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Ownership Quotient: Putting the Service Profit Chain to Work for Unbeatable Competitive Advantage | 
 enlarge | Authors: James L. Heskett, W. Earl Sasser, Joe Wheeler
Publisher: Harvard Business School Press
Category: Book
List Price: $29.95
Buy New: $14.50
You Save: $15.45 (52%)
New (35) Used (7) from $14.50
Rating:  3 reviews
Sales Rank: 67565
Media: Hardcover
Pages: 272
Number Of Items: 1
Shipping Weight (lbs): 1.2
Dimensions (in): 9.4 x 6.4 x 1.2
ISBN: 1422110230
Dewey Decimal Number: 659.1
EAN: 9781422110232
ASIN: 1422110230
Publication Date: December 8, 2008
Availability: Usually ships in 1-2 business days
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Product Description
Hundreds of large organizations worldwide have used the groundbreaking Service Profit Chain to improve business performance. Now The Ownership Quotient reveals the next generation of the chain: customer and employee "owners" of your business.
Employee-owners exhibit such enthusiasm for their organization that they infect countless customers with similar satisfaction, loyalty, and dedication. Customer-owners are in turn so satisfied with their experience that they relate their stories to others, persuade them to try your product, and provide constructive criticism and new product ideas.
As a new generation of managers has been changing the way that products and services are designed and delivered, authors Heskett, Sasser, and Wheeler have followed the evolution of this new ownership model. Case studies from companies as diverse as Harrah's Entertainment, ING Direct, Build-a-Bear Workshop, and Wegmans Food Markets bring home the central principle of engagement - and showcase ways to raise the ownership quotient among both your employees and your customers. With the authors' decades of consulting and research paving the way, you'll learn to identify your customer-owners; consistently exceed their expectations in ways they truly appreciate; and foster, measure, and grow the Ownership Quotient throughout your company.
An organization that learns how to cultivate an ownership attitude creates a self-reinforcing relationship between customers and front-line employees. The lifetime value of a customer-owner can be equivalent to that of more than a hundred typical customers. And that makes the lifetime value of an employee who can promote customer ownership priceless.
This powerful and practical book shows you how to add that value to your company and delight your employees, customers, and investors. Is your organization ready to make the transition to an ownership state of mind?
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| Customer Reviews:
Great Book December 7, 2008
Marshall Goldsmith
With The Service Profit Chain we learned about the relationship between employee satisfaction and loyalty and customer satisfaction and loyalty, the relationship between the two, and the immense benefit this relationship has to all facets of the organization. Now, with The Ownership Quotient, the authors take us beyond satisfaction and loyalty into employee and customer ownership, the OQ--a measure of effectiveness and a predictor of future performance. The advantages of this knowledge are great. The Ownership Quotient represents some of the best thinking on the subject and should be read by all!
Next Level Service Value Innovation December 6, 2008
D. B. Merrifield (Boston, Ma.)
1 out of 1 found this review helpful
Good news! The best researchers and writers in the service-value innovation space, over the past 30 years- Heskett and Sasser- have collaborated with Wheeler to take their inventions like "the service profit chain" and "the service value equation" to the next level. As a successful practitioner of the authors' past works, I urge both existing fans and anyone interested in reinventing their service value proposition to buy this book. It is well researched, written and breaks new ground.
For those unfamiliar with the authors past work, they do a nice job of summarizing the "service profit chain" (think: "people, service, profits" or: 1) attract and keep great people in order to 2) deliver great service value which delivers 3) superior results through customer retention, penetration, good pricing and word-of-mouth).
This time around the authors, who have continued to deepen and broaden their research and development, use 12 new, case-study companies for most frequent, how-to references and supporting their new, general guideline advice. Because the dandy dozen represent a robust, cross-section of service companies -retail, consumer and industrial/commercial services, lodging, technology - most readers will be quite inspired by at least 2 or more of the cases that may have especially analogous connections to your specific business experience and needs.
I think, for example, that everyone will be inspired by how Harrah's, the casino giant: identified their most profitable customers; reinvented and diagrammatically mapped a next-level, round-trip experience for them; and then continually improved their execution of the service vision to the end that the highest-lifetime-value slice of customers not only increase activity, but attracted, in 12 months, a new group of customers (most likely their best gambling friends) who's lifetime value was greater than the original customers!
The biggest value takeaway, though, is that the authors are so adept at seeing and articulating common, underlying processes, principles and practices that emerge from all of the stories. They continue to turn the seemingly random luck, art and hard work that is behind the great service company stories and turn it into scientific guidelines that can work for all of us. Some key new conceptual models, for example, are: the ownership hierarchy and mirroring between customers and employees; strategic value visions and equations for both customers and employees; cycle of capability for employees; etc.
After reading this book, I would hope that every service firm manager would decide to at least explore the author's roadmap through these steps:
1. Rank their customers by profitability
2. Identify the most profitable historical customer niche(s) and a handful of the most open and innovative customers within that niche to sign them up as "owners" to help...
3. ..better define the historical "service value equation" that you thought you were delivering to then do it better, and to..
4. ...co-create a next level of value.
5. Then, go to work on applying many of the personnel best-practices that the case study companies use for finding, hiring, keeping and motivating the best employees to make the service value vision/equation(s) happen.
The vision leads and makes the best-practices happen, because all employees can get very excited about delivering true value which they realize they substantially don't get in their own service experiences as customers. The best, in fact, get so excited that they recruit other new employees, like themselves to the company just as Harrah's best customers were compelled to recruit other folks like themselves to switch to Harrah.
If more firms in the U.S. service sector could put this book's wisdom to work, we could grow the economic-value pie for all stakeholders - customers, employees, shareholders and suppliers. The economic times demand it; put this book to work for everyone's benefit.
D. Bruce Merrifield, Jr.
www.merrifield.com
Cultivating employees and customers to act like owners November 10, 2008
F. Frei
The Service Profit Chain was revolutionary in its eloquent argument that proper management of employees is essential to creating sustained value for customers and owners. That book alluded to an aspirational state where employees and customers would act like owners - employees going the extra mile for customers and customers who not only remained loyal but also helped solicit new business and offered improvement suggestions. The Ownership Quotient is an in-depth investigation into this phenomenon, offering concrete guidance on how to cultivate this incredible behavior in employees and customers alike. To my mind, this is a must-read book for managers.
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