MBA Knowledge Base

The Customer Satisfaction Model – Based on American Customer Satisfaction Index (ACSI)

The Customer Satisfaction Model is a set of causal equations that link perceived quality, perceived value and customer expectations to customer satisfaction. The customer satisfaction model is linked, in turn, to its consequences in terms of customer complaints and customer loyalty. This model is based on the American Customer Satisfaction Index (ACSI), which is one of the best-in-breed solutions for customer satisfaction measurement that is tied directly to financial performance. The American Customer Satisfaction Index (ACSI) is the leading national indicator of customer satisfaction with goods and services in the U.S. economy. The ACSI was developed by the University of Michigan’s Stephen M. Ross School of Business. The dependent variable in this conceptual model is customer satisfaction, while the independent variables are perceived quality, perceived value and customer expectations. Customer complaints and customer loyalty are the results (consequences) of this conceptual framework. Perceived quality is the first determinant of customer satisfaction, Continue reading

Abey Francis

6 Tips on Choosing the Right Forex Broker

So, you have decided to enter the forex market and start trading? You have most likely done quite a lot of learning here, before making that particular decision, and there is absolutely no doubt that you are ready to start trading now that you have decided to do it. Sure, you will never be 100% ready, and there is always some risk involved, but you have most likely been learning a lot about this, and you feel confident enough to give it a go. Read more about forex trading in general: https://moneysmart.gov.au/investment-warnings/forex-trading Now, of course, in order to give this a go, one of the main things you will have to do is, naturally, find and choose the right forex broker for yourself. You know that choosing the right platform is of extreme importance, and you absolutely know better than to make a random choice and hope for the best. Continue reading

Abey Francis

The ADDIE Model for Instructional Design in Training Development

Instructional design denotes the process through which tutors or other relevant education stakeholders improve instruction through the systematic development of teaching materials to respond to the identified learning requirements. It is also referred to as instructional systems design. To guide the process of instructional design, many approaches have been suggested and their effectiveness supported and criticized in equal measure. One of the most popular instructional system design models is the ADDIE model, which represents five phases of the instructional design process. The phases comprise the Analysis, Design, Development, Implementation, and Evaluation stages It is important to know and understand the ADDIE model if a training development program is to be successful. ADDIE model is an extremely effective tool in training development that addresses instruction. Most employees have a significant amount of information to learn in order to become more proficient at their jobs. Therefore, the ADDIE model could be quite Continue reading

Abey Francis

Case Study: Balancing Culture and Growth at Starbucks

Howard Schultz built Starbucks into one of the most successful companies in the United States. Indeed, Starbucks has joined such other iconic American corporations as Disney and McDonald’s in spreading its brand across the globe. Indeed, Schultz has come to symbolize a new breed of high successful entrepreneurs. His 2000 memoir, Pour Your Heart into It: How Starbucks Built a Company One Cup at a Time, became an instant best-seller. People can be forgiven if they believe Schultz was the company’s founder, but this is not the case. Starbucks, in fact, was founded in 1971. It was already a thriving, albeit small, coffee bean market in Seattle’s Pike Place Market when Schultz first dropped in. At the time, he was selling kitchenware for a Swedish manufacturer. It was, he claims, love at first smell. In 1982, he moved to Seattle and joined the company as director of retail operations. A visit Continue reading

Abey Francis

What is Transformational Leadership?

In any organization, the focus is based on yielding high profits. The key to this lies in the leader, who in turn inspires the staff. Leadership in an organization is usually classified into different categories based on the style the leader uses. Different leadership styles are used to attain desired goals, but the secret to an organization that is effective in achieving its goals lies in the use of transformational leadership. A leader usually uses power and influence to exercise authority. In transformational leadership, however, the idea is to emphasize influence to manage the teams and bring them aboard to understand the leader’s vision. Transformational leadership can be defined as implementing new ideas through adopting a more flexible and universal method of influencing and continually ameliorating those around them. This type of leadership calls for the leader and the staff to improve one another’s motivation levels. Motivational leaders bravely work towards making Continue reading

Abey Francis

Risk Matrix Approach to Risk Analysis

A risk matrix is defined as a table that is divided into several categories of probability, likelihood, or frequency for its rows, and multiple categories of severity, impact, or consequences for its columns. The constituents of risk ordinarily attest themselves as a hazard; which refers to the likely origin of a harmful outcome and harms; which are the ensuing damages to the environment. It incorporates generally accepted ratings of risk, urgency and priority, with every row-column pair. This is represented by distinct cells which are separately colored, using red, green and yellow colors. Each distinct cell has a different risk rating, for instance, cells colored in red will indicate risks that require an urgent attention, whereas those that are colored in green will indicate those risks that do not require to be dealt with urgently. The yellow colored cells indicate those risks that fall in between the ratings of very urgent and Continue reading

Abey Francis