Cultural aspects of multi chanel cutomer management Essay

Cultural aspects of multi chanel cutomer management - Essay Example Organizations should have a clear picture about the different customer behaviours in order to formulate different strategies to establish strong relationships with them. Some customers may like cheaper price whereas some others may give more importance to the quality of the product or after sales support. The awareness of customer behaviours will help the organizations to formulate different channels for the customer management. This paper is written based on the reflections of the article Cultural Aspects of Multi-Channel Customer Management: A UK Case Study. Channel management is influenced by customer behaviors, preferences, perceptions and expectations. Customers may contact with the different channels of the organization at different period of time throughout customer’s life cycle. Customer relationship management (CRM) depends of many factor like differences in business practices, competition, regulatory characteristics, country characteristics, and consumer characteristics. Organizations need to approach the CRM in two ways; macro – country level and micro- individual customer in order to cater the needs of the customers effectively. The macro factors involve differences that affect entire countries or regions whereas the micro factors involve individual consumers within those countries or regions. The success of CRM depends on three factors which arose from internal and external environments; differences in customer expectations, drivers of satisfaction, loyalty, profitability and customer value across countries or cultures; differences in the competitive environments, technological infrastructure, political systems, and regulatory variations between countries around the globe and the difference in the challenges faced by global firms in forming a cu stomer-oriented organization, which already encountered challenges in the form of culture and power issues. Multi-channel customer management will help us to analyze the influence of culture

Summary On Current Mnagement Ariticle Essay Example | Topics and Well Written Essays - 500 words

Summary On Current Mnagement Ariticle - Essay Example The classical model of capacity expansion is an example and is applicable in cases of definite demand with constant growth rate. These models assume growth to have a geometric or stochastic trends but Karri’s timing ratio model assumes that demand has a linear but definite growth that allows for determination of optimal capacity expansion time. According to the model, early expansion of potentials leads to surplus potentials while late expansion leads to shortage of potentials. The model for capacity optimization identifies size and fixed costs of the proposed equipment, and unit fixed cost as significant factors. It shows that early project implementation is better under minimal fixed costs, relative to contribution margin. Some of the factors may again be insignificant in the model. With an assumption that an organization’s cost structure is an indicator of its expansion project, timing potentials of entities become comparable. In addition, range for investment timing widens if contribution margin is high and yet fixed costs remain minimal. Timing ratio, under the model, is inversely proportional to timing potential. Testing the model faced the challenge of contents of organizations’ income statements. While contributing margin is significant to determination of the time ratio, some organizations’ income statements do not offer items that are used in computation of the contribution ratio. The contribution margin can however be estimated and this facilitated testing of the timing ratio model. The model and its testing identify theoretical and empirical implications. Ability to compute timing ratio from contribution margin and operating income and difficulty in comparing timing ratios are the implications of the developed information (Karri n.p.). The article relates to the managerial accounting concept of value optimization through minimizing cost and