What is Customer Satisfaction ?
February 12, 2025
Every business knows that in order to thrive it needs to differentiate itself in the mind of the consumer. Price has proved inadequate since there is a limit to how much a firm can cut back on its margins. Product differentiation is also no longer enough to attract or retain customers since technological advances have […]
Following are the main differences between Strategy Formulation and Strategy Implementation- Strategy Formulation Strategy Implementation Strategy Formulation includes planning and decision-making involved in developing organization’s strategic goals and plans. Strategy Implementation involves all those means related to executing the strategic plans. In short, Strategy Formulation is placing the Forces before the action. In short, Strategy […]
Introduction China Mobile operates in a monopoly like market in the domestic Chinese telecom sector and hence, the application of the five forces model reveals that it need not yet worry about the external environment, which is protected and heavily regulated. Having said that, as the succeeding discussion makes it clear, it cannot take its […]
Product management is needed in companies that have several products and brands where the need for integrated management of the product lifecycle makes the difference between success and failure. Hence, these companies need to create the post of a product manager who can help them manage the end to end product development in a seamless […]
Introduction Diversification is one of the strategies pursued by firms wishing to grow in newer markets and by launching newer products. Diversification usually entails the firms entering new markets in the industry in which they are already present by launching newer products. Note the emphasis on new markets and new products as diversification is not […]
Human Resources are those constituents of an organization that take care of the human facets and needs of all employees within that organization. Key functions of HR in an organization are-
Employees are the significant assets and the primary promoters of profitable business for an organization. Hence, apart from managing clients and customers for business purpose, it’s a decisive responsibility of an organization to manage and fulfill all needs of its own employees.
It would be improper to say that a CRM system is only used to manage clients and customer; most of the HR heads or managers are using CRM technologies for managing company’s human capital. This approach is called as Employee Resource Management (ERM). An ERM is a business process that fills gaps between an organizations and its employee to create a strong emotional and professional bonding among them.
A well integrated ERM provides a committed information base system for all Human resources. This is termed as Human Resource Information System (HRIS) in most of the renowned organizations which provides a better interface for HRs to deal with internal employees and screens all problems associated with relationship among organization and employee. Some of its features are listed below-
An organization is always benefitted by Employee Relationship Management if it is implementing it with CRM strategies with clear rules and guidelines. For an organization an upright and healthy relationship with employees always acts as reciprocal commutation and leads to betterment of both.
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