Accounting II Essay Example | Topics and Well Written Essays - 250 words

Accounting II - Essay Example Due to the intense global competition factors other than price have become more important over the years. In order to retain customer companies have to provide excellent customer service and good product variety. If an important client requests a customized service or product and the company has the capabilities to comply, the firm must accommodate the customer to achieve customer retention. The stakeholders of corporations care more about the behavior of businesses. Corporate social responsibility has become a key strategic focus that is necessary to improve customer retention. At end of the 1990’s Nike Corporation lost a lot of clients due to the fact that they were involved in a sweetshop scheme oversees. Bad publicity and irresponsible acts such as the occurrence at Nike a decade ago are the types of incidents that can destroy the brand value of an enterprise. Another way to increase customer retention is to design products and services that provide greater value at a comp etitive price