Benchmark of three companies that relate to the TeraTech scenario
Please see attached file for full and formatted solution regarding TeraTech's Benchmarking Worksheet
Generic Benchmarking Worksheet - TeraTech
Task A: Problem/Opportunity Statement
Instructions for Task A: In the Response row, write out the problem/opportunity statements for the scenario for each of the team members.
Response to Task A:
TeraTech will be successful in retaining their customer base, increasing profits and remaining at the forefront of their competition by conducting some environmental scanning into the needs of their customers and acquiring the necessary skill set to enable the development of the new CRM system.
Generic Benchmarking?The purpose of generic benchmarking is to identify potential solutions to the problem statements defined in Task A. You will do this by looking at how companies in other industries have dealt with similar issues.
Topic A: Creating sustainable customer relationships/Improving customer service
Instructions for Topic A: In the Response row, each team member must identify at least one company that has faced and addressed similar situations (successfully and unsuccessfully).
? In the Response row, identify whether the company has been successful or unsuccessful.
? In the Response row, summarize your key findings for the company as they relate to the scenario.
? In the Response row, identify at least one alternative solution for TeraTech from each company researched.
Response to Topic A:
Creating sustainable customer relationships is vital to the success of any organization. Despite organizational precautions, there will always be problems in the relationships between a company and a customer. For this reason, firms will be faced with the issue of complaining customers. In order to alleviate this problem and continue to improve the relationship with the customer, it is important that a company has a complaint handling process in place that will satisfy customers and drive customer loyalty. "A company's complaint management affects customer justice evaluations and, eventually, satisfaction and loyalty" (Homburg & Furst, 2005). Michael's Toyota in Bellevue, WA is an example of a company that successfully increased customer loyalty by implementing the i-Sight Complaint Handling Software. The software is from Customer Expressions, a leader in customizable, web-based solutions for managing complaints, suggestions and other forms of customer feedback.
"Michael's Toyota is the largest dealer of new and certified used Toyotas in the five-state Pacific Northwest area. Family owned and operated, the company prides itself on competitive pricing, knowledgeable staff and superior customer service" (PRWeb, 2006). The company however, lacked a comprehensive system of procedures to mange customer complaints and feedback. Each complaint case was handled separately, sometimes filed away and never solved. "Since there was no central database of customer feedback, company managers had no convenient means of looking up or monitoring individual cases and no easy way of detecting trends or patterns in the dealership's complaint history" (PRWeb, 2006). Dissatisfaction grew and customer base decreased. The company needed a centralized complaint tracking system. When Dan Warshawer joined the dealership as general manager in 2005, he quickly determined that the company needed a centralized complaint tracking system. "I started looking around for a proven case management system that would really allow us to manage complaints quickly and effectively" (PRWeb, 2006). He had a major goal in mind - to ensure that customer complaints were dealt with as quickly and as professionally as possible, to ensure the highest possible levels of customer satisfaction. He found the i-Sight software, which was fully customizable, and could be tailored to fit the dealership's existing business processes. "It is also extremely easy to use, so employees do not waste precious time entering and updating cases. And i-Sight is web-based and remotely hosted, so there is no requirement for special onsite hardware or technical expertise. The entire system is designed and managed by the professionals at ...
This worksheet is a Benchmark of the MBA 570 TeraTech scenario. It contains an analysis of 3 companies that have faced problems relating to those of TeraTech.