Richer Sounds - Business Model

Business Model

Customer service is considered important; customers are asked for their feedback through 'freepost' cards in which customers are asked to rate their visit via a questionnaire and also on item receipts. Julian Richer, in running the company is involved in addressing major issues.

Their stated aim is to beat competitors' prices, including those on the internet, subject to their 'pricebeat' policy. Their shops tend to have a simple layout and are generally located be on the edge of main shopping areas in order to keep costs down.

Richer Sounds involves its employees in bettering the company through its suggestion scheme and is successful in receiving suggestions from employees. This may have prompted other businesses to emulate its business model, such as the Halifax bank and Asda supermarkets. It has also been cited by some academics as an example of an efficient system, most notably Dr Alan G Robinson of the Isenberg School of Management, University of Massachusetts Amherst, in his paper "How the Best Managers and Organisations Tap the Ideas of their Front Line People."

Read more about this topic:  Richer Sounds

Famous quotes containing the words business and/or model:

    This whole business of Trade gives me to pause and think, as it constitutes false relations between men; inasmuch as I am prone to count myself relieved of any responsibility to behave well and nobly to that person who I pay with money, whereas if I had not that commodity, I should be put on my good behavior in all companies, and man would be a benefactor to man, as being himself his only certificate that he had a right to those aids and services which each asked of the other.
    Ralph Waldo Emerson (1803–1882)

    She represents the unavowed aspiration of the male human being, his potential infidelity—and infidelity of a very special kind, which would lead him to the opposite of his wife, to the “woman of wax” whom he could model at will, make and unmake in any way he wished, even unto death.
    Marguerite Duras (b. 1914)