MT400 unit 8 Assignment

BUSINESS PROCESSES AND STRATEGY

Maritz Travel Company is one of the most experienced world event planners. They have delivered flawless corporate event management for leading companies around the world for more than fifty years now. They help companies to deliver business meetings, as well as offering incentive travel programs. The company is based in Fenton, Missouri.

As Michael Treacy and Fred Wiersema make the assumptions that an organization can only excel in what it is good at, Maritz Travel can prosper in customer intimacy. This is because all the services the company offers are directly related to the consumers. Therefore, this organization should continuously work in meeting the requirements of the customers through delivering tailor-made work as well as one on one solution through focusing on a long term relationship with the customers.

To succeed in this process, the first thing is to redefine value for customers in all of their respective markets. Secondly, it is to build a powerful cohesive business system which delivers more of the value than the other competitors does (Olson, et al., 2018). Thirdly, by doing this, the expectations of the customers are raised beyond the reach of competitors. It changes what the customers initially valued and the method of delivery through boosting the value of the customer’s expectations. Here, the company sells value to the customers, which revolves around the convenience of purchase, after-sale services as well as dependability.

Customer intimacy has never been important as it is today; this is because the growth rate is growing tougher. This process starts with building a good connection with customers since their perception is what matters the most (Vössing, et al., 2018). The company then understands the problems and needs among all the team members. Here, the company is aligned with the true needs of the individual customer. This is then brought to the ground through the employees who have well understood the needs and desires of the clients by increasing their loyalty, lowering churn, avoiding internal strife and encouraging more effective team decision making.

The steps in this process involve;

• Customer excellent support- here, every employee and the manager as well provide an excellent level of customer support and the overall customer experience which builds customer empathy at a higher level.

• Visiting the customers IRL- in elevating the level of empathy of the customers, team members are selected to check how the customers live their lives and how the services offered fit into their lives.

• Ongoing customer development- here there is formal customer interviews by the management which allows the management to quantify the customer’s conversation into insights which are accurate and reliable.

• Customer meet ups- customer meet-ups help the team understand and know their customers well. Here, the company builds a deep and better connection with the customers.

• Customer advisory boards- this is a go panel of the most valued customers in the company who act as the board of directors but in the view of customer’s side.

With this process, the companies are willing to spend heavily today so that they build customer loyalty in the long run. What matters is the lifetime value the customer will bring to the company but not the value of a single transaction.

The company should take BPM project on this project because may companies that hold meetings in far-flung countries flying their employees around the globe is just but a matter of choice but not a business necessity. Therefore if a company plans to take their employees to events, they want a better return on their investment (Dumas, et al., 2018). This is through the creation of new levels of service. Taking BMP, the company will be able to know the exact needs of their clients.

References

Dumas, M., La Rosa, M., Mendling, J., & Reijers, H. A. (2018). BPM as an Enterprise Capability. In Fundamentals of Business Process Management (pp. 475-500). Springer, Berlin, Heidelberg.

Olson, E. M., Slater, S. F., Hult, G. T. M., & Olson, K. M. (2018). The application of human resource management policies within the marketing organization: The impact on business and marketing strategy implementation. Industrial Marketing Management, 69, 62-73.

Vössing, M., Siegel, J., Feldmann, N., Wuest, T., & Benz, C. (2018, September). Employee-Centric Service Innovation: A Viable Proxy for Customer-Intimacy for Product-Focused Enterprises. In International Conference on Exploring Service Science (pp. 88-100). Springer, Cham.