...Approach to Sales ICM 2 2.1 Cybernetics Influence Diagram (CID) 3 3 Sales ICM CID 4 4 Feedback Loop Analysis 6 4.1 Feedback Loop – Commissions Calculations 7 4.2 Feedback Loop - Clawback Calculations 8 4.3 Feedback Loop – Revenue and Cost of Sales 9 4.4 Feedback Loop – Dispute Management 11 5 Conclusion 12 * Introduction: Sales Incentive Compensation Management (ICM) Model is increasingly becoming the key decisive and motivating factor in influencing sales execution to impact the business performance. As sales models are being re-engineered to incorporate more market dynamics and adversities, sales compensation models are also becoming increasingly complex. In the global market where increasing customer reach is a major challenge, it has become essential to include dealers, partners, distributors, retailers, contractors, buying centers across various sales channels into the business’ Sales ICM model. Accurately measuring and rewarding the performance of the sales force (both internal and external to the business) has become the key to driving desired behavior in achieving the business objectives. Failure to understand Sales ICM as a key influencer for the sales force results in mal-aligned, error prone, labor intensive and time consuming compensation processes and a frustrated sales force. It is important to visualize Sales ICM as a business system which evolves and adapts to changing business conditions, making it imperative to understand,...
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...humidity data on shipped goods helped with various types of analytics. Which of the following is an example of predictive analytics? Select one: a. real time reports of the shipment's temperature b. optimal temperature setting c. location of the shipment d. warning of an open shipment seal The correct answer is: warning of an open shipment seal Organizations counter the pressures they experience in their business environments in multiple ways. Which of the following is NOT an effective way to counter these pressures? Select one: a. adaptive actions b. retroactive actions c. reactive actions d. anticipative actions Feedback The correct answer is: retroactive actions Question 6 Which of the following activities permeates nearly all managerial activity? Select one: a. decision-making b. planning c. directing d. controlling Feedback The correct answer...
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...1 Question 1 1 / 1 point Which of the following is defined as the ability of customers to drive down the price of goods and services? A) supplier power B) buyer power or the bargaining power of customers C) rivalry among competitors D) threat of price reduction Question 2 1 / 1 point Are there any direct variables that have no effect on a business' competitive position? A) yes B) No Question 3 1 / 1 point Which of the following are components of an information system? (select all that apply) A) data B) hardware C) people D) process E) software View Feedback Question 4 1 / 1 point According to the Five Forces Model developed by Harvard Business professor Michael Porter, all of the following are major factors that determine a company’s standing in an industry, except for which one? A) Threat of entry of new competitors B) Political and/or economic factors C) Bargaining power of suppliers D) Threat of substitute products/services View Feedback Question 5 1 / 1 point True or false: Early research could not draw any connections between IT and profitability, but later research has shown that the impact can be positive. True False View Feedback Question 6 1 / 1 point Web 2.0 is exemplified by which of the following? ...
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...Topic: System dynamics and feedback loop System dynamics is an approach to understanding the behavior of complex systems over time. It deals with internal feedback loops and time delays that affect the behavior of the entire system. System dynamics use feedback loops and stocks and flows to study complex and non-linear systems. Dynamics of the system contain quantities that vary over time. There are several laws of Fifth Discipline showing how system dynamic works. 1) For every action, there is a reaction. It is self-proofed in the beer game. Every order has to be fulfilled, either in the current week (if enough stock is available) or in one of the next weeks (items go on backorder). 2) Short-term improvements often lead to long term difficulties. In the beer game, it’s always a tradeoff between fulfilling demand and minimizing cost. Timely delivery calls for enough inventory, while cumulative inventory results in climbing inventory cost, due to more people to handle the beer and more storage space, and there is also a possibility that the beer will be left in your inventory when the total period is over or the redundant beer might go bad since it cannot be kept long. 3) Cause and effect are not necessary closely related, either in time or in space. Sometimes solutions implemented here and now will have impacts far away at a much later time. In the beer game, it is not possible for any one component of the system to be immediately aware of the actions and needs of...
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...Abstract The purpose of the paper is to provide an overview of the 360 degree feedback system and how the system may work within a restaurant. An in-depth analysis of the restaurant manager role and the relationship of the role with the 360 degree feedback system is explained in this paper. The process of implementation and the advantages and disadvantages of an implementation is explored before a recommendation is made. The recommendation is to implement the feedback system because an effective feedback system within the restaurant may help to promote growth. Keywords: 360 degree feedback system, restaurant manager 360 Degree Feedback System The 360 degree feedback system is a method of gathering feedback from various sources to include co-workers, customers, direct reports and other members of management. The method is confidential and usually administered through a questionnaire. The 360 degree feedback system gives managers the opportunity to rate themselves in a variety of Performance domains and, through feedback, to see how their self-assessment compares to the assessment of others (Flynn, Garavan & Morley, 1997). A self-assessment or the comparison of a self-assessment maybe used to help the manager develop. The objective is to develop employees within their current roles. Development does not always mean promotion but it is important that employees perform at their absolute best. Every employee is not a leader and some employees do not desire to change...
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...A Day in Life of Alex Slander Problem Statement To identify method in which Sam Glass can effectively implement 360 degree feedback system and utilize it in developing the leadership attributes in Alex Sander. PESTCL Analysis Political: External trade unions can create havoc over employees working for long hours and denied holidays by Alex Economic: Avant-Garde’s skin care products division is aiming at achieving major US market share by launching the product “Nourish” by acquiring the company Landon Care Products Technological: With the advent of new technological interfaces people are able to communicate with the virtual teams across several countries and are able to receive work related feedback. Cultural – The acquisition of an American company, Landon by a European company Avant-Garde created some differences in the work culture of Landon. American employees have to work with their European colleagues, where the cultural differences were high as well. SWOT Analysis SWOT of Alex Sander Strengths | Opportunities | * High commitment to work * Entrepreneurial abilities * Excellent decision making skills * Multitasking * Open to learning opportunities * Good product/market knowledge * Is willing to mentor * Inquisitive/curious * Successfully rebranded two national skin care products- confidence and experience * Relentless * Generous and acknowledges good performance * Proactive | * To get into broader planning areas in Landon * Develop...
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...Tourism System through Mobile App Tourism involves people traveling outside of their community for pleasure. sightseeing for pleasure. Definitions differ on the specifics of how far people must travel. Tourism may also be viewed as a business in which a community or region chooses to engage. Individual tourism businesses conduct a variety of planning activities including feasibility, marketing, product development, promotion, forecasting, and strategic planning. Travel Agency System Account Attractions Contact Information package Event Calccaldd Calls / Queries Survey Phone App Feedback Phone App Service Provider Mobile Application Process Enabling travelers to plan and have the perfect trip offers trusted from real travelers and a wide variety of travel choices and planning features(including Flights search, Mobile and Instant Personalization) with seamless links to booking tools. Internet access have transformed nearly all facets of life, but travel has seen some of the most dramatic changes. Today's smart phones and apps can translate words live on screen, give real-time transportation advice, locate anywhere in the world, act as your boarding pass, book your dinner reservation, and even help you find a cheap, last-minute hotel room. Apps are a good way to connect with consumers, as...
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...carriers to change the content of the information passing through their networks. This led to increased competition in the market and the customers enjoyed a lot of choice. As such Rogers Cable focused completely on increasing its subscriber base and revenue growth, ignoring cost reduction. In 2002 , through customer feedbacks and polls, it was known that customer satisfaction was poor. Further probing of the situation led to the fact that 16% of all installations required servicing within 30 days and the same was for repeat service activities, leading to an enormous financial loss to the company (Exhibit 1). Along with this there is a significant loss of time and resources, both financial and otherwise, in attending those redundant calls. The company outsources most of its field service technicians to 36 business partners, thus having 700-800 contractors nationwide, of which only 18% were Rogers Cable employees. It was so because the demand in the industry was seasonal and hiring full time employees was impractical. Rogers Cable had no central system in place to know which technician had visited a customer, so the technicians didn’t know the exact history of a certain problem or the fact that it might have been reported earlier, ending in visits of different technicians to the same customer. Along with this, the lack of feedback system kept them uninformed about the status of...
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...implementation of customer relationship management in chain of supermarkets in the United Kingdom 1. Introduction Today, more and more companies find that cultivating customer loyalty is a key factor to achieve success. 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. CRM systems include operations and analysis, and relationship marketing strategy and supporting, customer-centric business processes (Buttle 2004). With the development of information technology (IT), using CRM system is more convenient. It is considered as an important strategic compulsory (Coltman 2007), with investment predicting that global costing will increase on CRM system over the future (Gartner Group 2009). From a U.S. based survey, it was found by Goodhue et al. (2002) that a CRM system had already been established or was planned by 91 percent of companies. However, according to Rigby, the application of a CRM system is not very successful (Rigby et al. 2002).The main reason is that more than half of total companies consider CRM as a simple technology solution which aims to build a bridge among marketing, sales and service (Peppers and Rogers, 1999). A successful implementation should consist of different functional departments and be based on the needs of customer, at the same time...
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...Cisco Systems (2001): Building and Sustaining a Customer-Centric Culture Introduction/General Problem Statement: Doug Allred was Vice President of Customer Advocacy organization of the Cisco’s corporation. This organization was erected to consolidated all functions that directly touched the customer but sales to provide high-quality customer service. Since August 2001, the IT market turned down and brought severe challenges to Cisco as the company had to lay off 18% of its employees and reorganized its structure, transforming from decentralized organizational structure with three business units to centralized organization. However, these changes stabilized the volatile situation of the economy but threatened Cisco’s customer focus, a key element of its competitive advantage and a principle of its core operating processes. In order to overcome the disharmony between the structure and the culture, Cisco introduced a Customer Focus Initiative to hold the favor of its key customers. Nevertheless, Allred had no confidence that this action would fix the perceived gap between the structure and the culture. Situation Analysis: The main problem in this case is that how to keep enough resources to be used on the customer focus, which is the core component of the Cisco Company, under the reintegrated decentralized structure. At the beginning of the establishment of Cisco, Lerner, who is one of the founders, “realized that success was developing cutting-edge technology that...
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...Customer Feedback Surveys: Essential Elements Gathering customer feedback can be a challenging process. Businesses need good customer feedback to shape their offerings and services. Having a clear view of a customer’s experience with a company is essential, and conducting a survey is an excellent way to gather essential feedback. The exponential growth of businesses asking for survey input has saturated the market. Customers are routinely asked to respond to survey questions on everything from retail experiences, funeral home offerings, and cell phone plans. As a result, it can be challenging to encourage customers to respond to a survey, and harder still to wade through the false or negative responses to gather legitimate feedback. When designing a survey, it is essential that the survey be worded clearly and directly. It needs to have specific questions that target exactly what the company needs to know: what the customer liked about their experience, what they disliked, and what they would like to see changed. By asking about likes/dislikes/needs, companies target the three ‘B’s of customer experience: beliefs, belonging, and behaviors. In other words, a good survey asks about the customer’s preconceived or confirmed beliefs about a company, what demographic group they belong to, and what behaviors the customers exhibit based on the way they respond to the survey questions. While these general question categories will result in an insightful customer feedback survey, it...
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...1: Case Analysis Submitted to Prof. Gita Chaudhuri Submitted by Santosh Meena Roll No-122085 Section B On 21 July 2012 Letter of Memorandum To, Andrews Piderit, Director Process Engineering Warren Barbour, Director Process Engineering From: Alex Sander, Executive Assistant Date: 21 July 2012 Subject: Report on the recommendations for the First Time Right Program A rise in the large number of redundant truck calls have been reported following a decrease in the customer satisfaction levels. Investigations have come up with many issues pertaining to inefficient field service technicians, lack of inventory, tools. The main aim is to install the products right at the very first place to avoid a significant financial wastage for rework revisits. Introduction of feedback system, Inventory Management System, Training programs and First Time Right program. Effective management of inventory, tools, trainings and First Time Right (FTR) program will have to be taken into account. These are to be implemented in a systematic way without much delay. Words: 106 Content Page: Situation Analysis …………………………………………………… The problem / Objective…………………………………………….. The options…………………………………………………………... Criteria for Evaluation …………………………………………….. Evaluation of Option………………………………………………... Recommendation……………………………………………………. ...
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...in under or on budget.3. Easier to implement.4. Uses industry best practices. | | | Response Feedback: | [None Given] | | | | | * Question 2 Needs Grading | | | List 5 tangible benefits with an ERP.Answer | | | | | Selected Answer: | Tangible benefits: 3. Inventory reduction 4. Personnel reduction 5. Productivity improvement 6. Order management improvement 7. Financial close cycle reduction | Correct Answer: | 1. Inventory reduction.2. Personnel reduction.3. Productivity improvement.4. Order management improvement.5. Financial close cycle reduction.6. IT cost reduction.7. Procurement cost reduction.8. Cash management improvement.9. Revenue/profit increase.10. Transportation/logistics cost reduction.11. Maintenance reduction.12. On-line delivery improvement. | | | Response Feedback: | [None Given] | | | | | * Question 3 Needs Grading | | | List 5 intangible benefits with an ERP.Answer | | | | | Selected Answer: | Intangible benefits: 8. Information/ visibility 9. New/ improved processes 10. Customer responsiveness 11. Integration 12. Standardization | Correct Answer: | 1. Information/visibility.2. New/improved processes3. Customer responsiveness.4. Integration.5. Standardization.6. Flexibility7. Globalization8. Y2K9. Business Performance | | | Response Feedback: | [None Given] | | | | | * Question 4 Needs Grading | | | List 3 principles of re-engineering...
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...“A 360-degree feedback has great promise as a method for creating both behavior change and organization” (Bracken & Rose, 2011, p. 183). Consequently, a 360 degree feedback is a system employees receive confidential, anonymous feedback from the people those who work around them. So, under the right circumstance, this process can create a behavior change that may increase an individual’s job performance. However, through research, it is believed that the 360 degree feedback is the key to improving the quality and effectiveness of performance management in organizations today (Bracken & Church, 2011, p. 36.). Be that as it may, this system is also helpful to individuals who are not in a management role to develop the necessary skills he or she...
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...Report Of Creating A Culture Of Customer Care China Mobile “Communication begins in the mind” of the service concept of adhering to the “communication begins in the mind” service concept, China Mobile, to full service support system (urban and rural areas across the country more than 72,000 sales outlets, clubs and the customer service hotline), unified the cost of settlement systems (including bank debit, telephone recharge cards, direct mode of payment of such fees and billing services) constitutes a comprehensive, all-weather three-dimensional network, 7×24hours of labour services to personalized customer service philosophy to meet the diverse customer group, individual needs. Qualitative feedback: 1. Office of the counter in the mobile, there is a customer satisfaction machine, every time a customer service staff for a finished, even if customers rate the service staff. 2. Interactive survey system a. Regular surveys of customer service communications company satisfaction: if dropped rate it? Customer service attitude right? Timely? Where there is no mobile phone signal over it? b. Periodic surveys of communications products company awareness in the user mind: such as investigation fixed telephone users can now call long-distance direct dial much? Or dial IP more? Regular use of the telephone QQ chat? c. Communication before the introduction of new products, the market for some time do first questionnaire survey...
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