Thursday, December 22, 2011

The blunders that companies make

You know everybody makes blunders and suffer for it as a consequence. Most of the people make amends to their blunders and get on with their lives as it affects them more or less on a personal level but when a company makes blunders than it has not only to contend with its customers but also suffer internally with the morale of the employees going down. This happened with a video rental company when they abruptly raised the prices of their rental to double of what people were paying before drawing outrage and anger at people who have previously perceived the company as the most consumers friendly. In disgust, the membership of the company went down and now they are trying to mend fences slowly. It just shows how a well managed company can bungle its way (which they have already acknowledged) and become unpopular at the same time.

It is not the first time and it won't be the last time many well managed and superbly run companies will make blunders and initiate or change policies in which they run business that will alienate some of the core customers. The companies have to do some internal training and do some experiments before even initiating new policies, because the changes that the companies may make financial sense to them but if they do not let their customers or clients know them and have test experiments before going live with them then they will continue to have problems which can hit their bottom-line badly.

No comments:

Post a Comment