What role can an customer relationship management (CRM) system play in delivering world class services to customers?
The ability of an organization to understand the changing demands of their customers is built on it's ability to develop products and services which are needed by customers. Evaluating customer buying behavior for developing new products and services can allow a firm to use the CRM system in the most effective manner, while also allowing the company to increase its profitability.
How can organizations use social media to create a sustainable competitive advantage?
Connecting directly with the end customer is perhaps one of the most critical competitive advantage which can be created by companies in order to satisfy the customer needs and wants. Social media interactions can allow a company to understand the intricate needs of their customers, and therefore develop and sustain products and services accordingly.
Does the scientific management theory advocated by Fredrick Taylor relate to any current business practices?
Scientific Management principles, advocated by Fredrick Taylor related to the pursuit of efficiency, by advocating one best way of undertaking work. This aimed to replace working by 'by rule of thumb' and monitoring of workers. While today's work routines have led to significant job enrichment and innovation today, organizations still need employees to be repetitive and efficient today. This has meant that many of the principles of scientific management still stay relevant.