The Impact of New Media on CRM-Systems Thesis Proposal

The Impact of New Media on CRM-Systems - Thesis Proposal Example The intention of this study is growing a business as a practice that business owners, employers and managers do not have an option to. Once businesses are established, they must be taken trough the tough task of nurturing them to grow. Business growth and development has however become even more challenging in the face of global economic meltdowns. The prevailing economic crisis has resulted in massive competition among businesses of all sizes to survive the tension and pressure. It is not surprising therefore that a lot more companies – even bigger corporations are closing down. Some of the factors that make the running of businesses very difficult when economic conditions are not good include lack of access to credit to undertake strategic business expansions. Harsh economic climate also deprive ordinary people of enhanced revenue and therefore change their spending habits. People become more cautious with what they do with their monies. It is however not as if every other b usiness or company would collapse because the global economic meltdown. As a matter of fact, it is in the face of such economic crisis that the ‘men are separated from the boys’. It is in the face of such trailing moment that good businesses are separated from bad ones. When the general business climate is unfair, it takes focused business planners to succeed because they are the kind of people who can come out with innovative ways of winning the hearts of the few customers who will be ready to do business. (McLean, 2009). Making mention of customer brings to discussion, the innovative skill of attracting customers when there are actually several businesses competing for few customers. The growth of every business depends largely on customers than on any other factor or group of people (McLean, 2009). This is because customers and consumers are the ultimate injectors of money and funds into businesses. Though the implementation of strategic plans goes a long way to help in the growth of businesses, there is no denying the fact that every strategic plan ultimately seeks to attract more customers and make businesses grow (Frimpong, 2004). Ensuring the welfare of customers therefore seeks to be the ultimate thing any business setup could do to ensure continual growth and development even in the face of unfavorable business climate. Because of this, customer relationship management has always remained an important and integral part of the growth of businesses the world over. Because a business can hardly survive in the absence of customers, a business also hardly survive in the absence of an effective customer relationship management program. This is because customer relationship management sets its self up as a tool for identifying all needs of customers and the best ways of meeting these needs (Nardi, 2006). Customer relationship management has to do with everything that businesses or organizations do to build healthy relationships with their custom ers. The Business Ball (2006) notes that â€Å"customer relationship management concerns the relationship between the organization and its customers.† Through customer relationship management, the customer is put at the head of the organization and accorded the accolade of the lifeblood of the company and therefore the need to be particular and concerned with his or her every need. To this effect, the Business Ball (2006) admonishes that â€Å"customers are the lifeblood of any organization be it a global corporation with thousands of employees and a multi-billion turnover, or a sole trader with a handful of regular customers.† This means that customer relationship management is not the sole research of the world’s largest corporations but every business setup; no matter how small it is. In talking about customer relationship management, one important composition to dwell much on is management. McCrimmon (2011) explains management as â€Å"achieving goals in a way that makes the best use of all resources.†