With the digitization of information, most expertise is now available online with search engines such as Google. Therefore, experts for hire for certified occupations such as law, medicine, and accounting are likely to be automated and commodified. As a result, one has to transition from an expert for hire to a trusted advisor. This course, taught by Professor Jagdish Sheth, 2020 Padma Bhushan Award winner for Literature and Education, is based on interviews with more than 30 CEOs and chairmans of very large enterprises with the goal of identifying attributes of a trusted advisor. We highlight 7 specific attributes of great advisors including integrity, empathy, selfless independence, and big picture thinking. The best trusted advisors are those who have experienced adversity in their own lives.
Overview
Syllabus
- How to Become a Trusted Advisor
- This module compares and contrasts experts for hire and trusted advisors. Expertise is becoming automated and there is a growing need for experts for hire to become trusted advisors especially in financial and health services. While expertise is becoming commodified, there is also a shortage of trusted advisors.
- How Companies Gain Competitive Advantage Through Customer Loyalty
- The purpose of business is to create and retain customers. While we have significant knowledge about creating first time customers, we are still learning how to retain our existing customers. Companies gain cost, growth, and innovation advantages through customer loyalty. In service industries, customers remain loyal to the first company they use. Only disruptions in company policy, operations or mergers and acquisitions affect customers’ loyalty.
Taught by
Jagdish Sheth
