Customer Relationship Management
Customer relationship management is the study of the expectations and needs of customer and being able to provide them with the best solutions. It involves various techniques and strategies that aim at maintaining a healthy relationship with the existing company as well as the customers and potential customers (Rahimi et al., 2017). Proper management ensures that the organization stays connected to its customers, streamlining the processes and improving their profitability. These techniques aim at improving personalized customer services and being responsive to customer needs.
Supplier Relationship Management
Supplier relationship management is the systematic way of assessing the supplier’s influence and contribution to the company’s success, establishing tactics that maximize supplier performance and approaches in carrying out these tactics. This type of management aims at improving the business processes between the buyer and the supplier, especially that supplier considered strategic partners to the organizations brand (Teller et al., 2016). Additionally, the management system purposes to develop mutually beneficial relationships in organizations to help in increasing the innovativeness of the employees and improve the competitiveness of the firm.
Partner Relationship Management
Partner relationship management relates to the strategies and methodologies for improving interactions between the company and its channel of partners such as consultants, value-added resellers, independent software vendors, and system integrators. Channel partners help the managers to create partner portals to effectively communicate and exchange data between them, thereby collaborate to explore other business opportunities for company (Tanwar et al., 2016).
Employer Relationship Management
Employer relationship management is information system focused on supporting the relationship between the company and its employees. This system is enhanced through improving the communication channels and motivation in workers, creating a clear vision which embraces equality in leadership and nurturing employee skills for leadership positions. Additionally, improved communication channels lead to reduced conflicts, reduced staff turnover rate, and encourage productivity and confidence at the workplace (Agarwal et al., 2017). Moreover, a healthy working environment is maintained which allows employees to take on responsibilities more efficiently and increase workers satisfaction.
Agarwal, A., Singh, D., & Agariya, A. K. (2017). What Really Leads to Partner Relationship Management? A Review of Literature. Journal of Relationship Marketing, 16(4), 245-285.
Rahimi, R., & Kozak, M. (2017). Impact of customer relationship management on customer satisfaction: The case of a budget hotel chain. Journal of Travel & Tourism Marketing, 34(1), 40-51.
Tanwar, K., & Prasad, A. (2016). Exploring the relationship between employer branding and employee retention. Global Business Review, 17(3_suppl), 186S-206S.
Teller, C., Kotzab, H., Grant, D. B., & Holweg, C. (2016). The importance of key supplier relationship management in supply chains. International Journal of Retail & Distribution Management, 44(2), 109-123.