Telecommunications in Mexico: Building the World’s Wealthiest Man
I am in no position to tell the company that is controlled by the wealthiest man in the world, they need to do better. I’m just sayin’, “There is room for improvement.”
No, not Bill Gates at Microsoft, or Warren Buffet, or the Google Brothers. I am talking about Mexican multi-billionaire Carlos Slim Helu’. As of April 2010, Slim became the richest man in the world according to Forbes.
Forbes Wealthiest Man
I was surprised that an American was not the richest of the rich. But, I was even MORE surprised that that person was Mexican. In my thick American skull, I could not believe this. And for that, I am ashamed. Americans, in general, have predetermined ideas about foreigners: who they are, what they are capable of, and how they live. This was a good discovery for me.
One of the most significant in Mr Slim’s empire is America Movil, Latin America’s largest mobile phone company, which operates in 11 countries and serves more than 150 million customers.
In short, Slim has monopolized the telecommunications market in Mexico. But this can change very soon. In early 2010, the Calderon government reiterated its intention to strengthen laws and regulatory institutions in Mexico in the interests of greater competition. The introduction of competition to the telecommunications market can mean trouble for Slim and Telmex.
The good news is that Telcel is already doing this. Telcel is reaching out to their customers to solicit ideas on how to improve through their Ideas Telcel site. Here, customers can share their gripes, complaints and good ideas for integration into the company. My limited Spanish may have told me otherwise, but unlike Starbucks who have shown they can be very responsive, I did not see where Telcel was answering/conversing with their subscribers. This can be a valuable aspect to retaining customers with the threat of competitors soon to join the landscape.
Where Megabuck’s Slim, Telcel, and Telmex have dominated, there now is a serious threat to loosing a huge number of customers with the arrival of new companies. The once accepted “my way or the highway” approach may not work much longer. To remain a valued, affordable service to the average Mexican, Telcel and Telmex must begin talking WITH and not just TO their customers.