Before going into the discussion regarding concept of loyalty, let us get a better understanding of what loyalty actually is Singh,in an article,found that loyalty is a strong force that keeps us in a relationship, whether it is a personal or business …
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Loyalty is the exhibition of characteristics of commitment and devotion in order to strengthen a business or personal relationship. The concept of loyalty has its roots in all fields of life. A loyal person values the importance of faithfulness and dedication in carrying out daily activities of life. Loyalty always has a high appraisal value whether a person proves it to a person or to the organization for which he or she works. If we talk about loyalty in personal relationships, it is a fact that loyalty helps the people involved in a relationship build trust, faith, and confidence in each other. Whereas, in case of business relationships, loyalty plays its considerable role in strengthening the business terms between the involved parties. Loyalty not only shows its value in personal or business relationships but also it plays a critical role in the success of an organization or a business firm. The concept of loyalty is applicable to the employees as well (Green). Loyal employees and loyal customers make a firm grow and achieve reasonable market share. Employee loyalty is integral for the success of a business. Employees’ efforts, devotion, and dedication to their job responsibilities make a company reach a good position in the market and if the employees of a company will not be loyal to their company, the company will not be able to prove its worth in the market. It is true that a loyal employee is a key towards a company’s success.
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(Concept of Loyalty Essay Example | Topics and Well Written Essays - 250 Words)
“Concept of Loyalty Essay Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.org/other/1410012-a-concept-easy-on-loyality.
Decision making and problem solving are related concepts, each of which requires use of innovation and creativity in realizing available options. Brainstorming is commonly employed to achieve this purpose. Problem solving skill itself makes use of the decision making ability, while decision making is required for effective leadership and management.
With airlines introducing frequent flier privileges, credit card companies offering reward points to customers through discounts on specific purchase and retail stores offering redeemable gift coupons, loyalty programmes have deeply percolated the business thought process.
Customer loyalty deals with the behavior, attitudes and perceptions of customers. Customers are considered to be an asset for any business as they can provide good ratings, testimonials and evaluations to different products and services, which are available in the market (Reinchheld, 2006, 56).
There is always a reason for customer loyalty, it is believed, which behaviour differs from the one purchase to the next, and are not accidental (Ibid.).
Morgan et al. (2000), however, makes distinctions between customer loyalty and customer retention. Accordingly, whereas the former usually involves both behavioral and attitudinal dimensions, the latter is purely behavioral.
The practical findings are very much different from the theoretical assumptions. The study aims to highlight these differences.
The current tough market in tourism has increased the pressure on the tourist market to create new and creative ways to lure tourists into
It would follow that the behavior of man is intrinsically linked to his/her value system and the environment. While the socio-cultural and religious guidelines broadly determine the parameters of one’s way of living, the personal values become the important elements of decision making in social interaction.