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This is technology through which it tries to follow and put its links in order with its present customers, as well as those whom it anticipates to sell its products in…
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Lecturer: Presentation: The core technology in for the organization in the banking industry is relationship management (CRM). This is technology through which it tries to follow and put its links in order with its present customers, as well as those whom it anticipates to sell its products in future. This technology makes use of software that assists the organization to manage these activities. It helps it to improve on service delivery to customers and also to aid in marketing activities through the use of the information that has been obtained from customers regarding their contact information. It is important in improving the organization’s competitiveness through ensuring that the customers are loyal to it as well as the optimization of innovative products and services from the organization (Day et al 2000). More over, management as well as employees use this technology to put together and evaluate data obtained regarding customers for the purpose of developing a strong relationship between them and the customers. This strengthens the basis for new product development as well establishing market for the organization’s products.
It is clear that customer relationship management is the core technology for the organization due to the fact that without it, banks may not be able to obtain essential information concerning customers, which affects the banking system in one way or another. Any organization is usually concerned with enhancing its competitiveness in the market. CRM technology helps in solving issues regarding competitiveness, thereby making it possible for an organization to accomplish its goals. This technology has encouraged innovativeness in the organization (Percival 2006). The availability of information and the use of the customer oriented approach, which is enhanced by the CRM technology, have made product differentiation in the organization possible through innovativeness. This has increased the organization’s competitive advantage, which is a major factor that contributes to profitability.
References
Day, G. S., Gunther, R. E., & Schoemaker, P. J. (2000). Wharton on Managing Emerging
Technologies. New York: John Wiley and Sons.
Percival w. (2006). Market Analysis: Its Principles and Methods. London: McGraw- Hill
Book Company Inc, 2006.
Technology that is core or enabling to an organization is identified through critically evaluating whether it is capable of assisting in the realization of organizational goals. It is also important to assess whether communication regarding the organization’s strategy is acquired in order to ensure that the organization has a basis for establishing the technology that is regarded as the core to the organization’s success. Such technology is usually understood by every employee in the organization who understands the organizational goals (Schilling 2008). The success of the organization that can be attributed to the technology can also be an indicator of whether it is the core technology. The prospects of the organization in regard to the application of certain technology may also be used as important indicators of whether the technology is part of what keeps the organization running. If the management believes that it is only through it that organizational goals can be achieved, then it can be regarded as the core technology. This technology should be practical to implement, and should also be able to give long as well as short term results that can be used as the basis for planning (Booth and Philip 2005).
The acceptability of the technology to employees as well as their ability to use it to produce the desired results is important in determining whether it is the core technology. On the other hand, customers’ feed back in regard to their understanding concerning the organization’s products is an indicator of enabling technology which is significant in generating competitiveness for an organization (Nambisan 1999). The capability of an organization to compete due to the use of a certain technology can be used to assess whether technology is core to its success. According to Percival (2006), the applicability of technology in the workplace is determined through the ability of employees to use it in performing their tasks and also its usefulness in accomplishment of the objectives of an organization. More over, assessment of the profitability of an organization before and after the use of this technology can also offer essential information regarding whether it is core or enabling.
References
Booth, M., & Philip, G. (2005). Information Systems Management: Role of Planning,
Alignment and Leadership. Behaviour & Information Technology, 24(5), 391.
Nambisan, S., Agarwal, R., & Tanniru, M. (1999). Organizational Mechanisms for
Enhancing user Innovation in IT. MIS Quarterly, 23(3), 365.
Percival w. (2006). Market Analysis: Its Principles and Methods. London: McGraw- Hill
Book Company Inc, 2006.
Schilling, M. A. (2008). Strategic management of technological innovation (2nd ed). New
York : McGraw-Hill. Read More
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