VU VICKY Virtual University Assignment Solution, Past Papers, Handouts and other material

GDB      MGT610

Bisiness loyalty is very important in busniess practices such as

1.      Colleagues who believe in their company are more loyal and will go the extra mile for their clients. Companies with loyal colleagues require less managerial overhead and are able to trust their employees to self manage at greater levels than traditional companies.

2.      Loyalty cannot be bought and it is not a short-term concept. It is a long-term play for those who see the big picture and appreciate the idea of teamwork

3.      Loyalty represents a form of currency that all parties will oftentimes draw upon in times of need or stress.

Following are Limit that employees must remain loyal to their organizations

1.      Loyal employees contribute extensively to the productivity of your business. They are able to create the value required to put your business on the path to success. Customers are always on the lookout for value and nothing else. So, when they find value in what you offer, then you assure repeat visits.

2.      A large chunk of your company image originates from the products or services you offer. Your employees are the ones who produce the products and deliver services on your behalf. This means they carry your image squarely on their shoulders. To improve this image without spending a lot, try building loyalty in your employees.

3.      One of the most critical components of your business success is customer satisfaction. The desire to experience exceptional value again always draws the customer back to your premises. Well, only loyal employees can provide exceptional value.