

- Trending Categories
Data Structure
Networking
RDBMS
Operating System
Java
iOS
HTML
CSS
Android
Python
C Programming
C++
C#
MongoDB
MySQL
Javascript
PHP
- Selected Reading
- UPSC IAS Exams Notes
- Developer's Best Practices
- Questions and Answers
- Effective Resume Writing
- HR Interview Questions
- Computer Glossary
- Who is Who
Why is feedback necessary for good business?
Every business and every company needs feedback. The question is, why is this feedback so important to run a business?
Let us look at some of the reasons why feedback is necessary for any good business:
Honest feedback helps the business grow. Based on the feedback, the entrepreneurs make changes in their strategies and work towards making their products/services better. Online businesses rely more on the feedback because it is easy for a consumer to give brutally honest feedback on the website.
It improves the customer experience/engagement. If you react to the customer feedback and solve the issue, that will give a positive publicity to your product. A satisfied customer attracts more customers to your business. Loyal and returning customers are the assets to any business.
Genuine feedback by the employees improves the employee engagement to the company. It helps the management to drill down to the questions -- Why are my employees leaving the company? Why are they not productive? What should I do to improve employee retention and cut out attrition? This will build the reputation of the company and thereby helps the management to run a successful business.
- Related Questions & Answers
- Why Intellectual Property is Crucial for Business?
- Why is pre-marital counselling necessary?
- Why is social reputation necessary for the scientific community people?
- Why Aural rendering of documents is necessary
- Why are Carrots good for your health?
- Why a mentor is necessary in life to achieve success?
- What is mundan ceremony or mundan sanskar and why is it necessary?
- C++ Program to Find a Good Feedback Edge Set in a Graph
- Add feedback icons for inputs with Bootstrap
- Why is it necessary to have a girl or boyfriend in life?
- Why is it not good to sleep on the stomach for the whole night?
- How facebook page is helpful for business
- Is drinking salty water good for health?
- Is bed-sharing good for your baby?
- Is eating sweet corn for breakfast good for health?