ادغام منابع شرکت و قابلیت پیاده سازی سازمان هایCRM: مطالعه موردی از Fine-Equity Bankدر کشور کره

This chronological in-depth case study describes that, although the integration of functional resources and capabilities including information resource, analytical capability, and operational capability might influence retention process, those are not sufficient to bring the desired performances of acquiring and expanding customer relationships. Find-Equity Bank (a pseudonym) in this case validates that employee satisfaction must be a prerequisite of successful relationship acquisition and expansion processes, both which require employees to have more customer orientation relatively. Thus, this study emphasizes the significance of tripartite resource and capability consisting of technology, process, and people for the successful implementation of an enterprise-wide CRM strategy.

The deregulation of the financial industry, the expansion of the business area of global financial institutes, and the diversification of consumers' needs for financial services brought about intense competition in the retail bank industry [31]. Such keen competition made retail banks transform their resources and capabilities from being product- or service-centered into customer-centered. As a customer-centered IT-driven strategy, Customer Relationship Management (CRM) has been increasingly adopted by corporations [4], [30], [31] and [50], including retail banks, and the firms have started to invest heavily in CRM [31], [36] and [37]. Like Wells Fargo and Royal Bank of Canada, which are well known for their successful CRM strategies, Fine-Equity Bank in Korea is one of the big players that have implemented their enterprise-wide CRM successfully. In early 2003, Fine-Equity bank was concerned that decreasing the interest profit rate on deposit and loan and the infringing on the banking business by other industries were threatening its position. Moreover, dichotomized customer management processes caused by the merger and acquisition with Seoul Bank in 2002 were yielding customer dissatisfaction, consequently resulting in customer defections. Enterprise-wide CRM [36], enabling the integration of its resources and capabilities along with its customer needs, was deemed to be a mission-critical business strategy to ensure that Fine-Equity Bank could distinguish itself from its competitors, win over new customers, and maintain the loyalty of its existing customers. By 2008, Fine-Equity Bank was the first in profitability per customer in Korea and awarded by Euromoney as the best private bank in Korea for four consecutive years. The change was the result of an ambitious effort to redesign its entire customer management process and link people with the new practice, such that customer satisfaction was significantly increased. Fine-Equity Bank's efforts have been made up of two different phases: the phase of integration of functional resources and capabilities needed to innovate its business processes (from 2003 to 2006) and the phase of integration of human resource and capability to complete its mission of transforming itself into a CRM strategy driven organization (from 2007 to 2008). While the former consisting of integrations of information resource, analytical capability, and operational capability provided them a concrete base to run an enterprise-wide CRM strategy, the latter brought them a CRM acculturation that could hardly be accomplished only with those functional resources and capabilities, consequently accepting CRM not as a specific technology or technique but as a business paradigm in which people should involve. Fig. 1 shows the chronograph of Fine-Equity Bank's CRM implementation. However, such two phased-implementation process was not intended from the outset. Similar with other organizations, Fine-Equity Bank also has been devoted to integrating apparent resources and capabilities to set up CRM foundations quickly. But the outcome at that time could not meet their original expectations; the result did not come from a fully-realized CRM strategy actually. After a corporate-wide diagnosis, they found that they have been missing another critical factor: the people. Its impacts have been reflected obviously in the performance indexes, having them put the human resource into the second subject of integration. This case illustrates which resources and capabilities companies should consider integrating to run CRM as a corporate business strategy. We show the limitations of CRM implementation driven by the integration of physical information systems (IS) through an empirical case, implying that the consideration of human resource and capability should be involved in the process of CRM implementation. To do this, we first review several theoretical backgrounds of organizational resources and capabilities for implementing CRM strategy, then illustrate step by step the circumstances they met and their efforts to overcome. In the last section, we discuss the managerial implications and suggest a conceptual model of successful CRM implementation.

Fine-Equity Bank is not the first organization to implement an enterprise-wide CRM to improve its competitive stance, but the company is quite remarkable in the extent to which the company transformed and integrated its necessary resources and capabilities successfully. The most important implications we can draw from this study are that CRM would hardly be implemented successfully when it is considered as a technology, and even its successful implementation does not necessarily mean the success of the strategy. The study of Ravichandran and Lertwongsatien [33] also supports our assertion. They emphasized that an organization's ability to use IT to support its core competencies is dependent on IS functional capabilities, which, in turn, are dependent on the nature of human, technology, and relationship resources of the IS department. Since none of CRM practice can be generically applied into every organization [50], we believe that a company should take the implementation steps including identifying their own needs and issues before introducing CRM, selecting relevant resources and capabilities, and integrating them company-widely to address the needs and issues. Moreover, by combining appropriate CRM-compatible organizational alignments motivating people to engage in CRM with the critical resources and capabilities, an organization will likely be more successful in enhancing its organizational performance through the CRM strategy. Of course, if Fine-Equity had grasped earlier the resources and capabilities needed to be integrated for successful CRM implementation, the present performance would have been accomplished earlier. Even though admitting that the company has spent lots of money and time to secure the present-level competency, there exists a clear lesson to be learned. It is the fact that they were not satisfied with the outcome from the first implementation phase, but they have tried to find the hidden opportunities continuously to be better. Since CRM is a continuous learning process rather than an information technology or analytical method [28], it should evolve permanently to respond to quickly and continuously changing customer needs. Therefore, the positive momentum, which is indomitable with failure or self-conceited with small returns, is quite a kernel of CRM. And Fine-Equity did understand it well.