State, in brief, with reasoning, whether following statement is correct/incorrect: “One cannot be everything to everyone, but can be everything to a selected few”.

Yes the statement is correct.

Explanation:

The statement is given by Matt Cheuvrant. In business the statement is absolutely correct that you can not satisfy the need of all the customers. A business cannot offer a product at less than its cost if a customer cannot afford it. Also an organization cannot start manufacturing a product because one customer demands it. If the company decides to satisfy all his customers by offering a large variety of products it may result in establishing in-house competition resulting in declining profits from both the products. If the company tries to give everything to every one this enhances its risk of failure resulting nothing in its own hands.

Businesses should focus on a single product and try to create a niche market. The product should be unique and its features should be extensively different from the other competitive products available in the market. This creates heavy switching cost to customers which ensures the business that customers will retain loyal to it. You can everything for few customers. They will not want to leave you because of your product specific features that are not available in the market.

administrative jobs normally have someone answering phone calls and scheduling appointments, filing patient or customer information, making sure the front of the office looks nice to those who enter the building. administrative jobs can also include making sure the manager has everything they need for meetings, making delivers and much more. administrative jobs are important to most businesses as are customer service focused as they are often one of the first impressions a consumer sees of a business.