Method and system to manage achieving an objective

#The present invention relates to managing objectives, such as business objectives or the like and more particularly to a method and system to manage achieving an objective, such as customer satisfaction, delight or the like.

#In many industries, there is significant competition for customers. This includes attracting new customers and retaining current customers. This is particularly true in the banking industry as well as other service sector businesses where customer satisfaction or delight is important. A dissatisfied customer is highly unlikely to recommend the business or service to others and may even take his business to a competitor. Worse, a dissatisfied customer could spread “negative word-of-mouth” to other potential customers. Additionally, retained customers tend to be less expensive to service. Therefore, a customer who is delighted stays longer with a service provider, generates more income and costs less which will lead to increased net present value over time.

#Many businesses pay little attention to customer satisfaction or delight, and if they do, predicting customer satisfaction is little more than guess work. The results are rarely based on sound analysis and targeted initiatives.

#FIGS. 1A-1F (collectively FIG. 1) is a flow chart of an example of a method to manage achieving an objective in accordance with an embodiment of the present invention.

#FIG. 2 is an example of a Satisfaction Behavioral Analysis for customer satisfaction in accordance with an embodiment of the present invention.

#FIG. 3 is an example of an illustration of a “butterfly” chart of key drivers of customer satisfaction for a banking or financial institution in accordance with an embodiment of the present invention.

#The following detailed description of preferred embodiments refers to the accompanying drawings, which illustrate specific embodiments of the invention. Other embodiments having different structures and operations do not depart from the scope of the present invention.

#FIGS. 1A-1F (collectively FIG. 1) is a flow chart of an example of a method 100 to manage achieving an objective in accordance with an embodiment of the present invention. In block 102, an objective may be defined. As an example of the present invention, such an objective may be to manage, improve or increase customer delight or satisfaction. While the present invention may be described with respect to managing customer delight in a banking or financial institution environment, those skilled in the art will recognize that the principles and features of the present invention may also be applied or adapted for use in managing other objectives, such as business objectives or the like in other industries or environments. As a further example, principles and features of the present invention may be applied to manage satisfaction of employees or any type individuals that interface or interact with a business or other entity.

#In block 103, performance goals that support the overall objective may be assigned to associate groups or individuals in accordance with an embodiment of the present invention. Compensation may be structured so that some portion of the associate's total compensation would depend upon success in reaching the performance goal. The assessment of performance to the goals may be made on a periodic basis, such as annually or more frequently.