Customer Loyalty at Ritz Carlton Hotel Essay Example | Topics and Well Written Essays - 500 words

Customer Loyalty at Ritz Carlton Hotel - Essay Example In his study, customer loyalty is associated will the kind of treated and services they receive. Customer loyalty is therefore seen with respect to how a customer responds to the products and services presented by the company (Lawfer 11). In Ritz Carlton industry, customer loyalty means the creation of customer satisfaction through creation of culture where customer needs is given priority through provision of high quality of products and services and good personal services by the employees of the company. He does this by making sure that the customer is made to feel valued by the company. However, as Andreassen and Lindestad state, customer loyalty is dependent on corporate image and the disconfirmation of expectations. Therefore, a company with good corporate image which puts the interests of its customers first is likely to win customer loyalty. In Ritz Carlton, a loyal customer has a lifetime worth of $ 1 million. According to Carflton, a loyal customer will try to sell a company to other customers luring them to it and that is why they are priced highly as opposed to a disloyal customer who will try to paint your company in a negative way. In Ritz Carlton`s hotel, customer satisfaction if given priority as the employees are empowered to use huge amounts of money as long as their motive is to satisfy their customers and make them happy. When a customer realizes that all her needs have been catered for in the hotel, their desire to come back for more service is boosted. The management also hires only those employees who are able and knowledgeable in meeting customer demand. Customer needs are given priority through customer orientation as they are made to feel valued. The company retains its customers through provision of high quality products and services. Ritz Carlton hotel builds customer relationships by ensuring that well trained and reputable employees are hired. The employees are trained to be customer focused and are required to

Does income inequality hurt economic growth Term Paper

Does income inequality hurt economic growth - Term Paper Example The essay further applies the Lorenz Curves model in investigating income distribution in Nigeria and KSA. A deep Lorenz curve implies high level of income inequality in a country. That is the case of Nigeria and KSA. Over the past generations, concern about rising or high-income inequality curtailed primarily from a credence that it is one-sided. In the contemporary world, however, the sources of concern have shifted. The leading concern now is whether income inequality can hurt economic growth. Similarly, income inequality can also have harmful effects on the outcomes people value, such as education, health, happiness, democracy and many other elements that have direct impacts on economic growth. Current studies indicate that income inequality does not only affect people at the bottom but also affects the nation as a whole. The studies explain that the growing income inequality may be the reason that inhibits economies from recovering from the excessive recession. As per a report by OECD, inequality slackens GDP growth through hindering the accumulation of human capital. This trend hurts long-term economic prospects, as well as educational outcomes for persons on the lesser section of a nation’s income ladder. In its recommendation, the report suggests a check-up against this propensity by capitalizing in education and health (OECD, 2015, p. 1). It also calls for a more direct method of assistance to help reduce inequality without hurting economic growth. Furthermore, OECD established that direct cash transfers may not slow down the growth of GDP when these policies are smartly designed, as well as implemented. Depiction based on harmonised data that cover the OECD nations over the past three decades, the econometric analysis submits that income inequality possesses a negative, as well as statistically significant influence on succeeding growth. In specific, the greatest issue is the breach between small income households and the better