whereby customer can be able to visit the service center for their complaint and grievances.
10. Role Of Partners
- Focus on the situation, issue, or behavior- not the person.
- Maintain the self confidence and self-esteem of others.
- Maintain constructive relationships with your employees, peers, and managers.
- Take initiative to make things better.
- Lead by Example.
11. Problems Of Partners
- An individuals decision can affect his other partners.
- Partners may have conflicting visions and goals for their company.
- Partners may have unequal commitment in running a business.
- It is usually hard to find partners who share the same vision.
12. Before you form a partnership, Design the following:
- Help partners understand all the implications
- Help partners realistically define duties and responsibilities
- Help partners understand personal wants, needs and desires
- Help uncover and resolve issues at the outset
- Help create agreements with 'built-in' satisfaction
- Help encourage discussion and define potential problems
- Help create the most solid partnerships and/or agreements
13. Society
- Protection to Environment
- Quality Product
- Reasonable Pricing
- Control of Business Malpractices
- Protection of Consumer Right
- Social Welfare
14.
- Companies Benefits Society By:
- Supplying goods and services that customer cannot, or do not want to produce themselves.
- Creating jobs for customers , suppliers , distributors and co-workers.
- Continually developing new goods , services and processes.
- Investing in new technologies and int he skills of employees.
- Spreading good practice in different areas, such as the environment and workplace safety.
15. INVESTOR
- Who is the investor?
- The declining life expectancy of companies
- Win-win situation
- FoE company looks for long term results
- FoE companies invest money inR&D and marketing
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- Hybrid relationship betweeninvestors, employees and customer.
- FoE companies meet the tangible and intangible needs of investors.
- Pragmatic role of love in business.
17. Employees FoE Investor Customer Hybrid relationship ESOP Employee discounts Investor Discount Loyalty rewards 18. Employees
- What is Employees to the companies
- What a employees requirement of companies
- How to satisfied employees
- How employees helps to companies becomes a firm endearment
19. Review of the Book
- Its introduction of the concept of IRONIC MANAGEMENT.
- This book not only challenges capitalisms traditional marketing paradigm but the very genes of capitalism.
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- Companies no longer defend putting profits ahead of wining share of heart because customers and investors increasingly believe one doesn't come without the other.
- More loyal customer, more engaged employees, more trust between labor and management, more community support and ultimately more value produced for shareholders.
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- For investors
- It is a dynamic process requires, participation and communication by all stakeholders & acting with integrity. Any conflicts will be mediated and win-win solutions found.
- For employees
- These companies pay their employees very well, provide great value to customers, and have thriving, profitable suppliers.