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The Role and Necessity of Change Management in Organizations։ Investing CRM as an Effective System to Manage Customer Relations

Journal: Business Ethics and Leadership (BEL) (Vol.6, No. 1)

Publication Date:

Authors : ;

Page : 6-13

Keywords : Change Management; Models; Human and Digital Channels; Customer Relationship Management; Banks; COVID-19;

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This paper summarizes the arguments and counterarguments within the scientific discussion on the issue of change management characteristics in organizations. The main purpose of the research is to find out and discuss the role of change management in organizations, the main change management models, the benefits of investing CRM in a banking system that will change the way of work. A systematization of literary sources on the issue of change management presents some models steps of change management in organization. It indicates the importance of change management in today's fast-moving world. Investigation of the topic proves that change management may help organizations become more effective customer-oriented. Analysis in the paper is carried out in the following logical sequence: literature review shows some examples of international experience of the discussed topic; also, the experience of CRM investing is discussed in one of the Armenian banks. Methodological tools of the research methods were analysis and synthesis, surveys. The paper presents the results of an empirical study, which shows that there are some transactions for which people prefer going to the bank. Certain services tend to go online, for example, to request account information or transfer money between accounts. The trend is that customers are moving more and more to online platforms. It was due to the introduction of the latest IT technologies in the banking system; also, during Covid-19, people preferred to do transactions online. The results show that it is necessary to use CRM tools to manage customer relationships throughout a customer life cycle, including marketing, sales, digital marketing, and customer service interactions. We suggest using CRM tools in banks to identify customers' needs as much as possible to build a stable and long-lasting bank-customer relationship. The results of the research can be helpful for banks to improve their experience, invest in CRM systems and do better change management.

Last modified: 2022-04-24 02:44:13