The final two questions looked at the impact of interest rates on businesses.
57% would find further interest rate cuts beneficial or highly beneficial to their business, while only 9% found the prospect might be detrimental. 83% has found the long-term stability of interest rates to be highly beneficial or beneficial, and only 2% have found stability to be detrimental.
Listed below are extracts from feedback received in Survey BB54 November 2002.
Comments are listed under sector headings.
Views expressed are those of individual panellists and may not represent those of the University.
I think the issue of Professional Indemnity insurance and the huge increase in costs/lack of availability is dramatically affecting many sectors and especially ours as Independent Financial Advisres. This needs to be addressed!
Q6.How important do you feel it is to have a personal, well-informed point of contact at your bank?
Re: Q6, Increasingly I find my bank unable to answer questions. Telephoning my local branch [ which is about 500 metres away from me] is impossible, as I have to go through a national number, automated yes/ no responses; choices from 4 options etc. The end result - no contact!!!
The increase in US business is dominated by one contract in the Power Generation Sector
As organisations/companies get bigger, the importance of individual customers decreases and orgs become complacent about looking after them.
With interest rates low in Euro countries money has been used to invest in process improvement and R & D.
I feel that the major service suppliers (Banks, Utilities etc) have made business extremely more tedious, complicated and time consuming with the introduction of call centers, unsolicited calls, lack of personal contacts with experts. A particular culprit are Banks, where it is nigh impossible now to get in touch in person or with a voice on the other side of the phone line when discussing issues that would be previously have been resolved within seconds.
Q7.To what extent do you find that the increasing use of call centres by important services such as utilities, insurance and banking affects your ability to make business arrangements?
I would strongly recommend these institutions live up to their mission statements concerning customer care as expressed in their annual reports.
Q1.To what extent do you feel that the crucially important economic contribution of the entrepreneur is sufficiently recognised in UK cultures?
Your question about the importance of the entrepreneur seems extremely relevant - these institutions seem to be run by accountants with no knowledge whatsoever about their customer's needs.
There is no evidence that entrepreneurs are less capable of producing shareholder value than accountants. The entrepreneur however has a more balanced view about the equal importance of customer, employee and shareholder.
firstname.lastname@example.org / Tel: 0115 84 66860.