Limited Understanding on What Core Products and Services Create the Numbers

Although few companies have zeroed in on customer experience, many have been trying to measure customer satisfaction and have plenty of data as a result. The problem is that measuring customer satisfaction does not tell anyone how to achieve it. Customer satisfaction is essentially the culmination of a series of customer experiences or, one could say, the net result of the good ones minus the bad ones. It occurs when the gap between customers’ expectations and their subsequent experiences has been closed. To understand how to achieve satisfaction, a company must deconstruct it into its component experiences. Because a great many customer experiences aren’t the direct consequence of the brand‟s messages or the company’s actual offerings, a company‟s reexamination of its initiatives and choices will not suffice. The customers themselves—that is, the full range and unvarnished reality of their prior experiences, and then the expectations, warm or harsh, those have conjured up—must be monitored and probed.

Such attention to customers requires a closed-loop process in which every function worries about delivering a good experience, and senior management ensures that the offering keeps all those parochial conceptions in balance and thus linked to the bottom line. This article will describe how to create such a process, composed of three kinds of customer monitoring: past patterns, present patterns, and potential patterns. (These patterns can also be referred to by the frequency with which they are measured: persistent, periodic, and pulsed.) By understanding the different purposes and different owners of these three techniques—and how they work together (not contentiously)—a company can turn pipe dreams of customer focus into a real business system

Customer experience is the internal and subjective response customers have to any direct or indirect contact with a company. Direct contact generally occurs in the course of purchase, use, and service and is usually initiated by the customer. Indirect contact most often involves unplanned encounters with representations of a company’s products, services, or brands and takes the form of word-of-mouth recommendations or criticisms, advertising, news reports, reviews, and so forth. Such an encounter could occur when Google’s whimsical holiday logos pop up on the site’s homepage at the inception of a search, or it could be the distinctive “potato, potato” sound of a Harley-Davidson motorcycle‟s exhaust system. It might just be an e-mail from one customer to another.

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The secret to a good experience isn’t the multiplicity of features on offer. People’s expectations are set in part by their previous experiences with a company’s offerings. Customers instinctively compare each new experience, positive or otherwise, with their previous ones and judge it accordingly. Expectations can also be shaped by market conditions, the competition, and the customer’s personal situation. Even when it is the company’s own brand that establishes expectations, the customer can be set up for disappointment. For example, Dell transformed buying computers over the Internet from a risky to a reliable experience. When it extended that set of procedures to the selection and purchase of expensive plasma HDTV sets, however, it disappointed. Dell did an effective job of creating positive customer expectations, but they turned out to be better fulfilled by the in-person sales force at Best Buy.

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Essential Reports Beneficial to Departments Not Provided

Organizations over the world face challenges of controlling lateness, absenteeism and labor turnover among their employees and these have been issues of much worry to most employers. Efforts have been made to permanently curb these problems in order to avoid the costs that come with them but unfortunately, there seem to be no permanent solutions.

Lateness in organizations bring both economic and psychological consequences on the level of output and organizations must strive to control and minimize it. When an employee arrives to work late, it puts the whole organization’s production plan into disorder. This may go a long way to affect productivity and therefore the organization’s effectiveness. If the organization provides service, the employee’s lateness may affect the quality and or quantity of service offered, especially in a setup where one employee‟s output is the other’s input (Blau, 1994).

An error in an accounting item that was not caused intentionally. An accounting error can include discrepancies in dollar figures or might be an error in using accounting policy incorrectly (i.e., a compliance error).

Cost Accounting Mistakes

Accounting error should not be confused with fraud, which is an intentional error in an accounting item, usually to hide or alter data for personal gain. Cost accounting is a process of collecting, recording, classifying, analyzing, summarizing, allocating and evaluating various alternative courses of action & control of costs. Its goal is to advise the management on the most appropriate course of action based on the cost efficiency and capability.

Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future.

Since managers are making decisions only for their own organization, there is no need for the information to be comparable to similar information from other organizations. Instead, information must be relevant for a particular environment. Cost accounting information is commonly used in financial accounting information, but its primary function is for use by managers to facilitate making decisions.

Cost accounting is one of the different types of “accounting‟ systems that fall under management accounting. It is a system that has been developed to provide managers with a structure to examine the day-to-day finances of the company, while not having tax factors to worry about. From the information gathered, managers can make decisions on where to cut costs to improve the company’s profitability. Cost accounting doesn’t follow any specific standards, such as the GAAP (Generally Accepted Accounting Principles), as it is not used for external purposes

Unlike the accounting systems that help in the preparation of financial reports periodically, the cost accounting systems and reports are not subject to rules and standards like the Generally Accepted Accounting Principles (GAAP). As a result, there is a wide variety of the cost accounting systems of the different companies and sometimes even in different parts of the same company or organization. When employees make mistakes on the cost accounting, the managers would not be able to examine the day-to-day finances of the company, the manager would not be able to make correct decisions on which areas to cut costs so as to improve profitability. When there’s a mistake in cost accounting the managers tends to make unstable financial decisions.

Accounting mistakes can happen from time to time. Learn how to avoid it with proper planning and preparation. Contact  403-519-4330 for system scanning schedule today!