University Essay: Sustainable Business Practices and Strategies

This essay examines the core purpose of a business, emphasizing customer satisfaction and retention as primary objectives. It explores the dynamic nature of customer desires and expectations, highlighting the role of strategic leaders in adapting to market changes and fostering customer loyalty. The essay delves into the significance of customer satisfaction and its impact on business performance, including the importance of customer lifetime value (CLV). It also discusses the role of strategic leaders in planning and execution and the use of tools like SWOT analysis. Furthermore, it acknowledges the importance of employee satisfaction and its influence on customer satisfaction. The essay concludes that while employee satisfaction is valuable, the ultimate goal of any business is to retain customers and generate revenue through excellent products and services.

Running head: SUSTAINABLE BUSINESS PRACTICES AND STRATEGIES
SUSTAINABLE BUSINESS PRACTICES AND STRATEGIES
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1SUSTAINABLE BUSINESS PRACTICES AND STRATEGIES
In the era of mass manufacturing and marketing, the primary purpose of a business
relies on building a customer desire in order to earn a customer. In other words, the role of a
business is to manufacture products which would not only meet the desires of the consumers
but also to produce the desires that the product will accomplish along with generating
revenue for stakeholders. The thesis statement of this argumentative essay will evaluate the
major objective and purpose of a business enterprise which lies on customer satisfaction and
retention.
A consumer is generally considered as an individual who invests on a business to
obtain products and services. The word ‘user’ is labelled to the person who accesses and
utilizes the products and services without any direct payment of the product. It must be noted
that the primary function of marketing is to exert a pull on the prospect. There lies a specific
reason behind the establishment of an organization. According to Peter Drucker, renowned
marketing consultant, foundation of any business depends on the customers who further help
in its sustainability. Entrepreneurs consider business as a fundamental part of themselves.
Business owners often fail to identify the role of the business must function in the greater
domain of ecosystem and thus the adaption is essential to flourish (Drucker, 2013). The
society produces capital resources to the production enterprise so that business can offer its
products to its customers. Strategic leaders of the business emphasize in exploration of
innovation and improved methods to address target goals, customer requirements and
expectations. Strategic leaders focus on new opportunities and chances to draw investors. The
objectives primarily centre to the ways in which strategic leaders can improve the association
of customers and stakeholders and further improve customer satisfaction and desires (Clarke,
2013). Customer satisfaction has a critical role to play in recent times; it is generally
considered as temporary. The desires and expectations of customers tend to evolve very often

2SUSTAINABLE BUSINESS PRACTICES AND STRATEGIES
which sometimes causes risks to businesses. Thus, strategic leaders must plan and implement
strategies in order to produce the most effective outcomes of the business.
Customer satisfaction and experience is regarded as provisions to the achievements of
the business. Customer satisfaction and pleasure is considered to be significant to a business
as it offers a structure to the entrepreneurs to evaluate and enhance their business
performance. In an economical and competitive market domain, businesses struggle to gather
customer satisfaction, which is regarded as a key factor to distinguish the performances
amongst competitors. Accenture reportedly identified that product price is not the primary
cause for customer churn (Cameron, 2013). The cause behind customer agitation
predominantly lied on the poor and reduced consumer service on the whole. Customer
contentment can further be executed to condense customer churn. With the measurement and
evaluating consumer satisfaction, a business enterprise can introduce unique approaches and
strategies to enhance the quality of customer facilities. Consumer satisfaction has a vital role
to play in the amount of revenue the company generates for its production. The key to
effective business production lies in understanding the significance of consumer lifetime
value (CLV). If a business improves the CLV, the business owner increases its profit
generation (Wolfe, 2011). The key role of a senior leader of an organization is to interact and
create visualization and further provide assistance to strategic planning. Leaders who have
effectively implemented strategic plans by connecting teams of all levels have led to a
productive business outcome. Fundamental responsibilities of strategic leaders or senior
management team are to evaluate and challenge the strategic direction and other vital
components of the plan. One of the common methods of internally analyzing and further
reconsider the current position of the organization and future outcomes by implementing
SWOT analysis (Crane et al., 2014).This analysis engages in identifying strengths and

3SUSTAINABLE BUSINESS PRACTICES AND STRATEGIES
potentialities as well as fundamental capabilities in commodities, resources as well as
customers.
However few critics have argued that a fundamental factor of a business is its
workforce rather than its customers. The satisfaction of customers is immensely dependable
on the employees of the company. The aspect which makes a business distinguishable from
its competitors is the performance of the workforce. This has led companies to spend millions
on the recruitment, management as well as administrative expenses of the employees. It is
believed that a business can only gather customers and further gain their satisfaction is
through the contentment level of the workforce of the business (Pantouvakis & Bouranta,
2013). Thus, employee satisfaction plays a more crucial role than customer gratification. In
order to leverage the employee value, strategic leaders must initiate strategies such as rewards
and recognition to acknowledge the employees and further enhance company morale,
productivity and thus generate profits.
Thus, from the above discussion it can be concluded that though critics have claimed
workforce as a valuable asset of their business, the primary purpose and intention of any
business depends on retaining customers, enhance their level of satisfaction through excellent
products and further earn revenues.

4SUSTAINABLE BUSINESS PRACTICES AND STRATEGIES
References
Cameron, K. (2013). Practicing positive leadership: Tools and techniques that create
extraordinary results. Berrett-Koehler Publishers.
Clarke, H. C. L. (2013). Deciding How to Decide. Harvard Business Review, Cambridge.
Crane, A., Palazzo, G., Spence, L. J., & Matten, D. (2014). Contesting the value of “creating
shared value”. California management review, 56(2), 130-153.
Drucker, P. (2013). People and performance. Routledge.
Pantouvakis, A., & Bouranta, N. (2013). The interrelationship between service features, job
satisfaction and customer satisfaction: Evidence from the transport sector. The TQM
Journal, 25(2), 186-201.
Wolfe, N. (2011). The Living Organization: Transforming Business to Create Extraordinary
Results. Encounter. Quantum Leaders Publishing.