Browsing: competitive advantage
Executing A Customer Relationship Management Programme In An Emerging Market: An Empirical Approach
Introduction. Retail financial services in all markets, including emerging markets, are undergoing major transaction, driven by change, deregulation and customer sophistication. Customer service and specifically relationship management in particular, are crucial to attaining a sustainable competitive advantage in the marketplace. The execution of a one- to- one programme within an emerging economy is the focus of this paper, specifically in the financial services environment.
Aim of the study. The steps in the execution of customer relationship management (CRM) as proposed by Peppers, Rogers and Dorf (1999b) are examined and the effect on customer service in an emerging market is investigated. The findings indicates that there are positive associations with these steps and customer service.
Keywords: Retail, Financial services, Emerging markets, Customer service, Competitive advantage, Customer relationship management.
Introduction. In a world subject to a continuous process of globalisation, the concept of cross-cultural is frequently encountered in all fields of activity and at all levels. This is the reason why I undertook to approach such issue, not in its generic meaning, but customised for the leadership pattern.
Aim of the study. The present paper is meant to outline the positive effects that diversity may have on any organisation, subject to the condition that the said diversity be appropriately managed. As the leader is a person who, by power of example, makes other people adopting a similar attitude, the actions of the same oriented towards the fructification of the advantages of a cross-cultural environment, which are depicted in this study, are not only directly, but also indirectly, by synergy, impacting, in a positive way, on the organisation. Innovation, performance, competitive advantage and reputation are just some of the outcomes of finding unity in diversity.
Keywords: leadership, cross-cultural approach, globalisation, unity in diversity, competitive advantage
JEL Classification: M12, M14, M54
Introduction. Innovation is an integrating part of the re-vitalization plan of EU economy and it is one of the seven initiatives comprised in the 2020 Europe Strategy. The European Union supports through active policies the creative-innovative processes, as illustrated by the Cohesion Policy Program for 2007-2013 and by the ”Horizon 2020” Program for Research and Innovation.
Aim of the study. The present paper presents, from an organizational perspective, relevant aspects related to the question of innovation and innovation management, while pointing out the most important internal and external factors that favour the introduction of innovation into the sphere of processes that are run by organizations, as well as into the sphere of products and services provided by organizations. At the same time, the paper briefly presents the essential attributes of organizations which obtain competitive sustainable advantages through innovation.
Keywords: organization, innovation, management of innovation, contextual factors, intraorganizational factors, competitive advantage.
JEL Classification: D83, L21, L25, O31, O32.
Intellectual Capital. Knowledge and Competitive Advantage in the Organizational Management
Introduction. The turbulent business environment has inevitably led to an increase in competition, especially in saturated markets of products and services. The economic development of the organization will indisputably depend on the multidimensional concept of intellectual capital. Man continues to be the primary factor within the organization through his creative capacity and also by his receptiveness to self-development. Obtaining strategic advantage is based on innovation, intangible resources of the organization and the use of competitive intelligence.
Aim of the study. In this paper we present a few aspects regarding the reflection of knowledge and intellectual capital focused on organizational processes in relation to the creation and development of the competitive advantage.
Keywords: knowledge, organizational management, competitive advantage, intellectual capital.
JEL Classification: M19, O34, L25.
Introduction. In the general framework concerning the theory and practice of economic growth, which has practically been a concern for all countries since the post war period, the role and importance of labour resources occupy an increasingly important place, we could even say the most important place. The special concern in this problem is determined, in our opinion, by at least two circumstances: firstly, labour recruitment is the main production force of society and, therefore, the main resource of its economic potential and dynamism. Capitalizing all existing labour resources in the national economy of a country and using them as rationally as possible ensures the increase of national income and the increase of the material and cultural living standards of the people in that country; secondly, but not in terms of importance, workforce, by its nature, feels the effects of contemporary technical-scientific progress in the most direct way, which contributes to the increase, or even change, of the place and role of labour resources in the process of economic growth. Instead of the more or less traditional division of economic growth factors, where the main emphasis was on the increase of physical capital, a new division appears in which an increasingly important role is played by human capital, human resources. What makes labour resources a key factor of economic development nowadays is not only the quantitative aspect, whose role generally tends to decrease compared to the previous period, but also the qualitative aspect, from the point of view of training and professional qualification.
Aim of the study. This paper attempts to analyse the dependence of the economic growth process on the level of training and the structure and professional mobility of the workforce.
Keywords: competitive advantage, economic growth, labour resources, level of education, level of qualification, professional mobility, skilled workforce, technical progress, quality of workforce.
The concept of innovation with some insights from resource-based view and evolutionary theory
Introduction. The current economic environment is increasingly turbulent and companies are developing skills through human resources, technologies and Research & Development to cope with declining product cycles and faster technological changes. In evolutionary theory, innovations are heterogeneous and firms learn dynamically from interacting with other firms and technologies, from which incremental or radical innovations can emerge. After a new technology appears, the embedded part of the technology will be disseminated within the industry through some channels and the non-embedded part of the technology will accumulate some idiosyncratic knowledge within the innovative companies through the appropriation of knowledge and knowledge spillovers. There are two major trends in studies, some do not study the innovation per se but are oriented towards the transformations regarding the innovative strategies of the companies in different economic and social environments. The other trend of studies is oriented towards the innovation process itself which has evolved from a linear process of R&D-patent-innovation-market to one towards open-innovation in which the company interacts with other entities.
Aim of the study. The aim of this paper is to present some approaches to study innovative activities from the company’s perspective with a focus on resource-based view and evolutionary theory. In the resource-based approach, companies develop competitive advantages through resources and innovations that are rare and difficult to imitate.
Keywords: innovation activities, resource-based view, evolutionary theory, competitive advantage, technological changes
JEL Classification: D21, L25, O33
Customer solutions – new sources of sustainable competitive advantage in times of global economic crisis
Introduction. The global economic crisis changed the competition game in any marketplace. Faced with increasing competition, declining margins or decreasing demand due to crisis, the firms are looking for new ways to compete at global level. Considering Peter Drucker’s argument that the reason the firms exist is to satisfy the customer, they are trying to differentiate themselves by moving their focus from simple stand-alone products and/or services and instead developing customer solutions. They are defined in the extant literature as a combination of goods and services designed to satisfy a customer’s business needs and therefore they are difficult to imitate and thus they have the potential to be used as a source of sustainable competitive advantage. Much more, firms are facing a demand change from their customers as a response to address new business requirements imposed by the economic crisis. But the shift towards developing, selling and implementing customer solutions is not an easy journey. The firms have to transform many aspects of their business. The question that arises is what are the major challenges firms are facing in creating effective customer solutions to achieve sustainable competitive advantage and how they could address these challenges.
Aim of the study. The firms have to transform many aspects of their business. The question that arises is what are the major challenges firms are facing in creating effective customer solutions to achieve sustainable competitive advantage and how they could address these challenges.
Keywords: customer solutions, competitive advantage, value co-creation
JEL Classification: L10, D40, M10