Monthly archives of “December 2021

How to Build Customer Loyalty (Part I)

Customer loyalty determines the financial success of brands. If customer retention improves only by 5%, it generates a 25% to 100% increase in profits. Repeat customers also spend more and make larger transactions. The average repeat customer spends 67% more…

An Introduction to Open Strategy (Part II)

Paradoxically, open strategy faces a constant challenge due to openness – its key component: openness challenges the formation and execution of strategy because there is “a risk of dysfunctional escalation of openness”. Opening up the strategy-making process to external stakeholders…