...CRM In order for a company to be successful it must establish a positive relationship with its customers. Customer relationship management (CRM) involves building lasting relationships with internal customers as well as external customers. If a company fails at CRM they risk losing their customers to their competitors. CRM involves the tracking of customers and potential customers called prospects. ("What is CRM? | PCMag.com", 2013., p. 1) Managers whom are involved in CRM are generally looking at several different concepts such as Opportunity tracking, Prospects/Lead Generation, Email Integration, Automated Workflow, Collaboration and Reporting. ("What is CRM? | PCMag.com", 2013., p. 1) Opportunity tracking involves the manager knowing what deals the sales team may be working on. ("What is CRM? | PCMag.com", 2013., p. 1) This gives the manager leverage when trying to please customers and attract new ones. Prospects/Lead Generation involves managers being aware of any new customers that may need or want their products and / or services. ("What is CRM? | PCMag.com", 2013., p. 1) When a manager attracts a prospective customer and they buy into a product or service, the prospective customer changes to a regular customer. At this point the relationship changes towards maintaining that relationship by keeping that customer happy. ("What is CRM? | PCMag.com", 2013., p. 1) Email Integration involves creating open means of communication such as a Microsoft Exchange server or a cloud-based...
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...Case Study – Organizational Development of Bain & Company July 2, 2012 Organizational Development of Bain & Company Bain & Co. Inc. (“Bain”) is a consulting corporation, established by Bill Bain and six former professionals from Boston Consulting Group (BCG) in 1973 to develop a strategy implementation that was markedly different from industry norms (Ormiston, 1990). According to Bill Bain, there were four problems he wanted to fix in the traditional consulting process specifically 1) short-term duration of projects with the report seen as the end product; 2) recommendations not supported by relevant data; 3) no follow-through on given recommendations and 4) performance metrics (i.e., Results of the recommendations) were mostly internal (peer reviews) not independent measures (Ormiston, 1990). Bain`s approach was to make a commitment to one company per sector/industry – refusing to work for competitors. In the 1990s, this strategy aided Bain in developing a deeper level of involvement with a limited number of clients. Sometimes, a customer had as many as fifty professionals working on all aspects of the business analysis (Harvard Business School Journal, 1990, pp. 95-96). The company de-emphasized the hype around the ‘report’, focusing instead on helping the client successfully execute policy recommendations. The results of these recommendations are judged by independent matrices such as the growth (or decline) of client`s stock prices when compared...
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...Bain & Company was founded in 1973 in Boston, MA with a mission to “redefine the management consulting industry to focus on delivering results, not just producing report” (Bain & Company, 2015a). Bain supports organizations/clients from any industry or geography, focusing their consulting services on vital areas like strategy, marketing, organization, operations, technology, transformation, advanced analytics, and merges & acquisitions. Based on the organizational mission that customers should get results (not just reports), Bain adopted an innovative results-driven strategy to deliver customized solutions, which turn recommendations into concrete actions and help clients beat their competition. The “Results Delivery” approach is one of their secrets of success, which focus on predicting, measuring and managing risk associated with the change from day one (Bain & Company, 2015a). Bain has a comprehensive tool kit that includes the decision and organizational scorecard (to assess how your organization is doing compared with competitors and peers), a five-step process for decision-making effectiveness, and the alignment of measures and incentives as a way to keep people pointed toward growth (Bain & Company, 2015b). Another Bain’s secret of success is their people: “our people make us different—energetic about supporting and challenging our clients in equal measure” (Bain & Company, 2015a). The organizational culture encourages the...
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...Table of Contents Assignment – Part A 3 Section 1: 3 Section 2: 5 Assignment –Part B 7 Section 1: 7 Section 2: 8 References 10 Assignment – Part A Section 1 – Site Breakdown: The SCR website has been entered and reviewed with the following acknowledgement and understanding applicable to the corporate request conducted by Jesse: • The data library includes essential corporate information including personnel records within each subset identified below: o SCR Function and Organizations - This includes senior management, as well as existing groups with assigned personnel and, applicable objectives and missions associated with these groups. o SCR Training Records (2-months) - Shows training data with personnel contact information for past two month time period. o JAD Session Example - Outlines effective utilization and employment of JAD team members through correspondence and brainstorming of techniques and processes for efficiency honing. o Cost - Benefit Summary- Outlines potential impact associated with salaries, training, supplies and misc. in conjunction with earned revenue to establish baseline for potential profit achievements and ROI possibilities. o Sample of Questionnaire Results - Establishes sample questionnaire for students taking courses to include, top classes and applicable rating trends associated with classes achieved by instruction presenters...
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...One of the main problems during a recession is employee attitudes. Excellent management skills are needed in trying economic times in order to boost employee morale and productivity. One of the methods used include Schwartz’s 10 values that guide a person’s behavior. Another method used is affective, cognitive, and behavioral components that influence behavior by increasing organizational commitment. Increasing employee involvement is also important to management. Ajzen’s theory of planned behavior can be used by managers to increase employee performance during a recession. Schwartz proposed that there are 10 values that guide a person’s behavior. The 10 values that he proposed are as follows: power, achievement, hedonism, stimulation, self-direction, universalism, benevolence, tradition, conformity, and security. Many of these values are driving the behavior of managers at Bain & Company, Home Depot, and Best Buy. Frank Blake the Chairman and Chief Executive of Home Depot decided to boost morale by lowering bonus guidelines for hourly employees to set more realistic goals. This exemplifies the values of achievement, power, stimulation, and self-direction. The end result was that the highest percentage of in store employees receiving bonuses in the first half of that year. Steve Ellis is the worldwide managing director of Bain & Company. His behavioral component of his attitude in managing during a recession is one that includes hiring managing consultants in...
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...Organization Studies http://oss.sagepub.com ‘Subterranean Worksick Blues’: Humour as Subversion in Two Call Centres Phil Taylor and Peter Bain Organization Studies 2003; 24; 1487 DOI: 10.1177/0170840603249008 The online version of this article can be found at: http://oss.sagepub.com/cgi/content/abstract/24/9/1487 Published by: http://www.sagepublications.com On behalf of: European Group for Organizational Studies Additional services and information for Organization Studies can be found at: Email Alerts: http://oss.sagepub.com/cgi/alerts Subscriptions: http://oss.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.co.uk/journalsPermissions.nav Citations http://oss.sagepub.com/cgi/content/refs/24/9/1487 Downloaded from http://oss.sagepub.com at SAGE Publications on July 31, 2009 1487 Authors name ‘Subterranean Worksick Blues’: Humour as Subversion in Two Call Centres Phil Taylor and Peter Bain Abstract Phil Taylor University of Stirling, UK Peter Bain University of Strathclyde, UK This article engages in debates stimulated by previous work published in Organization Studies, and more widely, on the purpose and effects of workers’ humour and joking practices. The authors emphasize the subversive character of humour in the workplace, rejecting perspectives which see humour as inevitably contributing to organizational harmony. Drawing on methodologies, including ethnography, which permitted...
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...| | Introduction In today’s competitive marketplace, customer satisfaction is tied directly to long- term profitability. Customers whose needs and requirements are not met will take their business elsewhere. If a customer is happy they tend to be loyal, and if loyalty is measured they not only buy more, they will recommend it to others. The best way to find out if your customer is satisfied is to ask them. With there being many measurement tools available, what’s the best way to track and measure customer satisfaction and how does this data interpret a realistic action plan? Identification of Best Practices Companies face challenges when they seek to identify, measure, and track customer satisfaction. Tools such as surveys, scorecards and questionnaires are increasingly popular since they help measure critical information available to a broad range of industries. A standard customer satisfaction survey asks participants to convey their opinions characterized by quality, price and service. To be useful, the information needs to be tangible so companies can implement improvements. The difficulty in creating a survey is typical low response rates, questions must be well written, and questions need to target the issues. On the other hand they are quick, relatively inexpensive, and there is a large sample size. Customer satisfaction scorecards measure where a company stands in the eyes of its customers, thereby enabling service and product improvements which will lead...
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...1 Cleaning Up Boeing By Stanley Holmes Business Week – Case in the News [LO 1, 3, 5] Chapter 4 When W. James McNerney Jr. decided that Boeing Co.'s (BA) top managers needed a loud wake-up call, the new chief executive chose the obvious place to sound the alarm: the company's annual executive retreat on Jan. 4 and 5. A year earlier, the event had been held at the posh Mission Hills Country Club in Palm Springs, Calif., and nobody apparently had a better time than McNerney's predecessor, Harry Stonecipher. After a day devoted largely to socializing and playing golf, the former CEO, surrounded by Boeing's elite, closed down the bar and then fired up a cigar. It was at the same event that the married Stonecipher began a relationship with a female vice-president at Boeing -- a misjudgment that ultimately paved the way for his humiliating ouster on Mar. 6, and for McNerney's appointment as CEO on July 5. Stonecipher could not be reached for comment. The "Palm Springs fling," as it became known at Boeing, marked an all-time low for the company. It followed a three-year binge of widely publicized corporate misbehavior highlighted by the jailing of Boeing's former chief financial officer for holding illegal job negotiations with a senior Pentagon official, the indictment of a manager for allegedly stealing some 25,000 pages of proprietary documents from his former employer, Lockheed Martin Corp. (LMT), and the judicial finding that Boeing had abused attorney-client privilege to help...
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...In corporate finance, Economic Value Added or EVA, a registered trademark of Stern Stewart & Co., is an estimate of a firm's economic profit – being the value created in excess of the required return of the company's investors (being shareholders and debt holders). Quite simply, EVA is the profit earned by the firm less the cost of financing the firm's capital. The idea is that value is created when the return on the firm's economic capital employed is greater than the cost of that capital; see Corporate finance: working capital management. This amount can be determined by making adjustments to GAAP accounting. There are potentially over 160 adjustments that could be made but in practice only five or seven key ones are made, depending on the company and the industry it competes in. NOPAT is profits derived from a company’s operations after cash taxes but before financing costs and non-cash bookkeeping entries. It is the total pool of profits available to provide a cash return to those who provide capital to the firm. Capital is the amount of cash invested in the business, net of depreciation. It can be calculated as the sum of interest-bearing debt and equity or as the sum of net assets less non-interest-bearing current liabilities (NIBCLs). The capital charge is the cash flow required to compensate investors for the riskiness of the business given the amount of economic capital invested. The cost of capital is the minimum rate of return on capital required to compensate investors...
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...Planning Process Over the past week, the team gained considerable knowledge of the importance of the planning fundamentals for management. In personal endeavors and in business basic planning is more critical than ever before. Planning gives a clear direction of objectives and goals set forth in an organizations business initiatives or one’s personal life for the future. These plans must maintain some flexibility for changes in the business environment or individual circumstances. This reflective summary will touch on strategic management covering mission, strategic vision, and goals outlined in the course material. Mission The mission describes clearly the purpose of the organization. It will describe what type of business the organization conducts, who its customers are, the goods, or services offered and the organizations values. Strategic Vision Unlike, the mission statement that describes current operations, the vision statement should include and clarify the long term goals of an organization. The vision statement should include worthwhile targets that are attainable to the organization working as a team. An effective vision statement should inspire the organization. An example of this is the team charter in class that outlines target dates for the submission of assignment to the team’s facilitator and the require level of participation of each team member. Strategic Goals The creation of strategic goals comes from the mission and vision statements...
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...Assessment 1 Research & report Assessment 1 Research & report A1 Introduction and Description. I am doing my assignment on a working Buffet Luncheon with donations for Legacy at my workplace, Daly Officers Mess, Lavarack barracks, Townsville. A working buffet lunch means it is done during work times over an extended lunch period from 12pm to 2pm. Legacy is a charity that supports Australian Defence families. As this is a working lunch, no alcohol is permitted to be purchased from the bar and I am expecting 50pax. We are doing this for our Military members, to change up the boringness of a normal lunch. For variety, we have decided to serve a selection of our most popular meals decided on by our members, which are: Cold meats being fresh ham off the bone, pastrami and chicken, we will also be doing a Thai chicken noodle dish, homemade large sausage rolls, beef parmigianas, hot chips and salads. Soft drinks will be available from the bar and free coffee/tea from our espresso coffee machine. My team will consist of myself, 3 cooks (the third is a backup), 1 bar person (as only soft drink is available I can’t see the bar needing more than one employee), 2 kitchen hands (cooks can kitchen hand themselves if needed) and 4 floor staff (if needed one of these can do the bar). I am calling my project, the Daly Officers Mess Buffet Luncheon. The military come and eat in the Mess every day, for Breakfast, Lunch and Dinner in a very routinely manner, my goal...
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...ISM EXTERNAL PROGRAMS ISEG BUSINESS SCHOOL - 5th year ISM - 431 E-BUSINESS FINAL ASSIGNMENT Student : FLORENTIN THEVENET Professor : S Subject : The Impact of the Online Publication on the Print Media Words : 3 733 strategic shift with the influx of new means of dematerialization of information. A study conducted in 2010 by Bain & Company1 reports that in 2015, 15 to 20% of the population should be equipped with a digital book, an electronic reader (called an Ereader) or multifunction tablet (not including Smartphones). These last may even represent the majority of the market, reaching a wider audience, if prices, still exceeding € 300, were to fall. Also according to this study, the digital book and digital media in general should know a better situation and favorable growth in the coming years, most users remaining faithful to the paper (including books), seeing the new devices with only additional functions. In addition, unlike the music industry or the audiovisual industry, there are very few parallel market, where users can illegally download works. If this phenomenon were to grow, then it may be as difficult for the publishing industry as the entertainment industry. Currently, there are three main schools of thought on the so-called traditional print media and its evolution towards digital media. Some see through this trend the death of newspapers and even the journalists (the professional ones). We cannot give them completely wrong, when you look...
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...is to influence change in the health care field as an educator or as an administrator. I want to inspire others to be excited with Nursing and be more involved in creating best practices that affects health care. I also want to ensure that I am more marketable to advance in my career. Graduate study paves the way toward the realization of these aspirations. Three Challenges that I will face in Meeting my Goals Just like any endeavor, the decision to attend a graduate program did not come without difficulty. Kramer L. (2007) mentioned the cost of higher education, time constraints, and acquiring skills necessary to succeed in graduate study, as challenges that students need to face. Financial Aid Availability A study conducted by Bain, Fedynich, and Knight (2009), suggested that graduate students...
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...GLOBAL PRIVATE EQUITY REPORT 2013 About Bain & Company’s Private Equity business Bain & Company is the leading consulting partner to the private equity (PE) industry and its stakeholders. Private equity consulting at Bain has grown 13-fold over the past 15 years and now represents about one-quarter of the firm’s global business. We maintain a global network of more than 400 experienced professionals serving PE clients. Our practice is more than three times larger than that of the next-largest consulting firm serving private equity funds. Bain’s work with PE spans fund types, including buyout, infrastructure, real estate, debt and hedge funds. We also work with many of the most prominent limited partners (LPs) to PE firms, including sovereign wealth funds, pension funds, financial institutions, endowments and family investment offices. We support our clients across a broad range of objectives: Deal generation: We help PE funds develop the right investment thesis and enhance deal flow, profiling industries, screening companies and devising a plan to approach targets. Due diligence: We help funds make better deal decisions by performing diligence, assessing performance improvement opportunities and providing a post-acquisition agenda. Immediate post-acquisition: We support the pursuit of rapid returns by developing a strategic blueprint for the acquired company, leading workshops that align management with strategic priorities and directing focused initiatives. Ongoing value addition:...
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...Discuss and explain the various scenarios that banks may be faced with as they manage customer retention. In your response, explain why consumers are often reluctant to defect. Banks today are currently concentrating on satisfying the customers through their provided services. However, in todays advance society customers can’t be satisfied in just one single way to remain loyal to the bank. This is because banks are providing homogenous services (Raheem, 2011). In the banking market products that are traded will be more or less the same with few minor differences in designs. When a single bank comes with any unique service, its competitive advantage lifetime shortens as all others follow the suit (Raheem, 2011). The question arises, if customers cannot remain satisfied for a long period of time, how will the banks expect loyalty from its customers in the long run? Banks and other business tend to rely on the art of customer delight to satisfy its customers and build a long lasting relationship. The customer sees customers delight as a favorable experience from a business when they receive a good service that surpasses their usual expectations. According to Raheem (2011,p.2) “Customer delight involves going beyond satisfaction to delivering what can be best described as a pleasurable experience for the client.” When you create "wow" then you have made a very special mark in the recollection of the customer that is very easy to recollect (Raheem, 2011). Once there is a moment...
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