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Customer-Centricity
"There are ducks, and there are eagles. The
ducks run around the ground quacking all
the time, stating rules, following orders,
doing what they are told and often pecking
at other ducks. Eagles soar high above to
get the best perspective and decide what is
best for the customer."
- Ken Blanchard (Leading at a Higher Level)
“A company's primary responsibility is to serve
its customers . . . Profit is not the primary goal,
but rather an essential condition for the
company's continued existence.”
- Peter Drucker
“The alignment of systems, processes and
people to deliver products and services to
internal and external customer in the most
agile way.”
- Charteris
What is Customer-Centricity?
“Customer-centricity involves
aligning organizational resources
for effectively responding to the
ever-changing needs of
customers, while building
mutually profitable relationships.”
- Craig Bailey & Kurt Jensen
Aligning Organizational Resources
 Personnel
 Operating practices and procedures
 Systems (internal and external)
 Products and services
Aligning Personnel
• Recognizing and rewarding
customer-centric behaviour.
• Training every staff on customer-
centricity.
• Ensuring that decision-making hinges
on customers.
• Using communication tools and
techniques for highlighting the firm’s
progress in customer-centricity
Entrenching Customer-Centricity via
Training cum Internalization
Customer-centricity can be
embedded on organizational
processes through adequate
training and modeling of
interdepartmental transactions as
depiction of customer relationships
that require optimization.
Focus of Training
• Communicating effectively and
building rapport.
• Identifying and exploiting
opportunities.
• Managing complex and taxing
conversations.
• People and communication styles
Requirements for Building Mutually Profitable
Relationships
 Ascertainment of customer’s request
 Ensuring Profitability
 Find out repeatability of transaction
 Determination of feasible term of
relationship.
Voice of The Customer Process
• Obtain customer’s pulse
• Involve the customer
• Analyze information
• Socialize results
• Implement customer-focused
changes
• Respond to the Customer
How to Obtain Customer’s Pulse
Survey the Customer
Interview the Customer
Get information from customer-
facing personnel
Observe actions and behaviours
of customers
Embark on mystery shopping
Three Different Faces of a Customer
• Business decision-maker
• End-user of product or service
• Procurement function
Customer Survey
Transactional Surveys Relationship Surveys
Focuses on measuring
customer satisfaction with
individual or collection of
Interaction with firm.
Focuses on all aspects
of the firm such as
• Marketing
• Product Management
• Service and Support
• Sales/Account Management
• Engineering/Development
• Professional Services
• Training and Education
• Accounting/Finance
Survey on many individuals in
customer’s firm.
Factors that Aid Collection of Inputs from
Customer-Facing Personnel
• Environment of trust
• Establishing expectations with
personnel
• Managing anecdotes
Involving Customers
This can be done by means of the following:
1. Focus Group: For obtaining information
through discussion with a group of
participants, taking cognizance of
commonality in demographics, attitudes or
purchase patterns.
2. Customer Board of Advisors: For holding
periodic meetings with selected number of
senior executives from firm’s customer
database. Factors that determine selection of
customers include strategic importance, level
of complexity/sophistication in use of
products or service, diversity of industries
which the firm represents.
Analyzing information
Analyze customer
feedback and information
obtained
Output:
i. Positive trends
ii. Challenging trends
iii. Issues raised by customers
Compare to other
information held by the
firm
Such information include the
following:
i. Customer demographics
ii. Transactional history
This gives rise to development of customer segmentation strategy
Socialize Result
Top-level reporting
for general
awareness
Comprehensive
report for
sectional,
departmental and
project
action-planning
Steps for Implementing Customer-Focused Changes
• Getting management commitment
• Conducting cross-functional reviews
• Voice of customer tracking and reviews
• Forecasting
Key Performance Indicators Targeted for
Improvement
• Customer Satisfaction
• Customer Retention
• Churn
• Revenue and Profitability
-Overall
-By Customer Segment
-By Customer
• Product/Service Diversity By
Customer
Responding to Customers
1. Immediate Response
i. Establishment of criteria for ‘immediacy’.
ii. Implementing ‘immediacy’ team.
iii. Management reporting.
2. Responding with Account Strategies
The six steps for implementing Account Strategies:
i. Record account-specific results
ii. Involve senior management in customer
experience.
iii. Prepare for customer review meeting
iv. Engage customer in meeting
v. Inform the organization and respond
resourcefully.
vi. Continue the process
Other Methods of Updating Customers
 Newsletter
 E-mail
 Website
 E-zine
 Instituting the update as a component of firm’s
account management practices
 Using interactive sessions of forum or board of
advisors.
 Responding immediately to participants during
survey.
Common Pitfalls of CRM
 Accepted as a technical instead of business
problem
 Using a top-down approach
 Non-involvement of senior management
 Lack of focus on areas of high adoption
 Driven by IT department instead of Sales,
Marketing and Service.
 Biting more than one can chew
 Organizational unpreparedness
Feature Product-Focused Customer-Centric
Customer Orientation  Discrete transaction at a point in time
 Event-oriented marketing
 Narrow Focus
 Customer life-cycle orientation
 Work with customer to solve both immediate and
long term issues
Build customer understanding at each interaction
Solution Mindset  Narrow distribution of customer value
proposition
 Off-the-shelf products
 Top-down design
 Broad definition of customer value proposition
 Bundles that combines products, services and
knowledge
 Bottom-up, designed on the front lines
Advice Orientation  Perceived as outsider selling in
 Push product
 Transactional relationship
 Individual to individual
 Working as an insider
 Solutions focus
 Advisory relationship
 Team-based selling
Customer Interface  Centrally driven
 Limited decision-making power in field
 Incentives based on product economics and
individual performance
 Innovation and authority at the front line with
customer
Incentives based on customer economics and
team performance
Business Processes  “One size fits all” processes
 Customization adds complexity
 Tailored business streams
 Balance between customization and complexity
Complexity isolated within the system
Organizational Linkages
& Metrics
 Rigid organizational boundaries
 Organizational silos control resources
 Limited trust across organizational
boundaries
 Cross-organizational teaming
 Joint credit
High degree of organizational trust
From Product-Focused to Customer Centric Firm
Source: Booz Allen Hamilton
Solutions Advance Customer Value Proposition
Source: Booz Allen Hamilton
Industry
Traditional
Traditional = Value
Product Proposition
Truck
Manufacturing
 Trucks “We sell and service
trucks”
Aerospace
Components
 Aerospace
Fasteners
“We sell high-
performance fasteners”
Utilities Electricity “We provide electricity
reliability”
Chemicals  Lubricants “We sell a wide range of
lubricants”
Pharmaceuticals  Drugs “We sell pharmaceuticals”
Value-Added Customer-Centric
+ Services = Value Proposition
 Financing
 Service
“We can help you reduce
life-cycle transportation
costs”
 Application/Design
support
“We can reduce your
operational costs”
 Energy asset
maintenance
“We can help you reduce
total energy costs”
 Usage and
application design
 Lubricant analysis
“We can increase your
machine performance and
up-time”
 Product support
 Outcomes-driven
information database
“We can help you better
manage your patient base”
Developing Customer-Centric Culture
Put employees in the customers’ shoes
Put employees in the shoes of a particular
colleague
Review your habits and attitude
Be evaluated in a 360-degree approach by
colleagues you frequently deal with
(through a random selection.
“Being a customer centric company can’t feel
contrived; it has to feel normal. It requires a
concerted effort by the entire company: All of
its activities and all of its results must be
focused on the customers’ explicit and implicit
goals.”
- Jonathan Narducci
“In today’s commercial environment, the customer
relationship cannot be commodified. Companies must
continuously renew their commitment—and strengthen
their capabilities—for knowing and reaching the
customer, and delivering an experience tailored to the
needs, values and preference of target segments.
Engaging purposefully with the multi-polar world by
mastering these core principles of customer centricity—
know, reach and deliver—should be a key element of a
consumer enterprise’s current response to the
downturn, and a key element in part positioning the
business for long-term benefit.”
- Accenture, Customer-Centricity Principles for Acquiring Customers in Today’s Multi-polar World
Customer-Centricity as a culture must integrate
both cognizance and ratification of internal
and external customers in order to
synchronize workable behavioural acceptation
in every facet of a firm’s interaction sphere.
“Customer - centricity needs to come from the
inside out………….Leadership must avoid a
double standard that makes it OK for
managers to argue with or demean staff while
still being courteous and considerate to
external customers.”
- Elaine Berke
What is Customer Advocacy?
It’s a cross-functional role empowered to
marshal organizational resources to
resolve troublesome customer issues and
identify root cause while balancing the
financial realities and strategic goals of
the company.
The Need for Customer Advocacy Function
To steer customers away from veiled
gaps, inefficiencies and
organizational complexities that
perturb perception, thereby
managing “customer experience”
effectively.
Key Skills for Customer Advocates
 Straight-forward and honest
 Interpersonal management and
communication
 Good business sense and judgment
 Organizational navigation
 Executive Presence
 Time management
 Project management
Customer Advocacy Process Framework
 Customer segmentation
 Engagement process
 Escalation process
 Response planning, analysis and
execution
 Managing customer experience through
resolution
 Internal management review
Factors to Consider When Crafting Message
 Ensure your communication stands
alone
 Consider the audience
 Read it “as if” you were the recipient
 Acknowledge the “bigger picture”
 Special handling procedures when
emotionally charged
Do’s of Customer Centricity Don’ts of Customer Centricity
1. Adjust your mission and vision statement Expect a brand new mission statement to make
you a customer-centric company
2. Segment your customer base Overcomplicate the segmentation
3. Align your organization structure with the
segmented customer view
Reorganize too often and for the sake of it
4. Make good use of technology Expect technology to build customer
relationships for you
5. Create new performance measures Throw out the old performance measures
6. Study the behaviours, attitudes and
demographics of your customers
Confuse behaviours and attitudes with needs
7. Try to understand the true value of your
customers
Rely on the customers past buying patterns
8. Empower employees, particularly customer-
facing staff for proactive relationship-building
Allow anyone in the company to say (or think)
“this is not my job/responsibility”
9. Set clear goals for achieving a defined state
of customer centricity by a certain point in time
Assume that your project/ programme were
completed, you ‘got there’
10. Encourage and seek to create customer
loyalty
Think of loyalty as the tenure of a customer
(duration of the relationship)
11. Communicate and engage all stakeholders
in the process
Limit your change management efforts to the
marketing, sales and customer service functions
The Seven Characteristics of Customer-Centric Companies
i. They conceive of themselves not as a group of products, services, territories, or
functions, but as a portfolio of customers.
ii. They know how much money they make or lose with each of their customers or
customer segments, and they understand why.
iii. They understand the different needs of different customers and group them into
operational customer segments and sub-segments based on common needs.
They thrill their customers by delivering knockout value propositions that
competitors cannot match.
iv. They continually innovate by evolving their customer segments and sub-
segments, and improve their value propositions as customer needs change.
v. They organize their businesses into customer segment business units to
establish clear ownership of the customer experience and accountability for the
financial performance of each customer business unit.
vi. They create a competitively unassailable customer innovation advantage based
on a customer R&D model grounded in continual experimentation at key
customer touch points.
vii. They understand in precise analytic terms exactly how their different customer
relationships contribute to or subtract from the total value of the firm; because
they manage their customer portfolio on this basis, they know what to manage
and where to invest in order to create sustainable, profitable growth and drive
outstanding share price performance over time.
Source: Wharton Business School
“Managers like profits just as much as shareholders
do, because the more profits the firm makes, the
more money is available to pay managers. In
other words, the need for a healthy share price is
a natural constraint on any other objective you
set. Making it the prime objective, however,
creates the temptation to trade long-term gains
in operations-driven value away for temporary
gains in expectations-driven value. To get CEOs
to focus on the first, we need to reinvent the
purpose of the firm. This is what customer-centric
capitalism is all about.”
- Irving Wladawsky-Berger
Dr Elijah Ezendu is Award-Winning Business Expert & Certified Management Consultant with expertise
in Interim Management, Strategy, Competitive Intelligence, Transformation, Restructuring, Turnaround
Management, Business Development, Marketing, Project & Cost Management, Leadership, HR, CSR, e-
Business & Software Architecture. He had functioned as Founder, Initiative for Sustainable Business
Equity; Chairman of Board, Charisma Broadcast Film Academy; Group Chief Operating Officer, Idova
Group; CEO, Rubiini (UAE); Special Advisor, RTEAN; Director, MMNA Investments; Chair, Int’l Board of
GCC Business Council (UAE); Senior Partner, Shevach Consulting; Chairman (Certification & Training),
Coordinator (Board of Fellows), Lead Assessor & Governing Council Member, Institute of Management
Consultants, Nigeria; Lead Resource, Centre for Competitive Intelligence Development; Lead
Consultant/ Partner, JK Michaels; Turnaround Project Director, Consolidated Business Holdings Limited;
Technical Director, Gestalt; Chief Operating Officer, Rohan Group; Executive Director (Various Roles),
Fortuna, Gambia & Malta; Chief Advisor/ Partner, D & E; Vice Chairman of Board, Refined Shipping;
Director of Programmes & Governing Council Member, Institute of Business Development, Nigeria;
Member of TDD Committee, International Association of Software Architects, USA; Member of Strategic
Planning and Implementation Committee, Chartered Institute of Personnel Management of Nigeria;
Country Manager (Nigeria) & Adjunct Faculty (MBA Programme), Regent Business School, South Africa;
Adjunct Faculty (MBA Programme), Ladoke Akintola University of Technology; Editor-in-Chief, Cost
Management Journal; Council Member, Institute of Internal Auditors of Nigeria; Member, Board of
Directors (Several Organizations). He holds Doctoral Degree in Management, Master of Business
Administration and Fellow of Professional Institutes in North America, UK & Nigeria. He is Innovator of
Corporate Investment Structure Based on Financials and Intangibles, for valuation highlighting
intangible contributions of host communities and ecological environment: A model celebrated globally
as remedy for unmitigated depreciation of ecological capital and developmental deprivation of host
communities. He had served as Examiner to Professional Institutes and Universities. He had been a
member of Guild of Soundtrack Producers of Nigeria. He's an author and extensively featured speaker.
Thank You

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Customer Centricity

  • 2. "There are ducks, and there are eagles. The ducks run around the ground quacking all the time, stating rules, following orders, doing what they are told and often pecking at other ducks. Eagles soar high above to get the best perspective and decide what is best for the customer." - Ken Blanchard (Leading at a Higher Level)
  • 3. “A company's primary responsibility is to serve its customers . . . Profit is not the primary goal, but rather an essential condition for the company's continued existence.” - Peter Drucker
  • 4. “The alignment of systems, processes and people to deliver products and services to internal and external customer in the most agile way.” - Charteris
  • 5. What is Customer-Centricity? “Customer-centricity involves aligning organizational resources for effectively responding to the ever-changing needs of customers, while building mutually profitable relationships.” - Craig Bailey & Kurt Jensen
  • 6. Aligning Organizational Resources  Personnel  Operating practices and procedures  Systems (internal and external)  Products and services
  • 7. Aligning Personnel • Recognizing and rewarding customer-centric behaviour. • Training every staff on customer- centricity. • Ensuring that decision-making hinges on customers. • Using communication tools and techniques for highlighting the firm’s progress in customer-centricity
  • 8. Entrenching Customer-Centricity via Training cum Internalization Customer-centricity can be embedded on organizational processes through adequate training and modeling of interdepartmental transactions as depiction of customer relationships that require optimization.
  • 9. Focus of Training • Communicating effectively and building rapport. • Identifying and exploiting opportunities. • Managing complex and taxing conversations. • People and communication styles
  • 10. Requirements for Building Mutually Profitable Relationships  Ascertainment of customer’s request  Ensuring Profitability  Find out repeatability of transaction  Determination of feasible term of relationship.
  • 11. Voice of The Customer Process • Obtain customer’s pulse • Involve the customer • Analyze information • Socialize results • Implement customer-focused changes • Respond to the Customer
  • 12. How to Obtain Customer’s Pulse Survey the Customer Interview the Customer Get information from customer- facing personnel Observe actions and behaviours of customers Embark on mystery shopping
  • 13. Three Different Faces of a Customer • Business decision-maker • End-user of product or service • Procurement function
  • 14. Customer Survey Transactional Surveys Relationship Surveys Focuses on measuring customer satisfaction with individual or collection of Interaction with firm. Focuses on all aspects of the firm such as • Marketing • Product Management • Service and Support • Sales/Account Management • Engineering/Development • Professional Services • Training and Education • Accounting/Finance Survey on many individuals in customer’s firm.
  • 15. Factors that Aid Collection of Inputs from Customer-Facing Personnel • Environment of trust • Establishing expectations with personnel • Managing anecdotes
  • 16. Involving Customers This can be done by means of the following: 1. Focus Group: For obtaining information through discussion with a group of participants, taking cognizance of commonality in demographics, attitudes or purchase patterns. 2. Customer Board of Advisors: For holding periodic meetings with selected number of senior executives from firm’s customer database. Factors that determine selection of customers include strategic importance, level of complexity/sophistication in use of products or service, diversity of industries which the firm represents.
  • 17. Analyzing information Analyze customer feedback and information obtained Output: i. Positive trends ii. Challenging trends iii. Issues raised by customers Compare to other information held by the firm Such information include the following: i. Customer demographics ii. Transactional history This gives rise to development of customer segmentation strategy
  • 18. Socialize Result Top-level reporting for general awareness Comprehensive report for sectional, departmental and project action-planning
  • 19. Steps for Implementing Customer-Focused Changes • Getting management commitment • Conducting cross-functional reviews • Voice of customer tracking and reviews • Forecasting
  • 20. Key Performance Indicators Targeted for Improvement • Customer Satisfaction • Customer Retention • Churn • Revenue and Profitability -Overall -By Customer Segment -By Customer • Product/Service Diversity By Customer
  • 21. Responding to Customers 1. Immediate Response i. Establishment of criteria for ‘immediacy’. ii. Implementing ‘immediacy’ team. iii. Management reporting. 2. Responding with Account Strategies The six steps for implementing Account Strategies: i. Record account-specific results ii. Involve senior management in customer experience. iii. Prepare for customer review meeting iv. Engage customer in meeting v. Inform the organization and respond resourcefully. vi. Continue the process
  • 22. Other Methods of Updating Customers  Newsletter  E-mail  Website  E-zine  Instituting the update as a component of firm’s account management practices  Using interactive sessions of forum or board of advisors.  Responding immediately to participants during survey.
  • 23. Common Pitfalls of CRM  Accepted as a technical instead of business problem  Using a top-down approach  Non-involvement of senior management  Lack of focus on areas of high adoption  Driven by IT department instead of Sales, Marketing and Service.  Biting more than one can chew  Organizational unpreparedness
  • 24. Feature Product-Focused Customer-Centric Customer Orientation  Discrete transaction at a point in time  Event-oriented marketing  Narrow Focus  Customer life-cycle orientation  Work with customer to solve both immediate and long term issues Build customer understanding at each interaction Solution Mindset  Narrow distribution of customer value proposition  Off-the-shelf products  Top-down design  Broad definition of customer value proposition  Bundles that combines products, services and knowledge  Bottom-up, designed on the front lines Advice Orientation  Perceived as outsider selling in  Push product  Transactional relationship  Individual to individual  Working as an insider  Solutions focus  Advisory relationship  Team-based selling Customer Interface  Centrally driven  Limited decision-making power in field  Incentives based on product economics and individual performance  Innovation and authority at the front line with customer Incentives based on customer economics and team performance Business Processes  “One size fits all” processes  Customization adds complexity  Tailored business streams  Balance between customization and complexity Complexity isolated within the system Organizational Linkages & Metrics  Rigid organizational boundaries  Organizational silos control resources  Limited trust across organizational boundaries  Cross-organizational teaming  Joint credit High degree of organizational trust From Product-Focused to Customer Centric Firm Source: Booz Allen Hamilton
  • 25. Solutions Advance Customer Value Proposition Source: Booz Allen Hamilton Industry Traditional Traditional = Value Product Proposition Truck Manufacturing  Trucks “We sell and service trucks” Aerospace Components  Aerospace Fasteners “We sell high- performance fasteners” Utilities Electricity “We provide electricity reliability” Chemicals  Lubricants “We sell a wide range of lubricants” Pharmaceuticals  Drugs “We sell pharmaceuticals” Value-Added Customer-Centric + Services = Value Proposition  Financing  Service “We can help you reduce life-cycle transportation costs”  Application/Design support “We can reduce your operational costs”  Energy asset maintenance “We can help you reduce total energy costs”  Usage and application design  Lubricant analysis “We can increase your machine performance and up-time”  Product support  Outcomes-driven information database “We can help you better manage your patient base”
  • 26. Developing Customer-Centric Culture Put employees in the customers’ shoes Put employees in the shoes of a particular colleague Review your habits and attitude Be evaluated in a 360-degree approach by colleagues you frequently deal with (through a random selection.
  • 27. “Being a customer centric company can’t feel contrived; it has to feel normal. It requires a concerted effort by the entire company: All of its activities and all of its results must be focused on the customers’ explicit and implicit goals.” - Jonathan Narducci
  • 28. “In today’s commercial environment, the customer relationship cannot be commodified. Companies must continuously renew their commitment—and strengthen their capabilities—for knowing and reaching the customer, and delivering an experience tailored to the needs, values and preference of target segments. Engaging purposefully with the multi-polar world by mastering these core principles of customer centricity— know, reach and deliver—should be a key element of a consumer enterprise’s current response to the downturn, and a key element in part positioning the business for long-term benefit.” - Accenture, Customer-Centricity Principles for Acquiring Customers in Today’s Multi-polar World
  • 29. Customer-Centricity as a culture must integrate both cognizance and ratification of internal and external customers in order to synchronize workable behavioural acceptation in every facet of a firm’s interaction sphere.
  • 30. “Customer - centricity needs to come from the inside out………….Leadership must avoid a double standard that makes it OK for managers to argue with or demean staff while still being courteous and considerate to external customers.” - Elaine Berke
  • 31. What is Customer Advocacy? It’s a cross-functional role empowered to marshal organizational resources to resolve troublesome customer issues and identify root cause while balancing the financial realities and strategic goals of the company.
  • 32. The Need for Customer Advocacy Function To steer customers away from veiled gaps, inefficiencies and organizational complexities that perturb perception, thereby managing “customer experience” effectively.
  • 33. Key Skills for Customer Advocates  Straight-forward and honest  Interpersonal management and communication  Good business sense and judgment  Organizational navigation  Executive Presence  Time management  Project management
  • 34. Customer Advocacy Process Framework  Customer segmentation  Engagement process  Escalation process  Response planning, analysis and execution  Managing customer experience through resolution  Internal management review
  • 35. Factors to Consider When Crafting Message  Ensure your communication stands alone  Consider the audience  Read it “as if” you were the recipient  Acknowledge the “bigger picture”  Special handling procedures when emotionally charged
  • 36. Do’s of Customer Centricity Don’ts of Customer Centricity 1. Adjust your mission and vision statement Expect a brand new mission statement to make you a customer-centric company 2. Segment your customer base Overcomplicate the segmentation 3. Align your organization structure with the segmented customer view Reorganize too often and for the sake of it 4. Make good use of technology Expect technology to build customer relationships for you 5. Create new performance measures Throw out the old performance measures 6. Study the behaviours, attitudes and demographics of your customers Confuse behaviours and attitudes with needs 7. Try to understand the true value of your customers Rely on the customers past buying patterns 8. Empower employees, particularly customer- facing staff for proactive relationship-building Allow anyone in the company to say (or think) “this is not my job/responsibility” 9. Set clear goals for achieving a defined state of customer centricity by a certain point in time Assume that your project/ programme were completed, you ‘got there’ 10. Encourage and seek to create customer loyalty Think of loyalty as the tenure of a customer (duration of the relationship) 11. Communicate and engage all stakeholders in the process Limit your change management efforts to the marketing, sales and customer service functions
  • 37. The Seven Characteristics of Customer-Centric Companies i. They conceive of themselves not as a group of products, services, territories, or functions, but as a portfolio of customers. ii. They know how much money they make or lose with each of their customers or customer segments, and they understand why. iii. They understand the different needs of different customers and group them into operational customer segments and sub-segments based on common needs. They thrill their customers by delivering knockout value propositions that competitors cannot match. iv. They continually innovate by evolving their customer segments and sub- segments, and improve their value propositions as customer needs change. v. They organize their businesses into customer segment business units to establish clear ownership of the customer experience and accountability for the financial performance of each customer business unit. vi. They create a competitively unassailable customer innovation advantage based on a customer R&D model grounded in continual experimentation at key customer touch points. vii. They understand in precise analytic terms exactly how their different customer relationships contribute to or subtract from the total value of the firm; because they manage their customer portfolio on this basis, they know what to manage and where to invest in order to create sustainable, profitable growth and drive outstanding share price performance over time. Source: Wharton Business School
  • 38. “Managers like profits just as much as shareholders do, because the more profits the firm makes, the more money is available to pay managers. In other words, the need for a healthy share price is a natural constraint on any other objective you set. Making it the prime objective, however, creates the temptation to trade long-term gains in operations-driven value away for temporary gains in expectations-driven value. To get CEOs to focus on the first, we need to reinvent the purpose of the firm. This is what customer-centric capitalism is all about.” - Irving Wladawsky-Berger
  • 39. Dr Elijah Ezendu is Award-Winning Business Expert & Certified Management Consultant with expertise in Interim Management, Strategy, Competitive Intelligence, Transformation, Restructuring, Turnaround Management, Business Development, Marketing, Project & Cost Management, Leadership, HR, CSR, e- Business & Software Architecture. He had functioned as Founder, Initiative for Sustainable Business Equity; Chairman of Board, Charisma Broadcast Film Academy; Group Chief Operating Officer, Idova Group; CEO, Rubiini (UAE); Special Advisor, RTEAN; Director, MMNA Investments; Chair, Int’l Board of GCC Business Council (UAE); Senior Partner, Shevach Consulting; Chairman (Certification & Training), Coordinator (Board of Fellows), Lead Assessor & Governing Council Member, Institute of Management Consultants, Nigeria; Lead Resource, Centre for Competitive Intelligence Development; Lead Consultant/ Partner, JK Michaels; Turnaround Project Director, Consolidated Business Holdings Limited; Technical Director, Gestalt; Chief Operating Officer, Rohan Group; Executive Director (Various Roles), Fortuna, Gambia & Malta; Chief Advisor/ Partner, D & E; Vice Chairman of Board, Refined Shipping; Director of Programmes & Governing Council Member, Institute of Business Development, Nigeria; Member of TDD Committee, International Association of Software Architects, USA; Member of Strategic Planning and Implementation Committee, Chartered Institute of Personnel Management of Nigeria; Country Manager (Nigeria) & Adjunct Faculty (MBA Programme), Regent Business School, South Africa; Adjunct Faculty (MBA Programme), Ladoke Akintola University of Technology; Editor-in-Chief, Cost Management Journal; Council Member, Institute of Internal Auditors of Nigeria; Member, Board of Directors (Several Organizations). He holds Doctoral Degree in Management, Master of Business Administration and Fellow of Professional Institutes in North America, UK & Nigeria. He is Innovator of Corporate Investment Structure Based on Financials and Intangibles, for valuation highlighting intangible contributions of host communities and ecological environment: A model celebrated globally as remedy for unmitigated depreciation of ecological capital and developmental deprivation of host communities. He had served as Examiner to Professional Institutes and Universities. He had been a member of Guild of Soundtrack Producers of Nigeria. He's an author and extensively featured speaker.