Report into the Relationship between Innovation and Customer Relationship Management

Introduction:

Customer relationship management in short its called as CRM, the aim of the CRM is to place the customer at the center for the flow information to the company. Company has the information about the customer, to know about their customer but they don't share the information its only available for the function of specific job in company. Though the companies has rich information,if informations are not of a corporate knowledge then there will be lack on maintain the good customer service. CRM is an application that enables companies to make the move towards being a customer center organisation by putting the customer at the center of all the information that relates to them and allowing authorised people with in the organisation to access the information. Sale department of the company may have an access to all the information that affect their relationship with the consumer. The vale for the customer seviced organization may have a higher customer retention rate than other organizations.

Innovations in the organisation:

innovation is most important for the development of the business or organization in todays world. The innovation is the surviving factor for any organization or business. Not only in the business even in all the part of life innovation is the important key to survive. All the customers will get tired of treating the same ideas all along their life. Always people are expecting new innovative ideas to come. Everyone is always eager to try to new things. Even people are like that. Some of the real time examples are here. Even if some people dont know swimming at all. They always take the risk to swim and wants to try that enjoyment. They are clear about the risk involved in that. But still they want to have that. This is called as interest in doing new things. Some of the people always try to play with the risky factors. People are always motivated in doing risky and new things by themselves. Like wise they always have a wish to test the new product and look at the things happen later. This interest of the people in trying out new things leads to the innovation. Some of the innovative ideas are also called as science fiction in novels as well as in the entertainment field. Some of the great movies are the result of this kind of innovative ideas. Thinking out of the box is useful for creating the innovative. The inventions were first called as the stupid ideas and not possible at all. But after it has been achieved people used to call it as an excellent job. All the great inventions of the mankind was first a thought and then that thought was developed as the thesis after that it became the prototype and then the real invention. Lots of factors are there that highly affect the innovations. The environment in which the innovators were bought up. And then the appreciation for their works plays a vital role in developing a innovative idea. The people always wanted others to praise their work. Even a small appreciation from a colleague or higher official will lead to a great impact in their mind. First the employees have to be provided with the required environment. creativity will not come up in mind within fraction of seconds. It needs some time to emerge in mind. So the employees should be provided with that time. The innovation can be seen mostly in the entertainment field. Especially in the creation of the films. The innovative ideas is presented to the executives and the policy makers they will analyze the ideas and create the policies to the organizations based on it. Information about the customer : For innovating any thing in the product of the businesses we need to know what consumer will feel about and will the product be successful with the customer to know that we need know collect an information. the information collected from the customer is one of the important factor in the innovation. This helps in many way for the innovation the Company can use those informations to check whats the demand from the customer and what is the expectation of the customer on the product. by obtaining this details helps the company to innovate according to the expectation of the customer.

This report states following things:

1.innovation and its importance in the business policy creation and economy. 2.role of the users and the consumers in the innovation and the its creation. 3.analyzing the things happen in the five organizations. 4.based on the analysis done above we have to conclude the things and recommend other organizations to make use of it. The importance of the innovation is realized by the people after they suffered a lot. The innovation stands as the main factor in deciding the growth of the business. Innovation is the thing that should be in constant balance between the demand and the supply. If there is a lot of demand in the business for a product then there should be enough supply of that product in the market. Else the business will not be a successful one. After the recession the organizations are moving towards the knowledge economy. The knowledge economy is not based on the physical things that appears in the organization. The knowledge economy is making use of the knowledge production and knowledge marketing. using the knowledge production and the knowledge processing we can improve the economy of the company. Most of the knowledge engineering is used for the job creation since lots of job are based on the knowledge. In most of the companies the knowledge is used as both the product and also a tools. The persons might be either a mathematician,psychologist. But still the brains worth more than the position that person is at. We have to consider both the people having the ability and the willingness to produce the ideas. Both the kind of the people are useful for the organization. Getting the efficient people is not at all a matter. But to get the people with the willingness to create new things and passionate about creating new ideas and implemeting matters a lot. Finding those kind of people is really rare in the current situation. We can create the ability in a person. Else we can train them to the standard. The environment in the company will sure train them to the standards. But the interest they show in coming up with new ideas really matters a lot. All the organizations have lot of talented people but, not having enough people to produce innovative things. The organization always provide the people to keep them in their organization for their innovative things. Because they consider that kind of people as one of their assets. The money is not the real asset for any kind of the companies. But really the strength of the people is always matters. A company with lots of human resource can survive in any kind of bad situations. Roles of the user and the consumers in the innovative ideas creation is much more important. The demand for the creation of the thing is only used to create a lot of ideas. Whenever there comes a situation of emergency, people will act wise at that situations. So whenever there comes a strong demand for a thing. The company will ask their employees to come up with the solution for the situation. And let them have some prizes for that solutions. Then sure they will come up with lots and lots of solutions. The executive will choose the best among them and provide that person suitable prize or promotion. Some of the organizations frequently provide their employees with these kinds of test and then test them and their capacity to master the things. Like wise most of the organizations provide the employees a situation or test their leadership qualities. Some of the companies will give them the problem to solve to which they have to provide the solutions based on the customer satisfaction and perfection in the project works. The instability in the project is due to the lack of the customer interaction clearly. The corporate people should have spend lots of time in hearing to the preferences of the customers. A famous quote goes in this way “to cut a tree within 3 hours , sharpen the tool for 2 hoursâ€A. Interaction with the customer is mostly needed to create the project upto the satisfaction of the customers. For any kind of business the customers are the king and their first preference. after that only they can achieve the things they desired to. To analyse the common pattern of the user interaction in different organizations .we took five organizations to analyse that. The person in the field of customer care or in the domain of the customer interation knows lot about the real needs of the customers . Though the higher officials take little care in this. Different companies follow different method to take care of the customers. Some of the companies take a set of people randomly from the group of the customers and let them test the beta version of any project. After they use that product for specific time. They will ask them to give them suggestions to improve the product. This is the way to test a product before releasing it in the market. The innovative ideas are classified into different types based on the forthcoming of the product. Basically most of the creativity ideas have it affect internally. Like changing the salary paying system, changing the structure of the office, creating the security in the systems. These are also innovative things. But it doesn't have lots of affect in the business process. Other kind of the innovative idea in the business is having direct affect in the business. Like making new way of advertising the product, getting the clients at ease. Making change in the delivery system of the product and more. At last the most important kind of innovative is like creating the new path in the business for themselves. Its like totally migrating the goal of the business from one product to another or even changing the track of the business domain. The last kind of innovative has great part in the market growth. From all the analysis of the customer management relationship we conclude three points to have in mind for the policymakers and decision takers in the organizations. First recommendation deals with the education system used by the policy makers with their employees and also usage of the customer preferences to the innovative. Second recommendation : for the new ideas to emerge there should be a separate team to analyze all the feedbacks given by the customers and fed them into the innovation team to take care of. Most of the feedbacks are existing in the normal organization systems. To create new innovations,we have to form the ideas from the feedbacks of the customers.

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