Abstract
This journal explores the critical role of feedback as the foundational engine driving sustainable business development and organizational evolution in a dynamic market. It asserts that feedback is information informing subsequent action, not a mere customer service function, but a strategic imperative that informs innovation, efficiency, and market relevance. The journal categorizes feedback into critical streams: Customer (driving product-market fit and loyalty), Employee (enhancing operational efficiency and talent retention), Stakeholder/Partner (securing strategic alignment and resource resilience), and Market/Competitive (facilitating strategic pivoting and differentiation). Analysis reveals profound positive effects, including accelerated iterative innovation, boosted employee engagement and productivity, reduced operational costs, and the validation of Corporate Social Responsibility (CSR) efforts. Conversely, a closed-loop system results in severe negative consequences, such as talent drain, strategic stagnation, public relations crises, and the erosion of partner trust. The paper concludes by proposing a framework for developing an effective feedback culture, emphasizing leadership commitment, psychological safety, and the "close-the-loop" principle where action is visibly communicated. Ultimately, the systematic collection and implementation of feedback is identified as the fundamental dynamic capability that dictates an organization's long-term success and agility.
Keywords
Feedback, Customer, Employee, Market and Stakeholder
Citations
IRE Journals:
Odejobi, Oyewale Olufemi
"The Strategic Relationship: The Effects of Feedback on Business Development" Iconic Research And Engineering Journals Volume 9 Issue 4 2025 Page 454-457
IEEE:
Odejobi, Oyewale Olufemi
"The Strategic Relationship: The Effects of Feedback on Business Development" Iconic Research And Engineering Journals, 9(4)
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IRE Journals is an open access online journals established with an aim to publish high quality of research work in various diciplines. We have more than 6 years in publications. Over 2500+ papers already published.
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