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Problem Solution for TerraTech - Case Study Example

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TeraTech is a provider of Customer Relations Management software for pharmaceutical customers. They are currently a major player in this industry, but have recently seen a slowing in their growth, which is a concern given that this is a relatively new technology…
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Problem Solution for TerraTech
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Download file to see previous pages The company is now at a point where they need to determine how they will move forward to meet not only the current, but future demands of the clients. In order to do this it will be important for the company to carefully implement a strategy to accomplish their goals. There is always the alternative to do nothing, but if TeraTech wishes to survive this is not an option. The current issues that have been identified are poor customer satisfaction reviews, slowing growth, and staffing concerns. Moving forward, the company will have to decide how to best address these issues.
TeraTech is a major player in the CRM solutions arena for the pharmaceutical industry. However, after receiving feedback from their customer base they have found that their customers are overall unhappy with the level of support provided for their current CRM technology, nor are they satisfied with the results that the software is producing for them. It has been identified that the current technology lacks the analytical capabilities that their customers need to realize a return on their investment in the technology. TeraTech has the opportunity to develop a new technology that would better meet the needs of their clients and help them to obtain a competitive advantage.
Proper execution of a new product development and launch is imperative to the success of the product (Kerin, 2006, ch. 10, pp. 15-20). It is evident that in order for TeraTech to remain competitive they will need to implement a new technology that will meet the needs of their customer base. There is a major issue facing the company at the present time in the area of staffing. Management feels that they do not have the necessary talent and skills available in order to "develop and support an analytical product" (UOP, 2008, Scenario). In fact, with the resources available at the current time they are not able keep up an acceptable level of customer satisfaction and stand to lose business. Since the human resource department is insisting that the company does not recruit any new talent within the next year, TerraTech has an obvious staffing issue that must be addressed. Maximizing current human resources capital will prove to be quite a challenge.
Perhaps the most important issue facing TerraTech is the fact that their customers are not satisfied and that they stand to lose the customer base that they have worked so hard to acquire. As mentioned above the first issue is that the current technology is not meeting their needs, but in addition to this a good percentage of customers are reporting that they are not happy with the level of support and customer service that they have received from the company since they have began using the CRM system. TeraTech must address this issue and they have a good opportunity to improve the level of service and support they are providing their customers.
Stakeholder Perspectives/Ethical Dilemmas
Anytime that a company seeks to make changes or branch out into unknown territory, there will be doubt and conflict within the organization. A lot of this comes from the tendency of human nature to resist change coupled with the fear of failure. According to the UOP, Scenario One - TeraTech, research has revealed that most new products fail and this fact "increases anxiety amount the different groups who must ...Download file to see next pagesRead More
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