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CHAPTER TWO - KARMIC CAPITALISM > SATISFYING OUR TENDENCY TOWARD THE TANGIBLE

SATISFYING OUR TENDENCY TOWARD THE TANGIBLE

Okay, you may be thinking that talking about new management philosophies, karma, pyramids, and the like is easy here in “hippie-dippy” San Francisco, from my enlightened hotel company with the funny name, but that the real world doesn’t work that way. The classrooms of graduate business schools and the corridors of Wall Street still focus on market fundamentals more than human fundamentals because business has a natural tendency toward the tangible and rewards short-term performance. Accountability, one of the keystones of business, is easier to measure when it comes to results as compared with relationships.
Recently both academicians and business leaders have been looking for ways to make the intangible, long-term values in business more tangible. Author of The Loyalty Effect, business consultant Fred Reichheld acknowledges that the “pursuit of profit dominates corporate and individual agendas, while accountability for building good relationships gets lost in the shadows.” But he goes on to say, “The growth of any organization is simply the accumulated growth of the individual relationships that constitute it.” He and his partners at Bain & Company have created a simple measurement, the “net promoter score (NPS),” that allows companies to turn the intangible of customer loyalty and the associated word-of-mouth proselytizing into something business leaders can measure. Companies as diverse as Enterprise Rent-a-Car and Intuit are using this new tool as a means of determining whether they’re building long-term rel....

  

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