Author, Knowledge at Wharton Staff | May 2019
If you build a customer-centric business, the money will come. That’s the message in a new book by Horst Schulze, co-founder of luxury hotel chain The Ritz-Carlton.
Knowledge at Wharton: Do you believe that excellent customer service is what made your hotels the best?
Horst Schulze: That’s correct, yes. We concentrated on the market, on the customer and on the individual. If I want to concentrate on the individual, I have to first understand the market as a whole and then adjust to each individual person. And we did that with total concentration. We simply believed that if we concentrate on the product — in our case, service — we will in the end make more money. That’s exactly what happened.
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