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Customer satisfaction is directly related to reinforcing feedback loops. The more satisfied customers are, the more likely they are to leave positive feedback. This positive feedback then attracts more customers, who are also likely to be satisfied and leave positive feedback. This creates a reinforcing feedback loop, where customer satisfaction leads to more customer satisfaction.
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Reinforcing feedback loops are found whenever a stock has the capacity to reproduce itself or grow as a constant fraction of itself. The more customers leave positive feedback about your company, the more people will try it and leave more feedback. Over time, your stock – in this case, customer satisfaction – will reproduce on its own.
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How do you avoid wasted time, money, and resources from short-sighted decisions? When you think in systems, you can learn to recognize the relationshi...
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How to know if an idea is worth pursuing? Companies need tried-and-true ways to discover the next big idea that will disrupt their industry. This Idea Testing presentation template includes tools that can be customized to different business scenarios and provide a framework for brainstorming and testing new ideas.
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