Mnm
13 Teams
__
Average talent teams that get along well with each other are more productive than gifted teams that don’t get along. It doesn’t matter how well a team with low emotional intelligence is in control of the numbers. They can’t even decide what to try to do.
14 Stress
___
Difficulties at work and in our relationships put us under stress. Stress makes it difficult for us to find solutions to problems. When we can’t find solutions to problems, we get more stressed. To get rid of this dead end, we need to know how to manage our stressful situations.
15 Marriage
____
The secret of long and happy marriages is sincerity in your feelings. If your marriage was not built on this basis of intimacy from the very beginning, it will begin to crack over the years. Even small problems become unsolvable. You have to be emotionally open at the beginning of the road.
16 Leadership
______
Leadership does not mean dominance. Leading your colleagues to a common goal and making them believe in the reality of this purpose. Successful leaders are those who can keep their team’s motivation alive for many years. You have to make them desire the work to be done.
17. Emotions Are All Normal
___
Anger, hatred, love, happiness… You can understand when and under what circumstances these feelings will emerge by following yourself. You may have these feelings depending on how you interpret the events you encounter. The important thing is to be able to react independently of your feelings. You may find yourself making promises that you cannot keep because you are happy, or you may resort to violence when you are angry.
18/ Being able to Express Your Emotions
____
Not everyone’s level of empathy can be very good. You may be in a difficult situation immediately. You may feel bad, but people may not understand it. In these situations, you may need to express your feelings a little more directly.
19/You Are Not Your Emotions
______
Keep doing what you need to do, no matter how you feel. Success is achieved by people who cannot give up no matter what their feelings and thoughts are. Don’t let your feelings affect your actions.
20/ Timing
__
As soon as you feel a different emotion, try to think before you act. Because emotional intelligence moves faster than rational intelligence, it can make you act irrationally and make you say any unnecessary words.
Thanks for reading
~ 𝗧𝗼𝗻𝗴𝘀𝗮 𝗚𝘂𝘆
Book:- https://amzn.to/3XsVTz2.
Customer relationship management (CRM) involves using technology to organize a company's interactions with customers to improve customer retention. It aims to understand customer needs in order to increase their lifetime value. CRM integrates marketing, sales, customer service and other functions and includes operational CRM for direct customer interactions, analytical CRM to analyze customer data, and collaborative CRM to improve customer services. Key factors for successful CRM include evaluating current customers, developing a clear strategy, and ensuring the strategy is updated regularly. CRM benefits all stakeholders including employees, business customers, and suppliers.
Measures the effectiveness of your social media campaigns at fostering positive engagement. Interaction: A communication between an audience member and your brand's social profile.
CRM, subject notes as per the syllabus of Osmania university, this notes are very useful for the students pursuing any subject of customer relationship management courses, this can also be used by practitioners in the file of service sector
This document provides an overview of customer relationship management (CRM). It begins with definitions of CRM, including that it is an approach to managing a company's interactions with current and future customers by analyzing customer data to improve business relationships and customer retention. It describes the evolution of CRM due to changes in customer power in the 1980s. It then covers CRM concepts like the types of CRM, scope and benefits of CRM, and factors influencing customer value from the customer's perspective. Finally, it provides an example of how Amazon successfully implements CRM through collecting customer data, personalizing recommendations, offering customer support, and tailoring the customer experience.
The document describes a promotional scheme run by an advertising agency for Cello thermoware in Mumbai, where teams of callers rang 33,000 random phone numbers in the city and those who answered with "Cello" instead of "Hello" were eligible to win a free product. The unconventional idea of calling people and having them say "Cello" proved very successful at achieving top-of-mind awareness of the brand, with over 3,800 winners receiving prizes over the week-long promotion period in Mumbai. The creative marketing scheme was praised for being an "accha idea" or good idea that generated significant awareness for Cello thermoware products.
Customer Relationship Management (CRM) is an approach used by companies to organize and manage customer relationships and data across different departments. The goal is to understand each customer's value and improve communication efficiency and effectiveness. CRM captures and shares customer data to help meet customer, product, and service needs. It focuses on customer retention over acquisition and is a key tool for business success. CRM automates the sales, marketing, and service areas to better connect front and back offices.
Customer Relationship Management (CRM) is a business strategy that involves selecting and managing customers to maximize long-term value. It is a comprehensive approach to acquiring, retaining, and partnering with valuable customers through effective marketing, sales, and service. CRM requires a customer-centric culture and applications to support the strategy.
Customer relationship management (CRM) involves using technology to organize a company's interactions with customers to improve customer retention. It aims to understand customer needs in order to increase their lifetime value. CRM integrates marketing, sales, customer service and other functions and includes operational CRM for direct customer interactions, analytical CRM to analyze customer data, and collaborative CRM to improve customer services. Key factors for successful CRM include evaluating current customers, developing a clear strategy, and ensuring the strategy is updated regularly. CRM benefits all stakeholders including employees, business customers, and suppliers.
Measures the effectiveness of your social media campaigns at fostering positive engagement. Interaction: A communication between an audience member and your brand's social profile.
CRM, subject notes as per the syllabus of Osmania university, this notes are very useful for the students pursuing any subject of customer relationship management courses, this can also be used by practitioners in the file of service sector
This document provides an overview of customer relationship management (CRM). It begins with definitions of CRM, including that it is an approach to managing a company's interactions with current and future customers by analyzing customer data to improve business relationships and customer retention. It describes the evolution of CRM due to changes in customer power in the 1980s. It then covers CRM concepts like the types of CRM, scope and benefits of CRM, and factors influencing customer value from the customer's perspective. Finally, it provides an example of how Amazon successfully implements CRM through collecting customer data, personalizing recommendations, offering customer support, and tailoring the customer experience.
The document describes a promotional scheme run by an advertising agency for Cello thermoware in Mumbai, where teams of callers rang 33,000 random phone numbers in the city and those who answered with "Cello" instead of "Hello" were eligible to win a free product. The unconventional idea of calling people and having them say "Cello" proved very successful at achieving top-of-mind awareness of the brand, with over 3,800 winners receiving prizes over the week-long promotion period in Mumbai. The creative marketing scheme was praised for being an "accha idea" or good idea that generated significant awareness for Cello thermoware products.
Customer Relationship Management (CRM) is an approach used by companies to organize and manage customer relationships and data across different departments. The goal is to understand each customer's value and improve communication efficiency and effectiveness. CRM captures and shares customer data to help meet customer, product, and service needs. It focuses on customer retention over acquisition and is a key tool for business success. CRM automates the sales, marketing, and service areas to better connect front and back offices.
Customer Relationship Management (CRM) is a business strategy that involves selecting and managing customers to maximize long-term value. It is a comprehensive approach to acquiring, retaining, and partnering with valuable customers through effective marketing, sales, and service. CRM requires a customer-centric culture and applications to support the strategy.
It is an approach to manage a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.
This document discusses customer relationship management (CRM). It defines CRM as a business strategy to understand, anticipate, and respond to customer needs to grow relationships. There are five types of CRM: analytical, collaborative, operational, geographic, and sales intelligence. The purpose of CRM is to create value for customers and the company. Implementing CRM requires a strategic review and addressing infrastructure, vendors, and future needs. Technology like loyalty cards and CRM software help gather customer data to personalize service. Benefits include reduced costs, increased satisfaction, and long term profitability.
CRM stands for Customer Relationship Management. The document discusses several key points about CRM:
- CRM is about developing and maintaining profitable relationships with customers to gain a competitive advantage over competitors offering similar products and prices.
- CRM aims to increase customer loyalty and improve business profitability through identifying, acquiring, and retaining customers using information technology.
- The objectives of CRM include improving customer satisfaction, expanding the customer base, enhancing business sales, and improving workforce productivity.
Customer relationship management (CRM) relies on customer data to create customer loyalty. CRM was developed as a tool to manage customer data using IT techniques. The purpose of CRM is to improve marketing productivity through collaborative processes that reduce costs. Key aspects of CRM include differentiating customers, developing offerings for each customer type, keeping existing customers satisfied, maximizing lifetime customer value, and increasing customer loyalty.
Customer Relationship Management unit 3 crm structuresGanesha Pandian
The document discusses Customer Relationship Management (CRM) and provides information on key aspects of implementing a successful CRM strategy. It defines CRM and outlines its goals of increasing profitability through customer satisfaction and loyalty. The document also discusses CRM essentials, the CRM implementation process, customer acquisition strategies, retention tactics, and developing a CRM roadmap.
The document discusses customer relationship management (CRM) and electronic customer relationship management (eCRM). It outlines several key aspects of CRM, including acquiring and retaining customers, increasing customer satisfaction and loyalty, understanding customer needs and behaviors, and using marketing campaigns and technologies like data analysis to improve customer interactions and relationships. The document then discusses how eCRM uses electronic channels like websites and messaging to connect with customers and enhance the customer experience across different customer touchpoints. It emphasizes integrating online channels with traditional channels to implement a holistic CRM strategy.
Customer Relationship Management (CRM) is a business strategy focused on optimizing customer relationships. It involves using technology to streamline customer interactions and maximize customer satisfaction. The document discusses the concept of CRM, its features and objectives, the evolution of CRM approaches over time, types of CRM systems, and the future of CRM. It also provides an overview of the typical architecture of a CRM system. The overall aim of CRM is to enhance the customer experience through integration of customer data and insights to benefit both businesses and customers.
The document provides information about customer relationship management (CRM). It begins with defining CRM as an approach to managing a company's interactions with current and future customers by analyzing customer data to improve business relationships and customer retention. It then discusses key CRM concepts like customer value, expectations, satisfaction, acquisition, retention, loyalty and lifetime value. Specific examples of how Amazon and Apple use CRM strategies like data collection, personalization and recommendations are also provided. The document aims to explain the evolution and importance of CRM for business growth and customer focus.
Salesforce CRM is today’s popular cloud-based CRM which is preferably improving the business standards worldwide. Salesforce training has been increasing the chances of various business owners to move their companies to peak grades in the market. However, having a knowledge on CRM and its types helps one to understand and efficiently use any kind of it for the appropriate purpose.
Notes
13 Teams
__
Average talent teams that get along well with each other are more productive than gifted teams that don’t get along. It doesn’t matter how well a team with low emotional intelligence is in control of the numbers. They can’t even decide what to try to do.
14 Stress
___
Difficulties at work and in our relationships put us under stress. Stress makes it difficult for us to find solutions to problems. When we can’t find solutions to problems, we get more stressed. To get rid of this dead end, we need to know how to manage our stressful situations.
15 Marriage
____
The secret of long and happy marriages is sincerity in your feelings. If your marriage was not built on this basis of intimacy from the very beginning, it will begin to crack over the years. Even small problems become unsolvable. You have to be emotionally open at the beginning of the road.
16 Leadership
______
Leadership does not mean dominance. Leading your colleagues to a common goal and making them believe in the reality of this purpose. Successful leaders are those who can keep their team’s motivation alive for many years. You have to make them desire the work to be done.
17. Emotions Are All Normal
___
Anger, hatred, love, happiness… You can understand when and under what circumstances these feelings will emerge by following yourself. You may have these feelings depending on how you interpret the events you encounter. The important thing is to be able to react independently of your feelings. You may find yourself making promises that you cannot keep because you are happy, or you may resort to violence when you are angry.
18/ Being able to Express Your Emotions
____
Not everyone’s level of empathy can be very good. You may be in a difficult situation immediately. You may feel bad, but people may not understand it. In these situations, you may need to express your feelings a little more directly.
19/You Are Not Your Emotions
______
Keep doing what you need to do, no matter how you feel. Success is achieved by people who cannot give up no matter what their feelings and thoughts are. Don’t let your feelings affect your actions.
20/ Timing
__
As soon as you feel a different emotion, try to think before you act. Because emotional intelligence moves faster than rational intelligence, it can make you act irrationally and make you say any unnecessary words.
Thanks for reading
~ 𝗧𝗼𝗻𝗴𝘀𝗮 𝗚𝘂𝘆
Book:- https://amzn.to/3XsVTz2.
The document provides an overview of customer relationship management (CRM). It defines CRM as a business strategy to understand customer needs in order to grow relationships and value. CRM involves processes to track and organize interactions with current and potential customers. The goals of CRM are to maximize loyalty by identifying profitable customers and satisfying their needs. CRM has evolved from mass marketing to more targeted and personalized approaches through customer data analysis. Building customer satisfaction, loyalty, and positive experiences are important aspects of retaining customers and driving business growth.
Customer Relationship Management (CRM) is an approach that companies take to manage interactions with current and potential customers. It involves understanding customer needs and preferences at each stage of the customer lifecycle in order to develop long-term and profitable relationships. CRM provides tools for market research, product development, customer segmentation and more to help companies gain a competitive advantage. Effective CRM relies on understanding customer expectations, building partnerships, empowering employees and obtaining customer feedback.
Customer Relationship Management (CRM) aims to establish long-term relationships with customers through personalized interactions rather than short-term transactions. It focuses on customizing products and services to individual customer needs, preferences, and expectations rather than employing standardized mass marketing techniques. CRM uses customer data collected from interactions over time through various channels to understand each customer and maximize their lifetime value to the company. Information technology plays a key role in powering CRM strategies by enabling companies to collect, analyze, and leverage customer data to improve customer service and target customers with relevant product offers through various digital communication channels.
Customer Relationship Management (CRM) is a business strategy that aims to understand customer needs in order to build valuable relationships. There are different types of CRM including analytical, collaborative, operational, geographic, and sales intelligence. CRM involves becoming customer-focused, adapting to customer needs, researching customers, and implementing appropriate technology and processes. The benefits of CRM include reduced costs, increased customer satisfaction, external focus, growth, and long-term profitability.
The document provides an overview of Customer Relationship Management (CRM). It discusses what CRM is, how it helps develop long-term relationships with customers and convert them through various stages of loyalty. The techniques include identifying prospects, converting them to customers, repeat customers, clients, advocates and partners. CRM aims to increase lifetime customer value. It also discusses how to introduce CRM in companies and the role of information technology.
CRM refers to Customer Relationship Management. It is a process that addresses all aspects of identifying customers, creating customer knowledge, building customer relationships and shaping their perceptions of the organization and its products. CRM aims to develop and maintain long-term relationships with strategically significant customers through an IT-enabled business strategy that optimizes profitability, revenue and customer satisfaction. Successful CRM requires gathering customer data from various touchpoints and analyzing it to gain insights to improve customer satisfaction and organizational performance.
Customer relationship management (CRM) is a technology that allows companies to manage relationships and interactions with customers. The goal of CRM is to improve business relationships by helping organizations stay connected to customers, streamline processes, and increase profitability. CRM systems collect customer data, organize it in a central location, and make it accessible to help collaborate and provide personalized customer experiences from marketing to sales to customer service. Following the customer lifecycle, the CRM process aims to acquire customers, convert them, retain them, and build loyalty through targeted communications and activities at each stage.
Marketing consists of activities that direct the flow of goods and services from producers to consumers. Customer relationship management (CRM) is a strategy and process for managing relationships with customers that aims to benefit the organization and stakeholders. It involves understanding customers, interacting with them through various channels, and maintaining the current and future value of customers over time.
Customer Relationship Management (CRM) is a strategy for managing a company's interactions and relationships with customers using technology to organize customer data. CRM aims to acquire new customers, enhance existing customer relationships through personalized service, and retain customers. It involves identifying the best customers, generating sales leads, and implementing targeted marketing campaigns. CRM software and tools help companies learn customer needs, build relationships, and provide customer service. The goal is to increase efficiency, minimize costs, and attract and retain customers.
Customer Relationship Management (CRM) is a comprehensive strategy and process to acquire, retain, and partner with selective customers. It focuses on putting customers at the core of a company's processes and practices through strategic planning, marketing techniques, and relationship building. CRM uses technology to achieve ongoing dialogue with customers across all contact points and provide personalized treatment to valuable customers to increase retention and marketing effectiveness. It involves targeting, understanding, attracting, qualifying, and developing loyal customers over their lifetime with a company.
ADVICE TO ALL EMPLOYEES
1. Build a home earlier. Be it rural home or urban home. Building a house at 50 is not an achievement. Don't get used to government houses. This comfort is so dangerous. Let all your family have good time in your house.
2. Go home. Don't stick at work all the year. You are not the pillar of your department. If you drop dead today, you will be replaced immediately and operations will continue. Make your family a priority.
3. Don't chase promotions. Master your skills and be excellent at what you do. If they want to promote you, that's fine if they don't, stay positive to your personal.
development.
4. Avoid office or work gossip. Avoid things that tarnish your name or reputation. Don't join the bandwagon that backbites your bosses and colleagues. Stay away from negative gatherings that have only people as their agenda.
5. Don't ever compete with your bosses. You will burn your fingers. Don't compete with your colleagues, you will fry your brain.
6. Ensure you have a side business. Your salary will not sustain your needs in the long run.
7. Save some money. Let it be deducted automatically from your payslip.
8. Borrow a loan to invest in a business or to change a situation not to buy luxury. Buy luxury from your profit.
9. Keep your life,marriage and family private. Let them stay away from your work. This is very important.
10. Be loyal to yourself and believe in your work. Hanging around your boss will alienate you from your colleagues and your boss may finally dump you when he leaves.
11. Retire early. The best way to plan for your exit was when you received the employment letter. The other best time is today. By 40 to 50 be out.
12. Join work welfare and be an active member always. It will help you a lot when any eventuality occurs.
13.Take leave days utilize them by developing yr future home or projects..usually what you do during yr leave days is a reflection of how you'll live after retirement..If it means you spend it all holding a remote control watching series on Zee world, expect nothing different after retirement.
14. Start a project whilst still serving or working. Let your project run whilst at work and if it doesn't do well, start another one till it's running viably. When your project is viably running then retire to manage your business. Most people or pensioners fail in life because they retire to start a project instead of retiring to run a project.
15. Pension money is not for starting a project or buy a stand or build a house but it's money for your upkeep or to maintain yourself in good health. Pension money is not for paying school fees or marrying a young wife but to look after yourself.
16. Always remember, when you retire never be a case study for living a miserable life after retirement but be a role model for colleagues to think of retiring too.
17. Don't retire just because you are finished or you are now a burden to the company and just wait for your day t
Entrepreneurship Short Note.pptx for Business Studentsetebarkhmichale
Success demands these 6 things..
(The Secret Formula)
1. Hard Work
Don't believe in luck, believe in hard work.
Stop trying to rush the process or searching for a shortcut.
There is none.
2. Patience
If you are losing the patience, you are losing the battle.
First nothing happens, then it happens slowly and suddenly all at once.
Most people give up at stage one.
3. Sacrifice
If you don't sacrifice for what you want, then what you want becomes the sacrifice.
Everything has its price. The question is: Are you ready to pay it for the life you desire?
4. Consistency
Consistency is what transforms average into excellence.
Without consistency, you will never achieve greater success.
5. Discipline
Motivation gets you going, but discipline keeps you growing.
There will be days when you don't “feel” like doing it.
You have to push through those days regardless of how you feel.
6. Self Confidence
Confidence is, I'll be fine if they don't like me.
GOD BLESS YOU🙏❤️
EYA Oliver Uchenna®️
Success demands these 6 things..
(The Secret Formula)
1. Hard Work
Don't believe in luck, believe in hard work.
Stop trying to rush the process or searching for a shortcut.
There is none.
2. Patience
If you are losing the patience, you are losing the battle.
First nothing happens, then it happens slowly and suddenly all at once.
Most people give up at stage one.
3. Sacrifice
If you don't sacrifice for what you want, then what you want becomes the sacrifice.
Everything has its price. The question is: Are you ready to pay it for the life you desire?
4. Consistency
Consistency is what transforms average into excellence.
Without consistency, you will never achieve greater success.
5. Discipline
Motivation gets you going, but discipline keeps you growing.
There will be days when you don't “feel” like doing it.
You have to push through those days regardless of how you feel.
6. Self Confidence
Confidence is, I'll be fine if they don't like me.
GOD BLESS YOU🙏❤️
EYA Oliver Uchenna®️
Success demands these 6 things..
(The Secret Formula)
1. Hard Work
Don't believe in luck, believe in hard work.
Stop trying to rush the process or searching for a shortcut.
There is none.
2. Patience
If you are losing the patience, you are losing the battle.
First nothing happens, then it happens slowly and suddenly all at once.
Most people give up at stage one.
3. Sacrifice
If you don't sacrifice for what you want, then what you want becomes the sacrifice.
Everything has its price. The question is: Are you ready to pay it for the life you desire?
4. Consistency
Consistency is what transforms average into excellence.
Without consistency, you will never achieve greater success.
5. Discipline
Motivation gets you going, but discipline keeps you growing.
There will be days when you don't “feel” like doing it.
You have to push through those days regardless of how you feel.
It is an approach to manage a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.
This document discusses customer relationship management (CRM). It defines CRM as a business strategy to understand, anticipate, and respond to customer needs to grow relationships. There are five types of CRM: analytical, collaborative, operational, geographic, and sales intelligence. The purpose of CRM is to create value for customers and the company. Implementing CRM requires a strategic review and addressing infrastructure, vendors, and future needs. Technology like loyalty cards and CRM software help gather customer data to personalize service. Benefits include reduced costs, increased satisfaction, and long term profitability.
CRM stands for Customer Relationship Management. The document discusses several key points about CRM:
- CRM is about developing and maintaining profitable relationships with customers to gain a competitive advantage over competitors offering similar products and prices.
- CRM aims to increase customer loyalty and improve business profitability through identifying, acquiring, and retaining customers using information technology.
- The objectives of CRM include improving customer satisfaction, expanding the customer base, enhancing business sales, and improving workforce productivity.
Customer relationship management (CRM) relies on customer data to create customer loyalty. CRM was developed as a tool to manage customer data using IT techniques. The purpose of CRM is to improve marketing productivity through collaborative processes that reduce costs. Key aspects of CRM include differentiating customers, developing offerings for each customer type, keeping existing customers satisfied, maximizing lifetime customer value, and increasing customer loyalty.
Customer Relationship Management unit 3 crm structuresGanesha Pandian
The document discusses Customer Relationship Management (CRM) and provides information on key aspects of implementing a successful CRM strategy. It defines CRM and outlines its goals of increasing profitability through customer satisfaction and loyalty. The document also discusses CRM essentials, the CRM implementation process, customer acquisition strategies, retention tactics, and developing a CRM roadmap.
The document discusses customer relationship management (CRM) and electronic customer relationship management (eCRM). It outlines several key aspects of CRM, including acquiring and retaining customers, increasing customer satisfaction and loyalty, understanding customer needs and behaviors, and using marketing campaigns and technologies like data analysis to improve customer interactions and relationships. The document then discusses how eCRM uses electronic channels like websites and messaging to connect with customers and enhance the customer experience across different customer touchpoints. It emphasizes integrating online channels with traditional channels to implement a holistic CRM strategy.
Customer Relationship Management (CRM) is a business strategy focused on optimizing customer relationships. It involves using technology to streamline customer interactions and maximize customer satisfaction. The document discusses the concept of CRM, its features and objectives, the evolution of CRM approaches over time, types of CRM systems, and the future of CRM. It also provides an overview of the typical architecture of a CRM system. The overall aim of CRM is to enhance the customer experience through integration of customer data and insights to benefit both businesses and customers.
The document provides information about customer relationship management (CRM). It begins with defining CRM as an approach to managing a company's interactions with current and future customers by analyzing customer data to improve business relationships and customer retention. It then discusses key CRM concepts like customer value, expectations, satisfaction, acquisition, retention, loyalty and lifetime value. Specific examples of how Amazon and Apple use CRM strategies like data collection, personalization and recommendations are also provided. The document aims to explain the evolution and importance of CRM for business growth and customer focus.
Salesforce CRM is today’s popular cloud-based CRM which is preferably improving the business standards worldwide. Salesforce training has been increasing the chances of various business owners to move their companies to peak grades in the market. However, having a knowledge on CRM and its types helps one to understand and efficiently use any kind of it for the appropriate purpose.
Notes
13 Teams
__
Average talent teams that get along well with each other are more productive than gifted teams that don’t get along. It doesn’t matter how well a team with low emotional intelligence is in control of the numbers. They can’t even decide what to try to do.
14 Stress
___
Difficulties at work and in our relationships put us under stress. Stress makes it difficult for us to find solutions to problems. When we can’t find solutions to problems, we get more stressed. To get rid of this dead end, we need to know how to manage our stressful situations.
15 Marriage
____
The secret of long and happy marriages is sincerity in your feelings. If your marriage was not built on this basis of intimacy from the very beginning, it will begin to crack over the years. Even small problems become unsolvable. You have to be emotionally open at the beginning of the road.
16 Leadership
______
Leadership does not mean dominance. Leading your colleagues to a common goal and making them believe in the reality of this purpose. Successful leaders are those who can keep their team’s motivation alive for many years. You have to make them desire the work to be done.
17. Emotions Are All Normal
___
Anger, hatred, love, happiness… You can understand when and under what circumstances these feelings will emerge by following yourself. You may have these feelings depending on how you interpret the events you encounter. The important thing is to be able to react independently of your feelings. You may find yourself making promises that you cannot keep because you are happy, or you may resort to violence when you are angry.
18/ Being able to Express Your Emotions
____
Not everyone’s level of empathy can be very good. You may be in a difficult situation immediately. You may feel bad, but people may not understand it. In these situations, you may need to express your feelings a little more directly.
19/You Are Not Your Emotions
______
Keep doing what you need to do, no matter how you feel. Success is achieved by people who cannot give up no matter what their feelings and thoughts are. Don’t let your feelings affect your actions.
20/ Timing
__
As soon as you feel a different emotion, try to think before you act. Because emotional intelligence moves faster than rational intelligence, it can make you act irrationally and make you say any unnecessary words.
Thanks for reading
~ 𝗧𝗼𝗻𝗴𝘀𝗮 𝗚𝘂𝘆
Book:- https://amzn.to/3XsVTz2.
The document provides an overview of customer relationship management (CRM). It defines CRM as a business strategy to understand customer needs in order to grow relationships and value. CRM involves processes to track and organize interactions with current and potential customers. The goals of CRM are to maximize loyalty by identifying profitable customers and satisfying their needs. CRM has evolved from mass marketing to more targeted and personalized approaches through customer data analysis. Building customer satisfaction, loyalty, and positive experiences are important aspects of retaining customers and driving business growth.
Customer Relationship Management (CRM) is an approach that companies take to manage interactions with current and potential customers. It involves understanding customer needs and preferences at each stage of the customer lifecycle in order to develop long-term and profitable relationships. CRM provides tools for market research, product development, customer segmentation and more to help companies gain a competitive advantage. Effective CRM relies on understanding customer expectations, building partnerships, empowering employees and obtaining customer feedback.
Customer Relationship Management (CRM) aims to establish long-term relationships with customers through personalized interactions rather than short-term transactions. It focuses on customizing products and services to individual customer needs, preferences, and expectations rather than employing standardized mass marketing techniques. CRM uses customer data collected from interactions over time through various channels to understand each customer and maximize their lifetime value to the company. Information technology plays a key role in powering CRM strategies by enabling companies to collect, analyze, and leverage customer data to improve customer service and target customers with relevant product offers through various digital communication channels.
Customer Relationship Management (CRM) is a business strategy that aims to understand customer needs in order to build valuable relationships. There are different types of CRM including analytical, collaborative, operational, geographic, and sales intelligence. CRM involves becoming customer-focused, adapting to customer needs, researching customers, and implementing appropriate technology and processes. The benefits of CRM include reduced costs, increased customer satisfaction, external focus, growth, and long-term profitability.
The document provides an overview of Customer Relationship Management (CRM). It discusses what CRM is, how it helps develop long-term relationships with customers and convert them through various stages of loyalty. The techniques include identifying prospects, converting them to customers, repeat customers, clients, advocates and partners. CRM aims to increase lifetime customer value. It also discusses how to introduce CRM in companies and the role of information technology.
CRM refers to Customer Relationship Management. It is a process that addresses all aspects of identifying customers, creating customer knowledge, building customer relationships and shaping their perceptions of the organization and its products. CRM aims to develop and maintain long-term relationships with strategically significant customers through an IT-enabled business strategy that optimizes profitability, revenue and customer satisfaction. Successful CRM requires gathering customer data from various touchpoints and analyzing it to gain insights to improve customer satisfaction and organizational performance.
Customer relationship management (CRM) is a technology that allows companies to manage relationships and interactions with customers. The goal of CRM is to improve business relationships by helping organizations stay connected to customers, streamline processes, and increase profitability. CRM systems collect customer data, organize it in a central location, and make it accessible to help collaborate and provide personalized customer experiences from marketing to sales to customer service. Following the customer lifecycle, the CRM process aims to acquire customers, convert them, retain them, and build loyalty through targeted communications and activities at each stage.
Marketing consists of activities that direct the flow of goods and services from producers to consumers. Customer relationship management (CRM) is a strategy and process for managing relationships with customers that aims to benefit the organization and stakeholders. It involves understanding customers, interacting with them through various channels, and maintaining the current and future value of customers over time.
Customer Relationship Management (CRM) is a strategy for managing a company's interactions and relationships with customers using technology to organize customer data. CRM aims to acquire new customers, enhance existing customer relationships through personalized service, and retain customers. It involves identifying the best customers, generating sales leads, and implementing targeted marketing campaigns. CRM software and tools help companies learn customer needs, build relationships, and provide customer service. The goal is to increase efficiency, minimize costs, and attract and retain customers.
Customer Relationship Management (CRM) is a comprehensive strategy and process to acquire, retain, and partner with selective customers. It focuses on putting customers at the core of a company's processes and practices through strategic planning, marketing techniques, and relationship building. CRM uses technology to achieve ongoing dialogue with customers across all contact points and provide personalized treatment to valuable customers to increase retention and marketing effectiveness. It involves targeting, understanding, attracting, qualifying, and developing loyal customers over their lifetime with a company.
ADVICE TO ALL EMPLOYEES
1. Build a home earlier. Be it rural home or urban home. Building a house at 50 is not an achievement. Don't get used to government houses. This comfort is so dangerous. Let all your family have good time in your house.
2. Go home. Don't stick at work all the year. You are not the pillar of your department. If you drop dead today, you will be replaced immediately and operations will continue. Make your family a priority.
3. Don't chase promotions. Master your skills and be excellent at what you do. If they want to promote you, that's fine if they don't, stay positive to your personal.
development.
4. Avoid office or work gossip. Avoid things that tarnish your name or reputation. Don't join the bandwagon that backbites your bosses and colleagues. Stay away from negative gatherings that have only people as their agenda.
5. Don't ever compete with your bosses. You will burn your fingers. Don't compete with your colleagues, you will fry your brain.
6. Ensure you have a side business. Your salary will not sustain your needs in the long run.
7. Save some money. Let it be deducted automatically from your payslip.
8. Borrow a loan to invest in a business or to change a situation not to buy luxury. Buy luxury from your profit.
9. Keep your life,marriage and family private. Let them stay away from your work. This is very important.
10. Be loyal to yourself and believe in your work. Hanging around your boss will alienate you from your colleagues and your boss may finally dump you when he leaves.
11. Retire early. The best way to plan for your exit was when you received the employment letter. The other best time is today. By 40 to 50 be out.
12. Join work welfare and be an active member always. It will help you a lot when any eventuality occurs.
13.Take leave days utilize them by developing yr future home or projects..usually what you do during yr leave days is a reflection of how you'll live after retirement..If it means you spend it all holding a remote control watching series on Zee world, expect nothing different after retirement.
14. Start a project whilst still serving or working. Let your project run whilst at work and if it doesn't do well, start another one till it's running viably. When your project is viably running then retire to manage your business. Most people or pensioners fail in life because they retire to start a project instead of retiring to run a project.
15. Pension money is not for starting a project or buy a stand or build a house but it's money for your upkeep or to maintain yourself in good health. Pension money is not for paying school fees or marrying a young wife but to look after yourself.
16. Always remember, when you retire never be a case study for living a miserable life after retirement but be a role model for colleagues to think of retiring too.
17. Don't retire just because you are finished or you are now a burden to the company and just wait for your day t
Entrepreneurship Short Note.pptx for Business Studentsetebarkhmichale
Success demands these 6 things..
(The Secret Formula)
1. Hard Work
Don't believe in luck, believe in hard work.
Stop trying to rush the process or searching for a shortcut.
There is none.
2. Patience
If you are losing the patience, you are losing the battle.
First nothing happens, then it happens slowly and suddenly all at once.
Most people give up at stage one.
3. Sacrifice
If you don't sacrifice for what you want, then what you want becomes the sacrifice.
Everything has its price. The question is: Are you ready to pay it for the life you desire?
4. Consistency
Consistency is what transforms average into excellence.
Without consistency, you will never achieve greater success.
5. Discipline
Motivation gets you going, but discipline keeps you growing.
There will be days when you don't “feel” like doing it.
You have to push through those days regardless of how you feel.
6. Self Confidence
Confidence is, I'll be fine if they don't like me.
GOD BLESS YOU🙏❤️
EYA Oliver Uchenna®️
Success demands these 6 things..
(The Secret Formula)
1. Hard Work
Don't believe in luck, believe in hard work.
Stop trying to rush the process or searching for a shortcut.
There is none.
2. Patience
If you are losing the patience, you are losing the battle.
First nothing happens, then it happens slowly and suddenly all at once.
Most people give up at stage one.
3. Sacrifice
If you don't sacrifice for what you want, then what you want becomes the sacrifice.
Everything has its price. The question is: Are you ready to pay it for the life you desire?
4. Consistency
Consistency is what transforms average into excellence.
Without consistency, you will never achieve greater success.
5. Discipline
Motivation gets you going, but discipline keeps you growing.
There will be days when you don't “feel” like doing it.
You have to push through those days regardless of how you feel.
6. Self Confidence
Confidence is, I'll be fine if they don't like me.
GOD BLESS YOU🙏❤️
EYA Oliver Uchenna®️
Success demands these 6 things..
(The Secret Formula)
1. Hard Work
Don't believe in luck, believe in hard work.
Stop trying to rush the process or searching for a shortcut.
There is none.
2. Patience
If you are losing the patience, you are losing the battle.
First nothing happens, then it happens slowly and suddenly all at once.
Most people give up at stage one.
3. Sacrifice
If you don't sacrifice for what you want, then what you want becomes the sacrifice.
Everything has its price. The question is: Are you ready to pay it for the life you desire?
4. Consistency
Consistency is what transforms average into excellence.
Without consistency, you will never achieve greater success.
5. Discipline
Motivation gets you going, but discipline keeps you growing.
There will be days when you don't “feel” like doing it.
You have to push through those days regardless of how you feel.
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Digital Lendings Relationship Officer
Expired 5 months ago!
Related Jobs
Banking and Insurance Jobs Senior Level Jobs Dashen Bank S.C Jobs
Job Description:
Digital Lendings Relationship Officer
Place of work- Addis Ababa
DB/ Vacancy-0077/23
Job Summary
Digital Lendingss Relationship Officer is Responsible for assisting Digital Lenging Relationship Manager in the process of relationship and partnership creation and management, and product & digital lending business development and enhancement to deliver best quality service to customers with the expectation of increasing profitability and/or reducing operational expense and risks of different nature, ensure health-check of the different digital value propositions, compliance to regulatory directions, take proactive measures to identify early warning signals to keep management informed.
Job Requirements:
Academic & Professional Qualification
Economics, and/or related fields is an added advantage.
Bachelor Degree in Accounting, Economics, Business Administration, Management, Marketing Managerment, and/or related fields.
Master’s in Accounting, Economics, Business Administration, Management, Marketing Management, and/or related fields is an added advantage.
Experience
Minimum of 4 (four) years relevant work experience on similar roles.
Behavioral & Leadership Competency
Leadership and people management including performance management, coaching & mentoring.
Demonstrated business acumen - able to create strategy and actions that impact business success.
High-level interpersonal and cross-cultural skills, including ability to build consensus, alliances and collaborative relationships with sensitivity to diversity/inclusion.
Creativity and innovation skills, with ability to use technology and other modern tools to drive decision making and implementation.
Strategic thinking and decision making- ability to consider emerging trends/developments and long-term opportunities for Dashen Bank.
Professionalism and integrity in line with Dashen Bank values.
High-level oral and written communication skills.
Critical and analytical thinking and problem solving skills
Personal motivation and drive exhibited through commitment to hard work, continuous improvement and achievement of goals.
Good customer relationship management skills (internal and external customers)
Risk awareness and focus- demonstrates understanding of risk management practices, standards and regulatory requirements
Effective stakeholder management.
Required Technical Competency
Experience working cross-functionally to develop new ideas and
Register
Navigation
Jobs
Latest Jobs
Login
Register
Courses
Advice
Employers
Copyright 2023. All Rights Reserved.
Get In Touch
Snap Plaza 8th floor, Bole Next to The Millennium hall. Addis Ababa, Ethiopia
info@ethiojobs.net
+251-116-67-33-24
+251-924-91-08-47
Get Social
Facebook
Twitter
LinkedIn
YouTube
Telegram
Links
About Us
Contact Us
FAQs
Copyright 2023. All Rights Reserved.
Digital Lendings Relationship Officer
Expired 5 months ago!
Related Jobs
Banking and Insurance Jobs Senior Level Jobs Dashen Bank S.C Jobs
Job Description:
Digital Lendings Relationship Officer
Place of work- Addis Ababa
DB/ Vacancy-0077/23
Job Summary
Digital Lendingss Relationship Officer is Responsible for assisting Digital Lenging Relationship Manager in the process of relationship and partnership creation and management, and product & digital lending business development and enhancement to deliver best quality service to customers with the expectation of increasing profitability and/or reducing operational expense and risks of different nature, ensure health-check of the different digital value propositions, compliance to regulatory directions, take proactive measures to identify early warning signals to keep management informed.
Job Requirements:
Academic & Professional Qualification
Economics, and/or related fields is an added advantage.
Bachelor Degree in Accounting, Economics, Business Administration, Management, Marketing Managerment, and/or related fields.
Master’s in Accounting, Economics, Business Administration, Management, Marketing Management, and/or related fields is an added advantage.
Experience
Minimum of 4 (four) years relevant work experience on similar roles.
Behavioral & Leadership Competency
Leadership and people management including performance management, coaching & mentoring.
Demonstrated business acumen - able to create strategy and actions that impact business success.
High-level interpersonal and cross-cultural skills, including ability to build consensus, alliances and collaborative relationships with sensitivity to diversity/inclusion.
Creativity and innovation skills, with ability to use technology and other modern tools to drive decision making and implementation.
Strategic thinking and decision making- ability to consider emerging trends/developments and long-term opportunities for Dashen Bank.
Professionalism and integrity in line with Dashen Bank values.
High-level oral and written communication skills.
Critical and analytical thinking and problem solving skills
Personal motivation and drive exhibited through commitment to hard work, continuous improvement and achievement of goals.
Good customer relationship management skills (internal and external customers)
Risk awareness and focus- demonstrates understanding of risk management practices, standards and regulatory requirements
Effective stakeholder management.
Required Technical Competency
Experience working cross-functionally to develop new ideas and
Financial management for Business CoursesPPT.pptetebarkhmichale
The Commercial Bank of Ethiopia has been becoming a leader, pioneer, and role model for the country's financial industry, especially the banking industry. Currently, it aspires “to become a world-class commercial bank, financially driving Ethiopia’s future'', and it is working to provide banking services tailored to the needs of its esteemed customers. The bank has carried out a comprehensive assessment and strategy design work and drawn a business reform road map. Based on the assessment, reforms and organizational restructurings have been done. Accordingly, the bank has introduced a new customer-centric business model and undertaken amendments to its organizational structure in order to render effective service based on customer segments. Following this, new divisions and departments were established; the Micro Business Banking under the Wholesale Banking Division was established to address the banking needs of all individual and non-individual businesses.
The main objective of the department was to provide financing access to microbusiness customers. Since the number of microbusiness customers is very high, using digital channels has been considered an essential alternative. Due to this, the department has been assigned to provide digital micro saving and lending, which is the most efficient and effective form.
The strategic initiatives planned to achieve the department’s objectives have been successfully implemented, and the DMSL service is under a pilot test. However, there have been some problems that could be fixed only by restructuring the department, and the current structure is not conducive to providing successful digital loans. The digital lending being in a pilot test is also not going according to plan, and its performance status is not satisfactory. Due to those situations, I have been initiated to come up with this concept note, and I hope you will enrich and work on it to provide a successful solution.
2. Background
Technological advancements have significantly transformed the way services are delivered, leading to a shift in customer expectations and demands. Financial services are now focusing on providing seamless digital banking transactions and personalized engagements. Digital lending platforms are making lending easier, more accessible, and more efficient. Commercial Bank of Ethiopia (CBE) is leading in achieving national financial inclusion by establishing dedicated departments and implementing initiatives to improve the customer experience. This concept note proposes a structural adjustment for the recently established department called micro business banking department established under the wholesale banking division. The detail background leads me to this initiative is detailed as follow.
2.1. Micro Business Banking
CBE has established a department called Micro Business dedicated to microenterprise customers. According to the customer segmentation procedure of the bank, “Micro Business Banking” means a banking s
English Email Writing byme- at work place ppt pptxetebarkhmichale
Understanding the Structure of a Successful Digital Credit Provider in Kenya.
Kenya's financial services sector is embracing FinTech, with digital credit providers like Tala, Zenka Digital, and Ksmart leveraging AI, machine learning, robotic process automation, data analytics, and blockchain. A fintech in the lending space may cater to various kinds of product offerings, which can be broadly categorized as follows:
1. Consumer loans
2. Personal loans
3. Business or MSME (Micro, Small, and Medium Enterprise) loans
1. What are the critical back-end tech solutions/integrations needed?
1. Customer acquisition
2. Application, website, and/or app
3. Verification APIs
4. Credit underwriting/ Scorecards/Fraud detection
5. Credit Bureau Integration
6. Automatic analysis of qualitative factors
7. Disbursement/Repayment
8. Collection/Recovery
9. Loan Management System (LMS)/Accounting
10. Legal
Let's delve deeper into each of the above for a deeper understanding.
1.1. Customer acquisition
Drawing in customers is a top priority for any fintech. There are various methods or sources through which a DCP acquires its customers. The customer acquisition process may differ for each lending institution depending on their product, the area in which they operate, the customer profile, etc. To attract potential borrowers, leverage digital marketing strategies, social media, and partnerships with relevant platforms. Focus on providing a seamless user experience to make your platform stand out from existing or traditional lenders.
1.2. Application, website, app or USSD
Develop a user-friendly and intuitive digital platform for borrowers to apply for loans easily. Mobile apps have become increasingly popular in Fintech, allowing users to access services conveniently. Consider application login through Gmail, social media, and so on to enable the user to seamlessly log in to the mobile application for the website without creating any new login credentials. At the same time, this also provides the Fintech with the profile of the loan applicant. Do you need customers to upload documents for KYC/AML verification? Ensure your platform allows uploading these documents and has back-end integration to verify the documents' authenticity. Consider using the different available Optical Recognition Technologies (OCR), which should be able to read the data from the documents provided and create the text. For verification and authentication of the information in the documents, the Fintech can develop its software and subscribe to various services or do an API integration with a service provider who can provide such services. The main goal is to give users a comfortable journey, so they must manually type minimum information.
1.3. Verifying APIs
Integrated person’s registry system (IPRS) is Kenya'sKenya's reputed organization providing APIs for KYC, Identity, etc., suitable for all lending businesses. The IPRS system aims to consolidate population information into a
Introduction
In life, there are universal laws that govern everything we do. These laws are so perfect that if you were to align yourself with them, you could have so much prosperity that it would be coming out of your ears. This is because God created the universe in the image and likeness of him. It is failure to follow the universal laws that causes one to fail. The laws that were created consisted of the following: ·
Law of Gratitude: The Law of Gratitude states that you must show gratitude for what you have. By having gratitude, you speed your growth and success faster than you normally would. This is because if you appreciate the things you have, even if they are small things, you are open to receiving more.
Law of Attraction: The Law of Attraction states that if you focus your attention on something long enough you will get it. It all starts in the mind. You think of something and when you think of it, you manifest that in your life. This could be a mental picture of a check or actual cash, but you think about it with an image.
Law of Karma: the Law of Karma states that if you go out and do something bad, it will come back to you with something bad. If you do well for others, good things happen to you. The principle here is to know you can create good or bad through your actions. There will always be an effect no matter what.
Law of Love: the Law of Love states that love is more than emotion or feeling; it is energy. It has substance and can be felt. Love is also considered acceptance of oneself or others. This means that no matter what you do in life if you do not approach or leave the situation out of love, it won't work.
Law of Allowing: The Law of Allowing states that for us to get what we want, we must be receptive to it. We can't merely say to the Universe that we want something if we don't allow ourselves to receive it. This will defeat our purpose for wanting it in the first place.
Law of Vibration: the Law of Vibration states that if you wish on something and use your thoughts to visualize it, you are halfway there to get it. To complete the cycle you must use the Law of Vibration to feel part of what you want. Do this and you'll have anything you want in life.
For everything to function properly there has to be structure. Without structure, our world, or universe, would be in utter chaos. Successful people understand universal laws and apply them daily. They may not acknowledge that to you, but they do follow the laws. There is a higher power and this higher power controls the universe and what we get out of it. People who know this, but wish to direct their own lives, follow the reasons. Successful people don't sit around and say "I'll try," they say yes and act on it.
Chapter - 1
The Law of Attraction
The law of attraction is the most powerful force in the universe. If you work against it, it can only bring you pain and misery. Successful people know this but have kept it hidden from the lower class for centuries because th
Power of Personal Appearance
Image management is the ongoing process of evaluating and controlling the impact of your appearance and the resulting response on you and others.
The concept of image management applies to anyone who has ever needed to improve self-image, self-esteem, self-confidence, capability and credibility. It applies to anyone who has ever wanted to get an idea across to someone else, to influence opinion or action is it in the home, school, church, community or business setting. It is creating an authentic, appropriate, attractive, and affordable image. Intelligence, knowledge, ability, initiative, and effort are vital to success of any kind, but regardless of whom you are, how old, and what your role or goal, ongoing image management can give you the personal/professional presence you need.
As an individual living and working in a highly complex and competitive society, you must recognize and understand the impact of your appearance as it communicates first to you and then to others. What you wear and the way you look affects:
1. The Way You Think
You can’t afford to think negatively about yourself due to some aspect of your appearance. When you appear authentic, attractive, and appropriate, you think more positively about yourself, your situation, and others.
2. The Way You Feel
You can’t afford to feel depressed, unproductive, uncomfortable, antagonistic, argumentative, self-conscious, inferior, or full of self-doubt. A positive personal appearance is a fast, effective way to boost self-confidence and overcome anxiety regarding ability or acceptance. When you appear attractively dressed and groomed, personally authentic, and appropriate for the occasion, you feel more comfortable, confident, capable, cooperative and productive.
3. The Way You Act or Behave
You can’t afford to act awkward, insecure, submissive, out-of-place, or out-of-order. Nor can you afford to act defensive, arrogant, aggressive, affected, superior, or conceited. A positive personal appearance is one of the most effective ways to improve behavior and enhance performance level or productivity. When you appear attractively dressed and groomed, personally authentic, and appropriate for the occasion, you act more secure, at ease, mannerly, competent, and naturally able to do your best.
4. The Way Others React and Respond to You
Your appearance is the one personal characteristic that is immediately obvious and accessible to others. You can’t hide it. Your appearance makes a strong statement about your personality, values, attitudes, interests, knowledge, abilities, roles, and goals. You can’t afford to be seen as disrespectful, antagonistic, affected, scatterbrained, irresponsible, ineffective, or unproductive. You can’t afford to create a negative impression or to build barriers between you and others because of unattractive, inappropriate, distracting, or offensive appearance.
When you appear attractively dressed and groomed, personally authentic, and ap
Email Writting Guideline Follow step by step PPT.pptxetebarkhmichale
Digital credit process and the steps to obtain an instant loan
𝙰𝚕𝚎𝚖𝚊𝚢𝚎𝚑𝚞 𝚂𝚒𝚖𝚎𝚗𝚎𝚑
𝙰𝚕𝚎𝚖𝚊𝚢𝚎𝚑𝚞 𝚂𝚒𝚖𝚎𝚗𝚎𝚑
𝙰𝚕𝚎𝚖𝚊𝚢𝚎𝚑𝚞 𝚂𝚒𝚖𝚎𝚗𝚎𝚑
Digital Marketing Manager @ Bank of Abyssinia | Marketing Management MA
Published Jul 9, 2023
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Digital Lending has made it possible for many people to access the funds they need quickly and securely, without having to worry about paperwork or trips to physical banks and collateral. With competitive rates, flexible repayment plans, and fast disbursement of funds – digital lending is changing the way we view financing.
Digital lending is the process of obtaining a loan online through digital channels such as mobile apps and websites. And, this process has been gaining popularity in recent years in our country due to its convenience and ease of use. There are noteworthy examples of this. One is Michu, a platform by the Cooperative Bank of Oromia that offers credit based on a borrower's score. It specifically provided for micro, small, and medium enterprises (MSMEs). Another is Telebirr's different types of microloan services offered in collaboration with Dashen Bank. This service allows users to obtain small loans without needing collateral, using their credit score as a basis. Additionally, the Bank of Abyssinia's different Apollo instant digital loans, which is set to launch this month.
The digital credit process typically consists of the following major activities. And, the borrower will need to research and compare the existing digital lending platforms to find one that suits his needs. He should consider factors such as service charges, interest rates, loan terms, eligibility criteria, and customer reviews.
Create an account: Once the borrower has selected a provider, he will need to create an account on their platform. This typically involves providing basic personal information (name, address, phone number, email) and setting up a username and password.
Loan Application: Once he has chosen a lender, the borrower will need to fill out an online application form. This typically involves providing personal information (like name and address), financial information (such as income, employment status, and outstanding debts), and the purpose of the loan.
Document Submission: After filling out the application, the borrower will usually need to submit supporting documents. These might include proof of identity, proof of income (like pay stubs or tax returns), and bank statements. Thanks to digital technology, these documents can often be uploaded directly to the platform.
Consent to a credit check: Most digital credit providers will perform a credit check as part of the application process. By agreeing to a credit check, the borrower needs to give the provider permission to access his credit history and score, which will be used to assess his creditworthiness.
Review the loan terms: If the application is approved, the provider will present the borrower with a loan offer,
Digital Lending Platform: The only guide you’ll ever need(https://moba.finance/what-is-digital-lending-platform/)
New changes in rates, regulations, competitions, and new technologies all the more increase this pressure of digital lending. Banks need a new lending technology to rapidly adapt to market shifts and stay ahead of competitors.
Fortunately, a Digital Lending Platform can help banks address all those challenges.
What is Digital Lending Platform
A Digital Lending Platform automates the journey from application to disbursement for any lending product—be it mortgages, consumer loans, or deposit accounts.
With Digital Lending Platforms, banks can acquire and assess customers faster while enhancing back-office processes and reducing costs. It helps banks solve these challenges by delivering an all-in-one place to manage individual customers’ lending journey—from application, underwriting, to disbursement and collection.
In today’s everything-digital world, customers are so used to the seamless and intuitive shopping experience from Momo, Shopee, and Grab. They expect the same thing from lending. Customers demand the ability to apply for loans and are disbursed online via digital platforms, without having to visit the physical branch.
Below are some of the capabilities of a Digital Lending Platform:
Seamless customer experiences from application to collection
With the Digital Lending Platform, your potential lenders can use any device—be it the mobile phone, tablet, or desktop—to apply for loans and complete the follow-up tasks to receive the disbursement. The platform supports everything involved in the lending workflow, which involves connecting to their bank account, uploading documents, completing the eKYC process, providing e-signature, … All that is customizable to meet banks’ unique requirements.
Role-based tools for loan officers
A Digital Lending Platform provides each officer with a digital workspace to support lenders. The workspace typically includes interfaces for managing applications, communicating with customers online to complete follow-ups, providing settlement and closing services, and engaging with referral partners.
Automated verification and accuracy checks
By directly connecting to financial data sources, the digital lending platform helps banks eliminate the use of paper. It makes approvals faster and reduces fraud risk by integrating a wide range of eKYC solutions to verify customers’ identity, assets, employment, and income.
Data-driven workflows and automated decisioning
The Digital Lending Platform applies workflows that loan officers can customize themselves without having to write codes. The result is that manual, paper-based processes are reduced significantly. Also, it can automate requests for information, which provides underwriters with accurate and up-to-date loan files to finalize credit decisioning. In addition, the platform can automatically apply bank’s credit policies to unlock more efficiency
Supply Chain Financing to MSMEs businesses PPT.pptetebarkhmichale
Bank
Management
In Africa, women entrepreneurs play a growing role in diversifying production and services. However, they are facing the problem of financial shortage; a recent report by the African Development Bank showed that there is an estimated $42 billion financing gap for female entrepreneurs in Africa. The study demonstrated that women are facing more difficult conditions than men entrepreneurs such as limited access to key resources (including land and credit), the legal and regulatory framework, and the socio-cultural environment. The economy's full potential cannot be realized if half of its population cannot fully contribute, and women have faced many hurdles in the entrepreneurship journey, prompting responsible bodies to devise affirmative solutions.
Ethiopia's female population is 49.8%, but small businesses owned by women only make up 16.5% of the total number of entrepreneurs. Limited access to finance, business networks, development services, and business management skills hinders women entrepreneurs. The government is promoting women entrepreneurs through initiatives like training and financial support. The Commercial Bank of Ethiopia (CBE) is introducing a customer-centric business model to cater to its customers' needs and values. The bank aims to increase the outreach of financial products and services to a larger population, particularly women who own business enterprises. The bank has established a micro business department to adjust itself with the micro business loan demanding customers. These factors can be considered as business drivers and factors enforcing CBE to come up with a gender-specific solution.
The micro business banking department conducted a feasibility study on financing women-owned Micro, Small and Medium Enterprises (MSMEs), and has proposed a collateral-free loan product to bridge the financial gap. In the feasibility study it has been also demonstrated that financing women owned MSMEs could promote financial inclusion and economic empowerment, boosting growth and forming the backbone of vibrant economies.
Therefore, this proposal aims to provide a method how CBE should finance for selected formal women-owned MSMEs in Ethiopia to alleviate their financing gap. It is being proposed that, the CBE shall start the product by making a pilot test for women-owned microbusinesses from Addis Ababa City Administration, with local stakeholders providing data, support, and training for three years. The bank could be benefited from implementing this proposal to attract and retain micro customers, penetrate the micro credit-market, and to adjust itself with the micro customers’ demand.
2. Objectives of the proposal
2.1. General Objectives
This proposal aims to provide customized microloans for women MSMEs to ensure equitable resource allocation and profitability for the bank.
2.2. Specific Objectives
• To play a major role in supporting and promoting women-owned MSMEs through availing useful and affordable loan
1.1. Nature and Definition of Auditing
Different scholars have defined auditing in different ways. For example, Auditing is a process of collection and evaluation of evidence for the purpose of reporting on economic transaction. The other definition of auditing given by the Institute of Chartered Accountants of India, in its publication titled, General Guidelines on Internal Auditing has defined auditing as ‘ a systematic and independent evaluation of data, statements, records, operations and performances ( financial or otherwise) of an enterprise for stated purpose. In any auditing situation, the auditor perceives and recognizes the propositions before him for examination, collects evidence, evaluates the same and on this basis formulates his/her judgment which is communicated through audit report.
As it is cited in Kanal Gupta and Arora A.(1996,p6), Arens and Loebbecke defined auditing as the process by which a complete, independent person accumulates and evaluates evidence about quantifiable information related to specific economic entity for the purpose of determining and reporting on the degree of correspondence between the quantifiable information and established criteria. To sum up, Auditing is the process of verifying the assertions produced by accounting, as to whether they present a true and fair view of the entity's financial position in accordance with accounting standards and GAAP. In other words, auditing seeks to verify whether or not financial records have been properly prepared.
Study Note
The term audit is derived from the Latin term ‘audire,’ which means to hear. In early days an auditor used to listen to the accounts read over by an accountant in order to check them Auditing is as old as accounting.
It was in use in all ancient countries such as Mesopotamia, Greece, Egypt. Rome, U.K. and India. The Vedas contain reference to accounts and auditing.
The original objective of auditing was to detect and prevent errors and frauds and most recently objective of audit shifted to ascertain whether the accounts were true and fair rather than detection of errors and frauds.
Auditing evolved and grew rapidly after the industrial revolution in the 18th century with the growth of the joint stock companies the ownership and management became separate.
The shareholders who were the owners needed a report from an independent expert on the accounts of the company managed by the board of directors who were the employees.
1.2. Historical Development of Auditing
The development of auditing is closely linked to the development of accounting. In the early stage of civilization, the number of transaction was usually so small that able to record the transactions himself. However, with the growth of civilization and consequential growth in volume and complexity of transactions, it becomes necessary to entrust the job of recording the transactions to other persons. The trend started with maintenance of accounts to empires by public officials
Today’s complex global challenges require partnerships across sectors and societies to achieve equitable and sustainable results for stakeholders and realize strategic objectives stipulated. The United Nations General Assembly defines partnerships as voluntary and collaborative relationship between various parties, both public and non-public, in which all participants agree to work together to achieve a common purpose or undertake a specific task and, as mutually agreed, to share risks, responsibilities, resources and benefits.
Alexander et al. (2001) also defines partnership as strategically formed relationship between organizations that involve varying degrees of resource sharing, joint decision making, and collaborative work to address common interests, and achieve shared goals. While there are many theoretically recognized benefits and advantages to partnerships, the answer to why one seeks to establish partnership is relatively simple. The presumption is that, there is added value in working with other organizations .
Strategically, the Commercial Bank of Ethiopia (CBE) has adopted partnering with developmental organs (Regional Organs) and collaboration institutions strategic response in crafting both local and foreign currency resource mobilization strategies.
A strategic partnering for CBE is nothing but it is a form of an agreement with government/public organs/Institutions under the theme of mutual growth and success. In other words, it is forming a strong relationship with organizations like governmental organs that have shared interest, vision, goal & objectives (development) in order to reach a new market and excel competitors/rivals by providing excellent banking services.
On the other hand, collaboration for CBE shall mean work with another organ in order to achieve or do something that sounds disarmingly simple and coordinating the efforts of employees and resource deployed in providing services and selling of products. Since then, it is struggling to implement these strategic responses accordingly at all level of the bank in the course of resource mobilization tasks.
According to the revised Deposit Mobilization Strategy for 2015/16-2019/20 outlines various strategic responses for deposit mobilization. Strengthening Collaboration with Development Partners is one of them. The document begins by stating the invaluable importance of strategic partners in the success of CBE over the past strategic periods and without the active support of partners, CBE’s deposit mobilization effort would have been very difficult, if not impossible.
But the strategy document stresses that it is not sufficient to sustain their support for long unless the CBE understands their interest or demand and support their area of concern as much as possible.
In 2017, CBE undertook an assessment on the possible areas of engagement with Developmental Partners (DPs) . In this assessment, it is observed that there has been limited understanding about the concep
Concept of Customer Relationship Management (CRM) fINAL PPT.pptetebarkhmichale
• Type and location of collateral;
• Evidence of collateral (title deed No., booklet No, etc);
• The security/collateral coverage (the security-to-loan ratio) is as per the Bank’s requirement;
• The comment of the Bank engineers’ on the property estimation format;
• The completeness of the collateral documentation;
• The strength of the collateral depends on the stability of its realizable value and convertibility to cash as and when desired; and
• Other collateral risks, if any.
5. Management/Owner of the business:
• The number and breakdown of the employees of the business and their educational qualification;
• Comment on the experience and skills of the owner/management of the business;
• Assess the character, competence and capacity of the owner/management of the business;
• The integrity of the borrower;
• The borrower’s past track record;
• The borrower’s response to the Bank’s information requirements;
• The willingness of the borrower to allow the Bank’s authorized personnel to have access to the books of records as well as to the business and the collateral; and
• Management/ownership risk, if any.
6. Key Customers and Suppliers of the Business:
Identify the main customers and suppliers of the business and comment on the terms of the trade for sales and purchases.
7. Credit Exposure
All existing lending exposure, types, terms, repayments and status of the loans within the Bank and other banks clearly indicated.
8. Borrower’s Loan Account Performance
This assessment shall be conducted when the borrower is or was a customer of the CBE. The Lending Officer should clearly indicate the utilization of the credit facilities and/or loan repayments of the applicant. (Attach the range of account/Overdraft utilization worksheet).
9. Condition of Fixed Assets
Analyze the age and condition of the fixed assets (buildings, machinery, equipment, etc.) owned by the business;
Identify any plans for asset replacement, or expansion in the next years.
10. Financial Statement Analysis
The Lending Officers must assess the repayment capacity of a business to meet its loan and identify the source of repayment. The Lending Officer must also have done a ratio analysis in order to assess the customer ability to repay his/her/its debt.
The Lending Officer must analyze and interpret the cash-flow and the financial ratios from the historical financial accounts of the business. If the Lending Officer has a computer, he/she must have prepare the CBE Financial Analysis Spreadsheet and attached therewith.
Ratios are the main tools of financial analysis. There are an endless number of ratios that could be established between the figures in a set of financial statements. Nonetheless, the Lending Officer must calculate at least the following ratios that will give useful information to the Bank. The Lending Officer must also compare each ratio from the previous periods. The reason for any major changes from one period to another must be ascertained t
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Money Market and Capital Market: Difference
Both the money market and the capital market are the two different types of the financial markets where in the money market is used for the purpose of short term borrowing and lending whereas the capital market is used for the long term assets i.e., the assets which have the maturity of more than one year.
Money markets are unorganized markets where banks, financial institutions, money dealers and brokers trade in financial instruments for a short period of time. They trade in short-term debt instruments like trade credit, commercial paper, certificate of deposit, T bills, etc. which are highly liquid and can be redeemed in the period less than 1 year . It helps the business and industries with working capital requirements.
The capital market is a type of financial market where financial products like stocks, bonds, debentures are traded for a long duration of time. They serve the purpose of long-term financing and long-term capital requirement. The Capital mark
Money Market and Capital Market: Difference
Both the money market and the capital market are the two different types of the financial markets where in the money market is used for the purpose of short term borrowing and lending whereas the capital market is used for the long term assets i.e., the assets which have the maturity of more than one year.
Money markets are unorganized markets where banks, financial institutions, money dealers and brokers trade in financial instruments for a short period of time. They trade in short-term debt instruments like trade credit, commercial paper, certificate of deposit, T bills, etc. which are highly liquid and can be redeemed in the period less than 1 year . It helps the business and industries with working capital requirements.
The capital market is a type of financial market where financial products like stocks, bonds, debentures are traded for a long duration of time. They serve the purpose of long-term financing and long-term capital requirement. The Capital mark
Money Market and Capital Market: Difference
Both the money market and the capital market are the two different types of the financial markets where in the money market is used for the purpose of short term borrowing and lending whereas the capital market is used for the long term assets i.e., the assets which have the maturity of more than one year.
Money markets are unorganized markets where banks, financial institutions, money dealers and brokers trade in financial instruments for a short period of time. They trade in short-term debt instruments like trade credit, commercial paper, certificate of deposit, T bills, etc. which are highly liquid and can be redeemed in the period less than 1 year . It helps the business and industries with working capital requirements.
The capital market is a type of financial market where financial products like stocks, bonds, debentures are traded for a long duration of time. They serve the purpose
General Principles of Lending:
When a request for a loan is received, it is important to ensure that the borrower has the legal capacity to borrow. The other matters upon which the information should be obtained are: the purpose of advance, the amount involved, the duration of the advance, the sources of repayment, the profitability of transaction, and, where applicable, the security offered. The most fundamental principle of all is that the bank should have confidence in the integrity, competence and continuing credit worthiness of the borrower.
• Know Your Customer:
While entertaining a proposal for advance, the branch has to first ensure compliance with the KYC norms.
• Pre- Sanction Stage:
Obtain/compile the following:
• Bio-data/declaration of assets owned by the borrower and guarantor along with latest income tax/wealth tax assessment copies and compilation of opinion reports.
• Particulars of immediate family members/legal heirs along with their father’s name and age.
• Audited balance sheets for the previous 3 years, estimated balance sheet for the current year and projected balance sheet for the next year.
• Particulars of existing borrowing arrangements and credit reports/no objection letters from existing banks if any.
• It should be followed by independent verification by the branch incumbent.
• Details of associate/group concerns, their borrowing arrangements and their latest balance sheets.
• No objection letter from term loan lender(s) if already financed by them and their permission/willingness to cede pari passu/ second charge on their security.
• The position of term working capital liabilities with various banks/FIs and details thereof viz., Limit, DP, Out standings, Irregularities (if any).
• Conduct a search/obtain a search report from Registrar of Companies to ascertain position of charges created already.
•
• Due Diligence:
• Branch Manager should do adequate Due Diligence before bringing an asset to the Bank’s books. This will avoid NPA.
• Thorough inquiry about the prospective borrower (with other banks, Financial Institutions, etc.) market intelligence, his past track record of performance and repayment of obligations, credit worthiness (Net Worth) must be done.
• Personal visit to his office/place of business will give an idea of his business.
• Processing of Applications:
While processing the applications, the following should be looked into and commented upon in the proposal:
• Due diligence on promoters’ background, their track record of repayment by checking with their existing bankers (NPA status) (any rephasements, any compromise entered into), credit worthiness, market reputation etc.
• Latest RBI defaulters’ list and willful defaulters' list —Company and their Directors.
• Bank’s loan policy.
• Contractual capacity of the borrower regarding borrowing powers/any restrictions on borrowings and names of persons authorized to borrow by verifications of:
• Partnership deed
Power of Personal Appearance
Image management is the ongoing process of evaluating and controlling the impact of your appearance and the resulting response on you and others.
The concept of image management applies to anyone who has ever needed to improve self-image, self-esteem, self-confidence, capability and credibility. It applies to anyone who has ever wanted to get an idea across to someone else, to influence opinion or action is it in the home, school, church, community or business setting. It is creating an authentic, appropriate, attractive, and affordable image. Intelligence, knowledge, ability, initiative, and effort are vital to success of any kind, but regardless of whom you are, how old, and what your role or goal, ongoing image management can give you the personal/professional presence you need.
As an individual living and working in a highly complex and competitive society, you must recognize and understand the impact of your appearance as it communicates first to you and then to others. What you wear and the way you look affects:
1. The Way You Think
You can’t afford to think negatively about yourself due to some aspect of your appearance. When you appear authentic, attractive, and appropriate, you think more positively about yourself, your situation, and others.
2. The Way You Feel
You can’t afford to feel depressed, unproductive, uncomfortable, antagonistic, argumentative, self-conscious, inferior, or full of self-doubt. A positive personal appearance is a fast, effective way to boost self-confidence and overcome anxiety regarding ability or acceptance. When you appear attractively dressed and groomed, personally authentic, and appropriate for the occasion, you feel more comfortable, confident, capable, cooperative and productive.
3. The Way You Act or Behave
You can’t afford to act awkward, insecure, submissive, out-of-place, or out-of-order. Nor can you afford to act defensive, arrogant, aggressive, affected, superior, or conceited. A positive personal appearance is one of the most effective ways to improve behavior and enhance performance level or productivity. When you appear attractively dressed and groomed, personally authentic, and appropriate for the occasion, you act more secure, at ease, mannerly, competent, and naturally able to do your best.
4. The Way Others React and Respond to You
Your appearance is the one personal characteristic that is immediately obvious and accessible to others. You can’t hide it. Your appearance makes a strong statement about your personality, values, attitudes, interests, knowledge, abilities, roles, and goals. You can’t afford to be seen as disrespectful, antagonistic, affected, scatterbrained, irresponsible, ineffective, or unproductive. You can’t afford to create a negative impression or to build barriers between you and others because of unattractive, inappropriate, distracting, or offensive appearance.
When you appear attractively dressed and groomed, personally authentic, and ap
Economy of money, banking, and finance EuroMAC_Ch11.pptxetebarkhmichale
The 5 C's of leadership are:
1. Communication: Effective leaders are skilled communicators who can convey their ideas clearly, listen actively, and foster open dialogue among team members.
2. Confidence: Strong leaders have confidence in themselves, their abilities, and their decisions. They inspire trust and instill confidence in others through their demeanor and actions.
3. Commitment: Leaders demonstrate commitment to their goals, vision, and values. They are dedicated to the success of their team or organization and are willing to put in the necessary effort and resources to achieve it.
4. Creativity: Successful leaders are innovative and adaptable, able to think outside the box and find creative solutions to challenges. They encourage creativity and embrace new ideas and perspectives.
5. Character: Leaders with strong character possess integrity, honesty, and ethical behavior. They lead by example, earning respect and trust from their followers through their actions and moral principles.The 5 C's of leadership are:
1. Communication: Effective leaders are skilled communicators who can convey their ideas clearly, listen actively, and foster open dialogue among team members.
2. Confidence: Strong leaders have confidence in themselves, their abilities, and their decisions. They inspire trust and instill confidence in others through their demeanor and actions.
3. Commitment: Leaders demonstrate commitment to their goals, vision, and values. They are dedicated to the success of their team or organization and are willing to put in the necessary effort and resources to achieve it.
4. Creativity: Successful leaders are innovative and adaptable, able to think outside the box and find creative solutions to challenges. They encourage creativity and embrace new ideas and perspectives.
5. Character: Leaders with strong character possess integrity, honesty, and ethical behavior. They lead by example, earning respect and trust from their followers through their actions and moral principles.
CRM 101: What is CRM?
This is a simple definition of CRM.
Customer relationship management (CRM) is a technology for managing all your company’s relationships and interactions with customers and potential customers. The goal is simple: Improve business relationships to grow your business. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.
When people talk about CRM, they are usually referring to a CRM system, a tool that helps with contact management, sales management, agent productivity, and more. CRM tools can now be used to manage customer relationships across the entire customer lifecycle, spanning marketing, sales, digital commerce, and customer service interactions.
A CRM solution helps you focus on your organization’s relationships with individual people — including customers, service users, colleagues, or suppliers — throughout your lifecycle with them, including finding new customers, winning their business, and providing support and additional services throughout the relationship.
Who is CRM for?
A CRM system gives everyone — from sales, customer service, business development, recruiting, marketing, or any other line of business — a better way to manage the external interactions and relationships that drive success. A CRM tool lets you store customer and prospect contact information, identify sales opportunities, record service issues, and manage marketing campaigns, all in one central location — and make information about every customer interaction available to anyone at your company who might need it.
With visibility and easy access to data, it's easier to collaborate and increase productivity. Everyone in your company can see how customers have been communicated with, what they’ve bought, when they last purchased, what they paid, and so much more. CRM can help companies of all sizes drive business growth, and it can be especially beneficial to a small business, where teams often need to find ways to do more with less.
Here’s why CRM matters to your business.
CRM is the largest and fastest-growing enterprise application software category, and worldwide spending on CRM is expected to reach USD $114.4 billion by the year 2027. If your business is going to last, you need a strategy for the future that’s centered around your customers, and enabled by the right technology. You have targets for sales, business objectives, and profitability. But getting up-to-date, reliable information on your progress can be tricky. How do you translate the many streams of data coming in from sales, customer service, marketing, and social media monitoring into useful business information?
A CRM system can give you a clear overview of your customers. You can see everything in one place — a simple, customizable dashboard that can tell you a customer’s previous history with you, the status of their orders, any outstanding customer service issues, and more. You can even choose to include information
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
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OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
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Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
3. What is CRM
Customer relationship management (CRM) is a model for
managing a company’s interactions with current and
future customers. It involves using technology to organize,
automate, and synchronize sales, marketing, customer
service, and technical support.
CRM “is a business strategy that aims to understand,
predict and manage the needs of an organisation’s current
and potential customers”
4. Definition of CRM
“CRM is concerned with the creation, development and
enhancement of individualised customer relationships with
carefully targeted customers and customer groups resulting
in maximizing their total customer life-time value”.
5. The purpose of CRM
Help a business to keep customers.
It helps the business to understand what it needs to do to
get more customers.
Reduce costs by managing costly complaints and finding
out what services are useless for customers.
Help a company figure out if its product is working and,
ultimately, increases profit.
Prime reason is to log and manage customer relationships.
6. Stages of Customer Relationship
Visitor - The online CRM is the entry portal to your
company, however the visitor finds you. Whether they visit
with your representatives at a trade show, or fill out a web
form, they enter the front door of your virtual company and
into the online CRM to be greeted with a welcome and offered
something valuable to them. WARNING: Do not skip this
important stage or your emails may be rejected later.
Engaged Visitor - online CRM is able to engage the sales
lead and rescue your sales. The first place you engage the
visitor is in the welcome email. Be gracious and welcoming.
7. Prospect
In some companies, just clicking on the link to the first offer will
convert the sales lead into a prospect. It may be time to have your
salespeople call to offer help and guide the sale.
Whatever the sales process for your product or service, an
email campaign delivered in your online CRM is the most engaging
and personal way to get them to pay attention to your message.
Customer
Way too many companies stop courting the business after they have
become a customer. Some feel that customers are not loyal anyway,
so what’s the point? Others believe that if they concentrate their
effort on delivering good products and excellent service – it will be
enough to earn whatever loyalty is possible.
8. Advocate
In an online world where customers can post their
experience with your company to be seen by anyone who
may be interested – customers have the enviable power to
make or break your business. As demonstrated by such
companies as Apple, Amazon and more, devout loyalty is
possible when customers feel important. They feel deeply
attached to the companies who make them feel valued and
heard.
9. Relationship Marketing
Relationship marketing was first defined as a form of
marketing developed from direct response marketing
campaign which emphasizes customer retention and
satisfaction, rather than a dominant focus on sales
transactions.
Marketing activities that are aimed at developing and
managing trusting and long-term relationships with larger
customers.
In relationship marketing, customer profile, buying patterns,
and history of contacts are maintained in a sales database,
and an account executive is assigned to one or more major
customers to fulfill their needs and maintain the relationship.
10. Purpose of relationship marketing
Satisfaction
Today’s customers face a growing range of choices in the products and services
they can buy . They are making their choice on the basis of their perceptions of
quality, service, and value. Companies need to understand the determinants of
customer value and satisfaction.
Retention
To create customer satisfaction, companies must manage their value chain as well
as the whole value delivery system in a customer-centered way. The company’s
goal is not only to get customers, but even more importantly to retain customers.
Customer relationship marketing provides the key to retaining customers and
involves providing financial and social benefits as well as structural ties to the
customers. Companies must decide how much relationship marketing to invest in
different market segments and individual customers, from such levels as basic,
reactive, accountable, proactive, and full partnership
11. CRM cycle
There are four phases to the customer life cycle. The four phases include;
marketing, customer acquisition, relationship management, and loss.
Marketing
The marketing part of the customer life cycle is when messages are sent to the
target market to attract prospect customers.
Customer Acquisition
The next phases is customer acquisition which means prospects become
customers when they place an order.
Relationship Management
The third stage is relationship management. Relationship management is when
resell processes increase the value of existing customers.
Loss/Churn
The end stage of a customer life cycle is loss/churn when inevitably in time a
company may lose a customer. The company then needs to establish a win-back
process. The company then needs to decide which lost customers are of most
value and try to win back their business.
12. CRM cycle
A CRM system integrates all four phases of the customer life cycle into three major
processes. These processes are solicitation, lead-tracking, and relationship
management. The diagram above depicts the four phases and the three major
processes. It shows the flow of phases and what each phase means.
13. Types of CRM
Nowadays, three major types of customer relationship management
systems, namely operational CRM, analytical CRM and collaborative CRM
are being used in many organizations.
Operational CRM
It provides support to front-office business processes that involve direct
interaction with customers through any communication channel, such as
phone, fax, e-mail, etc. The details of every interaction with customers,
including their requirements, preferences, topics of discussion etc., are
stored in the customers’ contact history and can be retrieved by the
organization’s staff whenever required.
Thus, it presents a unified view of customers across the organization and
across all communication channels. Examples of operational CRM
applications are sales force automation (SFA), customer service and
support (CSS), enterprise marketing automation (EMA),etc.
14. Analytical CRM
It enables to analyze customer data generated by
operational CRM applications, understand the customers’
behavior, and derive their true value to the organization.
This helps to approach the customers with related
information and proposals that satisfy their needs. The
analytical customer relationship management applications
use analytical marketing tools like data mining to extract
meaningful information like the buying patterns of the
customers, target market, profitable and unprofitable
customers, etc., that help to improve performance of the
business.
15. Collaborative CRM
It allows easier collaboration with customers, suppliers,
and business partners and, thus, enhances sales and
customer services across all the marketing channels. The
major goal of collaborative customer relationship
management applications is to improve the quality of
services provided to the customers, thereby increasing the
customers loyalty. Examples of collaborative CRM
applications are partner relationship management (PRM),
customer self-service and feedback, etc.
16. Success Factors In CRM
Evaluate current customers’ impact on business. CRM
must start with determining what kind of customer
information the company is looking for and what it intends
to do with the information.
Evaluate business environment to understand how current
customer relationships impact business retention and
growth.
Develop a strategy that is well expressed to give clear
direction and value to all employees
17. Evaluate and update the strategy
The goal is to lock customers into a mutually beneficial long-
term relationship. The CRM strategy aligns an entire
organization toward customers in a way that benefits
partners, suppliers and improves the financial bottom line
18. Facts of CRM
CRM is methodology to achieve global excellence through
customer satisfaction. it tracks customer history, need and
co-ordinates company’s multi-pronged interaction with its
customer for business excellence.CRM tentacles every area
of business. These are.—
Customer Needs
Customer Response
Customer Satisfaction
Customer Loyalty
Reclaiming Lost Customer
Customer Complaint
Customer service
19. Importance of CRM
CRM helps the organization to identify customer needs and re-focus its
strategy to serve his better. It helps the company to archive business
growth through development edge and excellence. Some of the major
issue it address are:
Identify customer needs.
Helps in rediscovering the customer and understanding him.
Identify untapped business potential.
Identify strong and weak points of supplier.
Provide feedback to the supplier on his total operation.
Provide feedback and new information on competitors.
Action plan to make organization customer – centric.
20. Stakeholders in CRM
Firms also use relationship marketing techniques to build mutually
supportive bonds with stakeholders other than consumers.
The 4 stakeholder groups most affected by CRM are:
Employees.
Difficult to convince buyers when employees are not happy.
Employee relationship building is handled by human resources departments.
Employees are instrumental in building relationships with customers = they have
to be trained + to have access to data & systems used for relationship
management.
Business customers in the supply chain.
Business customers (the B2B market): uses Internet technologies to work with
numerous wholesale and retail intermediaries.
Firm’s suppliers: uses the Internet to receive bids from its suppliers (lowers
transaction costs + enhances competition + speeds order fulfillment).
21. Stakeholders
3. Lateral partners.
Other businesses that join with the firm for some common goal but not
for transactions with each other (not-for-profit organizations, or
governments).
4. Consumers.
The individuals who are end users of products and services.
Marketers must differentiate between business customers and final
consumers because different tactics are often employed in the B2C and
B2B markets.
22. CRM Implementation
•Customer Segmentation Based on Customer Life time value
•Customer Profiling
•Offer Customization
•Matching Service Cost and Revenue
•Employee Participation in CRM Design
•Motivating Employees for Effective Implementation
•Making CRM an Enterprize wide Activity
•Adequate technology Support for CRM Implementation
•Consistency testing of CRM Programs
•CRM Practice Evaluation Form
24. Satisfaction
1. The fulfillment or gratification of a desire and need.
2. Pleasure or contentment derived from such gratification.
3. A source or means of gratification.
4. Satisfaction is feeling that emanates from fulfillment of
needs and wants.
5. Satisfaction is evaluated based on what is received against
what was expected.
25. Customer Satisfaction
Customer satisfaction is a measurement of how pleased
customers are with a particular product or service. Satisfied
customers are likely to make repeat purchases and often refer
others.
How to Increase Customer Satisfaction in 3 Steps
1. Justify the Sale with Social Proof
When most sales are made, chances are that the buyer will have
to justify the purchase to another person – a boss, spouse, or
anyone that may pass judgment. To make this go smoothly, you
should arm each one of your customers with testimonials from
other people and companies.
26. 2. Surprise Customers with a Bonus
When people spend money on a product, the last thing you want them
to think is “was this worth it?” To combat this, you should surprise each
one of your customers with a little bonus.
3. Offer Free Product Training and Support
This is a clear, business-winning decision. Nothing decreases customer
satisfaction more than being confused with how to make a product
work. And free product training and support will be how you alleviate
this customer frustration.
27. Components of Customer Satisfaction
•For better understanding of customer satisfaction
components need to be discussed as ultimately
satisfaction is dependent on large number of factors.
Customers are satisfied whenever they consistently receive:
1. A perfect product
2. Delivered by a caring, friendly person in a timely fashion
3. The support of an effective problem resolution process.
•Brodeur Berry defined some Quality Values and Quality
Characteristics.
28. QUALITY VALUE QUALITY CHARACTERISTICS
Quality Best Services and high quality
reputation of suppliers.
Front line Service Behaviors Courtesy, friendliness, attentiveness
and keenness.
Timeliness Error free processing.
Efficiency On time delivery.
Inter-departmental Teamwork Professional appearance..
30. Customer satisfaction Model: (Teboul Model)
Company offer Customer needs (product or
service) Customer satisfaction Needs not
fulfilled Total satisfaction is achieved when
offer matches the need i.e. circle is
superimposed on the square
31. Rationale of Customer Satisfaction
Application of the concept of customer satisfaction
provides numerous benefits to the organizations.
These benefits are as follows:
–Customer Satisfaction building loyalty.
–Customer Satisfaction helping in customer retention.
–Customer Satisfaction strengthening customer’s
repurchase intention.
–Customer Satisfaction leading to superior business
performance .
32. Measuring Customer Satisfaction
Customer satisfaction measurement provides an
indication of how successful organization is at
providing goods and or/services to the market place.
Customer satisfaction is key factor in determining
the success of organization in customer satisfaction .
33. Need of Measuring Customer Satisfaction
As satisfied customer is base of optimal performance and
financial returns.
Customers are viewed as a group whose satisfaction with
the enterprise must be incorporated in strategic planning
efforts.
Forward looking companies are finding values in directly
measuring and tracking customer satisfaction as an
important strategic success indicator.
34. Measurement of Customer Satisfaction
There are number of scales and models are used in
evaluating customer satisfaction . Few are listed
below.
KANO MODEL
THE COMMON MEASUREMENT TOOLS [CMT]
AMERICAN CUSTOMER SATISFACTION INDEX
[ACSI]
CUSTOMER SATISFACTION INDEX [CSI]
35. Customer Satisfaction and Marketing Program
Evaluation
Why would a marketing publication, namely Marketing News, devote a
special section entirely to customer satisfaction?
A better question might be, why spend thousands or millions of dollars
in creating a product or concept and then spend thousands or millions
of dollars in advertising to drive people to the product or service, if you
don’t know what you are doing to the customer when they finally do
come into your business?
People spend money when and where they feel good.
Companies use to monitor all aspects of in-store marketing, from long-
term programs to new product rollouts.
36. You can create the most brilliant campaign, but if it is not
executed properly or at all, it won’t get the desired results.
Sometimes marketing departments get disappointing first-
month results and realize more communication and
training is in order to make the campaign work.
Measuring and monitoring performance and delivery of
product and service is not a new concept; people have a
tendency to do more of what you inspect rather than what
you expect.
In today’s competitive business environment, front-line
understanding of the steps and details of delivery of a
product or promotion is more critical than ever
38. Service Quality
An assessment of how well a delivered service conforms to the
client's expectations. Service business operators often assess
the service quality provided to their customers in order to
improve their service, to quickly identify problems, and to
better assess client satisfaction.
39. Issues in Service Quality
Evaluation of service quality is more difficult as
compared to goods quality.
Service quality is comparison between expectations
and performance.
Service quality evaluation involve outcomes and
processes.
40. Definition
• Parasuraman describes Service quality as “the ability of an
organization to meet or exceed customer’s expectations.”
• Lloyd-Walker and Chueng said that “service quality is
considered not only to meet but to exceed customer
expectations, and should include a continuous
improvement process.”
41. Types of Service Quality
• Concrete measurable conformity of a working
result with the previous defined benefits.
Objective Service Quality
• Customers’ perceived conformity of the working
result with the customer ‘s original imagination of
the service.
Subjective Service Quality
42. Dimensions f Service Quality
As per Parasuraman (1985) 10 determinants were identified which are as follows:
45. Service Quality Gap
There are seven major gaps in the service quality concept , which are shown in
Figure·
Gap1:Customers’ expectations versus management perceptions: as a
result of the lack of a marketing research orientation , inadequate upward
communication and too many layers of management.
Gap2:Management perceptions versus service specifications: as a
result of inadequate commitment to service quality , a perception of
unfeasibility , inadequate task standardisation and an absence of goal setting.
Gap3:Service specifications versus service delivery: as a result of role
ambiguity and conflict, poor employee-job fit and poor technology-job fit ,
inappropriate supervisory control systems , lack of perceived control and lack
of teamwork.
46. Gap4: Service delivery versus external communication: as a
result of inadequate horizontal communications and propensity to over -
promise.
Gap5: The discrepancy between customer expectations and their
perceptions of the service delivered: as a result of the influences
exerted from the customer side and the shortfalls (gaps) on the part of the
service provider . In this case ,customer expectations are influenced by the
extent of personal needs , word of mouth recommendation and past service
experiences.
Gap6:The discrepancy between customer expectations and
employees’ perceptions: as a result of the difference s in the
understanding of customer expectations by front-line service providers.
Gap7: The discrepancy between employee’s perceptions and
management perceptions : as a result of the differences in the
understanding of customer expectations between manager sand service
providers.
47. Measure For Bridging Service Quality Gap
Gap1: Customers’ expectations versus management
perceptions
•Have better understanding of customers’ need and expectations.
•By facilitating and increasing direct interaction managers and
customers.
•By improving upward communication .
•By using and turning insights into action.
48. Gap2: Management perceptions versus service specifications :
•By insuring that top management displays ongoing commitments.
•By getting the middle management to set, communicate and reinforce customer
oriented service standard.
•By training managers.
•By standardizing repetitive work task to ensure consistency and reliability.
•By establishing clear service quality goal.
•By clarifying to employees to which tasks have biggest impact on quality.
•Measuring performance.
•Rewarding managers and employees for attaining quality goals.
49. Gap3: Service specifications versus service delivery:
•By clarifying employees goal.
•By ensuring that all employee understand how their job contribute to customer
satisfaction.
•By matching employees to job.
•By providing employees with the technical training.
•By developing innovative recruitment and retaining method.
•By teaching employees about customers’ expectations.
•By eliminating role conflicts among employees.
•By training employees in priority setting and time management.
•By building teamwork
•By treating customer as partial employee and clarifying their role in service
delivery.
50. Gap4: Service delivery versus external
communication:
• By seeking input from operations persons when new advertisement
program are being created.
• By developing advertisements that feature real employee performing their
job.
• By allowing service provider to preview the advertisement.
• By getting sales staff to involve operation staff in face-to-face meeting with
the customer.
• By getting internal educational, motivational and advertising campaigns.
• By ensuring that consistent standards of service are delivered across
multiple locations.
51. Gap5: The discrepancy between customer expectations and
their perceptions of the service delivered:
•By Keeping customer informed.
•By briefing the customer at the end of service
delivery.
•By offering tangibles evidence to the customers to
assure them.
•By taking customer into confidence about the
service being offered.
52. Gap6: The discrepancy between customer
expectations and employees’ perceptions:
Gap7: The discrepancy between employee’s
perceptions and management perceptions:
53. Service Quality Measurement Scale
•Proposed by Parasuraman:
•Identified 22 variables:
•22 Variables of Service Quality Measurement Scale
Modern Looking Equipments
Physical Facility is visually appealing
Employees are dressed and neat appearing
Material and tolls are visually appealing
Promise is always kept
Show great concern for solving problem
Perform better service right from the first time
54. •Provide service at the time agreed on
•Tell the exact time of service delivery
•Error free records
•Provide prompt service to the customers.
•Employees always willing to help the customers
•Employee never be busy to help the customer
•Impressive behaviour of the employees
•Customers feeling about safety
•Employees friendly and courteous nature
•Knowledge to answer question of the customer
•Individual attention on customer
•Opening and closing hours
•Employees personal attention on each other
•Customers best interest at heart
•Understanding needs of their customers
56. What is E-CRM?
E-CRM This concept is derived from E-commerce. It also
uses net environment i.e. internet. Electronic CRM
concerns all forms of managing relationships with
customers making use of Information Technology (IT). E-
CRM is enterprises using IT to integrate internal
organization resources and external marketing strategies to
understand and fulfill their customers needs. Comparing
with traditional CRM, the integrated information for E-
CRM intra organizational collaboration can be more
efficient to communicate with customers
57. ECRM Features
General
Entirely web-based.
Through ECRM application Contact with customer is made through the phone and fax.
Besides, all the other traditional methods are used in addition to Internet, email, and
wireless technologies.
Geared more toward front end, which interacts with the back-end through use of ERP
systems, data warehouses, and data marts.
Personalized individual views based on purchase history and preferences. Individual has
ability to customize view.
System can be designed based on customer needs. Web application designed for
enterprise-wide use.
Reduction in time and cost. Implementation and maintenance can take place at one
location and on one server.
58. Security
Users can be defined with access to only certain options using a role based model.
Options applicable to certain roles can be graphically configured and users defined as
fulfilling a given role.
Pages can be encrypted using SSL and ECRM can be configured to only display pages
using SSL to ensure that all information passing over the internet is encrypted.
Users can be defined to see only certain modules on the main menu - so menu options
that they will not have access to be not even displayed on screen.
HTTP security can be configured over the top of the inbuilt security to provide two levels
of security the first to access the web-server at all and the second to actually get into web-
Based ERP.
An audit trail of which users did what is retained and is automatically maintained based
on how long the information is required to be kept.
59. Advantage of E-CRM
Increased customer loyalty
An effective ECRM system lets a company communicate
with its customers using a single and consistent voice,
regardless of the communication channel. This is
because, with ECRM software, everyone in an
organization has access to the same transaction history
and information about the customer. Information
captured by an ECRM system helps a company to
identify the actual costs of winning and retaining
individual customers. Having this data allows the firm to
focus its time and resources on its most profitable
customers
60. More effective marketing
Having detailed customer information from an ECRM system allows a
company to predict the kind of products that a customer is likely to buy
as well as the timing of purchases. In the short to medium term, this
information helps an organization create more effective and focused
marketing/sales campaigns designed to attract the desired customer
audience. ECRM allows for more targeted campaigns and tracking of
campaign effectiveness. Customer data can be analyzed from multiple
perspective to discover which elements of a marketing campaign had
the greatest impact on sales and profitability
61. Improved customer service and support
An ECRM system provides a single repository of customer information.
This enables a company to serve customer needs quickly and efficiently at
all potential contact points, eliminating the customer’s frustrating and
time-consuming “hunt” for help. ECRM-enabling technologies include
search engines, live help,e-mail management, news feeds/content
management and multi-language support. Withan ECRM system in place, a
company can:
•more accurately receive, update and close orders remotely
•log materials, expenses and time associated with service orders
•view customer service agreements
•search for proven solutions and best practices
•subscribe to product-related information and software patches
•access knowledge tools useful in completing service orders
62. Greater efficiency and cost reduction
Data mining, which is the analysis of data for
exploring possible relationships between sets of data,
can save valuable human resources. Integrating
customer data into a single database allows
marketing teams, sales forces, and other
departments within a company to share information
and work toward common corporate objectives using
the same underlying statistics
63. Voice Portal
A voice portal (sometimes called a vortal) is a Web portal that
can be accessed entirely by voice. Ideally, any type of
information, service, or transaction found on the Internet
could be accessed through a voice portal.
A mobile user with a cellular telephone might dial in to a voice
portal Web site and request information using voice or
Touchtone keys and receive the requested information from a
special voice-producing program at the Web site.
Voice portal interaction may involve audible speech, speech
recognition or a telephone keypad interface.
There are two major categories: A consumer voice portal
provides general access to information; an enterprise voice
portal provides customized access to customer support.
64. Virtual Customer Representative
In customer relationship management (CRM), a virtual agent
(sometimes called an intelligent virtual agent, virtual rep or v-rep)
is a chatterbot program that serves as an online customer service
representative for an organization. Because virtual agents have a
human appearance and respond appropriately to customer
questions, they lend automated interactions a semblance of
personal service. Combining artificial intelligence with a graphical
representation, virtual agents are increasingly used in CRM to help
people perform tasks such as locating information or placing orders
and making reservations.
Customer response to the use of virtual agents has been largely
positive. Typically, people talk to a virtual agent longer than they do
to an actual person, perhaps because talking to a responsive,
personalized computer program is a novelty. Virtual agents are
usually scripted to respond to a wide variety of questions and
remarks.
65. Functional Component Of CRM
CRM applications are a convergence of functional components, advanced technologies
and channels. Functional components and channels are described below:
Sales applications
Common applications include calendar and scheduling, contact and account
management; compensation; opportunity and pipeline management; sales forecasting;
proposal generation and management; pricing; territory assignment and management;
and expense reporting.
Marketing applications
These include web based and traditional marketing campaign planning, execution, and
analysis; list generation and management; budgeting and forecasting and marketing
materials management.
Customer service and support applications.
These include customer care; incident, defect and order tracking; field service; problem
and solution database; repair scheduling and dispatching; service agreements and
contracts; and service request management.
66. Database Management System (DBMS)
A database management system (DBMS) is a collection of program
that enables you to store, modify, and extract information from a
database. There are many different types of DBMSs, ranging from
small system that run on personal computer to huge systems that
run on mainframes. The following are examples of database
application:
computerized library systems
automated teller machines
flight reservation systems
computerized parts
inventory systems
Some DBMS examples include MySQL, Microsoft Access, SQL
Server, Oracle, RDBMS, and FoxPro etc.
67. Database Construction
A good database is designed for a specific use and is
constructed with the possibility of growth.
Like web sites, "one size fits all" only ensures that
our database may not have the flexibility we need.
Our database may fail to collect the information that
we want and need for our business; or it may fail to
provide our customers all the information they need
to made a purchasing decision.
68.
69. Definition of Data Warehouse
The electronic storage of a large amount of
information by a business. Warehoused data must be
stored in a manner that is secure, reliable, easy to
retrieve and easy to manage. The concept of data
warehousing originated in 1988 with the work of
IBM researchers Barry Devlin and Paul Murphy. The
need to warehouse data evolved as computer systems
became more complex and handled increasing
amounts of data.
70.
71. The Data Warehouse Architecture
The architecture consists of various interconnected
elements:
Operational and external database layer – the source
data for the DW
Information access layer – the tools the end user access
to extract and analyze the data
Data access layer – the interface between the
operational and information access layers
Metadata layer – the data directory or repository of
metadata information
73. The Data Warehouse Architecture
Additional layers are:
Process management layer – the scheduler or job
controller
Application messaging layer – the “middleware” that
transports information around the firm
Physical data warehouse layer – where the actual data
used in the DSS are located
Data staging layer – all of the processes necessary to
select, edit, summarize and load warehouse data from the
operational and external data bases
74. Data Mining
Process of semi-automatically analyzing large
databases to find patterns that are:
valid: hold on new data with some certainty
novel: non-obvious to the system
useful: should be possible to act on the item
understandable: humans should be able to interpret the
pattern
Also known as Knowledge Discovery in Databases (KDD)
75. Characteristics Of A Data Mining System
Large quantities of data
The volume of data so great it has to be analyzed by automated
techniques e.g. satellite information, credit card transactions
etc.
Noisy, incomplete data
Inexact data is the characteristic of all data collection.
Complex data structure
conventional statistical analysis not possible
Heterogeneous data stored in legacy systems
76. DATA MINING TOOLS
Most data mining tools can be classified into one of
three categories:
1. Traditional data mining
2. Dashboards
3. Text-mining
77. Traditional Data Mining Tools.
Traditional data mining programs help companies establish data patterns and
trends by using a number of complex algorithms and techniques.
Dashboards
Installed in computers to monitor information in a database, dashboards reflect
data changes and updates onscreen — often in the form of a chart or table —
enabling the user to see how the business is performing.
Text-mining Tools
The third type of data mining tool sometimes is called a text-mining tool because of
its ability to mine data from different kinds of text — from Microsoft Word and
Acrobat PDF documents to simple text files, for example. These tools scan content
and convert the selected data into a format that is compatible with the tool's
database, thus providing users with an easy and convenient way of accessing data
without the need to open different applications.
78. DATA MINING TECHNIQUES
In addition to using a particular data mining tool,
internal auditors can choose from a variety of data
mining techniques.
Artificial neural networks
Decision trees
Nearest-neighbor method.
79. Artificial neural networks
Neural networks have been used to solve a wide variety of tasks that
are hard to solve using ordinary rule-based programming, including
computer vision and speech recognition.
Decision trees
It is tree-shaped structures that represent decision sets. These
decisions generate rules, which then are used to classify data.
Auditors can use them to assess, for example, whether the
organization is using an appropriate cost-effective marketing
strategy that is based on the assigned value of the customer, such as
profit
80. The Nearest- neighbour Method
This Method classifies dataset records based on
similar data in a historical dataset. Auditors can use
this approach to define a document that is
interesting to them and ask the system to search for
similar items.
81. Significance of Data Mining
1. Significance of Data Mining In today’s competitive world,
every business has to fight huge competition to achieve
success. So it is necessary for every business organization to
collect large amount of information like employee’s data,
Sales data, customer’s information, market analysis reports,
etc
2. Sales and transactions, detection of beneficial patterns,
minimizing risk and increasing ROI [Return on Invesment]
and understanding clear business problems and goals
82. Call Center
Telephone service facility set up to handle a large
number of (usually) both inbound and outbound
calls. Some firms, however, specialize only in calls
that are inbound (for assistance, help, or ordering) or
outbound (for sales promotion or other messages).
Most telephone orders are handled by call centres
and not by the manufacturers or suppliers of goods
or services.
83. Multimedia Contact
Center
Allowing customers to choose the contact method
most convenient for them - phone, e-mail, fax, SMS,
chat or web – provides an overall improved customer
experience.
84. Important CRM Software's
FOR SEE CUSTOMER NEEDS
DETAILS OF A CUSTOMER
GROUPING CUSTOMERS
ACQUIRING NEW CUSTOMERS
COST EFFECTIVE
HANDY DETAILS
CUSTOMER SATISFACTION
CUSTOMER LOYALTY
85. Web Phones
It is also known as Internet Protocol telephony. Web
phone technology supports voice communication
over the internet, obviating the need for the
telephone network. this allow a fuller integration of
voice and textual data. several companies including
3Com,Cisco and Mitel are experimenting with IP
telephony system that can be applied to CRM
87. CRM: Emerging Perspectives
Developing customer relationships was there even in
the pre-industrial era but in recent times de-
intermediation process in many industries has
accelerated the evolution of CRM.
Airlines, banks, insurance, computer program
software, and household appliances are using
computer and telecommunication technology to
directly interact end-customers
Databases and direct marketing tools give industries
the means to individualize their marketing efforts.
88. RECENT SUCCESSSES
On-line Banking
Direct selling of books
Automobiles and insurance
Growth of service economy and total quality
management have driven adoption of CRM
Partner relationship with suppliers and customers
for TQM, JIT and MRP seen at Toyota, GM , IBM,
Ford and Motorola
89. Employee- Organisation Relationship
The employee play a very vital role in the growth of the
organization also as they are the one who actually buy the
service organization's business concept and concretize it
by providing their knowledge, skill, effort and time. they
interact with all other stakeholders and satisfy the
interest of each of the stakeholders. the Organization ,in
turn, fulfils the employees physiological, security, and
social needs. they also inherits several attribute of
customer and hence, are called customer.
“If the customer is the purpose of business ,employee are
the means to achieve the purpose“.
90. Employee- Customer Linkage
Radclyffe group conducted a study of call center and found that “satisfied”
contact center employees make for satisfied and loyal customers. Customer
decide whether or not to make future purchasing decisions with company,
or to recommend its service to other, as a direct result of their experiences
with a contact center representative. Organization must do short-term
investment in employee satisfaction efforts through employee training,
good working condition, standard pay and perquisites, participation in
management, employee empowerment etc.
companies essentially need to adopt following practices to leverage their
resources of employee.
Better working condition for employee
higher salary
trained staff
employee empowerment
92. Essentials of building employee relationship
Since the employee are the pillars for the companies
building of relationship with the customer. a
deliberate and well – thought –out initiative is
required by the companies to build foundation for a
strong relationship of employee with the
organization.
93. Essentials of building employee relationship
Recruitment And Selection
Recruitment strategy from customer perspective
Finding persons of customer first orientation
Building employee customer parity
Employee Motivation
Sharing Customer profile
Directing to remain focused
Training and Development
Training with customer – first approach
Training to listen to the customer
Training to build empathy with customer
96. Service Failure
1
2
3
4
5
6
7 8 9
Expected Service
Above expectation
(great service)
Below
expectation
(poor service)
Zone of Tolerance
Service Failure is
the process of NOT keeping promises
99. 1
2
3
4
5
6
7 8 9
Service Failure - Causes
The equipment
Actions (&
inactions) of staff
The systems
The process
Actions of the
customer
Actions of other
customers
The facilities and
environment
The expectations
100. Service Failure - Causes
The equipment
Actions (&
inactions) of staff
The systems
The process
Actions of the
customer
Actions of other
customers
The facilities and
environment
The expectations
The Service Provider
Becomes Responsible for
Managing
102. Responses
1
2
3
4
5
6
7 8 9
Expected Service
Above expectation
(great service)
Below expectation
(poor service)
Zone of Tolerance
Customers
Have
Choices
Put up with it
Complain
Leave
BAD
GOOD
103. Complaining is Good?
THE LOGIC:
1. The Perception of the Customer Determines
Service Quality
2. Perception is intangible and may be invisible
3. Complaining makes it visible
4. Unless it is visible the Service Provider cannot
respond
104. Customer Choices
THE SERVICE
PROVIDER CAN ONLY
RESPOND IF THEY
KNOW ABVOUT THE
FAILURE
Put up with it
Complain
Leave
What Happens
• Little opportunity to
influence by service
provider
• Customers spread bad
word of mouth
• Customers left are
gone for good
How do Customers Decide
• Bond (e.g. contracts,
knowledge etc.)
• Strength of
dissatisfaction
• Switching costs
• Willingness to complain
• Significance of service
• Past relationship
What Happens
• Opportunity to
influence by service
provider
• Opportunity to learn
and adjust service
Service Recovery
Process
GOOD
BAD
105. Service Recovery
1
2
3
4
5
6
7 8 9
Expected
Service
Above expectation (great
service)
Below expectation
(poor service)
Zone of
Tolerance
7 8 9
Service Recovery:
is the process for
resolving Failures
that maintains the
perception of quality
Service Recovery Paradox: Can Service Recovery
increase satisfaction with service to levels above
normal service?
106. The Concept of Justice
A Service Failure represents an expectation not met,
for a customer this is like a BROKEN PROMISE
The customer
wants to see
JUSTICE
Distributive
Size of recompense
matches degree of
failure
Procedural
Process is
consistent and
transparent
Interactional
Behaviour of
service provider
appropriate for
degree of failure
107. The Implications of Justice
Distributive
Size of recompense
matches degree of
failure
Procedural
Process is
consistent and
transparent
Interactional
Behaviour of
service provider
appropriate for
degree of failure
Frequent,
trustworthy
communication
Appropriate
compensation
Appropriately
trained staff
high-pitched wheel
Opportunistic
claims
Unrealistic
expectations
Basis of Organisational response
Potential customer issues
109. Successfully fixing a problem with a defective
product may lead to higher consumer
satisfaction than in the case where no problem
occurred at all.
110. Problems………….
Majority of the customers don’t complain.
Expensive to fix mistakes.
Encourages service failure.
Don’t necessity to think of the firm.
No guarantee the customer will end up more
satisfied.
111. Service recovery paradox in a chart-
Plan
• to disappointed customer
So that
• They can recover well
Gain • Greater loyalty from them.