Research on the 7 Business Transformations (Choose 1 transformation): 1-From sup

Question

Research on the 7 Business Transformations (Choose 1 transformation):

1-From supplier-centric to customer-centric.

2-From push to pull.

3-From transactions to relationships.

4-From ‘trucks and sheds’ to ‘end-to-end’ pipeline management.

5-From functions to processes.

6-From stand-alone competition to network rivalry.

7-From inventory to information

For example, if you choose From supplier-centric to customer-centric.

Answer the following:

1. What is this business transformation?

2. Why is this important to business?

3. What happens if your firm does not observe this transformation?

4. What skills are needed to make this transformation?

5. What technology do you need to make this transformation?

6. Give a specific case example. ( 5 sentences long paragraph. - You may use
any resources - the internet, books, ...)

Explanation / Answer

1. From transaction to relationship

- this business transformation is all about shifting from mere transactions which is selling to building a rapport with the customers which is relationship.

2.Importance to business:

- improves customer loyalty

- increases demand for the product

- expands the market

- increase in organisations bonding with customers

- sustainable customers

3. If not observed below would be the results:

- no personal touch

- reduced loyalty

- high rivalry

- outdated in the market

4. Skills needed

- networking and communication skills

- empathetic skills

- customer knowledge

5.Technology:

- there are multiple employee resource planning systems popularly known as ERP's are available in the market.

- specialised Customer relationship management ERP'S from the information technology giants like Oracle, SAP and IBM are also avliable to effectively manage the CRM.

- many small vendors also provide technologies on CRM

6. Case example:

- Earlier telecommunication giant Airtel, used to concentrate only on transactions

- Over period of time this transaction slowly moved to customer relationship

- Now Airtel is a major player in the telecommunication business

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