Research on the 7 Business Transformations (Choose 1 transformation): 1-From sup
ID: 361337 • Letter: R
Question
Research on the 7 Business Transformations (Choose 1 transformation):
1-From supplier-centric to customer-centric.
2-From push to pull.
3-From transactions to relationships.
4-From ‘trucks and sheds’ to ‘end-to-end’ pipeline management.
5-From functions to processes.
6-From stand-alone competition to network rivalry.
7-From inventory to information
For example, if you choose From supplier-centric to customer-centric.
Answer the following:
1. What is this business transformation?
2. Why is this important to business?
3. What happens if your firm does not observe this transformation?
4. What skills are needed to make this transformation?
5. What technology do you need to make this transformation?
6. Give a specific case example. ( 5 sentences long paragraph. - You may use
any resources - the internet, books, ...)
Explanation / Answer
1. From transaction to relationship
- this business transformation is all about shifting from mere transactions which is selling to building a rapport with the customers which is relationship.
- it means looking at Customer services
- it is typically to give a Wow experience to the customers
2.Importance to business:
- improves customer loyalty
- increases demand for the product
- expands the market
- increase in organisations bonding with customers
- sustainable customers
3. If not observed below would be the results:
- no personal touch
- reduced loyalty
- high rivalry
- outdated in the market
4. Skills needed
- networking and communication skills
- empathetic skills
- customer knowledge
5.Technology:
- there are multiple employee resource planning systems popylarly known as ERP's are available in the market.
- specialised Customer relationship management ERP'S from the information technology giants like Oracle, SAP and IBM is also avliable to effectively manage the CRM.
- many small vendors also provide technologies on CRM
6. Case example:
Mercedes Benz:
- this case in Mercedes Benz was all about customer relationship management
- the issue was that Mercedes Benz was sold through dealership
- hence the company did not have any direct touch with the customers
- even though the technology was high customers complaint that the service was not good
- Mercedes-Benz took this as a challenge and tried to sought issue out
- then they started building the CRM database with all the details about customers
- then moved into customer service mode.
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