Impact of customer motivation on profitability of financial Essay

Impact of customer motivation on profitability of financial institution in Oman - Essay Example Without these people this work would not have come to a smooth completion. May the Almighty Allah bless you all and protect you. Research findings have potent that customer motivation is an essential ingredient in the performance of a financial institution all over the world. It has been shown by business research that well satisfied customer’s guarantees at least 2% increment in business profitability by the end of every trading year. Customer satisfaction reduces the cost of business operations on advertizing by over 5% every year according to research findings. This is because a satisfied customer is an advertisement to a business by itself. This research study is aimed at finding the motivational tools used by financial institutions in Oman in achieving their financial objectives. The objective of this study is to evaluate customer motivation techniques in Oman banks and other financial institutions. It focuses on the influences of these motivations to the achievement of these institutions goals and objectives. Business experts have agreed to the fact that businesses that invest in customer motivat ion more often than not makes high profits than those that do not. Over a long time financial institutions have adopted the idea of treating customers as assets. This has therefore necessitated the need to measure the value of the customer and the value customer by financial institutions. This also has provided several institutions with the need to identify opportunities for the growth of the customer value and the return of investment on customer base and loyalty to an institution. Such findings often are seen as the basis of employee actions in the creation of the values that attracted and increased the customer base in an institution. The achievement of such objective requires the development of appropriate incentive

Synthesizing two books regarding business Essay - 1

Synthesizing two books regarding business - Essay Example Managers are directed by professional and technical competence while leaders should be drivers for change and capable of inspiring people to greatness by converting talent to competence. He seeks to answer questions such as; What is the difference between leaders and managers? and What drives great leaders to their success? On the other hand, Sun Tzu’s â€Å"Art of War† explores the subject of war, which is not particularly different from the contemporary business environment. He focuses on the importance of strategy and effective leadership in war and tries to answer questions like; When is it worth going to war or making peace? He proposes that one must understand their enemy and like Buckingham, he talks about leveraging on ones strengths to ensure they get the upper hand. However, his methods tend to be rather Machiavellian, as he advocates deception where necessary if it aids one’s side achieve victory. According to the art of war, a great leader will know his strengths and weakness as well as those of the enemy (Tzu 50). Therefore, he will leverage on his knowledge to both take advantage of the battle and assume control over the environment subsequently securing victory. Admittedly, given that people who lived centuries apart wrote these books, they have little in common in respect to the cultural or even social experience. Nonetheless, from a business perspective, distinct similarities emerge in the underlying themes that both authors express in their works. Both books are focused on achieving victory; while the art of war is a military book it has been used by business students for hundreds of years because of its timeless and effective lessons. It advocates leveraging on ones strengths and the weakness of the enemy, which is essentially the same idea proposed by Buckingham. In Buckingham book, he proposes that great leaders must strive to understand their