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Customer Relationship Management and Customer Value

Categories: Customer Relationship Management Customer Service

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Words: 1518 |

Published: Mar 1, 2019

Words: 1518 | Pages: 2 | 8 min read

Introduction, customer relationship marketing (crm), works cited.

Feedback questionnaires: This is a question and answer process used by companies to identify and measure their customers satisfaction and happiness.
Reviews: A review is a written opinion and reflection from a customer after an experience with a brand’s products or services.
Customer sentiment surveys: This is a list of questions presented to customers to indicate how they feel towards the company’s brand.
Behavioural targeting: This entails tracking customers online data to target advertisements and show marketing offers.
Social listening: This involves listening to and analysing trends happening in the brand’s industry so as to make better marketing decisions.
Chat-bot data: Companies use a computer program known as chat-bot to process and simulate conversations with customers. The data gotten from the interactions can be used for marketing and management decisions.
Sampling: This involves collecting a general data or observation from a selected group of people.
Streamline the customer journey: It is necessary to get a better knowledge of what sends consumers away during the customer journey by evaluating customer data and collecting feedbacks. As a result, this will help streamline the purchasing process and user journey for a better customer experience. It will also help the brand’s efficiency to stay consistent and will bring about loyal customers.
Enhance product functionality: Through customer insights, a company will be able to improve the functionality of their products. Gaining knowledge on how consumers use the products and also asking their opinions and ideas on how they can improve their brand’s products and services. With this, companies work out how to develop the products they sell and services they offer while the customers receive great value from the improvements.
Optimizing product or service quality: Learning about the quality of your products and services is very important. This is only possible by engaging directly with customers and monitoring reviews.
Improving customer service: Customers expect the highest quality service, lack of quality customer service will lead to bad feedbacks and reviews. A company should use its customer insights to improve customer service.
Develop new products and services: By listening to and engaging with customers you get to know how to extend your products and services line. This will help customers and the brands get more value.
Inform your marketing strategy: Through customer insights, a company can pick out the affecting trends within an industry, this will help pick out its marketing strategies.
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2016). Marketing: An introduction (13th ed.). Pearson.
HubSpot. (2020). The state of customer service in 2020. HubSpot Research.
Levitt, T. (1960). Marketing myopia. Harvard Business Review, 38(4), 45-56.
Ryals, L. (2005). Making customer relationship management work: The measurement and profitable management of customer relationships. Journal of Marketing, 69(4), 252-261.
Bligh, M. C. (2017). Technology integration in customer relationship management: A qualitative study. Journal of Business & Economics Research, 15(1), 9-14.
Boonlertvanich, P., & Ghose, S. (2013). Technology trends in CRM: A review of the literature. In Proceedings of the 46th Hawaii International Conference on System Sciences (pp. 3431-3440). IEEE.
Kumar, V., & Reinartz, W. (2016). Creating enduring customer value. Journal of Marketing, 80(6), 36-68.
Payne, A., Frow, P., & Eggert, A. (2017). The customer value proposition: Evolution, development, and application in marketing. Journal of the Academy of Marketing Science, 45(4), 467-489.
Reinartz, W., Krafft, M., & Hoyer, W. D. (2004). The customer relationship management process: Its measurement and impact on performance. Journal of Marketing Research, 41(3), 293-305.
Verhoef, P. C., Reinartz, W. J., & Krafft, M. (2010). Customer engagement as a new perspective in customer management. Journal of Service Research, 13(3), 247-252.

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London Business School Master’s in Management (MiM) Essay Questions, Tips and Deadlines [2022 – 2023], Class Profile

London Business School MiM application essay tips & deadlines 2022-2023

Everything you need to know about the LBS MiM Program

Overview of the LBS MiM program

Application essay tips

Admissions requirements.

Class profile
Who gets accepted

Acceptance rate

Life at lbs, overview of the program.

The Master’s in Management (MiM) is London Business School’s longest running Early Careers (EC) programme. The first to be introduced to the EC portfolio in 2009, it has been developed in partnership with LBS’ world-renowned faculty and the recruiters who budding business practitioners aim to work for. It focuses on an applied learning approach, combining theory and practice so that students “learn how different business activities function and areas work together to deliver value”. This is all underpinned by the ethos that learning in a diverse environment (diversity extending to nationality, academic background, professional experience, interests) creates that all-important global perspective.

The MiM offers a flexible programme with exit points at 12-16 months. While some students will choose to complete the degree in three terms, those wishing to go on an International Exchange or take additional electives can opt to continue with a fourth term (additional fee required). Regardless of exit point, all students are required to take 15 modules across terms 1 and 2 along with online pre-programme courses.

Alongside the core curriculum, students are required to select 3 electives from a selection of 80 elective options across the subject areas Accounting, Economics, Finance, Management Science & Operations, Marketing, Organisational Behaviour, and Strategy & Entrepreneurship. Electives are held across programmes and give students a unique opportunity to work alongside MBAs , EMBAs , and other degree programme students. The cross-generational learning element is carried across to other aspects of the programme, such as with the mentorship scheme whereby MiMs can be mentored by MBA and MiF students and alumni.

In addition to the core curriculum and electives that develop hard academic skills, MiMs also focus time on developing the “soft skills that will enable you to build relationships, influence outcomes, and negotiate terms with self-awareness and confidence”. Through the Skills Programme, students work on understanding and honing the skills that employers expect, including interpersonal skills as well as numerical and digital literacy.

Experiential learning is a key aspect of the MiM experience and the programme allows students “to explore the real world of international business through hands-on experience”. During terms 2 and 3, MiMs participate in LondonLAB, an 8-10 week business project that tasks students to work in teams to solve challenges for a range of businesses from start-ups to multinationals across a variety of sectors. Past clients have included the BBC, Unicef, Salesforce, and Depop.

And for one week across terms 1, 2 or 3, students have the chance to participate in one of the programme’s Global Experience courses. Along with other Early Career, MBA, and Leadership programme peers, students work with faculty, corporations, micro-entrepreneurs, and alumni to “interact meaningfully with members of the local business ecosystem and gain an in-depth view of a country’s business culture”. Course themes and destinations are subject to change depending on travel restrictions due to Covid-19 but past experiences have included: sustainability developments in Dubai; examining Austin’s role as a breakthrough technologies hub; and examining what is unique about the venture capital and business ecosystem of San Francisco and Silicon Valley. What is all of this academic theory and experiential learning leading to? For 96% of the MiM2021 class (within three months of graduation), their degree led to a job. Specifically, pre-experience and graduate scheme roles across consulting (45%), financial services (27%), technology (18%), and diversified industries (10%). LBS’ Career Centre and its sector specialists and career coaches provide students with opportunities to engage with employers and “develop the skills and confidence to effectively communicate [their] value to employers”. How do they do this? Through a combination of activities such as: the Career Skills Programme; Personal Development Programme; Business Treks; and company engagements, including the Early Careers Recruitment Evening. While there is focus on helping MiMs to plan and navigate their recruitment journey, care is given to helping students develop the skills needed to network with LBS alumni and future employers, understand how to approach problem-solving and technical challenges at interviews, and how to find roles that match their skills, interests and aspirations.

LBS MiM essay #1

After several years with its mainstay ‘how will the programme support your academic and professional goals’ question, the MiM switched gears slightly last year and introduced a new essay 1 (and reduced word count):

What learning outcomes are you aiming to achieve as part of your Masters in Management programme? What challenge(s) might you encounter? ( 500 words )

While a different approach to the previous essay prompt, this question still tasks applicants to reflect on what they want to get out of the programme. In thinking of learning outcomes, this can be viewed as academic outcomes or professional outcomes, though this should all be underpinned by how the programme’s resources will support those outcomes.

In addressing academic learning outcomes, it would be wise to touch on the knowledge gaps you’re expecting the MiM to fill. Perhaps you come from a business/management background, but your undergraduate degree didn’t offer particular courses you need to achieve your career aims or took a more theoretical approach. Or you come from the sciences or the arts and need general management tuition to help launch your business. You may also need to understand certain concepts for your post-MFA career, or you might be interested in learning more about a subject area that you only touched on briefly during your undergrad. Here you want to discuss a few of the academic components that will support your learning and fill the outlined gaps. But steer clear of providing a list; this is where you want to show research and that you have a solid understanding of how the academic resources will fulfil your individual learning needs. So you need to discuss not just the ‘what’, but also the ‘why’. Also, avoid incorporating LBS resources here. This question is specifically about the MiM.

Learning outcomes can also extend to the professional. A large piece of the MiM curriculum revolves around skills development. Think about whether you need to hone any interpersonal skills to confidently present presentations to clients or to attend networking events with recruiters. Perhaps you need to scrub up on your modelling skills to achieve your consulting aims. This would be a good place to touch on how the Skills Programme and Career Centre will support those professional learning outcomes. A brief reminder of your career aims here is fine but keep it concise as these aims are already discussed in the application form.

The second half of the question – ‘what challenges might you encounter’ – was previously asked in the application form, so it’s not entirely new. But its presence as a standalone essay question indicates the adcom’s interest in understanding your level of self-awareness . This question really requires some introspection. While you may want to touch on the challenges that may arise with achieving the aforementioned learning aims, such as adapting to a new type of study environment or teaching method, it’s fine to also mention any personal challenges. After all, you’re a person. Perhaps you’ll need to employ time management and organisational tools to cope with the hectic schedule and pace, or you’ll need to switch gears in how you approach study in a grad school environment. A brief word on your ability to overcome these challenges to succeed in achieving your learning aims would make for a nice close to this essay.

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LBS MiM essay #2

If essay 1 is about what you have to gain, essay 2 is about what you have to give back and remains with a focus on the wider school community:

During your time as a Master’s in Management student, how will you contribute to the School community? ( 400 words )

The idea of being communal is an essential value at LBS (more on that below). This question gives you a chance to showcase your achievements and how your past successes will allow you to impact the LBS community.

In thinking about how you can add value and contribute , start by reflecting on your experience – academic (undergraduate studies), professional (internships), and personal (extracurricular engagements). Think about where you’ve achieved success and how you can apply learnings or skills from those experiences to contribute. Presenting 3-4 ideas is advisable, but you may find you want to dedicate more word space to 1 or 2 ideas. And make sure these ideas are concrete; writing your international experience will support the learning experience of your peers doesn’t say anything. This is your chance to set yourself apart and show that you’ve not only done your research and understand what the community has to offer, but that you’ve put thought into how you can enhance the community around you.

To be eligible for the MiM, applicants must have less than two years of postgraduate work experience (only postgraduate work experience is considered towards the two-year limit; internships taken during your studies don’t count).

MiMs come from a variety of undergraduate study backgrounds and while there’s no degree requirement, applicants must have achieved or expect to achieve a bachelor’s degree result equivalent to a UK 2:1 minimum / GPA 3.3 or above. Along with a strong undergraduate degree, GMAT or GRE is required and must be taken prior to applying. While there is no minimum score, it is recommended applicants apply with a 600+.

As with other degree programmes, the MiM now requires only one reference, which must be submitted via the school’s online reference system. It is recommended applicants select a previous or current employer, though an academic referee will suffice so long as they can speak to the applicant’s character and abilities.

Along with reference, GMAT/GRE score, and undergraduate degree, applicants are required to submit a one page CV/resume , proof of English, and pay an application fee. Along with all of this comes a number of short answer questions in the application form. As these questions sit in the application form there’s sometimes thought that they’re not as important as the long form essays. Not true! The short answers, which ask questions around your interests, programme/school research, international experience, and career aims are key as they give the adcom an insight into who you are outside of your stats, what motivates you, and what you want to achieve. So do spend time crafting answers to these questions.

The programme runs a staged admissions process. Applicants can apply at any one of the four stages, though early application is advised as competition becomes more intense in the final months.

Deadlines for the August 2023 (MiM 2024) intake are:

Source: LBS MiM website

LBS MiM class of 2022 profile

Students: 282

Nationalities : 51

Women: 56%

International students: 95%

Alumni: 48,000+

MiM 2022 undergraduate study discipline

Business Management: 29%
Economics: 17%
Finance/Accounting: 17%
Engineering: 11%
Social Science: 9%
Maths/Science: 6%
Humanities: 5%

MiM 2022 nationalities by region

Europe (excl. UK): 35%

South East/East Asia: 34%

South Asia: 17%

United Kingdom: 6%

North America: 5%

Africa/Middle East: 2%

Central/South America: 1%

Who gets accepted to the LBS MiM program

The MiM is aimed at driven early career business practitioners who have graduated within the last two years, and with a maximum of two years of postgraduate work experience. While work experience isn’t required – some students will join immediately following their undergraduate degree – most students will have completed some type of professional work experience, whether an internship or full-time role. Work experience is as varied as undergraduate study discipline and students may have worked in MNCs, start-ups, or family businesses. Brand doesn’t necessarily mean everything; the adcom wants to understand why you’ve made the academic and professional choices that you have (connect the dots for them!), skills developed, and learning outcomes, all of which will support your learning experience, and that of your cohort, once on the programme.

While students will be educated on the types of industries and roles they may target post-programme, and where their skillset can be best utilised, all students are expected to be ready to build a foundation for a career in business. What does this mean? That they’ll have thought about their career aims and be able to demonstrate an understanding of their intended path through the application process. The adcom wants to see ambitious individuals who want to make an impact in the world around them. And they want to see individuals who have already achieved success and impacted those around them, be it at school or at work, and seek students who can demonstrate “a track record of excellence, achievement, and leadership potential”.

While data for Freedom of Information (FOI) requests may be found online, LBS, like many of its European counterparts, does not commonly supply information on acceptance or retention rates. But being LBS, it’s safe to assume that competition is fierce. MiMs are just as talented and driven as their more senior counterparts across other degree programmes and there are a lot of big fish looking to make a splash in a relatively small pond.

That said, the MiM admissions process should be considered a selection process. They’re keen to understand applicant journeys and that all important (and rather intangible) fit . This is done primarily through the interview process. While an interview does not guarantee an offer, it’s a sign that the adcom sees something interesting in you that it wants to further explore.

Community is one of the most important aspects of life at LBS – for students, alumni, faculty, and staff alike. This can be seen early from the application stage, where most degree programmes have at least one question in the application about the community and about how an applicant will add value to it.

To be sure, the school doesn’t require, or indeed even expect every student to take a leadership position in a club or lead a trek. But it wants individuals on-campus who are communal in nature; those who participate, who enjoy peer-to-peer learning and teaching, who thrive in collaborative environments .

More than 80 student clubs run more than 1,000 events every year, including social, professional, and cultural clubs. Students play a key role in developing and running student-led events such as the Women in Business Conference, EUROUT and China Business Forum. Whether participating as an organiser or spectator, these events give students the chance to network with one another as well as industry or subject-area experts and engage in discussion and debate about the most important issues facing business.

And community members jump at the chance to socialise outside of the classroom and professional interest clubs or business treks. Whether the annual Tattoo, which celebrates the school’s diversity through food, dance and entertainment, or the fortnightly Sundowners, where students, alumni, faculty, and staff can meet and network, LBSers never miss a chance to celebrate being part of the community.

Get professional guidance with your LBS MiM application! Check out Accepted’s MiM Application Packages , which include advising, editing, interview coaching, and a resume edit for the LBS MiM application.

From Example to Exemplary - Download your guide today!

Related Resources:

5 Fatal Flaws to Avoid in Your Application Essays , a free guide
Early Career Management and European MBA Programs with Jamie Wright , a podcast episode
Exploring London Business School’s Master’s in Analytics and Management , a podcast episode

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Customer Relationship Management (CRM), Essay Example

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Words: 958

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Introduction

Most contemporary organizations have a Customer Relationship Management (CRM) strategy. This strategy is utilized in incorporating a diversity of integration tools that facilitate organizations to put together a closer, and more beneficial relationship with their clientele. There are several CRM solutions which include marketing, sales, customer service, as well as support applications. These solutions facilitate providers in learning more from interactions with customers in an effort to target and capitalize on sales and marketing initiatives. CRM technologies are normally driven by business units in the organization. These technologies assist the organization in benefiting from improved access to customers as well as improved access to and insight, more valuable customer interactions, as well as integration throughout all customer channels and back-office organization functions. Eventually, the outcome is improved customer satisfaction in addition to optimized profitability (Anderson 2002).

Customer Relationship Management

Customer relationship management can be described as a business philosophy. It describes a strategy that makes the customer the prime focus of an organization’s activities, processes as well as culture. Information Technology applications are the major tools which facilitate organizations in implementing this strategy (Jeffrey 2002). The foundation concept of CRM is comparatively simple. CRM endeavors to realize a ‘distinct integrated vision of customers’ and a customer-centric modus operandi. The customer is the sole source of the company’s current profit and projected growth. However, an ideal customer, who grants more profit with fewer resources, is always rare since customers are well-informed and the competition is aggressive. Information technologies may provide the skill to differentiate as well as manage customers. CRM can be viewed as a marketing approach that is focused on customer information.

The relationship between an organization and its clientele involves incessant bi-directional communication as well as interaction. The relationship may be long-term or short-term, discrete or continuous, and lastly one-time or repeating. Relationship may be behavioral or attitudinal. Although customers may have a positive attitude in regard to the organization and its products, their purchasing behavior is greatly situational (Jeffrey 2002). For example, the purchasing pattern for airline tickets is dependant upon whether a customer purchases the ticket for a business trip or a family vacation. CRM entails the management of such a relationship with the view of making it more valuable as well as mutually beneficial.

CRM entails incessant corporate change in processes and culture, thus it must be understood that CRM is not an activity confined in the organization’s marketing department. The customer data compiled is transformed into corporate data that subsequently leads to activities that exploit the data and market opportunities (Anderson 2002). Customer relation management is a strategic tool for retaining customers through a combination of efforts where customer’s disaffection with the company is reduced to the bare minimum. Virtually every major company especially those in the service industry have a customer relation management department with the sole aim of keeping the customer happy. The worker development should be implemented in an organization in order to create a well motivating and service oriented work environment which will facilitate delivery of effective and high quality client service. The empirical evidence emerging from various studies about the effectiveness of customer relation management strategies so far yielded mixed results that are inconclusive and contradictory(Anderson 2002).

Customer relation management is critical to an organizations triumph in the recent business environment. The clients expectations from an organization are many and their demand so empowered. Customer management has been embraced as a training requirement in an organization with sustainable competitive advantage. Most of the markets are flooded with product and service and thus an organization should aim at maintaining its customers through customer satisfaction. Customer relation management should be a leadership issue and incorporated as a business strategy and thus should start from the organizations leaders. Customer satisfaction will rarely happen by chance and thus leaders should never leave it to chances (Anderson 2002).

Good Customer Relationship Management entails thoughtful customer relation management and customer experience design. The customers’ satisfaction and loyalty to an organization are directly related to the quality of Customer Relation management. The customer has to feel good and comfortable doing business with you. In order to survive in the highly competitive environment many companies are investing heavily in customer service training programs, customer relation management and call center relation management. This is aimed at sharpening the customer focus and build satisfaction and royalty. CRM is founded on three fundamental assumptions. These assumptions include: the customer desires a relationship with the organization that supplies or manufacturers the products or services that the customer consumes; CRM is a process or practice that all firms engage in or ought to engage in to some extent; that good CRM enhances the degree of emotional bonding between the supplier and the customer. These assumptions are however, subject to further research (Jeffrey 2002).

Customer relation management is one of the principles of total quality management. Customer management is about caring about customer needs. Looking into a customer needs is providing customers with the products and services that they require. Hence the aim of customer relation management is to respond to those needs in a proactive way by identifying the service needs, dealing with customer requests, taking action to avoid delays, and interpreting the organization procedures in responding to the customer’s needs, and this is what distinguishes successful organizations from the poor performing organizations. Customer Relationship Management (CRM) is a broad term covering all concepts utilized by organizations to manage their interactions with clientele. This mainly includes the capture, storage and analysis of customer information. Individual clients create preference for their firms and enhance business outcomes over a lifetime of relationship with their clientele (Jeffrey 2002).

Works Cited

Anderson, K. & Carol K. Customer Relationship Management. New York: McGraw-Hill, 2002.

Jeffrey. P. CRM: Redefining Customer Relationship Management. Woburn. MA: Digital Press. 2002.

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Masters abroad: preps and steps

The Ultimate Guide to Crafting a Standout MiM Application

The Master in Management (MiM) is a postgraduate degree focused on comprehensively understanding business fundamentals and management principles. It equips graduates with the skills necessary for leadership roles in various industries. According to the GMAC application trends report, there has been a 2.61% increase in applications to MiM programs, with 52% of surveyed programs noting higher application volumes. This starkly contrasts the declining application rates for traditional two-year MBA programs, with 70% reporting decreased volumes.

For international students aspiring to pursue a Master in Management (MiM) program, understanding the application process is crucial. MiM programs offer a pathway to advanced business education, equipping students with valuable skills and knowledge for success in the corporate world.

Yocket Premium offers essential resources and support for international students applying to MiM programs. Elevate your study abroad journey with Yocket Premium ! Access expert counsellors, cutting-edge technology, and impressive success rates: $15M+ in scholarships, 98% visa success, and 22+ countries covered. Join us for a seamless pathway to your international education dreams!

What is MiM?

MiM, or Master in Management , is a graduate-level degree centred on business and management studies, providing students with a solid foundation in business fundamentals. Tailored for recent graduates or early-career professionals aiming to accelerate their careers, MiM programs cover essential areas like finance, marketing, operations, and strategy.

Lasting one to two years, MiM programs offer comprehensive coverage of various business topics, equipping students with a broad skill set to succeed in diverse industries. Admission typically requires a bachelor's degree and proficiency in English, with some programs also requiring standardised test scores such as the GMAT or GRE .

Upon completing a MiM program, graduates emerge with a firm grasp of business basics and valuable leadership skills, positioning them for success in their chosen fields. The program's focus on practical skills and real-world applications prepares students to tackle challenges and seize opportunities in the dynamic business landscape.

Start your Application Early

Sophie Dimich-Louvet, the director of recruitment who works for the master's program at HEC Paris, stresses the need to start the application process early. She advises applicants to attend webinars, seek personalised consultations, contact recruitment teams for CV reviews, and prepare for exams if required. Taking these steps can significantly improve applicants' chances of securing admission.

Reflecting on one's motivations and plans is crucial when selecting the right business school and master's program. Rather than solely relying on a school's reputation or ranking, applicants should carefully consider how well a MiM program aligns with their personal and professional goals.

Start your Application 12 Months Before the Deadline

Academic Background and Test Scores

Your academic history and test results are crucial to your application to a college’s MiM program, offering insight into your intellectual capabilities and commitment to your education.

1. A Strong Academic Record

A competitive GPA and rigorous coursework reflect your commitment to academic excellence, making a solid impression on your MiM application. They demonstrate your dedication and discipline, qualities valued by admissions committees. Highlighting specific impactful courses in your application essays further showcases your academic prowess and relevance to your career goals.

Writing about impactful courses in application essays showcases academic prowess. It also shows their relevance to career goals.
Moving between academic disciplines tells a compelling story. It's about using diverse skills for future success.
Articulating alignment of academic background with career aspirations strengthens candidacy.
Work experience, standardised test scores, and extracurricular involvement contribute significantly.
Presenting a holistic view of academic and professional achievements maximises chances of admission.

Your academic background and educational journey shape your application narrative, particularly transitions between disciplines like engineering and marketing, which showcase diverse skills. Aligning your academic background with career aspirations strengthens your candidacy. While attending prestigious schools can help, factors like work experience and test scores also matter significantly. Presenting a holistic view of your achievements boosts your chances of MiM program admission.

2. Standardised Test Scores (GRE/GMAT)

Submitting a high GMAT or GRE score is crucial, aiming for at least 720, especially for top schools like HEC and ESSEC. While there are no recent average scores, the median GMAT score was 710 in 2018. Excelling in other areas of your application can compensate for a lower score. The GMAT carries significant weight in the application process, so thorough preparation is essential. Utilising resources like GMAT prep software can significantly enhance your performance.

3. Showcase achievements and overcome weaknesses.

When detailing your academic achievements in application essays, it's vital to acknowledge gaps or weaknesses while showcasing your strengths and resilience. Highlighting relevant awards and honours demonstrates your educational excellence and ability to overcome challenges.

Emphasise your resilience by sharing real stories of overcoming obstacles, as top business schools value individuals who demonstrate perseverance. You strengthen your candidacy for esteemed MiM programs like HEC Paris , ESSEC , and ESCP by showcasing your ability to overcome hardships.

Professional Experience and Internships

Professional experience and internships are crucial in your HEC Paris MiM application, alongside a solid academic background. They showcase your practical skills and industry knowledge, enhancing your candidacy for a European MiM program.

Previously, HEC Paris imposed a strict limitation on professional experience, typically allowing up to two years. However, this restriction has been lifted, as it is no longer evident on their website.

While specific requirements vary among schools, typically, possessing 1-3 years of professional experience positions you ideally to maximise the benefits of the MiM program.

Work experience requirements for MiM programs at US universities vary widely. Some programs may prefer candidates with little to no work experience, while others may welcome applicants with several years of professional experience. It's essential to research the specific requirements of each program you're interested in to determine if your level of work experience aligns with their expectations.

Leveraging internships and part-time jobs

Internships and part-time jobs are instrumental in demonstrating your experience and dedication to your career objectives, especially when they align with your goals, either directly or indirectly.

When discussing these experiences, underscore the opportunities for growth and learning they provided, emphasising the skills you developed and their relevance to the MiM program.

For instance, in your application, you may highlight part-time freelance work as a video editor for a local marketing and advertising agency, illustrating how it connects with your aspirations in marketing.

Transferable skills and leadership potential

Your professional experience encompasses crucial transferable soft skills like problem-solving, communication, and teamwork, which schools highly value. It's imperative to identify these skills and provide concrete examples of how you've applied them in your work environment, demonstrating your self-awareness and ability to leverage strengths effectively.

Moreover, emphasise any leadership roles you've undertaken, showcasing your capacity to take the initiative and drive impact within your industry. Leadership potential is significant for esteemed institutions like HEC, so highlighting your leadership experiences is paramount.

In your essays, focus on authentic narratives detailing your leadership experiences, highlighting your personal growth and contributions rather than merely discussing lessons learned from others. This approach allows you to showcase your unique leadership potential effectively.

Extracurricular Activities and Leadership

1. show the value of your extracurricular activities.

Engaging in extracurricular activities showcases your capacity to manage multiple responsibilities and cultivate essential soft skills. Participation in such endeavours fosters teamwork, communication, and adaptability, enhancing your candidacy for the MiM program.

Highlighting your involvement in diverse extracurriculars is crucial. Ensure you communicate about various activities you've participated in, emphasising their role in developing your skills and enriching your candidacy.

Detail your involvement in extracurricular activities.
Discuss the impact these activities had on others
Describe the personal implications of participation
Highlight skills developed, both hard and soft

2. Include examples of impactful extracurriculars

Engaging in impactful extracurricular activities, such as volunteering for a cause or participating in professional clubs, benefits your MiM application. For instance, leading a fundraising campaign for a local charity demonstrates leadership, organisational skills, and community engagement.

3. Demonstrate leadership skills and potential.

To enhance your MiM application, highlight leadership roles in extracurricular activities, such as founding a student-run initiative or leading a community service project. For instance, initiating a mentorship program for underprivileged students demonstrates leadership, initiative, and a commitment to social impact. These experiences showcase your ability to drive change and inspire others, making you a compelling candidate for MiM programs like HEC Paris.

4. Importance of International Experiences in MiM Applications

Top MiM programs like HEC, ESSEC, and INSEAD, as well as leading MiM offerings at US universities like Duke and Australian institutions like the University of Sydney, prioritise international experiences in applicants' profiles. These programs prepare candidates for global careers, seeking individuals capable of thriving in multicultural settings and collaborating with diverse teams worldwide. International experiences foster a global mindset, adaptability, and unique perspectives, which prestigious MiM schools highly value.

Highlight cultural adaptability through international experiences or involvement in diverse communities.
Showcase language proficiency with fluency in multiple languages or language-related activities.
Demonstrate cross-cultural collaboration through international projects or diverse team experiences.
Discuss how exposure to different cultures has shaped your perspective and skills.

Compelling Essays and Personal Statements

Crafting compelling application essays is crucial as they are the cornerstone of your MiM application. Addressing essay prompts effectively, ensuring relevance and impact, is paramount. Constructing a coherent narrative that flows seamlessly enhances readability while conveying all pertinent information. Your essays serve as a window into your achievements and potential. Thus, presenting them effectively is essential for a successful application.

Strong Letters of Recommendation

When applying for a MiM in Europe, selecting the right recommenders can significantly impact your application. Choose individuals who know you well and can provide a comprehensive and personal account of your abilities and potential.

Ideally, your recommenders should be professionals or academics with whom you have established a strong relationship. These could include supervisors, managers, professors, or mentors who have witnessed your growth, accomplishments, and work ethic.

For example, suppose you applied for your MiM program. In that case, you can ask your former manager from an internship and one of your favourite professors who had taught you in several courses to write recommendation letters. They deeply understood your skills, strengths, and aspirations, allowing them to provide detailed and personalised accounts of your potential as a MiM candidate.

Language Proficiency

Ensure you include your English proficiency test scores (TOEFL, IELTS, Cambridge, or PTE) in your application and any other relevant language certifications. Be sure to verify the specific requirements of the MiM in Europe program you're applying to, as schools may have varying score requirements or preferred tests.

Additionally, emphasise experiences that have contributed to your language proficiency in your application. This could encompass participation in study abroad programs, language courses, or other relevant experiences where you practised and enhanced your language skills.

For example, you may highlight your participation in a summer school program in France. Despite the program being conducted in English, the immersion in the French environment for several weeks will deepen your understanding of French culture and customs.

Proofreading and reviewing your application

Completing your application ahead of schedule is essential. This allows you ample time for proofreading and reviewing before submission, enabling you to identify any glaring errors or oversights that may have been overlooked.

From the Desk of Yocket

Emphasising academic excellence, practical skills, and a global perspective, your MiM application should reflect your readiness for advanced business education. Highlighting your unique strengths and experiences while addressing all requirements precisely enhances your candidacy.

Leveraging resources like Yocket Premium provides essential tools and guidance for navigating the application process effectively. With dedication and strategic execution, you can craft a compelling narrative that sets you apart in the competitive landscape of MiM admissions, paving the way for a successful journey towards your academic and career aspirations.

Frequently Asked Questions

How do I create a strong MIM profile?

To create a MiM profile, ensure you meet academic requirements, gather relevant work experience (if needed), and prepare for standardised tests. Compile documents like a CV/resume, letters of recommendation, and a statement of purpose, then submit your applications before the deadlines.

How do I prepare for MiM?

To prepare for a MiM program, focus on enhancing your academic skills, gaining relevant work experience, and excelling in standardised tests like the GRE or GMAT. Research the programs you're interested in, develop strong communication and leadership skills, and engage in extracurricular activities to bolster your profile.

Does MIM have scope in future?

Yes, MiM programs are anticipated to remain relevant and in demand, offering graduates valuable skills for various career paths in business.

Does Google hire MIM graduates?

Yes, Google hires MiM graduates for various roles in business operations, marketing, sales, and strategy. However, specific hiring criteria may vary depending on the position and the candidate's qualifications and experience.

Does McKinsey hire MIM graduates?

Yes, McKinsey & Company does hire MiM graduates for entry-level positions and some consulting roles. They often recruit from top MiM programs and value candidates with strong academic backgrounds, analytical skills, and leadership potential.

Which country is best for MiM?

The "best" country for pursuing a Master in Management (MiM) depends on various factors such as your career goals, preferred study environment, language proficiency, and personal preferences. However, countries like France, Germany, the United Kingdom, and Switzerland are popular choices due to their renowned MiM programs, international reputation, and opportunities for networking and career advancement.

How to Master Your Masters in Management Application Essays

The MiM application is not an essay writing contest, but essays are an important part of the admissions decision

What do you need to fashion a flawless admissions essay? Succinctness? Clarity? Verve? For Master’s in Management (MiM) candidates applying to the top business schools, possessing all three traits would be invaluable.

Excellent essays are vital to securing a place on a MiM course, because participants usually have little or no work experience. “Work experience is a much less decisive data point and the résumé is usually a less differentiating factor,” explains Jessie R Borges, a senior admissions consultant and trainer for Kaplan Test Prep. So, well-written essays play a more pivotal role in the admissions process.

Boban Sulic, senior admissions manager at ESMT Berlin, along with his colleagues, this year reviewed 727 applications for the German business school’s Master’s in Management program. Prospective students answer three essay questions, providing a frank description of themselves, what matters to them, and their career goals.

The essays are read by the admissions team and compared with a candidate’s CV and recommendation letters. Favorable applicants are then invited to an in-person interview, where the questions posed are informed by the essays.

Cornerstones of Masters in Management essays: Brevity and clarity

The admissions team is looking for brevity and clarity in written prose, according to Sulic. “When essays are too literary or do not answer the questions directly, they do not really tell much about the candidate and are simply not interesting to read,” he says, candidly. “The worst story is a story that does not raise a single question for the one reading it.”

After reading a good essay, Sulic says that his interest is piqued. “It should make me curious. It should make me feel like I know the applicant a bit more personally and not just what they have achieved and want to achieve.”

He adds that there is no format for a perfect essay: “Each essay is individual, and each honest and personal answer makes a positive impact in a different way.”

While questions differ for each school, essays tend to revolve around a candidate’s strengths, learning and career goals, and reasons for choosing that particular school, according to Kaplan’s Borges.

“Applicants should be ready to nail [these subjects] in order to build an outstanding application,” he says. But don’t provide reviewers with a laundry list of strengths, learning goals, and features of a school that interest you. “Focus and depth is much more important than breadth.”

It pays to use examples, Borges adds. “If leadership is one of your strongest abilities, don’t just say that you’re a good leader; provide an example or two that demonstrate how you are effective and what your leadership style is.”

Some business schools use video essays to assess candidates. Those applying to the Kellogg School of Management’s MS in Management Studies course, answer randomly generated questions that are similar to interview questions, with 60 seconds allotted for each response. The school says the video format enables a more personal courtship than penned prose.

Achieving perfection in a written or video essay is challenging, but achievable, says Alex Min, CEO of The MBA Exchange, an admissions consulting firm. “The essay must fully answer the question, provide credible support for the points being made, and reveal authentic insights that humanize and differentiate the candidate,” he says.

The ‘three deadly sins’ of Masters in Management essays

Because admissions consultants sift through stacks of essays, it’s important to avoid the ‘three deadline sins’ of predictability, monotony and ambiguity, Min adds. “A candidate whose essays take the adcom [admissions committee] on a journey of thoughtful reflection, succinct descriptions and compelling imagery, is likely to earn an interview invitation.”

When compiling video essays, he advises candidates to focus on production quality, too. “Look out for lighting and backdrop; audio and video clarity; presence and demeanor,” he says.

It makes sense to seek a second opinion on your essays; some students spend money on consultants who help them frame their personal story on paper, or improve their communication via video. But business schools have in recent years tried to stamp out “ghostwriting”, when applicants pay people to write their essays.

There is a wealth of such services online, but using them can result in your application being rescinded. Many schools are using technology to spot fraud, such as Re Vera, a candidate verification service that helps to ensure applicants represent themselves truthfully.

“It would be naïve to assume that every applicant produces essays from start to finish in total isolation,” says Min. “However, without exception, a candidate’s ownership of and accountability for his or her final essays must never be compromised.”

Consultants warn that it is important not to neglect the other elements of your application, which usually include a standardized test, such as the GMAT. “On the one hand, the MiM application is not an essay writing contest,” says Kaplan’s Borges. “But, make no mistake about it: your application essays are an important part of the admissions decision.”

Masters in Management essay tips:

Check your spelling and grammar: Your essay is one of the first impressions you can make on the Master in Management admissions committee; make sure you cross all your i's and dot your t’s.
Respect length suggestions and other limitations: Rules are rules!
Recruit an editor: it’s always a good idea to have somebody double-check your Masters in Management essays, especially if English is not your first language.
Don’t plagiarize: Use your own words, rather than somebody else’s. With new technologies that are available to business schools, you probably won’t get away with it.
Think about structure: If you work up an outline for your Master in Management essay beforehand, you have a better chance of clearly expressing your thoughts.

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Customer Relationship Management Software Essay

Introduction.

Customer Relationship Management (CRM) is a common buzzword in today’s business circles. Some researchers define it as an interactive tool for managing a company’s relationship with its customers, or clients, while others perceive it as a set of processes and activities for organisations to communicate with internal and external shareholders. CRM strives to do three main things – create precise marketing campaigns, create a coherent view of customers, and create an effective consumer database.

Precision marketing predominantly focuses on creating products and services that appeal to customer needs (to increase sales). The database creation is part of wider trend created by CRM to increase investments in data warehouses.

Some researchers adopt a simplistic approach of understanding CRM by saying it stems from the appreciation of the need to treat customers well (and pay for information that would help companies to do so). Others claim it is a platform for companies to integrate their business processes and add value to customers.

Companies adopt CRM by buying appropriate software. CRM software applies to key service areas of an organisation, such as marketing, customer service, and technical support. Its functions include “providing a central database where customer related information is stored, retrieves and display that information and reporting tools to interrogate it and answer questions critical to the business.”

Observers say companies use CRM software to track, manage, and store information that relates to their customer relationship platforms. The main goal of doing so is to enhance a company’s relationship with its customers. Through the codification of customer-business interactions, CRM software has allowed many companies to benefit from increased sales and improved customer loyalty.

Using key performance indicators, companies have also used the CRM software to target their customer service strategies in key performance areas. Companies that have done so have decreased idle time and deleted unproductive contacts in their customer service lists. Based on the opportunities that CRM offers, this paper explores the CRM software by exploring its background, benefits, and limitations. However, before delving into this analysis, it is, first, important to understand CRM software.

What is CRM Software?

There are different types of CRM software. Sales automation software and campaign management software are the main types of software in business. Both types describe the full CRM software. However, many companies have been using a pared version of the full CRM software (CM software) because it could offer the same advantages as the complete software version.

The CM software appeals to several organisations because it offers many of the advantages associated with the full CM package, without causing disruptions to an organisation’s operations. For many customer-oriented start-ups, the CM software only helps to augment existing customer service procedures, as opposed to replacing them with alternative procedures. Lastly, the typical CRM software provides a basic method of tracking and documenting customer needs. This platform simplifies the customer service process by providing personalised service to customers.

What Necessitated the Introduction of CRM Software?

Researchers have linked the rise of CRM software to decades of globalisation, which created an increased need for organisations to cope with changing customer demands and preferences. The onset of mass production in the late 19 th century and early 20 th century created an increase in products and customers worldwide. Businesses had trouble keeping up with demand and ultimately lost the personal touch they had with customers because the customers became “numbers” in company systems.

For example, the purchasing process that allowed customers and businesses to interact changed. Businesses did not interact with customers directly because agents stepped in the supply chain to offer mass products and services to customers on behalf of the manufacturers.

Consequently, many businesses lost their understanding of the individual needs of customers. However, this trend recently changed as the businesses strived to re-establish a personalised relationship with their customers. Doing so has been problematic. This is why many companies have decided to use technological tools to help them re-establish customer relationships. Through this need, CRM was born. Based on these intrigues, software developers have based CRM software on the five building blocks outlined below

How Does the CRM Software Work?

Many people have confused CRM with relationship marketing. However, the latter stems from a different philosophy of customer relationship management, which argues that most customers would be inclined to stay with an organisation if they enjoy beneficial relationships with their service providers.

Some researchers have simplified the concept of relationship marketing by saying that it involves attracting, maintaining, and enhancing business-customer relationships. Others believe it describes the nature of relationship between businesses and their customers. For example, One Business 2014 says

“Customer Relationship Management (or CRM) is a phrase that describes how a business interacts with its customers. Most people think of CRM as a system to capture information about customers. However, that is only part of the picture. CRM involves using technology to gather the intelligence you need to provide improved support and services to your customers.”

The CRM concept is useful in implementing this process by providing the right tools for applying relationship-marketing concepts. To realise these benefits, companies adopt CRM software differently. However, commonly, they install the software in call centres and provide customers with information regarding their questions, or direct them to the right agent where they would get help. To explain this fact, some researchers say, “CRM technology applications link front office (such as sales, marketing and customer service) and back office (such as finance, operations, logistics and human resources) functions with the company’s customer touch points.”

What are the Benefits of CRM Software?

As highlighted in this paper, the CRM software helps organisations to maintain and utilise a comprehensive database for customer relationship management. Such databases could add value to an organisation in different ways. However, generally, they are instrumental in improving business-business relationships and business-customer relationships.

Business-Customer Relationships (B2C)

Customers have often grappled with the problem of poor customer service, even with organisations that have well established customer service centres. The CRM software helps customers to realise improved service quality by building a consistent experience with service providers. For example, since CRM allows employees to see a customer’s service history, customers are bound to enjoy the benefit of interacting with a well-informed employee.

Having access to a customer’s service history also allows a company to suggest suitable products that would suit the needs of a customer. Similarly, armed with adequate information about a customer, a technical support employee could help customers solve their concerns at an appropriate level of support. By regularising business-customer relations, the CRM software could also allow customer service employees to hone their skills by optimising their customer service techniques.

This could happen by enabling service providers to offer targeted solutions to customer needs. This way, customers could avoid getting irrelevant information from companies. Poor customer service is a common problem that highlights this challenge because customer service employees often suffer from fatigue and repetitively answering customer questions.

The CRM software helps to solve this problem by “gamifying” customer service environments by tapping into their needs for achievement and status in the customer service environment. Therefore, through their visceral need for achievement, customer service employees improve their services through a structured competitive environment.

Business-Business Relationships (B2B)

Despite the common understanding that CRM software works to improve business-customer relationships (only), evidence shows that CRM software could also improve B2B relationships. The benefits that most businesses enjoy from adopting the CRM software emanate from improved information transfers and improvements in organisational efficiencies. These benefits emerge in different ways.

For example, increased collaboration in the workplace, through CRM software applications, improves cohesion among employees and, by extension, productivity in the organisation. This benefit is useful to organisations that have different employees working on a single account.

For example, Prof Company is a human resource company that used information integration capabilities of the CRM software successfully to improve its customer service relationships. The software allowed employees to know their customers and understand the types of products and services they were interested in. However, the company’s management said the greatest problem they encountered when using the software was its inability to track changes in customer preferences.

For example, although the software allowed them to know who was buying from them, they could not ascertain why the customers kept coming back to them. Nonetheless, referring to the advantages of the CRM software, some researchers reveal, “The CRM software provides tools to organise multi‐step interactions, helps to organise and prioritise sales leads, answer customer service requests, and other common workflows.”

Although B2B advantages of CRM complement B2C relationships, both types of relationships have different characteristics (business-to-business relationships have a longer maturity time than business-to-customer relationships). Therefore, the best software for B2B relationships should have a “personalised feel” which meets the business needs of the different businesses. Modern business practices require businesses to coordinate with one another to create operational efficiencies in the market. Given most of these interactions are virtual, businesses find it easy to interact in real-time through CRM software.

Advantages to Individual Companies

Besides improving B2B and B2C relationships, the CRM software also offers individual benefits to companies. For example, businesses could benefit from improved branding if they offer a consistent high quality customer service to their customers. Studies have also shown that the adoption of the CRM software could also improve a company’s revenue by 41%.

The same studies have also shown that customer retention could increase by 27%. In line with these benefits, companies that adopt the CRM software could achieve a lead conversion rate of up to 300%. Researchers have also reported improvements in information continuity among companies that adopt the CRM software.

Although such software appeal to large organisations, small or medium-sized organisations that adopt CRM early are likely to experience exponential growth as well. This advantage is especially important for service-oriented companies because creating an excellent customer service reputation, while growing, is important for their success. For example, Goods Company is a global consumer company that successfully used the CRM software to improve customer information availability and customer relationship management.

The company used the software to improve its call centre services in America and Europe. It found the software useful because it added value to its customer relationship management process by creating a problem resolution database. The biggest problem with adopting the software was the unavailability of customer information. This problem emerged from its distribution system, which mainly centred on distributing the company’s products via its distributors.

Therefore, it was difficult to know the end users. Consequently, the CRM software only captured information about customers who responded to the company’s advertisements. Usually, these customers called the company through the number advertised on billboards. They mainly wanted to know where the nearest stock list would be. The only other way that the company obtained information from their customers was through clients who registered their products with the company.

Through this method, they could get information about the customers when they made follow-ups about the products. Comprehensively, Goods Company had very little information about their customers. However, by using the CRM software, they could improve their relationship management process using the little information they had about them.

Lastly, CRM could help an organisation to handle many employees without affecting other aspects of its performance. Particularly, such companies could manage many employees without affecting their core strategy. Furthermore, if these companies adopt the CRM strategy early in their life cycles, they are less likely to experience operational disruptions from its adoption. Particularly, small companies could learn from the implementation and cost strategies associated with CRM by adopting the software early in their life cycles. This way, it would be easy to maintain quality customer service as they grow.

Limitations of the CRM Software

CRM software is easy to use and offer immense advantages as highlighted in this report. However, some companies have had a problem with its implementation because of its limitations. To understand the effects of these limitations, researchers say many CRM systems use the standard software. Flexibility issues, high cost, and limited functionalities are only some problems associated with the average CRM software. Limited control and increased competitiveness are also other limitations associated with the CRM software.

Based on these limitations, the greatest weakness of the typical CRM software is the assumption that all organisations have the same customer management relationships. However, this is not the case. For example, some businesses have a direct contact with their customers, while others do not enjoy this benefit. Illustratively, this paper has already shown that Prof Company and Goods Company do not enjoy the advantage of directly contacting their customers. Instead, they use agents to do so.

This is why they experienced some difficulty using the CRM software to improve their customer service processes. In detail, Goods Company had trouble understanding the characteristics of their customers. Similarly, Prof Company had trouble monitoring the levels of service offered to their customers using the CRM software. This way, they could not report on the level of service offered by the company to existing and potential customers.

On an unrelated analytic sphere, other companies have had trouble with the CRM software because of its functionality problems. Mainly, this problem stemmed from the inability of the software to hold data about specific customer groups. For example, researchers say the CRM software is unable to accept configurations that would allow it to hold data about individual customer sales volumes. This is an interesting finding because most CRM vendors sell the software as an “all-fit” technological tool.

Why Do Some Companies get it wrong?

Customer relationship management is part of a wider trend in the business environment that strives to adopt innovative technological methods to provide business solutions to contemporary business problems. However, as some scholars observe, many businesses devour the potential of these IT-based solutions by giving little thought to best practices in CRM adoption. Instead, many business managers continue to subscribe to a philosophy where technology is part of an enchanting and liberal financial system.

However, the magic bullet theory of IT presumes that when managers change this thinking, they are likely to benefit from improved business performance. One problem associated with IT-based business solutions, such as the CRM software, is the emphasis on success as opposed to the implementation of the technology.

The French Socrate Railway System emphasises this challenge because it shows how employees could sabotage a system by placing too much emphasis on the success of the software as opposed to what they could do to implement it appropriately. To emphasise this fact, some scholars remind us that history has many examples where companies leaped into adopting new technologies without evaluating how such technologies could suit their business needs.

This challenge has characterised the adoption of CRM software. Moreover, researchers have also observed it during the adoption of Business Process Reengineering (BPR) and Enterprise Resource Planning (ERP). Relative to this discussion, some researchers believe that many organisations fail to learn from the mistakes created by other organisations. Many literatures that focus on CRM software fail to provide an accurate picture of its adoption because they mainly depend on vendor rhetoric and information developed to suit managers.

Researchers have also highlighted the technical knowledge of operating CRM software as another impediment of its adoption. For example, Eng. Company (a globally recognised engineering firm that offers technical solutions to different telecommunication firms) recently adopted the CRM software to improve the effectiveness of its customer service department. Although the company intended to use the software to increase its efficiency, it derailed its progress.

One problem was the technical expertise needed to administer the CRM software (Light 2001). Most of the customer service employees were used to using paper-based customer service methods to undertake their duties. When the company introduced the CRM software, they took a lot of time understanding how the system works as opposed to focusing on their main duty – serving customers. Therefore, their efficiency declined in this regard.

Lastly, another reason why companies fail to realise the benefits of CRM software is the poor designs of some of these technological tools. Of importance is the limited application of CRM software for small organisations. Stated differently, most software developers design the tool for use in large organisations.

This action exists despite the immense growth of CRM adoption in small businesses, relative to large businesses. In fact, some researchers reveal that, today, small organisations adopt CRM three times faster than large organisations do.

Conclusion (Future of CRM Software)

Many authors highlighted in this paper agree that the CRM software strives to improve relationship marketing. They have also revealed that the software is incongruent with the relationship management goals of most organisations. These goals aim to improve customer service delivery. However, researchers warn that focusing on customer issues without understanding problematic issues that could emerge from functional silos could possibly impede the future success of CRM software.

The common experience of most companies with CRM is that they implement CRM in unique functional areas (only), such as marketing or call centre services, without focusing on how they would integrate with other departments. For example, this paper showed that Goods Company implemented the CRM software in its call centre department and overlooked how this department would improve the functionality of other sectors of the organisation.

They needed an IT-based support mechanism to synchronise call-centre functions with other organisational functions. This step shows that it is crucial to adopt a holistic approach to CRM adoption. Other companies similarly highlighted the need to adopt a holistic approach to CRM adoption. For example, Eng. Company failed to realise the comprehensive benefits of CRM software by failing to adopt a comprehensive view of its adoption (they used the software to improve operational efficiency).

Mainly, they used the CRP software to improve business-business relationships (linking the business with retailers) without considering how the same system would improve business-customer relationships. A different company, Man Company, implemented the CRM system in its sales department, but quickly realised the need to include other departments in the system to realise the wholesome benefits of CRM.

Based on the need for a comprehensive approach to CRM adoption, the organisation included other departments and partners in procuring and adopting CRM software. Based on this understanding, observers reveal that using the CRM software in a localised manner would not provide the desired payoff. Indeed, most organisations rush to figure out how the system would create operational benefits without understanding how it would create an organisational fit.

For example, the CRM software needs to offer back office integration capabilities that allow customers to link different interactive platforms (such as phone, web, and email). Comprehensively, to improve the usability of the CRM software, there is a strong need for software developers to design new CRM software, which contain the core elements of traditional customer relationship tools and avoid the complexity of traditional software. For example, they should eliminate features that increase costs and instead provide software, which simplify implementation.

Bibliography

Ang, L & Buttle, F 2006, ‘CRM software applications and business performance’, Journal of Database Marketing & Customer Strategy Management , vol. 14, no. 1, pp. 4 – 16.

Baumeister, H 2002, Customer Relationship Management For SME’s.

Chen, I & Popovich, K 2003, ‘Understanding customer relationship management (CRM). People, process and technology’, Business Process Management Journal , vol. 9, no. 5, pp. 672-688.

Freeman, P & Seddon, P 2004, Factors Affecting the Realisation of Benefits from CRM Packaged Software-based Work Systems.

Governor Technology 2008, An Introduction to Customer Relationship Management Software .

LAS 2015, Customer management software: an alternative to CRM for small businesses .

Light, B 2001, A Review of the Issues Associated with Customer Relationship Management Systems .

Mack, O, Mayo, M & Khare, A 2005, A Strategic Approach for Successful CRM: A European Perspective.

McNally, R 2007, ‘An exploration of call centre agents CRM software use, customer orientation and job performance in the customer relationship maintenance phase’, Journal of Financial Services Marketing , vol. 12, no. 1, pp. 169–184.

One Business 2014, Customer Relationship Management .

Parvatiyar, A & Sheth, J 2001, ‘Customer Relationship Management: Emerging Practice, Process, and Discipline’, Journal of Economic and Social Research , vol. 3, no. 2, 1-34.

Ragins, E & Greco, A 2003, Customer relationship Management and E-Business: More than a Software Solution.

Rigby, D & Ledingham, D 2004, CRM Done Right.

Rigby, D, Reichheld, F & Dawson, C 2003, Winning customer loyalty is the key to a winning CRM strategy.

Rigby, D, Reichheld, F & Schefter, P 2006, Avoid the Four Perils of CRM.

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IvyPanda. (2020, May 2). Customer Relationship Management Software. https://ivypanda.com/essays/customer-relationship-management-software/

"Customer Relationship Management Software." IvyPanda , 2 May 2020, ivypanda.com/essays/customer-relationship-management-software/.

IvyPanda . (2020) 'Customer Relationship Management Software'. 2 May.

IvyPanda . 2020. "Customer Relationship Management Software." May 2, 2020. https://ivypanda.com/essays/customer-relationship-management-software/.

1. IvyPanda . "Customer Relationship Management Software." May 2, 2020. https://ivypanda.com/essays/customer-relationship-management-software/.

IvyPanda . "Customer Relationship Management Software." May 2, 2020. https://ivypanda.com/essays/customer-relationship-management-software/.

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London Business School Master’s in Management (MiM) Essay Questions, Tips and Deadlines [2022 – 2023], Class Profile

Everything you need to know about the LBS MiM Program

Overview of the LBS MiM program

Application essay tips

Admissions requirements.

Class profile
Who gets accepted

Acceptance rate

Life at lbs, overview of the program.

LBS MiM essay #1

What learning outcomes are you aiming to achieve as part of your Masters in Management programme? What challenge(s) might you encounter? ( 500 words )

Schedule a free admissions consultation >>

LBS MiM essay #2

If essay 1 is about what you have to gain, essay 2 is about what you have to give back and remains with a focus on the wider school community:

During your time as a Master’s in Management student, how will you contribute to the School community? ( 400 words )

The programme runs a staged admissions process. Applicants can apply at any one of the four stages, though early application is advised as competition becomes more intense in the final months.

Deadlines for the August 2023 (MiM 2024) intake are:

Source: LBS MiM website

***Disclaimer: Information is subject to change. Please check with individual programs to verify the essay questions, instructions and deadlines.***

LBS MiM class of 2022 profile

Students: 282

Nationalities : 51

Women: 56%

International students: 95%

Alumni: 48,000+

MiM 2022 undergraduate study discipline

Business Management: 29%
Economics: 17%
Finance/Accounting: 17%
Engineering: 11%
Social Science: 9%
Maths/Science: 6%
Humanities: 5%

MiM 2022 nationalities by region

Europe (excl. UK): 35%

South East/East Asia: 34%

South Asia: 17%

United Kingdom: 6%

North America: 5%

Africa/Middle East: 2%

Central/South America: 1%

Who gets accepted to the LBS MiM program

Jamie Wright has more than eight years of recruitment and admissions experience at London Business School, and is the former Admissions Director for Early Career Programmes at LBS. Originally from the U.S., Jamie is now based in London. Want Jamie to help you get accepted? Click here to get in touch with Jamie Wright .

From Example to Exemplary: How to Use Sample Essays to Make Your Essay Outstanding

Related Resources:

5 Fatal Flaws to Avoid in Your Application Essays , a free guide
Early Career Management and European MBA Programs with Jamie Wright , a podcast episode
Exploring London Business School’s Master’s in Analytics and Management , a podcast episode

This article originally appeared on blog.accepted.com

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Published in MBA , Accepted.com , Admission Consultants , Applications and Blog

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MiM Essay CRM
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Mim-Essay CRM
In Summation. The Application Dashboard is a unique component we have built and perfected based on inputs from 1000's of clients and clients often voice how much it has helped them in every part of the application. You will have full and unhindered access to the same once we start working together.
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Learn how to write an essay on customer relationship management (CRM) and its importance, trends, insights and strategies. This essay sample explains the concepts, benefits and challenges of CRM with examples and references.
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Applying to London Business School's Master's in Management Program? Use these tips to write application essays that impress the adcom and get you accepted!
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This essay explains the concept, benefits, and challenges of CRM, a business philosophy that focuses on customer satisfaction and loyalty. It also provides references to two books on CRM by Anderson and Jeffrey.
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Prospective students answer three essay questions, providing a frank description of themselves, what matters to them, and their career goals. The essays are read by the admissions team and compared with a candidate’s CV and recommendation letters.
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Customer Relationship Management (CRM) is a common buzzword in today’s business circles. Some researchers define it as an interactive tool for managing a company’s relationship with its customers, or clients, while others perceive it as a set of processes and activities for organisations to communicate with internal and external shareholders.
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Customer relationship management (CRM) focuses on the relationship between customer and company. Due to this feature, many companies are trying to establish their own CRM system for helping them to connect new customers and boost old customers’ long-term loyalty.
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Application essay tips. LBS MiM essay #1. After several years with its mainstay ‘how will the programme support your academic and professional goals’ question, the MiM switched gears slightly last year and introduced a new essay 1 (and reduced word count):

Customer Relationship Management and Customer Value

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London Business School Master’s in Management (MiM) Essay Questions, Tips and Deadlines [2022 – 2023], Class Profile

Everything you need to know about the LBS MiM Program

Application essay tips

Acceptance rate

LBS MiM essay #1

LBS MiM essay #2

Deadlines for the August 2023 (MiM 2024) intake are:

LBS MiM class of 2022 profile

MiM 2022 undergraduate study discipline

MiM 2022 nationalities by region

Who gets accepted to the LBS MiM program

Customer Relationship Management (CRM), Essay Example

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The Ultimate Guide to Crafting a Standout MiM Application

What is MiM?

Start your Application Early

Academic Background and Test Scores

1. A Strong Academic Record

2. Standardised Test Scores (GRE/GMAT)

3. Showcase achievements and overcome weaknesses.

Professional Experience and Internships

Leveraging internships and part-time jobs

Transferable skills and leadership potential

Extracurricular Activities and Leadership

2. Include examples of impactful extracurriculars

3. Demonstrate leadership skills and potential.

4. Importance of International Experiences in MiM Applications

Compelling Essays and Personal Statements

Strong Letters of Recommendation

Language Proficiency

Proofreading and reviewing your application

From the Desk of Yocket

How do I create a strong MIM profile?

How do I prepare for MiM?

Does MIM have scope in future?

Does Google hire MIM graduates?

Does McKinsey hire MIM graduates?

Which country is best for MiM?

How to Master Your Masters in Management Application Essays

The MiM application is not an essay writing contest, but essays are an important part of the admissions decision

Cornerstones of Masters in Management essays: Brevity and clarity

The ‘three deadly sins’ of Masters in Management essays

Masters in Management essay tips:

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Information

Customer Relationship Management Software Essay

What is CRM Software?

What Necessitated the Introduction of CRM Software?

How Does the CRM Software Work?

What are the Benefits of CRM Software?

Business-Customer Relationships (B2C)

Business-Business Relationships (B2B)

Advantages to Individual Companies

Limitations of the CRM Software

Why Do Some Companies get it wrong?

Conclusion (Future of CRM Software)

London Business School Master’s in Management (MiM) Essay Questions, Tips and Deadlines [2022 – 2023], Class Profile

Everything you need to know about the LBS MiM Program

Application essay tips

Acceptance rate

LBS MiM essay #2

Deadlines for the August 2023 (MiM 2024) intake are:

LBS MiM class of 2022 profile

MiM 2022 undergraduate study discipline

MiM 2022 nationalities by region