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- Herausgeber: Business Book Summaries
- Kategorie: Fachliteratur
- Sprache: Englisch
The must-read summary of Frederick Reichheld's book: "Loyalty Rules! How Today's Leaders Build Lasting Relationships".
This complete summary of the ideas from Frederick Reichheld's book "Loyalty Rules!" shows how there is a direct relationship between loyalty and profitability. The greater the loyalty any firm can engender amongst its customers, employees, suppliers and shareholders, the greater the profits it will reap in the future. In his book, the author explains that this can be achieved by following the six key principles and presents each of them in turn, explaining why they are important and how to implement them. This summary demonstrates the measures that you can take to boost your status, morale and profits.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "Loyalty Rules!" and find out how you can take your fate into your own hands and follow the key principles to success.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 33
Veröffentlichungsjahr: 2014
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Book Presentation: Loyalty Rules! by Frederick Reichheld
Book Abstract
About the Author
Important Note About This Ebook
Summary of Loyalty Rules! (Frederick Reichheld)
Book Presentation: Loyalty Rules! by Frederick Reichheld
Book Abstract
MAIN IDEA
True loyalty is still the fuel that drives financial success, especially in today’s volatile, high-speed economy. The greater the loyalty any firm can engender amongst its customers, employees, suppliers and shareholders, the greater the profits it will reap in the future. Or put another way, there is a direct relationship between loyalty and profitability.
To earn the long-term rewards of loyalty, however, business leaders must learn to put the interests of customers, employees, suppliers and investors ahead of their own self-interests and move away from an all-consuming focus on “maximizing shareholder value”. In fact, leaders choose the “high road” of business practice whenever they replace a single-minded focus on short-term financial results with loyalty as the solid foundation required for financial excellence and sustained success.
In particular, a sustainable loyalty-derived competitive advantage is created whenever six key principles are followed:
Some businesses have made the mistake of assuming loyalty is a relic of a bygone era of commerce. However, other savvy business leaders (the “loyalty leaders”) have gone in the opposite direction and succeeded in building successful and enduring business enterprises on the bedrock foundation of loyalty.
In summary, loyalty is not dead! Nor has it been superseded by something better. Instead, loyalty provides the glue that holds many successful companies together, even in the global marketplace. Loyalty leaders are excelling today and will continue to do so in the future not because they focus on maximizing shareholder value but because they inspire loyalty – which in turn results in happier customers who spend more, committed partners who are willing to commit more and motivated employees who are willing to do more, all of which generates better returns for investors. Loyalty really does pay.
About the Author
FRED REICHHELD is a director emeritus of Bain & Company, a business management consulting firm. He founded Bain’s worldwide Loyalty Practice which specializes in the area of customer, employee and investor retention for superior results. Mr. Reichheld is the author of The Loyalty Effect and has also written for the Wall Street Journal, the Harvard Business Review, the New York Times, Business Week and The Economist. He is a graduate of Harvard College and the Harvard Business School.
The Web site for this book is located at:www.loyaltyrules.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Loyalty Rules! (Frederick Reichheld)
Win/Win: Never profit at the expense of others.
Main Idea
Leaders who want to build loyalty use a thorough understanding of the dynamics of their industry and discipline to put together strategies that protect the interests of their business partners. The key is not to make sure competitors lose but to ensure partners and suppliers win.
Supporting Ideas
1. Always take the high road strategy.
The “low road” business strategy is to say and do whatever it takes to make a customer sale – even if that involves telling some half-truths. Conversely, the “high road” strategy is to work hard towards providing meaningful value and service to customers and to build a long-term relationship with them. Loyalty flourishes and expands only when the high road strategy is taken consistently.
