The Impact of Customer Relationship Management Systems on Dynamic Capabilities at Firms: An Application to the Banking Industry

The Impact of Customer Relationship Management Systems on Dynamic Capabilities at Firms: An Application to the Banking Industry

Cristina Gallego-Gomez, Carmen De-Pablos-Heredero, José Luis Montes-Botella
Copyright: © 2021 |Pages: 20
DOI: 10.4018/JGIM.2021010106
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Abstract

The banking industry has been forced to restructure its processes to get adapted to a more technological environment as a consequence of the changes experienced in the market. Academic literature has paid special attention to the most critical relationship at firms, customers. Customer relationship management (CRM) offers good opportunities to increase efficiencies in this relationship. For this reason, this research analyses to what extent the implementation of CRM systems in the banking industry has offered good results in terms of dynamic capabilities. For that, some dynamic capabilities have been identified after CRMs implementation process has taken place. A theoretical model has been built and empirically validated by means of a representative sample of banking firms applying structural equation model analysis (SEM). Results show how firms, by properly implementing CRM systems, can reach dynamic capabilities. As main practical implications for firms, it is interesting to orient CRMs implementation to reach dynamic capabilities.
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Theoretical Framework

Customer Relationship Management (CRM) is a firm’s orientation that presents, as main objective to enable customer service in terms of performing better long-term relationships oriented to increase the managerial quality and the value of the product or service. Kim, Sun, & Hwang (2003) summarize the potential benefits derived from CRM systems’ use: they increase the retention and loyalty of customers, offer more returns and create value for the customer, allow the mass customization of products and services, decrease the time for processing and increase the quality of products and services.

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