Role of Corporate Governance in Implementing Accountability for Eliminating Customer Satisfaction Issues

Corporate strategy part 2
(Role of corporate governance in
implementing accountability for eliminating
customer satisfaction issues)
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Contents
Introduction, Background and review of the problem faced...........................................................3
1.1 Overview of research.............................................................................................................3
1.2 Background of research.........................................................................................................4
1.2 Research aims and objectives................................................................................................4
1.3 Outline of methodology.........................................................................................................5
1.4 Research rational...................................................................................................................5
Literature Review.............................................................................................................................6
2.1 Chapter Overview..................................................................................................................6
2.2- Theme 1: Explain importance of accountability in offering services to customers?...........6
2.3- Theme 2: What is the role of corporate governance in developing loyal customers for Top
Deck Travel?................................................................................................................................7
2.4- Theme 3: What are the several factors that lead to intensify in customer satisfaction
issues?..........................................................................................................................................8
2.5- Theme 4: Explain relationship between maintaining accountability in corporate
governance and enhancement of customer satisfaction?.............................................................9
2.6 Research framework and Hypothesis....................................................................................9
Research Framework...............................................................................................................9
Hypothesis...............................................................................................................................9
2.7 Conclusion...........................................................................................................................10
Discussion of primary and secondary research undertaken...........................................................10
3.1 Chapter Overview................................................................................................................10
3.2 Research Philosophy and justification.................................................................................11
3.3 Research Approach and justification...................................................................................11
3.4 Research method/Strategy and justification........................................................................11
3.5 Research Choice and justification.......................................................................................12
3.5 Data collection method and justification.............................................................................12
3.5.1 Sampling.......................................................................................................................12
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3.6 Research instruments...........................................................................................................13
3.7 Data analysis Method..........................................................................................................14
3.8 Ethical consideration...........................................................................................................14
Critical review of the results of the research.................................................................................15
Recommendation and action plan..................................................................................................26
Recommendation...........................................................................................................................26
Conclusion.....................................................................................................................................27
REFERENCES..............................................................................................................................27
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Introduction, Background and review of the problem faced
Corporate governance is comprehensively said to be as the integration of rules, regulations,
laws and processes that are being used while operating the businesses activities. It is also being
used with the motive of controlling and regulating all activities in rightful manner (Rivera,
Bigne, and Curras-Perez, 2016). It has also been acknowledged that corporate governance
supports business organisations in enhancing their sustainability at marketplace by simply
helping supporting them in implementing their business activities in such a manner that does not
create any kind of legal obligation in the near future. Accountability, independence, fairness and
transparency are acknowledged as the main four pillars of corporate governance which is
ultimately placing equivalent contribution in developing strong relationship with the customers
by simply satisfying their needs and requirements. By making use of these pillars business
association can easily improvise customers’ relationship that would contribute in enhancing their
sustainability at marketplace in rightful manner. The present investigation is based on Top Deck
Travel, a tour operator company which generally organizes trips for people belonging to the age
group of 18 – 39 years old people. These trips are generally Europe, North America, Africa,
Egypt and the Middle East, Australia, New Zealand, and Asia. Along with this, the company also
offers almost 330 tours in 65 nations. This investigation will be based on specified research aim,
objectives and questions that will provide adequate guidance to the investigator in determining
valuable research outcome towards the research issue. Also, both the primary and secondary
form of investigation would be conducted for obtaining valid conclusion by simply covering
each and every aspect related to it.
1.1 Overview of research
Corporate governance is acknowledged as the effective initiative taken by the business
associations through which they can easily execute their business activities without any sort of
legal obligations in the near future (Kiliç, Kuzey and Uyar, 2015). It has been seen that if
corporate governance is effectively used by business organisations then they can easily eliminate
the issues which are placing major influence over the customer satsifaction level. In addition to
this, it has also been seen that if any of pillars such as Accountability, fairness, independence and
transparency of the corporate governance is missing in the business entity then it directly places
major influence over the customers satisfaction level as they won’t be able to trust the company
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in any manner. It has been analysed that there are various reasons which might place influence
over working pattern of employees as well as management. This directly develops range of
issues at workplace which ultimately affects customers’ satisfaction level as they are not able to
serve the customers in expected manner (Saeidi, and et.al., 2015). It has also been analysed that
the business organisation often takes several initiatives with the motive of enhancing customers’
satisfaction level and influencing them to stay loyal with the same entity for longer period of
time. With reference to the travel and tourism sector, it can be further said that customer
satisfaction is the preliminary motive of the business dealing within it. Thus, this research will
cover information about the corporate governance that would definitely help them out in
accomplishing their motive of rectifying customer satisfaction issues which would definitely
support the company and also contribute in maximising their profitability within the same.
1.2 Background of research
There are many reasons which might influence customers’ satisfaction level. These issues
can be related to anything such as higher prices of product and service, indulgence of company
into any type of illegal issue, delay in services, misbehaviour with the customers or many other
associated reasons. With reference to the present investigation, it can be said that business
association which are dealing in travel and tourism industry are required to offer high quality
services to the customers’ and incorporate corporate governance within their company so that
they can easily eliminate the issues related to the customer satisfaction. As a result, it supports
business organisation in enhance their sustainability within the same nation in rightful manner. In
context of Top Deck Travel, it has been analysed that the respective top management of the
company have analysed that issues which are affecting customer satisfaction level are increasing
day by day within their company (Uyar, Gungormus, and Kuzey, 2017). In order to address
them effectively they simply emphasizes on conducting effective research with which they can
easily find out the best possible way of eliminating the issues that might influence customers
satisfaction level. For this, the management team have hired investigator who would perform
research on the same issue and find out proposed solution towards the same by simply including
both the primary and secondary research into it.
1.2 Research aims and objectives
Research aim:
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Main aim of this research is “To determine the role of corporate governance in implementing
accountability for eliminating customer satisfaction issues” A case study on Top Deck Travel.
Research Objectives
 To ascertain importance of accountability in offering services to customers
 To ascertain role of corporate governance in emerging loyal customers for Top Deck
Travel
 To determine several factors that leads to intensify customer satisfaction issues
 To explore relation between maintaining accountability in corporate governance and
enhancement of customer satisfaction.
1.3 Outline of methodology
Research methodology is important part for completing full project effectively. There are
different methods that will be used within a research project such as positivism research
philosophy, deductive approach, questionnaire, quantitative research etc. All these are effective
and useful for investigator in gathering of appropriate information regarding the current topic.
1.4 Research rational
The preliminary purpose of conducting this is investigation is the personal interest of the
investigator on towards the topic that is role of corporate governance in implementing
accountability for eliminating customer satisfaction issues (Yeo, Thai and Roh, 2015). Also,
the investigator wishes to develop their own skills and knowledge related to the research which
would definitely help them out in conducting more effective research in the near future. Also,
outcome developed with this investigation would enhance knowledge of businesses dealing in
travel and tourism industry about the corporate governance and its usage in implementing
accountability for eliminating customer satisfaction issues
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Literature Review
2.1 Chapter Overview
Literature review can be describe as analysis and evaluation of different topic for other
point of view. This is significant and effective process that needs to be consider by a researcher
while collecting information and details about different topics (Bhaduri and Selarka, 2016).
This includes search and analysis of available literature regarding chosen topic for better
decision making. Study of literature review will help researcher to collect information from
existing and available sources of information. This can be consider as secondary method of data
collection process in order to determine different aspects and information through books,
journals or internet. This is helpful in critically analysing topic and better decision making in
order to improve understanding about that topic and taking correct decision form research.
2.2- Theme 1: Explain importance of accountability in offering services to customers?
According to Douglas Hanna (2020), Accountability is management process that as your
staff members answer to Superior for their actions and supervises behaves responsibility. The
accountable staff members are helpful to enhance performance level of business as hole in
maintaining the positive culture of company, ethics and values. Accountability in the customer’s
services is ability of company to account for business actions as well as decisions. Their main
focus is on developing the trust of customers for customer service representative. Under this, the
employees are accepting their responsibilities for actions and accountable for providing the
answers to outcomes (Accountability in customer service, 2020). Under this, it is the
responsibilities of staff members should provide the high quality of services to customers and
also resolve their query so that they can get the better customer experience regarding the product
and services and also company (Font, Guix and Bonilla-Priego, 2016). It is necessary to
employees to provide the service level to the customers so that they can be satisfied from the
services of company and also be loyal towards its. On the other hand, there is a need to
employees to focus on providing the timely personal assistants to the employees. There is any
issue faced by the customers regarding the product and services then it is a responsibility of
employees to resolve their queries or issue quickly.
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2.3- Theme 2: What is the role of corporate governance in developing loyal customers for Top
Deck Travel?
As per opinion of.. Corporate governance seems to be the combination of rules, procedures
or laws that run, oversee or monitor businesses. Corporate governance term encompasses internal
and external factors, including shareholders, suppliers, customers, government agencies and
management, affecting interests of company interests of shareholders. Consumer loyalty benefits
from consistently pleasant emotional experience, physical satisfaction and the perceived
importance of a goods or brand (Kim and et.al., 2017). The corporate governance is helpful in
developing as well as enhancing loyalty of customers with Top Deck Travel. It has been
determined that corporate governance play crucial and critical role for increase loyalty of
customer with respective company as well as developing strong relationship with customers.
Role of corporate governance in developing loyalty of customer is mention below –
Developing better strategies – Corporate governance is the crucial part of organisation that is
significant for managing social and institutional aspects of business. This play essential role in
creation and development of better and effective strategies. This will help Top Deck Travel
organisation to create and develop strong business strategies which is accurate for increasing
loyalty of customers towards respective company. Role of corporate governance will help
respective organisation to attract more and more customer towards company and implement
strategies in such as manner the needs and wants of customer is achieved.
Increasing performance – It has been determined that corporate governance play critical role in
enhancing performance of employees as well as overall capability of respective company will be
increased. By improving employees performance Top Deck Travel company will be able to
meet with the needs and requirement of customer. The role of corporate governance of respective
company will be very supportive in enhancing loyalty of customers towards respective company.
Conducting social responsibility – Corporate governance of Top Deck Travel company is
focusing on enhancing social responsibility of company towards society and citizens. This play
crucial role in attracting customer as well as developing strong brand image of respective
company is market area. It has been determined that by conducting social activities in effective
and efficient manner Top Deck Travel company will be able to increase its brand image in
market area. This will lead to have significant impact on improving loyalty of customers towards
business.
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