Fundamentals of Customer-Focused Management: Competing through Service

Fundamentals of Customer-Focused Management: Competing through Service

Fundamentals of Customer-Focused Management: Competing through Service

Fundamentals of Customer-Focused Management: Competing through Service

Synopsis

Customer-orientation, customer-centricity, and customer relationship management (CRM) are not new concepts or practices. But information technology has unleashed tremendous opportunities in dealing with a customer and in creating value to the customer. And yet the majority of CRM investments and initiatives fail because firms do not have the appropriate orientation to serving the customer. The principal aim of this book is to get the reader to think about th firm and the way it conducts its business in a certain way--with a customer focus.

Excerpt

The critical importance of fundamentals is not readily evident to the casual observer. But many a business failure appears to have occurred because the firm ignored the fundamentals of business. What is fundamental to any business? To answer this question is to understand why a business exists and what it takes to deliver on it. As Peter Drucker so crisply put it, “There is only one valid definition of business purpose: to create a customer.” What follows from that statement in Drucker's thesis is that businesses, therefore, have two basic functions: marketing and innovation. The essence of that statement might seem simplistic, but then all fundamentals are indeed simple. That, in fact, may be the reason it gets ignored. Perhaps its apparent triviality allows us to gloss over the fundamentals or take them for granted.

A fundamental principle that follows from Drucker's thesis is that firms have to be customer-focused. Customer-orientation or customercentricity is not a new concept or practice and neither is customer relationship management (CRM). What is new is that information technology has unleashed tremendous opportunities in dealing with a customer and in creating value to the customer. It is ever more important that in leveraging these new technologies firms respect the fundamentals. Indeed, it is precisely because of the unprecedented attention that, as providers and consumers, we have given information technology that there has been ample opportunity to lose sight of the basic purpose of any business.

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