According to a recent Pew Research poll, 50% of Americans view made-up news as a very big problem for the country. Fake news has become a bigger concern than racism, illegal immigration, terrorism, or sexism. Fake news has undermined our trust in the media. Journalism was once defined by presenting unbiased facts. If our reporter’s still provided unbiased facts instead ...
The financial services industry has recently been handed new SEC rules for financial advisors. Advisors now must put their client’s interest above their own. Many advisors get paid on commission. Oftentimes, bigger commission can be made on products that may not always be in the best interest of the client. When you can make more money simply by steering a ...
When my wife and I try a new restaurant, it’s not uncommon for us to ask our server about their personal menu preferences. It’s refreshing when we discover a candid server who tells you the unvarnished truth. But on occasion we’ve encountered a server who intentionally steers us towards the most expensive items, and we sense their motive is to ...
According to an Association of Psychological Science article, when customers are wronged, there are three critical factors in an apology. The third factor is an offer to repair the damage, or what the Bible calls restitution. Years ago, my wife, Kathy, was involved in a multi-level marketing business. She had a transaction that didn’t go well. She needed to make ...
According to an Association of Psychological Science article, there are three critical elements in an apology when customers are wronged. The second element is an explanation why the problem occurred. Kathy and I went to a new restaurant. The tables were covered in dishes and no one seated us. We considered leaving when the owner came over and apologized. He ...
According to a 2016 Association of Psychological Science article, when customers are wronged, there are three critical elements in an apology. The first element in our series is acknowledging personal responsibility. Years ago, I filled my car at a gas station. One block later my car sputtered and died! When I realized I had been sold bad gasoline, I was ...
A 2017 Customer Rage study by The WP Carey School of Business discovered that 73% of unhappy customers were satisfied when they got monetary relief and an apology. Although wronged customers deserve monetary relief, we also need to apologize. Throughout scripture, God calls us to repent of our mistakes. Jesus said in Luke 15:10, “I tell you, there is joy ...
Former CEO of Rochester Drug Cooperative, Laurence Doud, was recently charged with criminal charges related to drug trafficking opioids. This test case will be a wake-up call for executives that distribute any type of addictive pharmaceuticals. Rochester Drug distributes drugs to pharmacies. Distributors typically serve their customers well by providing whatever legal products the customer requests. If this test case ...
A recent “60 Minutes” TV segment highlighted Connecticut’s claim that several drug companies have been conspiring to dramatically increase prices on prescription drugs. After new drug patents expire, the government intends for competing drug companies to develop generic versions of the drug, making them more affordable for the masses. Unfortunately, according to the Connecticut Attorney General, several drug companies are ...
Clayton Christensen, in his book, The Innovator’s Dilemma, discusses disruptive innovation. He provides examples of companies who innovate not just to meet a need, but to anticipate consumer desires. Disruptive companies like Netflix not only innovate, they create new markets by presenting a solution to an anticipated consumer need. Anticipating a need is one thing, creating a sellable solution that ...
Equipping Others to Do Work Differently
