Вопрос
Write short notes on the following relationship management terms: a) Sub-contracting [4 Marks] b) Reciprocal trading [4 Marks] c)Strategic alliances [4 Marks] d) Adversarial relationships [4 Marks] e) Customer relationship management [4 Marks]
Решения
4.6
(144 Голоса)
Радмила
профессионал · Репетитор 6 лет
Ответ
a) Sub-contracting: Sub-contracting refers to the practice of assigning a portion of a larger contract to another party, known as a subcontractor. This is often done when a general contractor cannot perform all aspects of a project or when specialized skills are required. Sub-contracting allows for the delegation of specific tasks while the main contractor retains overall responsibility for the project's completion.b) Reciprocal trading: Reciprocal trading involves two parties engaging in the exchange of goods or services where each party receives something of equivalent value. This type of trading is based on mutual benefit and is often seen in business-to-business transactions where companies trade products or services with each other to satisfy mutual needs.c) Strategic alliances: Strategic alliances are formal agreements between two or more organizations to pursue a set of agreed-upon objectives while remaining independent organizations. These alliances are often formed to leverage each other's strengths, access new markets, or share resources and expertise, thereby enhancing competitive advantage without the need for a merger or acquisition.d) Adversarial relationships: Adversarial relationships are characterized by conflict or opposition between parties. In business, this can occur when companies compete directly in the same market, often leading to aggressive competition. Such relationships can drive innovation and lower prices but may also lead to negative outcomes like reduced cooperation and increased costs due to rivalry.e) Customer relationship management (CRM): Customer relationship management (CRM) is a strategy for managing an organization's interactions with current and potential customers. It involves using data analysis about customers' history to improve business relationships, specifically focusing on customer retention and driving sales growth. CRM systems help businesses stay connected to customers, streamline processes, and improve profitability.