Essay on Midterm: Customer Relationship Management

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demographics megatrends that will change the world.

population growth will nearly halt by 2050

deep-seated spirit of ingenuity- noble peace prizes, pattens (ibm) robust demographics and the worlds most productive expanse of arable land.

6 trend that will bubble up in the hotel industry 1= increasing fees not just the usual 20 a day resort and amenity fee, which you pay whether you use or not the tennis courts, but how about a required 12 housekeeping surcharge or a fee for storing your luggage in the lobby. total fees and surcharges collected by us hotels are increasing from 1.78m in 2010 to a record 1.88 in 2011.

2= disappearing tubs.

3=pump dispensers.

4= check in automatically
Aloft hotel (starwood)
5= locavore options
6=lobbies as social hubs

Performance an owner can choose one of several major forms of operating agreements. there are five basic operator arrangements:
-self operation independent of any second party assistance or management.
-self operation with membership in referral system.
-self operation under a franchise management.
-leasing to a brand or independent operator
-signing a management agreement with a brand or independent operating company.

the most common performance criteria base is the annual budgeted income before fixed charges (ibfc)

Margins harvard business publishing- on the forces models(5 sources) (competing forces change strategy) 5 FOURCES in case book

benchmarking improves performance by identifying and applying the best demonstrated practices to operations and sales. the objective is to find examples of superior performance and to understand the processes and practices driving performance.

strategic planning is a comprehensive process for determining what a business should become and it can best achieve that goal. it appraises the full potential of a business and explicitly links the business objectives to action and resources required to achieve them.

Mission and vision statements defines a compnays business, its objective and it approach. vision stat. describes the seared future position of the company.

customer relationship management

Outsourcing

Balanced scorecard customer segmentation- subdivision of a market into discrete customer groups that share similar characteristics.

core competencies deep proficiency that enables a company to deliver unique value. it creates sustainable competitive advantage.

Managmenttool2011bain

mergers and acquisitions occur when a large company takes ove ra smaller one. a hostile takeover takes place when the acquirer bypass the board of the targeted takeover and purchases shares on the open.

strategic alliances agreements among firms in which each commits resources to achieve a common set of objectives. can improve competitive positioning, gain entry to new markets,supplements critical skills and share the risk or cost of major development projects.

social media allows individual and organizations to interact with their emplyoees, friends, customers and partners electronically across a range of devices. rapidly changing and is used for four primary purposes. communication, commerce, communities, and collaboration.

supply chain management

scenario and contingency planning-allows executives to explore and prepare and plan for alternative futures.

knowledge management-develops systems and processes to acquire and share intellectual assets.

shared services

toral qualtiy management

downsizing- hiring freezes, salary cuts, shortened work weeks, restricted overtime hours, unpaid vacations and temporary plant closures.

enterprise risk management approach to making strategic and business decisions.

open innovation

price optimization models
(revenue management )

change management programs
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