Ever heard the line “Consumer is the king”? When I was growing up and was in middle school, I saw my dad’s company slogan on his car. It said “Customer First”. This leads to my early childhood belief that big companies do think about their customers and are not solely engaged in profit making. Now, in my late mid-thirties, I better understand the dynamics of corporate world. It’s about balance between keeping customer satisfied and increasing profit. Those top 1% income earners get paid for doing just that, managing money and resources to keep customers and shareholders happy. You might tend to think they are more tilted towards shareholders, and you are right because shareholders are the bosses. We tend to agree to with our boss’s demands. Company executives are bound to listen to shareholders first. Nevertheless, if customers are not satisfied, in no time the shareholders would also become dissatisfied. Look what happened to Netflix. Millions of their old trusted customers started fleeing. (don’t forget to check my post on why you shouldn’t use Netflix and Netflix vs. Blockbuster movie pass). This reaction of rebellion from the customers led Netflix to reverse some of the decisions and the CEO was forced to
