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Net
Promoter Score
Fred
Reichheld of Bain Company published a book in 1996, The
Loyalty Effect,
describing how companies can build strategic competitive advantages by
"doing right" - by your customers, your employees, and your
shareholders.
In
his book The
Ultimate Question,
he takes this a step further and boils it all down to one question:
"How
likely would you be to recommend our company to a friend?"
He
recommends a zero to ten scale and created a framework for actually
measuring customer loyalty and applying these measurements (the Net
Promoter Score, simply the equation of promoters of a brand divided by
passives and detractors) to a company's financial and operational metrics.
Case
studies of fast-growing financial service companies like HomeBanc, USAA
and Commerce Bank provide solid and realistic examples of how a financial
services company
that delivers on all fronts can drive profitable growth and value.
American
Express, Intuit, Ebay, General Electric, Harley Davidson and many other
industry leaders use NPS as a guiding measure of their ability to please
their customers. So will Arriba.
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Arriba
Corporate Values
What
attracts customers, employees and shareholders to a company? Naturally,
each of these stakeholders wants to know the answer to a basic question:
"What's in it for me?"
Our
corporate values drive our management decisions. If we can provide the
value that exceeds our stakeholders' expectations, then we can become
the world champion company that we envision. Profitable growth, high
employee morale, and shareholder value will all follow.
Integrity
Our definition of integrity is the virtue of basing actions on an
internally consistent framework of principles. We will walk the walk.
When we make a promise, we will either deliver or we will inform the
other party that we have a problem as soon as we know our commitment
can't be met. In our business dealings with customers we will always
treat them as we ourselves would wish to be treated. Our employees are
the true treasure of the company and will be treated as such, with
respect and recognition. Our vendors, lenders and shareholders will
always receive honest and straightforward communications - both good
and bad.
Honesty
Expediency based upon deceit has no place in our company. In all dealings we shall be
honest and forthright, no matter the consequences. We will refuse to
try to make a customer happy by telling them what they want to hear.
They deserve the truth. Our employee evaluations will be clear and
provide the kind of insights and suggestions that will help them
overcome their weaknesses and build on their strengths. When a
stakeholder asks a question, we will either answer it truthfully or do
what it takes to find the truth and then answer the question.
Loyalty
We will be there for our customers, our employees and our partners.
The true test of loyalty is how one acts when the chips are down -
when things turn ugly. If we expect and desire loyalty to our
customers and employees, we have to provide it in full measure. We
will make it as hard as possible for an employee or a customer to
leave our company.
Service
There is probably no virtue more lacking in today's business world
than a commitment to service. Our guiding principle is simple: Treat all as you would
wish others to treat you. The Golden Rule has worked forever, and it
is a cornerstone of our customer service program.
Excellence
Ultimately, it all boils down to excellence in execution. Our CFO,
Jim Oliver, is a big sports fan (especially when it comes to USC!)
Almost never will a conversation go by without him talking about
Arriba being the world champion financial services provider. Taking
pride in your work, wanting to do the best possible job, and helping
others unselfishly are all part of a culture of excellence.
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