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ENTREPRENEURSHIP DEVELOPMENT AND MANAGEMENT

LEARNING OBJECTIVES:

Concept of customer relation management.

Study of total quality management.

To know about intellectual property right.

CHAPTER-7(MISCELLANEOUS TOPICS)

7.1. INTRODUCTION

Every organization or company has a business to run, and make some pretty good profits. In order

to do that successfully and in the best possible way, every company requires some great managers.

Managers are those skilled and field professionals who supervise the whole structure of movement

in their department and take care of each and everything in the best possible way in order to

provide best results to the company and find the best possible solutions needed in order to solve the

problem and get the job done. This makes the management sector as most desirable job

opportunity in our country as well in foreign countries with a center of all the gem companies.

According to facts, Management sector including all its departmental sections outsources second

most people after the IT professional. Also in an organization, average salary of a management

professional is much more higher than any other professionals and are always provided with a

team leader or supervisor positions in the organization.

7.2 CUSTOMER RELATION MANAGEMENT

Customer relationship management (CRM) is the combination of practices, strategies and

technologies that companies use to manage and analyze customer interactions and data throughout

the customer lifecycle, with the goal of improving customer service relationships and assisting in

customer retention and driving sales growth. CRM systems compile customer data across different

channels, or points of contact between the customer and the company, which could include the

company's website, telephone, live chat, direct mail, marketing materials and social media. CRM

systems can also give customer-facing staff detailed information on customers' personal

information, purchase history, buying preferences and concerns.

7.2.1.Components of CRM

At the most basic level, CRM software consolidates customer information and documents into a

single CRM database so business users can more easily access and manage it.

Over time, many additional functions have been added to CRM systems to make them more useful.

Some of these functions include recording various customer interactions over email, phone, social

media or other channels; depending on system capabilities, automating various workflow

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automation processes, such as tasks, calendars and alerts; and giving managers the ability to track

performance and productivity based on information logged within the system.

Marketing automation: CRM tools with marketing automation capabilities can automate

repetitive tasks to enhance marketing efforts at different points in the lifecycle. For example, as

sales prospects come into the system, it might automatically send the prospects marketing

materials, typically via email or social media, with the goal of turning a sales lead into a full-

fledged customer.

Sales force automation: Sales force automation tools track customer interactions and

automate certain business functions of the sales cycle that are necessary to follow leads and

attract and obtain new customers.

Contact center automation: Designed to reduce tedious aspects of a contact center agent's

job, contact center automation might include prerecorded audio that assists in customer

problem-solving and information dissemination. Various software tools that integrate with the

agent's desktop tools can handle customer requests in order to cut down on the time of calls

and to simplify customer service processes.

Geolocation technology, or location-based services: Some CRM systems include technology

that can create geographic marketing campaigns based on customers' physical locations,

sometimes integrating with popular location-based GPS apps. Geolocation technology can

also be used as a networking or contact management tool in order to find sales prospects based

on a location.

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TECHTARGET

CRM tools specifically for social media platforms help companies foster customer relationships

and monitor customer sentiments around their brands.

Workflow automation: CRM systems help businesses optimize processes by streamlining

mundane workloads, enabling employees to focus on creative and more high-level tasks.

Lead management: Sales leads can be tracked through CRM, enabling sales teams to input,

track and analyze data for leads in one place.

Human resource management (HRM): CRM systems help track employee information, such

as contact information, performance reviews and benefits within a company. This enables the

human resource department to more effectively manage the internal workforce.

Analytics: Analytics in CRM help create better customer satisfaction rates by analyzing user

data and helping create targeted marketing campaigns.

AI: Artificial intelligence (AI) technologies, such as Salesforce Einstein, have been built into

CRM platforms to automate repetitive tasks, identify customer buying patterns to predict future

customer behaviors and more.

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7.2.2.Types of CRM technology

The four main vendors of CRM systems are Salesforce, Microsoft, SAP and Oracle. Other

providers are popular among small to midmarket businesses, but these four tend to be the choice

for large corporations. The types of CRM technology offered are as follows:

On-premises CRM: This system puts the onus of administration, control, security and

maintenance of the database and information on the company using the CRM software. With

this approach, the company purchases licenses upfront instead of buying yearly subscriptions

from a cloud CRM provider. The software resides on the company's own servers and the user

assumes the cost of any upgrades. It also usually requires a prolonged installation process to

fully integrate a company's data. Companies with complex CRM needs might benefit from an

on-premises deployment.

Cloud-based CRM: With cloud-based CRM, also known as SaaS (software as a service) or

on-demand CRM, data is stored on an external, remote network that employees can access

anytime, anywhere there is an internet connection, sometimes with a third-party service

provider overseeing installation and maintenance. The cloud's quick, relatively easy

deployment capabilities appeal to companies with limited technological expertise or resources.

Companies might consider cloud CRM as a more cost-effective option. Vendors such as

Salesforce charge by the user on a subscription basis and offer the option of monthly or yearly

payments.

Data security is a primary concern for companies using cloud-based systems, as the company

doesn't physically control the storage and maintenance of its data. If the cloud provider goes

out of business or is acquired by another company, an enterprise's data can be compromised or

lost. Compatibility issues can also arise when data is initially migrated from a company's

internal system to the cloud.

Finally, cost may be a concern, since paying subscription fees for software can be more costly

over time than on-premises models.

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TECHTARGET

CRM systems have moved far beyond traditional customer profiling functions.

Open source CRM: An open source CRM system make source code available to the public,

enabling companies to make alterations at no cost to the company employing the system. Open

source CRM systems also enable the addition and customization of data links on social media

channels, assisting companies looking to improve social CRM practices.

Open Source CRM platforms such as OroCRM, SuiteCRM and SugarCRM offer alternatives to

the proprietary platforms from Salesforce, Microsoft and other vendors.

Adoption of any of these CRM deployment methods depends on a company's business needs,

resources and goals, as each has different costs associated with it.

7.3. TOTAL QUALITY MANAGEMENT

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Total Quality Management is defined as a customer-oriented process and aims for continuous

improvement of business operations. It ensures that all allied works (particularly work of

employees) are toward the common goals of improving product quality or service quality, as well

as enhancing the production process or process of rendering of services. However, the emphasis is

put on fact-based decision making, with the use of performance metrics to monitor progress.

7.3.1The key principles of Total Quality Management

Commitment from the management:

Plan (drive, direct)

Do (deploy, support, and participate)

Check (review)

Act (recognize, communicate, revise)

7.3.2 STATISTICAL PROCESS CONTROL

SPC is an industry-standard methodology for measuring and controlling quality during the

manufacturing process. Quality data in the form of Product or Process measurements are obtained

in real-time during manufacturing. This data is then plotted on a graph with pre-determined

control limits. Control limits are determined by the capability of the process, whereas specification

limits are determined by the client's needs.

Control Limits on an XBar Range Chart

Data that falls within the control limits indicates that everything is operating as expected. Any

variation within the control limits is likely due to a common cause—the natural variation that is

expected as part of the process. If data falls outside of the control limits, this indicates that an

assignable cause is likely the source of the product variation, and something within the process

should be changed to fix the issue before defects occur.

With real-time SPC you can:

Dramatically reduce variability and scrap

Scientifically improve productivity

Reduce costs

Uncover hidden process personalities

Instantly react to process changes

Make real-time decisions on the shop floor

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7.3.3. TOTAL EMPLOYEE INVOLVEMENT

Employee involvement is creating an environment in which people have an impact on decisions

and actions that affect their jobs.

Employee involvement is not the goal nor is it a tool, as practiced in many organizations. Rather, it

is a management and leadership philosophy about how people are most enabled to contribute to

continuous improvement and the ongoing success of their work organization.

A solid recommendation for those organizations that wish to create an empowering, continuously

improving workplace is to involve people as much as possible in all aspects of work decisions and

planning. This involvement increases ownership and commitment, retains your best employees, and

fosters an environment in which people choose to be motivated and contributing.

Methods for Involving Employees

How to involve employees in decision making and continuous improvement activities is the

strategic aspect of involvement and can include such methods as suggestion systems,

manufacturing cells, work teams, continuous improvement meetings, Kaizen (continuous

improvement) events, corrective action processes, and periodic discussions with the supervisor.

Intrinsic to most employee involvement processes is training in team effectiveness, communication,

and problem-solving; the development of reward and recognition systems; and frequently, the

sharing of gains made through employee involvement efforts.

Employee Involvement Model

For people and organizations who desire a model to apply, the best was developed from work by

Tannenbaum and Schmidt (1958) and Sadler (1970). They provide a continuum of leadership and

involvement that includes an increasing role for employees and a decreasing role for supervisors

in the decision process. The continuum includes this progression.

Tell: the supervisor makes the decision and announces it to the staff. The supervisor

provides complete direction.

Sell: the supervisor makes the decision and then attempts to gain commitment from staff by

"selling" the positive aspects of the decision.

Consult: the supervisor invites input into a decision while retaining authority to make the

final decision herself.

Join: the supervisor invites employees to decide with the supervisor. The supervisor

considers her voice equal in the decision process.

Delegate: the supervisor turns the decision over to another party.

Satisfaction Research

In a study, "The Impact of Perceptions of Leadership Style, Use of Power, and Conflict

Management Style on Organizational Outcomes" by Virginia P. Richmond, John P. Wagner, and

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James McCroskey, the researchers developed an instrument to measure employee

satisfaction using this continuum (tell, sell, consult, join).

Their research discovered that "the supervisor who wishes to generate a positive impact on

satisfaction with supervision, satisfaction with work, and solidarity and to reduce communication

anxiety should strive to get her/his subordinates to perceive her/him as using a more employee-

centered (consult-join) leadership style." At the same time, however, the supervisor cannot be seen

by employees as abdicating responsibility for decision making.

The authors further concluded, "we believe there is a relatively straightforward explanation of this

finding. Leadership styles which approach the employee-centered (join) end of the continuum

greatly increase the degree to which subordinates are asked to participate in making decisions

and/or make the decision themselves.

"When this approach becomes excessive, the supervisor may be seen as abdicating her/his

responsibilities—the laissez-faire leader—or even deserting the subordinate. The subordinate may

feel that they are given more responsibility than their positions should require and, thus, are

overworked or underpaid for the work expected. Such reactions could be expected to be reflected

in negative outcomes of the type observed in this study.

"We conclude, therefore, that while the supervisor should attempt to be perceived as employing an

employee-centered leadership style (consult-join), he/she must maintain a supervisory role and

avoid being perceived as abdicating responsibility."

7.3.4 JUST IN TIME

The Just-in-Time or JIT is an inventory management system wherein the material, or the products

are produced and acquired just a few hours before they are put to use. The Just-in-time system is

adopted by the firms, to reduce the unnecessary burden of inventory management, in case the

demand is less than the inventory raised.

The objective of Just-in-time is to increase the inventory turnover and reduce the holding cost and

any other costs associated with it. This concept is again popularized by the Japanese firms, who

place an order for the material, the same day the product is to be produced.

Thus, the JIT system eliminates the necessity to carry large inventories and incur huge carrying

cost and other related costs to the manufacturer. To avail the benefits of this method, there should

be a proper synchronization between the delivery of material and the manufacturing cycle. The JIT

requires a proper understanding between the manufacturer and the supplier in terms of the

delivery and the quality of the material. In the case of any misunderstanding, the whole production

process may come to a halt.

The success of just-in-time depends on how you manage your suppliers. A lot of pressure is exerted

on them, as they have to be ready with an adequate quality material to supply it to the

manufacturer, as the need arises.

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7.4 INTELLECTUAL PROPERTY RIGHT

A right that is had by a person or by a company to have exclusive rights to use its own plans, ideas,

or other intangible assets without the worry of competition, at least for a specific period of time.

These rights can include copyrights, patents, trademarks, and trade secrets. These rights may be

enforced by a court via a lawsuit. The reasoning for intellectual property is to encourage

innovation without the fear that a competitor will steal the idea and / or take the credit for it.

7.4.1 INFRINGEMENT RELATED TO PATENTS,COPYRIGHT AND TRADEMARK

What is a copyright?

The U.S. Copyright Office of the Library of Congress defines a copyright as "a form of protection

grounded in the U.S. Constitution and granted by law for original works of authorship fixed in a

tangible medium of expression." What exactly does that mean?

A copyright extends to any type of creative product that you've put down on paper, in design, or

elsewhere. In fact, a copyright exists from the moment your work is created, whether you register

with the U.S. Copyright Office or not. However, for it to hold up in court, registration is a good

idea.

"You must register your copyright if you want to sue for copyright infringement," said Ruth Carter,

owner and attorney at Carter Law Firm. "I also recommend registering your copyright if you plan

to license your work."

Although your work is technically copyrighted at the time of creation, registering it with the federal

government is what grants federal protection to your intellectual property. Otherwise, you cannot

bring a lawsuit against another party for copyright infringement.

How to register your copyright

Once obtained, a copyright protects works, including literature, drama, music, poetry, novels,

movies, songs, software and architecture. If you are concerned that any of these will be used for

profit without your consent, you should consider registering them with the U.S. Copyright Office.

"The process to register a copyright requires submitting an application to the U.S. Copyright

Office and paying a fee, which you can do online," Carter said.

Beyond the ability to sue for copyright infringement, registering your copyright within five years of

the work's publication grants it prima facie status in court. Literally meaning "based on the first

impression," this Latin phrase means your copyright will be accepted as fact until proven

otherwise.

Moreover, copyright protection extends to many other nations besides the U.S.; the federal

government maintains copyright agreements with most other countries worldwide, which

essentially state that the governments will respect each other's citizens' intellectual property.

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Copyright protections expire after the author's lifetime plus 70, 95 or 120 years, depending on the

nature of the work.

What is a trademark?

A trademark, as defined by the U.S. Patent and Trademark Office (USPTO), is "a word, phrase,

symbol and/or design that identifies and distinguishes the source of the goods of one party from

those of others." It is also sometimes known as a "service mark" when referring to a service-based

business.

"Trademarks protect those things that companies use to help customers connect back to the goods

or services they purchased. Things that are trademarked are indications of source," said Erin

Ogden, attorney at Ogden, Glazer and Schaefer. "That can be commonly known trademarks like

words (Nike), logos (the swoosh), and slogans (Just Do It). It can also be colors (pink insulation

for Owens Corning), sounds (NBC chimes), shapes (the Coca-Cola bottle), [or] anything that helps

a customer pick out and remember a good or service and get it again."

According to Ogden, achieving federal trademark protection allows the holder to use the

trademark nationwide with the ability to sue in federal court, potentially obtaining triple damages

for infringement and nationwide injunctions to halt others' use of the trademark.

"By having copyrights and trademarks, you get to control your intellectual property related to

those protections," she said. "That means you can give or withhold permission of others to use your

copywritten or trademarked property. That also means that you can give only certain permissions

in exchange for money, otherwise known as a license."

How to obtain a trademark

Much like a copyright, registration of a trademark is voluntary. You can adopt what is known as

"common law" rights by affixing a "TM" superscript after the brand or product you consider

trademarked. If it is registered with the USPTO, then affixing a superscript "R" within a circle to

the end of the brand or product denotes legal ownership nationwide.

To register your trademark, there is an application process and filing fee beginning at $225. Once

registered, trademarks never expire.

What is a patent?

The USPTO defines a patent as "a limited duration property right relating to an invention … in

exchange for public disclosure of that invention." Patents include machines, manufactured goods,

industrial processes and chemical compositions.

As long as a patent is in effect, it grants the holder the right to "exclude others from making, using,

offering for sale, or selling" their invention, or even importing it into the U.S. It is up to the patent

holder to enforce the patent by identifying any infringements and taking the responsible party to

court. The U.S. federal government does not enforce patents for the patent holders.

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How to obtain a patent

There are multiple types of patents you could apply for, so determining which best fits your

invention is the first step. There is an application processon the USPTO's website that must be

followed as well as a filing fee beginning at $130 but reaching as high as $3,000 for certain

inventions.

Design patents expire 15 years after the date they are issued, while utility and plant patents expire

20 years from the date on which they were filed.

QUESTIONS:

SHORT ANSWER TYPES QUESTIONS:

1) What is patent?

2) TQM stands for ……………..

3) What do you mean by just in time?

4) What is function of CRM?

5) Write importance of IPR.

LONG ANSWER TYPES QUESTIONS:

1) Explain in detail customer relation management..

2) Explain in detail patent copyright and trade mark.

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