The State of China’s Telecommunications Industry
This is particularly important as at any point of time, the relationship Companies in best practices are also establishing responsibility for collection of customer data in a similar manner as they do for financial data with an equal importance to both. A number of additional tasks related to CRM have been identified for senior managers as follows:- Providing the vision for CRM strategically, tactically and in real time continuously and mutually with key stake holders. Collection of all customer data at a single location and aligning processes among stake holders in the service to the end customers.
Adjudicating the demand for funds in the CRM process. Assisting the management and staff at all levels in better understanding of the CRM concepts and in implementation of the firm’s vision for the same. Setting the reward and non incentive mechanism for implementation of the CRM in the organization. Ensuring the flow of money, people and time into the processes of CRM as is desired to achieve the designated goals. Finally it is up to the senior management to ensure that the financial controls are in place to monitor and improve the customer performance.
Future trends in CRM. In designating the future trends in CRM, Kracklauer et al (2004), have designated new strategic frameworks to gain a competitive advantage, customer intimacy and CRM. The authors provide an insight into the next generation CRM which is related with case studies from the most challenging field in management for CRM that is applied to retail distribution. Collaborative Forecasting, and replenishment, Category Management, mass customization are related to an effective CRM program.
Need essay sample on "The State of China’s Telecommunications Industry"? We will write a custom essay sample specifically for you for only $13.90/page
The aim is to develop sustained customer bonding and loyalty. The book has experts from organizations as McKinsey, Procter & Gamble, Accenture, and AC Nielsen along with respected authors from academic institutions who are able to offer significant insights into redesigning the organization of the future. The ability to link theory with actual business life is achieved with the help of case studies. The latest developments in CRM covered include such dynamic issues as mass customization, collaborative customer relationship management and category management.
Most appropriately supported by examples, the book provides good understanding of boosting business in the coming era. Customer transfer is likely to be a major issue in the days ahead as clients will migrate from one company to another depending on the quality of sustained service provided and the loyalty demonstrated. Thus traditional concepts of CRM may soon have to be supplemented by the issues covered in the book. (Kracklauer et al, 2004). Software suites are also available for developing CRM for all its phases.
Some companies as Oracle have specialized in this field. The growth of the Chinese telecommunications industry has been consistent over the years, the exponential growth of the mobile subscribers from 13. 77 million in 1997 to 150. 360 million in 2001 gives a realistic appraisal as indicated by MII of over 441 million in 2006. The trend also indicates that the competition is initially focused in the mobile sector and will now migrate to the fixed line sector as confirmed from other indications. (China Telecom, nd).
The details of revenue earned and expected from China’s telecommunications sector for the period 2003 to 2008 is as per Figure 2 below. It would be seen that voice will continue to dominate the market followed by internet and finally data – A news release by Wang Jianzhang, in July 2006, in his capacity as the Director of the Comprehensive Planning Department of Ministry of Information Industry of China indicated that the base of the Chinese cell phone users will reach 441 million in 2006 and Internet users 128 million. (China’s Phone Statistics, 2006).
The fixed line sector was set to grow by 8. 6 percent to 380 million users. This year on year growth while considerably lesser than that during the last few years of the 1990’s in volumes continues to be substantial. The per hundred cell phone availability will be 34 while fixed line availability is slated to be 29 in 2006. The business growth estimates indicate a year on year These inputs from Chinese statistics are confirmed by a Harvard Business report on China’s telecommunications sector has indicated that in mid 2003, China’s subscribers were 472 million.
(Nolan, Bradley. 2003). The strong position of China in terms of its market power will enable it to become a very powerful global player and thus will increasingly dictate the telecommunications policies globally in the years ahead. China’s telecommunications companies have also indicated that the growth is likely to be much slower in the past. The revenue growth has already slackened by 4. 2 % in June 2006 from that in the same month in 2005. (Dow Jones Report, 2006).