Who can predict the future?
Only that guy pushing the dodgy investment opportunity down the local for certain, but here’s my take on some long-term effects of recent actions.
Hi all,
A busy first day back after a week off in the Alps and I’ve been thinking about short-sightedness.
Tl;dr: Removing free bags will save you money, but will it save your customers?
Why it matters: The same activist hedge fund supposedly behind BP’s renewable myopia are reportedly back again with Southwest’s customer value proposition in their sights. These types of cost savings work great for a fund with a short investment window and can lock in a return over the next few years, but they won’t have to deal with decreasing top line growth when customers—in a generally homogenous and commoditised market—leave because they no longer feel like the subject of Southwest’s focus, and it is deserving of their loyalty.
Tl;dr: Starbucks forced to compensate a customer after a groin-related hot spillage…
Why it matters: Accountability has an obvious financial implication here, rightly compensating permanent disfigurement for this poor lad. The balance for Starbucks is weighing up how heavily they defend their duty of care against the negative impact of how customers perceive them. Companies need to own their (obvious) mistakes better to stop customers from thinking they don’t care about them or their safety.
Tl;dr: Online news outlets increasingly utilising a cookie consent or pay model
Why it matters: This provides a new way to guarantee revenue and prevent advertisers from printing irrelevant ads. Consumers, used to free access and increasingly privacy-conscious, are now forced to choose between both. Ultimately, (good) journalism isn’t free, it needs to be funded somehow and I hope that this op model evolution continues to serve this.