"What is Service?" Ron Kaufman’s Eye-opening Insights on the Definition of Service
Understanding Service in the Financial Industry
The Concept of Service
- The speaker introduces the financial services industry, emphasizing that all organizations serve someone and highlighting Swift as a membership organization for these businesses.
- A distinction is made regarding the term "uplifting service," prompting a discussion on what constitutes good service and its definition.
- Participants are encouraged to define "service" with their partners simultaneously, fostering engagement and reflection on personal interpretations of the term.
Diverse Definitions of Service
- The speaker notes that many participants may not share identical definitions, revealing potential gaps in understanding even among professionals in the service industry.
- Common shallow definitions are critiqued, such as simply making customers happy or serving others as one would like to be served, which can lead to misunderstandings about diverse customer needs.
Establishing a Clear Definition
- The speaker recounts their experience in Singapore 30 years ago, noting a lack of a solid definition for service applicable across various contexts within organizations.
- A new definition is proposed: "Service is taking action." This emphasizes that action must be taken for something to be considered service.
Purpose of Service Actions
- The purpose behind actions taken in service is clarified: they should create value for someone else. This highlights the importance of understanding customer needs and expectations.