Complexities of doing Business in Present Environment
While the competition is hotting up, it is becoming increasingly difficult to retain and control the people working with the organization, in spite of the employee cost being high. The cost of doing business with a new customer is five times the amount of doing business with an existing customer. While new customers have to be developed, the existing customers are to be nurtured for realizing their full potential. The cost of doing nothing to avoid losing opportunities and customers and reduced employee productivity works out to phenomenal amounts and may even negate the efforts being made. The management needs to have an overview of the existing customer and prospect base so as to enable them to constantly change their business practices to continue to come upto their expectations by continuously knowing the pulse of the market in an ever changing environment The employees on the one hand are needed to be continuously supported to enable them to do their business effec...