7BUS2002 Business Research Method Assignment Sample
Module code and Title: 7BUS2002 Business Research Method Assignment Sample
1.0 Introduction
It is very important to have a strong management process for dealing and maintaining a good relationship with the customers. For growing the business strongly it is important to have a good interaction between every customer and dealer. This can be successfully done after having a perfect strategy and planning for facing and solving any problem easily. There are many aspects by which the relationship with the customers and performance management can be evaluated. As in the current times CRM is a vital matter in every business houses as by this they can earn more profit as well as grow their business. This research proposal needs a vast literature review for finding all the consequences of the performance management. For having long term relationships with every customer it is important for the company to increase the relationship managing system with the customers nicely.
1.1 Background
Every research done in this topic for a perfect managing relationship has observed that every dependent company will have a proper degree of firm on every possible capabilities and resources which can help the employees in enhancing the competition of the business. There are many empirical works which are required for examining direct contact between the performance of the firm and the investment directed. Although the research shows evidence that the organization has built a general relationship. The knowledge provides specific organizational factors and infrastructure for driving the results that can remain limited. The value of this firm is a bit complex yet the only possible method that can be useful for managing good relationships with the customers.
1.2 Aims and Objectives
Every managing company has a purpose and a goal to make its company a successful one. Many examples can be put forward for explaining the process of how a company can manage in performing good relationships with the customers. Such as:
- To consolidate the information of the customers- CRM helps in proving the ability and confidence to consolidate the customers for collecting information and documents in a single database (Batistič 2019).
- To obtain perfect leading management in the organization – providing every sales managing team to analyze the inputs and data given so that it can be tracked for having effective management.
- To manage the workforce- with the help of tracking, every information collected for the database from the customers helps in optimizing the efforts made by the marketing teams for sales.
1.3 Research questions
In the light of the mentioned discussions, there are many questions that can be put forward is:
Q1- Why is Customer Relationship important?
Q2- How better can the company perform in managing the company?
Q3- Why team management is important for maintaining and building the growth and success of the company?
Q4- Does the process of consolidation matter?
Q5- How does performance management help in the growth of the company?
Q6- Having a perfect plan and strategy in the company plays a vital role?
Q7- A backup plan is important in a company beforehand. Do you agree?
2.0 Literature Review
2.1 Empirical study
2.1.1 Strategy regarding customer relationship
As per the research conducted by Dewnarain and Ramkissoon, (2019), they explain that the process of customer relationship management is all about having a perfect strategy. Every work done should have a perfect strategy so that it can promote both interactional and transactional relationships with every customer (Dewnarain et al. 2019). The relationship of customer management is also known as ‘social customer relationship management.
2.1.2 Customer relationship management
As per the views of Pohludka and Štverková, (2019), it can be described that customers’ relationship management is very important for a business or any organization. The trend of focusing on the CRM has been started to grow the business. Thus it is very an important to analyze the uses of CRM for growing a business. After implementing a full functioned CRM in any kind of business house it can be considered that the organization will get an advantage in the competitive market. The functions of CRM such as management related with customers, store all the information, manage all the policies related with marketing, control the costing, maintain the network communication and continue improve the quality of the service or the products need to control for improving the business (Pohludka and Štverková, 2019).
For evaluating the overall performance of CRM in any kind of enterprises mainly sale-strategic method is used and this strategy helps to evaluate the customer base of an organization and the amount of the sold product or services in that organization. However, the research has conducted over two years. After completing the research, the researchers stated that every factors of the CRM is crucial for maintaining the overall matter to grow any kind of business and performance management.
Figure 1: Determinants of CRM (Source: https://slideplayer.com)
2.1.3 Review on performance management
On the other hand, from the aspects of Schleicher et al. (2019), it can be stated that performance management is a vital concept in the field of business as well as building a strong relationship with their customers. Author chose to give a conceptual review on the effectiveness of the performance management in integrative way. While doing their research researchers noted that there are many loopholes in the previous researches on this topic, that’s why they choose to collect all the previous data again to give a proper review. They collected data related to performance management on last 30 years to give a proper review (Schleicher et al. 2019). Performance management mainly shows the behavior of the employees towards their customers and this segment is very important for every kind of business as from this one business house will grow. The study also included facts of multifaceted learning, so the behavioral effects of employees as well as managers of an organization can be evaluated and the outcomes of operation and finance can be included in this. However, this review will be a grateful for the future researches on this topic and also this review suggest that performance is very crucial for maintaining relationship with their customers fr business houses.
2.1.4 Consequences of performance management
According to Franco‐Santos and Otley, (2018), taking different methods or models or designs for evaluating the performance management can lead to a vast unintended consequences in a research. Thus they choose to concentrate on the effects of performance management on individuals as well as organizations. Researchers used a mixed method to give a complete review on the consequences of the performance management. The consequences that are unintentionally created in performance management are manipulation of the information, attentions that are selective, transformation of relationships as well as illusion of controlling the overall mater. However this consequences has been created due to some factors such as ignoring of the small errors, concerns that are short termed, not giving proper attention to the values that are related with fundaments, forecast are only attentive towards their self-fulfillment and most important factor is social relationships are changing from many aspects (Franco‐Santos and Otley, 2018).
Thus each and every organization as well as individuals need to give proper attention towards these factors so the organization can maintain their performance management in order keep a good relationship with their customers. Otherwise it will be hard to keep a good customer base. In this research there are mainly two kind of reviews are introduced one eclectic review and the other one is systematic review. From the review it can be stated that there are both intentional as well as unintentional consequences that can be faced by an organization while maintain the performance management.
Figure 2: Customer satisfaction in the business organization (Source: https://www.semanticscholar.org)
The outcome of this analysis is based on certain analyses and variables that can help in limiting the success of Customer relationship management. The issues are:
- Operating the given procedure
- Managing the ownership and responsibility
- Different qualitative information is created so that it can be helpful in using customer contact.
- Changing the procedure faced while queuing
- Procedure of replacement
- A lot of time was spent at the time of doing the queue
According to the authors, all this can be solved easily by having a clear mindset and a clear goal in making the difficult work easy (Guha 2018). Building good relationships with the customers can also help in getting out of this problem easily.
2.2 Theories and Models
Customer relationship management and performance strategy represent creating and developing the value of the firms and also to the customers so that appropriate use of technology, customer knowledge, and data can be used perfectly.
Figure 3: Conceptual model (Source: https://www.researchgate.net)
The strategy followed in this article focuses on the investment, technologies and training so that it can ensure connectivity between the customer and the company and also to the collaborating firm. There are different software that helps in aiding the development of the system of Customer relationship management and performance management (Lee 2020). There are different models which identify meta-capability and high-order constructs. The contribution is measured by the measuring capabilities of the low levels.
3.0 Methodology
3.1 Research philosophy
Research philosophy plays an important role in undermining the strategies there are to be used in the research work, it is very important to understand the type of information there can be arranged regarding the topic as it helps in arranging data but also finding the appropriate outcome they can be found. As per the research work that has been done, the Interpretivism philosophies have been conducted to ensure logical and wide information about the topic. The research has been done on the customer relationship behavior, the topic cannot be limited to the selected amount of secondary data. This particular topic can be portrayed with the desired information by observing the social world. The interest in obtaining the specific results will be completely dependent on the observation of the practical environment. With all these philosophies the current topic.
3.2 Research strategy
The research strategy which has been implemented in this particular research is the qualitative strategy. In this particular strategy, qualitative strategies have been taken to understand the information regarding the customer relationship in depth. The different case has been observed and studied carefully in order to accomplish the ideal research information. Customer relationship management is a wide range topics that can only be observed through theoretical knowledge. Qualitative research provides all kinds of mechanisms that will provide enough depth for acquiring the information regarding this chosen topic.
3.3 Data Collection Methods
The data collection method which has been chosen for this particular topic is the secondary method. The reason behind the specific choice of data collection is the quality of the data. Secondary data collection has its fair share of advantages like time-saving. The information like customer relationships the information acquiring time is much more than that of the primary data. The quality of the information can be improved as the selective secondary data will be acquired in order to mitigate the problems regarding the primary data collections. The only disadvantage the researcher will face is the accuracy of the information regarding the customer relationship behavior.
3.4 Data Analysis Method
As the research will only focus on qualitative data and focus on information that is already present to be explored, the data analysis for the future research work will deal with secondary data analysis techniques. Using secondary data will ensure proper thematic analysis in this particular topic on customer relationships. (Schleicher et al 2018.). The mere topic which has been chosen needs a proper view based on the people’s analysis knowledge and the experience. Thematic analysis has certain procedures like survey response analysis, checking of social media profiles, and the relevant interview transcripts. These procedures will help to portray the information out of qualitative data analysis.
3.5 Research limitations
After understanding all the information so far in the research work it can be said that the information arranged certainly lacks some data that could have helped in importing the quality of the work. As the data from 2018 have only been considered in the research work a large gap takes place in the work that could have helped in understanding the changes taking place in industrial organizations and hope they have evolved their technology to contact with the customers (Shen 2018). The work also lacks certain information that could have helped in understanding various stages the firms used on regular times to improve its internal and external performance.
3.6 Ethical Issues
While examining various kinds of information it is very important to the research to consider certain ethical gestures that can help in better development as well as protecting the copyright views of the Target Company or firm. It certainly got really difficult to analyze the information from different sources without disclosing the identity yet appropriate methods have been used that help in maintaining the integrity of the information’s provider and the actual area of research (Sousa 2019). Proper ethical gestures have been taken into consideration for the research work as it will help in the arrangement of information through the right path in future research work.
3.7 Gantt Chart
Figure 4: Steps followed (Source: Self-Created in project Libre)
Figure 5: Development of Proposal (Source: Self-Created in project Libre)
4.0 Summary
Customer relationship management faces a lot of problems and suffers a lot when the employers don’t understand anything clearly. The study in this article reveals that the technologies and businesses required for maintaining superiority invest a lot of commitments and sacrifices. This study of this article can be successful if done properly after applying the perfect strategy and planning for facing and solving any problem easily. The solving method problem in building good relationships with customers leads to improvement and success in the company’s business
Reference List
Journals
Franco‐Santos, M. and Otley, D., 2018. Reviewing and theorizing the unintended consequences of performance management systems. International Journal of Management Reviews, 20(3), pp.696-730.
Guha, S., Harrigan, P. and Soutar, G., 2018. Linking social media to customer relationship management (CRM): A qualitative study on SMEs. Journal of Small Business & Entrepreneurship, 30(3), pp.193-214.
Lee, S.M. and Lee, D., 2020. “Untact”: a new customer service strategy in the digital age. Service Business, 14(1), pp.1-22.
Nuruzzaman, M. and Hussain, O.K., 2018, October. A survey on chatbot implementation in the customer service industry through deep neural networks. In 2018 IEEE 15th International Conference on e-Business Engineering (ICEBE) (pp. 54-61). IEEE.
Pohludka, M. and Štverková, H., 2019. The best practice of CRM implementation for small-and medium-sized enterprises. Administrative Sciences, 9(1), p.22.
Rashid, A. and Chaturvedi, A., 2019. Cloud computing characteristics and services: a brief review. International Journal of Computer Sciences and Engineering, 7(2), pp.421-426.
Schleicher, D.J., Baumann, H.M., Sullivan, D.W. and Yim, J., 2019. Evaluating the effectiveness of performance management: A 30-year integrative conceptual review. Journal of Applied Psychology, 104(7), p.851.
Schleicher, D.J., Baumann, H.M., Sullivan, D.W., Levy, P.E., Hargrove, D.C. and Barros-Rivera, B.A., 2018. Putting the system into performance management systems: A review and agenda for performance management research. Journal of management, 44(6), pp.2209-2245.
Shen, J. and Tang, C., 2018. How does training improve customer service quality? The roles of transfer of training and job satisfaction. European management journal, 36(6), pp.708-716.
Sousa, B.M. and Alves, G.M., 2019. The role of relationship marketing in behavioral intentions of medical tourism services and guest experiences. Journal of Hospitality and Tourism Insights.
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