Maurice Roussety, The Cost of Customer Service
In can be easy to forget that customers are the foundation of any great company. Most businesses are thought of as operating on their own, independent of the hopes, dreams, or goals of outsiders. However, businesses exist for the sole purpose of making their customers happy. They need to create products, goods, or services that the public demands and be able to market them at affordable prices. That is why, especially in today’s world of social media and the internet, having strong customer relationships and customer satisfaction is a key part of any successful business.
Dr. Maurice Roussety, overcoming adversity and preparing business for globalization, is a financial and marketing expert, as well as an accomplished academic. He has spent decades studying the global economy and this background in academia has helped him in his role as a professional consultant for a number of companies. He has an undergraduate degree in Economics and Accounting from Monash University, a Masters of Business Administration and Masters of Leadership from the University of New England in New South Wales, as well as a Ph.D. in Intellectual Property and Franchise Business Valuation from Griffith University in Queensland. He created the Franchise Risk Imputation Model (FRIM), which establishes a framework based on two cornerstones: risk-free rate and total risk as measured by the sum of market specific and company specific risks. He has also written a PhD thesis titled “An Integrated Economic Model for the Evaluation of Franchise Systems – A Synthesis of Agency and Finance Theories.” Currently, he is working as a professional consultant, helping business to streamline their practices and helping them to generate better revenue in the modern business world.
Customer satisfaction in the modern world essentially boils down to having the right online presence. Customers have more power than ever before when it comes to sharing their unfiltered thoughts through Facebook, Twitter, Instagram, or review websites such as Yelp. Businesses that focus on expanding and nurturing their customer base, therefore, are at a serious advantage over those that don’t take this seriously.
Dr. Maurice Roussety discusses building business on customer satisfaction in his public speaking about the power of franchising. In Australia alone, franchises generate revenues in excess of $144 billion and directly employ more than 460,000 Australians through over a thousand franchise systems. Franchises rely on a solid customer base to bring in goodwill for new establishments, ultimately guaranteeing their success over the rest of the competition.