In this weeks CNNMoney we deal with kind of unspoken rule when it comes to good and bad things of business and even sometimes borders on the edge of whether we are doing the most ethical or best thing for the business. Most businesses are trying to meet the needs of their consumers which when you think about it is the right thing to do but what happens when you focus on the consumer so much that you lose track of the business. In this article written by Frances Frei and Anne Morriss we examine this question.
Whether it’s trying to be great at everything or giving great service away for free, there are plenty of ways in which the best intentions spell business failure.
FORTUNE — The world is desperate for good service. Companies that get service right – see Southwest and Zappos – are rewarded with profitable growth and devoted customers. And companies that get it wrong are relentlessly punished. Bank of America’s persistent presence at the very bottom of the rankings for customer satisfaction is one such example.
There are powerful incentives to serve customers well, so why is service excellence still so rare?
Here’s part of the problem: good intentions. It turns out a central barrier to service is not backward thinking and callous management. More often than not, it’s the very human desire to want to do the right thing. BofA’s biggest problem may be that it’s trying not to disappoint anyone right now.
The bank’s not alone. When it comes to service, below are three good intentions with consistently bad outcomes:
To read the rest of this article (HERE)