Feedback is defined as a system of loops that connect communication and action. Indiciuals provide messages to others, who then respond to those messages in some way… It seeks to find new avenues of growth and development.
– Eric Eisenberg, H. Goodall Jr, Angela Trethewey (Organizational Communication)
There’s two main types of feedback: positive and negative feedback. Positive feedback is used as a backbone for the most part. Why is it the backbone? Because it’s easy to build around what is already a strong point, but that doesn’t mean it doesn’t need to improve. Negative feedback from people or other marketplaces benefit any company as long as they take the feedback as a sign to improve on that subject. Negative feedback can bring a small company up to a popular/trending company if they fix the problems people talked about in the negative feedback. If there is no feedback at all, that makes the situation worse since the company or group of people don’t know what’s wrong with what they’re doing.
However the company or group of people respond depends on how they take it… deviation-counteracting (negative) feedback or deviation-amplifying (positive) feedback. Learning how to learn, “double-loop learning,” uses feedback to reexamine established assumptions and decision premises equates to a summary of the above paragraph. As long as the group or company receive feedback, they can progress.
Although feedback is highly important, it has its consequences. One consequence that comes to mind is if the feedback is false information; you never know if you can fully trust the feedback given to you from random people that could be lying about whether or not they actually bought or used your product/service. There’s always a possibility of never receiving feedback as well. Another consequence is if the feedback you receive overwhelms the company by recommending a solution that the company cannot afford money-wise and risk-wise. One last consequence I can think of is if people give so much feedback, the company can’t sift through the information efficiently and overwhelms the process of trying to progress their service/product.