Three Attributes of Organizations Considered to be Successful

ThreeAttributes of Organizations Considered to be Successful

Mostimportant attributes of an organization that can be considered to besuccessful

Allsuccessful organizations share three major attributes, includingloyalty, consistency, and trust (Bickle, 2012). Loyal customersincrease the competitiveness and the safety of the organization’sgoing concern. This is because loyal customer loyal customersguarantee the organization substantial sales during the peak and lowseasons. Organizations get customer loyalty by offering products orservices that meet their exact needs (Bagram &amp Khan, 2012).

Successfulorganizations also avoid unnecessary surprises that can affect theirrelationship with customers in a negative way. For example, asuccessful organization maintains consistency in the way they pricetheir brands, alter the image, and assort their products (Bickle,2012). Consistency makes it easy for customers to make decisionssince any changes in the brands, price, or other features are quitepredictable (Schlicht, 2010). In addition, consistency helpscustomers in benchmarking brands from different organizations.Customers tend to prefer organizations that maintain consistency tothose that do not. Consistency reinforces the identity of theorganization and enhances customer recognition. In addition,consistency is often used as a tool to differentiate an organizationfrom its competitors.

Thetrust that the stakeholders (including the employees and customers)have in a given organization is among the key determinants of thesuccess of that organization (Sarwar, Abbasi &amp Pervaiz, 2012).For example, customers are likely to remain loyal to the organizationand continue using its products if they trust that the quality thatthe organization purports to give them is real (Nguyen, Leclerc &ampLeblanc, 2013).

Whythe three attributes are likely to be displayed in oligopoly than ina monopolistic competition

Itis more likely for an organization to portray the three attributeswhen it is operating in an oligopoly than in a monopolistic market.This is because the three attributes are meant to attract customersand enhance the competitiveness of the organization. However, amonopoly does not have competitors, unlike an oligopoly that hasseveral competitors.

References

Bagram,M. &amp Khan, S. (2012). Attainment customer loyalty: The role ofcustomer attitude and customer behavior. InternationalJournal of Review of Management and Business Research,1 (1), 1-8.

Bickle,M. (2012). Threeattributes of enormously successful companies.London: Forbes.

Nguyen,N., Leclerc, A., &amp Leblanc, G. (2013). The mediating role ofcustomer trust on customer loyalty. Journalof Service Science and Management,6 (6), 96-109.

Sarwar,M., Abbasi, K., &amp Pervaiz, S. (2012). The effect of customerstrust loyalty and customers retention: A moderating role of causerelated marketing. GlobalJournal of Management and Business Research,12 (6), 1-12.

Schlicht,E. (2010). Consistency in organization. Journalof Economic Literature,52 (2), 1-19.

Scott,A. (2014). Three reasons why brand consistency is important. PulseMarketing Agency.Retrieved July 20, 2015, fromhttp://pulsemarketingagency.com/3-reasons-why-brand-consistency-is-important/