Q3 Essay Example | Topics and Well Written Essays - 500 words - 1

Q3 - Essay Example 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. 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