Union bank of norway for MKTG 4760 Essay Example | Topics and Well Written Essays - 500 words

Union bank of norway for MKTG 4760 - Essay Example These gave the bank the advantage over its competitors and remain affected by the economic turmoil. The above strategy of the company also bought about a crisis. As customers were offered automated ways to use their services, they now did not have to physically come to the bank. This meant that the staffs in the various branches were not able to have direct communication with the customers. That is, the bank no more had direct access to its customer and in turn did not know what their customers wanted. This was a dangerous place to be in for any business. A business can only sustain and grow only by knowing what the customer wants and according developing the business. Hence, it was very important for the bank to find a way out of this crisis. In order to come out of this crisis the company had to consolidate the information (customer data) available to them about the customers through its automated services. But the main problem here was that the customer data was spread across many systems and it would take days to accumulate and consolidate this data. The bank concluded that the only way to overcome this was to get a have all the customer data from different systems at one place. This would give them the complete view of the customers. The bank then acquired a data warehouse with the aim of consolidating the customer data from various systems and makes it available to its employees on a single centralised platform where they could analyse it. This helped the bank in numerous ways. The bank was now able to identify who their customers were, their interests, their buying behaviour, etc. This also gave the bank the 360-degree view of the customer. The bank was now in a better position to understand what their customers wanted and designs their products and services accordingly. The data warehouse solved the problem of not understanding the customer but the communication with customer was still a problem. Hence, in order to overcome this, the bank

Stakeholder management project Dissertation Example | Topics and Well Written Essays - 13000 words

Stakeholder management project - Dissertation Example ...30 Chapter 5: Discussion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...50 Chapter 6: Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....52 Reference List†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.54 Abstract The aim of this dissertation is to illustrate how different stakeholders influence an organization. This is with the intention of helping management in making effective decision regarding stakeholders so that they can reap the positive benefits of making good decisions in relation to stakeholders’ management. General Motors: A company which collapsed as a result of having poor stakeholder management is used as the cases study. The first chapter is an introduction of the content of the dissertation. It gives the significance of stakeholder management and how this affects an organization. It outlines the various stakeholders and how each influences the management decision. It furthers gives the historical development of the General Motors company. How it started, what made it succeed and how poor stakeholder management let to its eventual downfall. ... The fifth chapter is a discussion that outlines lessons learnt from each stakeholder interaction and explains how organization can capitalize on these lessons to manage their stakeholders in a better way. This involves the prediction of the outcomes of each interaction thereby making the right decision to avoid negative outcomes. Chapter six is the conclusion consisting of recommendation for further research on the topic of stakeholder management. It also gives a summary of new insight gained on the topic. Lastly we have the reference list on the last page. Chapter 1: Introduction and rationale Today, we are living in a highly dynamic and competitive business climate. Businesses which fail to adapt to the changing climate are at the risk of stagnating and being driven out of the industries. To stay on top of the game, organizations are using different strategies that keep them ahead of their competitors. One way that has been seen to be effective in achieving this has been the manage ment of stakeholders. There are different groups of stakeholders that influence the management decisions. How these different stakeholders are treated can affect an organization either positively or negatively( Muller, 2008: 32). The stakeholders are the people who have interest in an organization. These stakeholders include the shareholders employees, the competitors, suppliers, customers and the community in the region where a business is located. The shareholders have been recognized as the most important stakeholders in an organization. This means that the management should always give the shareholders interest priority in case they are in