Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Customers have always been a key concern for organisations. Satisfying customers is critical to achieving increased sales, market shares, and therefore the shareholder value. Customer

image text in transcribed Customers have always been a key concern for organisations. Satisfying customers is critical to achieving increased sales, market shares, and therefore the shareholder value. Customer experience is one of the four major perspectives of the Balanced Scorecard (BSC), which underlies a strategic performance measurement system. Online reviews are an effective and public information for companies to learn from their customer experience. Among other review platforms, Google reviews have become more popular for customer feedback and suggestion on a company's product and/or service. Reviews can be obtained by searching the business name in Google search engine or in Google Maps, which enables users to write and see customer reviews and rates on a scale of 1-5, including the following categories: 5 - "loved it", 4 - "liked it", 3 - "it was okay", 2 - "disliked it", and 1 - "hated it". Required: a. In your own words, briefly describe the background, core business(es) of your existing company or a selected company or a local business (manufacturer/service provider), and then discuss how important customer experience is for the performance of your selected company. b. Using Google reviews on your selected business's product or service to analyse and improve customer experience. As a junior management accountant, you are required to write a professional report that outlines the proposed changes and includes arguments to improve the current customer satisfaction level. Your report must comprise the following tasks: Select a company/business (or your existing employer) which has at least 30 Google reviews, and register it in a link for the Selected Company Review in Moodle. Please note that: - If the selected company has more than 100 reviews, download 100 reviews that randomly appear in the Google Maps. - If the selected company has several branches/stores/locations, download available reviews for the headquarter only. Collect and store both rate and textual reviews in an Excel spreadsheet (see the BoschGoogle Review Example in Moodle for a typically formatted data table). 8 Use both rates and textual reviews of customers to perform some analyses with bar chart and textual frequency (see the Bosch-Google Review Example in Moodle for frequency analysis formula and simple text-mining formula in Excel) to understand the relevance of core attributes of products and services with customer satisfaction and dissatisfaction. Please note that: - The attributes of product and service depend on the nature of your selected business and may include staff, quality, value, innovation, design, warranty service, professionalism, responsiveness, location, etc. Read through each customer review to identify appropriate attribute(s). - You are encouraged to perform more than the above required analysis tools. Outline main causes of customer dissatisfaction. Propose and explain some performance measures that address and continuously improve customer satisfaction. How can the proposed performance measures of customer satisfaction be linked to other perspectives of the company BSC? Make sure that the measures are tailored specifically to your selected business. Include relevant information, analysis, charts, and tables in your final report in addition to submitting the data spreadsheet for evidence

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Stability Economic Growth And The Role Of Law

Authors: Douglas W. Arner

1st Edition

0521690560, 978-0521690560

More Books

Students also viewed these Finance questions