The broader denition helps us understand what were up

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Unformatted text preview: were in the business of running trains on tracks. They didn’t understand they were in the business of transporting goods and people. When trucks, buses and highways grew, the railroads were left behind. My company, Palo Alto Software, is not in the business of software development. It is in the business of helping people do business plans by themselves, providing business know-how through software and documentation. The broader definition helps us understand what we’re up to. Customer Satisfaction Leading experts in developing customer satisfaction look to a mission statement to define customer satisfaction goals. Developing customer care programs depends on spreading the idea and its importance within a company. That should normally start with a goal included in your mission statement. Workplace Philosophy Some mission statements also define internal goals, such as maintaining a creative work environment and building respect for diversity. Experts in employee relations look immediately to a mission statement for a definition of a company’s stand on some of these fundamental issues. Value-Based Marketing Experts developed the value-based marketing framework to help companies understand their business better. This framework starts with a business value proposition, which states what benefits a business offers, to whom, and at what relative price level. CHAPTER 3: INITIAL ASSESSMENT 3.3 For example: • This automobile manufacturer offers reliable, safe automobiles for families at a relative price premium. • This fast-food restaurant offers quick and consistent lunches at a low price. Put it Together in a Simple Mission Statement If you don’t already have it, you should develop a useful mission statement and make it a foundation of long-term strategy. Make sure it addresses what the company offers to each of three important groups: customers, employees, and owners. Make sure it can last for years. Keys to Success Focusing on what I call “keys to success” is a good idea for getting a better view of...
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