Sage_CRM_White%20Paper_Business%20Lifecycle

Sage_CRM_White%20Paper_Business%20Lifecycle - A Sage CRM...

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Unformatted text preview: A Sage CRM White Paper BUSINESS LIFECYCLE: Survival of the fittest 2 Business lifecycle: Survival of the fittest 3 The business lifecycle 4 Start-up 7 Growth 10 Maturity 12 Decline 13 Exit 15 Conclusion CONTENTS A Sage CRM White Paper BUSINESS LIFECYCLE: Survival of the fittest 1 Organisations, like most living things, change, adapt and evolve over time. No matter what their size or industry type, businesses experience similar traits such as start-up, growth, maturity and eventual decline. At every point in the business lifecycle, the requirements of survival change. To adapt, we use information and experience to help us make decisions. But what works for a a start-up is often inappropriate for a mature business. However, the business lifecycle can vary depending on each company and so having the tools in place to cope with these changes is vital. This may sound obvious but in our experience of working with thousands of Irish small to medium sized businesses (SMBs) and large organisations, many of them fail to adapt to changing requirements. And the reason? Many are so focused on the day-to-day operational challenges that they do not look at the market and customer trends and patterns, and how to change their businesses to better meet customer demands. SMBs must look at the business lifecycle, plot their relative position and then evaluate whether they have the tools to track and analyse customer and market dynamics to make more informed business decisions. Consequently, customer relationship management (CRM), which helps manage, track, monitor and analyse customer trends for improved sales and marketing and business management, is now an essential piece of the jigsaw for SMBs to not only survive, but also succeed. Indeed, like Charles Darwins theory of natural selection, business is about the survival of the fittest, and in todays highly competitive, global economy, we believe that CRM enables organisations to become more competitive. We will outline some of the common challenges faced by organisations at the different points of the lifecycle and highlight ways that CRM can help business owners overcome them and help grow their business. BUSINESS LIFECYCLE: SURVIVAL OF THE FITTEST BUSINESS LIFECYCLE: Survival of the fittest A Sage CRM White Paper 2 THE BUSINESS LIFECYCLE Moving through the business lifecycle is not an easy process. Indeed, the reason why many companies fail to evolve is because they are unable to adapt to the new demands that the business experiences. Only by understanding the nuances of customers and the market will organisations be successful. We see the lifecycle in four distinct parts start-up, growth, maturity and decline. The business and customer requirements at each point change and so it is paramount that companies use the appropriate resources, skills and tools to maximise the available opportunities. As a business moves from, for example, start-up to growth, its demands shift and so principles and approaches required also change. By using CRM it can keep abreast of these approaches required also change....
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Sage_CRM_White%20Paper_Business%20Lifecycle - A Sage CRM...

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