The Practice of Jordanian Banking to Improve Customer Retention

Enterprises have become increasingly reliant on digital information to meet business objectives. Significant amounts of information fuel business processes that involve parties both inside and outside of enterprise network boundaries. In response, many banks have recognized the importance of managing customer retention from the perspective of a process approach to positively impact customer retention. This paper adopts a holistic approach that examines the combined effects of customer processes on customer retention. Drawing on this framework, the paper develops several hypotheses regarding the main and interaction effects of customer processes on customer retention. The paper tests these hypotheses based on a sample of data collected from two hundred respondents, drawn randomly from four Jordanian banks working in Customer Relationship Management (CRM). The results show that customer commitment has strong positive effects on customer retention. However, findings that effect of customer knowledge creation and customer acquisition on customer retention is weaker than that of customer commitment. The empirical findings help both researchers and practitioners in future customer process and customer retention research. The value of the paper consists in establishing the need of researching and incorporating customer retention process as an important support to keep organizations competitive within the global business environment.

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Possibilities of Implementing Customer Relationship Management in the Function of Improving the Competitiveness of the Civil Engineering Sector

Applied Mechanics and Materials ◽

10.4028/www.scientific.net/amm.725-726.977 ◽

2015 ◽

Vol 725-726 ◽

pp. 977-983 ◽

Cited By ~ 1

Author(s):

Boban Melovic ◽

Mijat Jocovic ◽

Irina Lugovskaya ◽

Nikolai Vatin

Keyword(s):

Customer Relationship Management ◽

Business Processes ◽

Civil Engineering ◽

Relationship Management ◽

Business Environment ◽

Customer Relationship ◽

Business Strategies ◽

Crm System ◽

Modern Business

Modern business strategies and quality of business environment are conditions for increasing competitiveness of companies in the civil engineering sector. Basic idea of Customer Relationship Management (CRM) is to shift the focus from the product to the buyer and in that way to build quality, long term and profitable relations. Products and services must be adjusted to the demands and specifications of certain clients. CRM is not a technology but a business concept, business philosophy. Basic aim of CRM in the civil engineering sector is gaining and keeping customers with the biggest purchasing potential. The article show that the implementation of the CRM system is in the direct positive correlation with business results of the companies from the civil engineering sector. In order to make the CRM strategy successful, it is necessary to determine appropriate strategy of creating long term, sustainable and profitable relationships with buyers, then to adjust business processes of the company and if necessary to adapt the organizational structure to creating the environment which is totally focused on the buyer.

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An Exploration of the Effect of Customer Relationship Management on Organizational Performance in the Banking Sector

International Journal of Customer Relationship Marketing and Management ◽

10.4018/ijcrmm.2022010101 ◽

2022 ◽

Vol 13 (1) ◽

pp. 0-0

Keyword(s):

Organizational Performance ◽

Customer Relationship Management ◽

Banking Sector ◽

Relationship Management ◽

Business Environment ◽

Partial Least Square ◽

Customer Relationships ◽

Least Square ◽

Customer Relationship ◽

Positive Effects

The main objective of this paper is to test the linkages among customer relationship management (CRM) practices and organizational performance in Palestinian banking sector. This research relies on an online survey which was designed for gathering the data from several employees who serve in banking sector. A total of 223 responses were considered valid for data analysis using SPSS and partial least square approach (PLS-SEM). Overall, the findings verified that customer orientation and CRM organization have significant positive effects on organizational performance. The outcomes also confirmed that CRM technology and knowledge management play important roles in affecting organizational performance. These findings reveal that the current business environment requires organizations to continuously monitor and manage customer relationships effectively for achieving their long range objectives and responding to emerging challenges.

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CUSTOMER LOYALTY PERSPECTIVE DEVELOPED FROM CUSTOMER COMMITMENT

Journal of Applied Management and Business (JAMB) ◽

10.37802/jamb.v1i1.61 ◽

2020 ◽

Vol 1 (1) ◽

pp. 20-26

Author(s):

Denis Fidita Karya

Keyword(s):

Relationship Marketing ◽

Customer Relationship Management ◽

Customer Loyalty ◽

Market Competition ◽

Relationship Management ◽

Customer Retention ◽

Marketing Strategies ◽

Customer Relationship ◽

Added Value ◽

Customer Commitment

This article discusses various aspects of relationship marketing ranging from the benefits of customer retention marketing strategies for the survival of the company to developments that can be done to transform customer retention into customer loyalty. This article also discusses customer recall management as an effort to create and maintain customer loyalty. This is because the effort to create and maintain customer loyalty is an important capital for the company to be able to survive in an increasingly competitive market competition. This is relevant to the view that the main purpose of customer retention efforts is to create and develop relationships with customers based on added value. This article can be used as a basic perspective for further research that examines customer relationship management, especially in the aspect of developing customer loyalty.

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Customer Relationship Management and Customer Retention

SSRN Electronic Journal ◽

10.2139/ssrn.3472492 ◽

2019 ◽

Author(s):

Ama Achiaa Kankam Boadu

Keyword(s):

Customer Relationship Management ◽

Relationship Management ◽

Customer Retention ◽

Customer Relationship

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The customer trust and customer commitment of e-customer relationship management: study at Jordan of mobile phone services

International Journal of Electronic Customer Relationship Management ◽

10.1504/ijecrm.2015.070697 ◽

2015 ◽

Vol 9 (1) ◽

pp. 33

Author(s):

Bilal Ali Yaseen Al nassar

Keyword(s):

Mobile Phone ◽

Customer Relationship Management ◽

Relationship Management ◽

Customer Relationship ◽

Management Study ◽

Customer Commitment ◽

Customer Trust

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UNCERTAINTY AND RISKINESS OF SMART CONTRACTUAL RELATIONSHIPS IN THE GLOBAL BUSINESS

Management ◽

10.30857/2415-3206.2018.1.6 ◽

2018 ◽

Vol 27 (1) ◽

pp. 66-78

Author(s):

Andrii V. GRONA

Keyword(s):

Business Processes ◽

Business Environment ◽

Business Activity ◽

Competitive Advantages ◽

Global Business ◽

Theoretical Substantiation ◽

World Markets ◽

Contractual Relationships ◽

Modern Economic ◽

Business Entities

Introduction and Objective of the Research. According to the modern economic theory, compliance in the global business and its support occupy a certain, moreover, indefinite place among the heaviest burdens for global business entities. The objective of the article is to cover the issue of smart contractual relationships (SCR) as a way to increase the business activity of global business entities by minimizing compliance risks (CR).Hypothesis of Research Studies. With current technology solutions available today, it is expected that SCR will allow minimizing the burden of global business entities by widespread CR. The most important role among such solutions is played by the latest distributed ledger technologies (DLT). In the medium term, these technologies will reach such a level of development, at which the transition of contractual relationships from ordinary to intelligent ones will not only lead to the decrease in business activity in world markets, but will also contribute to its substantial increase.Objective. To prove that CR substantially overburden global business processes; to substantiate the urgency of the issue of the transition of the global business to SCR, as a way to a possible lack of CR in the global business environment.Research Methods:- theoretical substantiation for proving the significance of CR as factors of the global business environment and the necessity of using DLT in SCR;- statistical analysis for conducting a normative monetary valuation of CR and representing the degree of awareness by global business entities (GBE) of the competitive advantages of SCR over ordinary ones.Results: the significance of compliance risks in the global business is defined; the importance of smart contractual relationships in the way of eliminating compliance risks essential for entrepreneurship is theoretically grounded. The existence of advantages of the activities of global business entities within one or more sectors according to the cluster principle has been proved:- the cluster economy is a set of solely smart contractual relationships with the use of blockchain technologies;- using these technologies, entrepreneurship in the cluster is accompanied by minimal compliance risks.Conclusions. The article outlines the economic essence of SCR using DLT. Accordingly, theoretically, DLT will promote the spread of SCR to the entire global business environment, since business processes that are not accompanied by CR are possible then. Further research will cover the essence of DLT, due to which all the main advantages, as well as all existing deficiencies of the technology and defects for their active introduction in SCR in the world.

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THE ANTECEDENT OF CUSTOMER SATISFACTION

10.31219/osf.io/af8pb ◽

2020 ◽

Author(s):

Andala Rama Putra Barusman ◽

Evelin Putri Rulian ◽

Susanto Susanto

Keyword(s):

Customer Satisfaction ◽

Structural Equation Model ◽

Customer Relationship Management ◽

Structural Equation ◽

Hospitality Industry ◽

Relationship Management ◽

Customer Retention ◽

Equation Model ◽

Customer Relationship

Taking a case study of tourism as hospitality industry in Lampung Province in Indonesia, we analyze the antecedent of customer satisfaction and its impact on customer retention. Using Structural Equation Model (SEM), we find that customer relationship management has a significant impact on service quality, customer satisfaction and customer retention.

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Supplier management by distributing orders among new and existing suppliers: the methodology and its application to a fast fashion company

Journal of Fashion Marketing and Management ◽

10.1108/jfmm-04-2021-0080 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Betul Acar Alagoz ◽

Murat Caner Testik ◽

Derya Dinler

Keyword(s):

Performance Evaluation ◽

Business Processes ◽

Low Cost ◽

Moving Average ◽

Holistic Approach ◽

Supplier Management ◽

Business Environment ◽

Content Type ◽

A Company ◽

Over Time

PurposeThis study aims to create a reliable, collaborative and sustainable business environment with suppliers of a company for providing high-quality and low-cost products on time. A supplier management system that sustains existing suppliers by sharing work based on systematic performance evaluation while developing the supplier base with potential suppliers is proposed.Design/methodology/approachBuilt on quantitative approaches, supplier management functions are integrated in the designed system. A quantitative strengths, weaknesses, opportunities and threats (SWOT) analysis is adapted for evaluating potential suppliers. A multi-objective integer linear programming (ILP) model is developed for the distribution of orders among selected potential and existing suppliers. A performance evaluation scheme based on an exponentially weighted moving average (EWMA) is proposed to evaluate and monitor suppliers' performance over time.FindingsProposed system develops a supplier base by methodically selecting and approving new suppliers, and a sustainable relationship with both new and existing suppliers is established based on performance over time. Decisions on retaining or removing suppliers from the base are objectively made by quantitative evaluations. Orders are fairly distributed among suppliers under the constraints imposed by the management. Dependence on a certain set of suppliers and its associated risks are reduced while agility in offering goods is enabled.Originality/valueBusiness processes for selecting new suppliers, distributing orders among all suppliers, evaluating and monitoring performance over time are quantitatively integrated to add value in operational decision-making. The proposed system is original in the holistic approach for managing and sustaining multiple suppliers of a company based on performance.

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The Practice of Jordanian Business to Attain Customer Knowledge Acquisition

Dynamic Models for Knowledge-Driven Organizations ◽

10.4018/978-1-4666-2485-6.ch007 ◽

2013 ◽

pp. 126-144

Author(s):

Amine Nehari Talet ◽

Samer Alhawari ◽

Ebrahim Mansour ◽

Haroun Alryalat

Keyword(s):

Knowledge Acquisition ◽

Business Environment ◽

Customer Relationship ◽

Customer Acquisition ◽

Global Business ◽

Customer Knowledge ◽

Knowledge Process ◽

Knowledge Processes ◽

Crm System ◽

Business Software

This paper examines how Jordanian companies use the knowledge process to support Customer Knowledge Acquisition (CKA) and how they foster it. The empirical study is based on a sample of the data collected from 156 respondents, drawn randomly from three software business solution companies working in the Customer Relationship Management (CRM) area, and four companies which are employing the CRM system. The results show that the three selected factors (need for Customer Knowledge, Verify Customer Source, and Capture Customer Knowledge) have a significant impact on customer acquisition. However, the source identification of knowledge is not significant in Jordanian business software environments. The empirical findings will help both researchers and practitioners in future Knowledge Management (KM) and Customer Acquisition research to gain a better understanding of the knowledge processes about customers on Customer Acquisition. This paper provides a contribution to the literature about Customer Knowledge Acquisition in one of the developing countries as a framework to keep organizations competitive within the global business environment.

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