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POOR CUSTOMER SERVICE PLACES AN ONEROUS TAX BURDEN ON BUSINESS
Economists agree that the first principle of economics is scarcity. And, in free market economies customers are the scarcest resource: precious commodities, expensive to acquire, and in hot demand by the competition. These same precious commodities, however, are all too easily squandered through poor service practices. Read More…
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ECONOMIES OF SCALE AND THE ROLE OF SERVICE
The organization that fails to focus on the customer, by default, yields to an industrial-age paradigm where efficiency not effectiveness, internal processes not customer-oriented processes, and short term financial performance not long term growth are king. Read More…
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SUPERIOR CUSTOMER SERVICE: TURKEY SHOULD HOPE IT WERE THE SOLE ADMISSION STANDARD TO THE EUROPEAN UNION
A couple of summers ago my wife and I had occasion to spend a week in Istanbul, Turkey. The city is clean, bustling, and thriving. Construction cranes can be seen on the horizon in every direction. And, of all of the places we have traveled to in the last forty years we can’t remember a more pleasant experience. Read More…
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STOCK BUYBACKS WILL FIX EVERYTHING… EXCEPT SERVICE TO THE CUSTOMER
Stock buybacks of S&P companies totaled $536 billion during 2016, down somewhat from 2015’s total of $572 billion. To grasp the significance of those numbers consider that S&P companies spent 58% of their corporate earnings in 2016 to effect their stock buybacks. For the year 2015 the comparable ratio was 65%. Read More…
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AMERICA’S ECONOMIC PRIMACY: A THING OF THE PAST?
America’s economic primacy is behind us. And, I don’t believe there is any chance of reversing a trend that began thirty plus years ago. The best case scenario for the nation is to arrest the rate of economic decline – never mind social and cultural decline, which are probably lodged in irreversible decay. Read More…
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HOW IDEOLOGY MASQUERADES AS IMPARTIAL ECONOMIC ANALYSIS
Editor’s note: Nobel Prize winning economist Paul Samuelson has been hugely influential in promoting his views from the day he published his economics textbook in 1948. He also penned a regular column in Newsweek magazine for fifteen years during the 1960’s. Little wonder then, that Samuelson has been referred to by one economic historian as the “Father of Modern Economics. Read More…
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GET THE IRS OFF THE BACKS OF AMERICANS INVESTED OVERSEAS
The United States Congress recently failed in its attempt to repeal the obnoxious Foreign Account Tax Compliance Act [FATCA] as part of the Tax Cuts and Jobs Act bill passed in December, 2017. Read More… -
CAUSE AND EFFECT THINKING IN ECONOMICS NEEDS A SERIOUS RESET
Carl Menger, founder of the Austrian School of Economics, made clear that in Economics, as in all walks of life, causality rules the roost. Read More…
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WHY IRELAND WORKS
President John F. Kennedy’s sister, Jean Kennedy Smith, United States Ambassador to Ireland, provided a pleasant foretaste of what lay ahead for our Company’s doing business in Ireland. We soon learned that the Emerald Isle was all business when it came to business. Read More…
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MEXICO: A WORK IN PROGRESS
The very same day I arrived in the city of Monterrey the local news reported that police had found six severed heads in the trunk of a car parked at a gas station. I was in Monterrey to lead a seminar and workshop on Service Management to a local group of business men and women over the coming three days and this was hardly the welcoming I was expecting. Read More…
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