Why Generosity is Good for Business

You’re standing behind the counter of a major department store chain that 29ecccfsells mostly upscale clothing when a customer rolls in two snow tires and says “I’d like a refund on these.”

The store doesn’t sell tires and you know he didn’t purchase them at your store but he insists that he has. What do you do?

Anyone familiar with the customer service reputation of Nordstrom department stores knows that you say “yes, let me get your cash refund.”

While Snopes.com makes a case for the story being apocryphal, Nordstrom officials confirm it happened in Anchorage Alaska. Fact is, it doesn’t matter, because what Nordstrom teaches new employees defines (and adds huge value) to the Nordstrom brand:

Our number one goal is to provide outstanding customer service. Set both your personal and professional goals high. We have great confidence in your ability to achieve them.

RETURN ON GENEROSITY

Words like “generosity” are increasingly making their way into business. Keith Ferrazzi in his #1 New York Times bestselling book Who’s Got Your Back teaches four mindsets that are critical to personal and professional success and one of the key mindsets is generosity. But is there any evidence that generosity is good for business and the bottom line? Is there a Return on Generosity?

Read the full article here.

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