This is the first in a series of guest posts by Rob Chamberlain, Marketing Manager for a financial services company in the Midlands.
At what point did running a business become more about betting and less about having a killer product or satisfying the most simple of needs?
Now bare with me, I’m not going down the boring corporate discussion route, but I am an Economist turned Marketer, and like the rest of you, I do feel slightly peeved about the events of the last two years.
When I think of the long hours I spent listening to seasoned lecturers talking about what makes a business successful and how this creates a healthy economy, I wonder if mine was the only class that had ever been taught this stuff.
So much of what we hear about companies recording record losses or going out of business has more to do with bets placed on the future value of x and y and less about their inability to keep customers happy.
Take a look at the airline industry, now I won’t name names, so for the sake of having an example lets call the carrier in question Blighty Skyways. Now Blighty’s results over the last two years have varied significantly because of hedges made on the cost of fuel. Now I’m not saying this is the only reason for their losses but it doesn’t help, especially when they then go and ask employees to work for free.
So I go back to my initial question; when did business become more about having a bet and less about satisfying customer?
I promise my next posts will be a bit more interesting, but I felt like getting this off my chest. At least I didn’t write about banks.
Your thoughts please.
photo credit: René Ehrhardt
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