28 • 100 GREAT BUSINESS IDEAS
Large-scale information gathering and storing enables the
provision of a high-quality, personalized service for each client.
By adding value to your product, you can shut out competitors and
ensure repeat business.
The idea
By applying information technology effectively, and training all
of its employees to use information, the Ritz-Carlton hotel chain
has, over the last 15 years, developed into one of the most successful
luxury hotel chains in the world, providing customers with a highly
personalized service. The Ritz-Carlton strategy was quite simple:
to differentiate itself from its competitors by offering distinctive
service and customer value at a competitive price.
What was uncommon, however, was the emphasis on several key
principles, which were underpinned by a blend of strong leadership
and the successful management and application of technology.
These principles included:
- A vision of an effi cient, personalized service. It was important
to ensure employees were committed to providing a quality
service. IT systems were standardized throughout the business,
and an organizational culture was developed that emphasized
the need to capture and disseminate useful information about
each individual customer. - The desire to ensure hotels operated error-free and to retain
customers through a precision marketing strategy. To achieve