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Customer Service and Financial Return

Are there financial benefits for companies with good customer service representative records (CSR), and can good CSR policies actually boost share prices and have a positive impact on the bottom line?

Most certainly, good CSR policies can have a positive impact on the bottom line, which in turn, can boost share prices. The financial benefits of good CSR policies are numerous and multifaceted. For example, good CSR policies can lead to increased revenues (as service is a key component to every business' success), and reduced costs through improved efficienciesùboth of which drop to the bottom line. Michael Dell, for example, built his multibillion-dollar enterprise by promoting superior customer service as one of its key competencies (the others being mastery of the value chain and superior logistics).

When the bottom line is increased through measures such as superior customer service, the secondary market tends to react favorably because investors view this increase as sustainable over the long-term. (In comparison, a layoff announcement has a temporary positive impact on stock price because it is a temporary means of boosting the bottom line, but it is not a sustainable long-term strategy.)

In general, any strategy that can increase revenues or improve operational efficiencies as a long-term strategy (such is the case with superior customer service) will improve the bottom line, and consequently could boost stock price.

How do law and ethics differ? How are they similar?

Thomas Jefferson once said, "I consider ethics, as well as religion, as supplements to law in the government of man." Essentially, in this country, law defines what you can and cannot do, while ethics defines what you should and should not do.

U.S. law is based on the basic principles of protecting civil liberties (freedom, pursuit of happiness, freedom of speech, etc.). As such, the founding forefathers were careful to minimize the number of ...

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Customer Service and Financial Return. (1969, December 31). In LotsofEssays.com. Retrieved 21:48, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1706059.html