Date Added: May 2009
In an era of rapid globalization, extreme volatility and heightened risk, maintaining a strong customer focus is essential to achieving high performance: to withstand short-term pressures while laying the groundwork for growth in the upturn. Being "customer-centric" is undeniably more difficult today. The long-term effect on consumer psychology of hard-to-quantify factors such as diminished spending power, government intervention and increased competition for share of wallet is still unknown. What is clear, however, is that there is no stepping back from globalization and the ongoing diffusion of economic power across multiple geographic markets.