Companies are able to achieve this state of total customer satisfaction by incorporating good busine

Companies are able to achieve this state of total customer satisfaction by incorporating good busine

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Companies are able to achieve this state of total customer satisfaction by incorporating good business practices. These practices are constructed around stakeholders, business process, resource and organization . Company’s stakeholders consist of employees, suppliers, distributors and customers. Earlier focus has always solely been on shareholders, but now stakeholders need to be satisfied for shareholder’s profit. Companies need to define boundaries of relation with stakeholders as to get maximum value for every participant.
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Unformatted text preview: To ensure maximum value, companies need to develop business processes, which understand and fulfill customer expectations. This can be achieved by aligning cross functional teams across critical processes, to create one smooth flow. Companies need to understand its core competencies and develop them, thereby successfully managing its resources. Organizational structure, design and policies have to be suitable to facilitate the introduction of total customer satisfaction culture....
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