The Royal Mint London 2012 Olympic Souvenir Coins Essay

The Royal Mint London 2012 Olympic Souvenir Coins - Essay Example The researcher of this essay discusses the ROyal Mint company and their CRM strategy. It is stated that in Royal Mint, ‘a leading export mint, exporting to about 60 countries worldwide’, the introduction of such system is considered as necessary since the firm’s existing practices for managing its customers can be characterized as rather problematic. The introduction of a Customer Relationship Management (CRM) system in Royal Mint, could help the firm’s managers to understand the quality of the organization’s customer services. In general, this system could improve the relations between the firm and its customers but such target could be achieve under the following term: the CRM system chosen should have specific elements, in terms of its structure but also of its potentials as part of the organization’s key strategic tools. The success of CRM system in Royal Mint would be depended on a series of factors, explained in the essay. The specific s ystem could significantly help towards the improvement of performance of Royal Mint but only under the terms that ethical and legal issues related to the use of the data stored in the system are addressed. The managers of the organization should decide on the elements of the system based on the existing literature, but also on the plans used by other firms operating in the same industry. The CRM system chosen by the researcher should be able to meet the targets set by its initiators and to pay back the investment made within a relatively short period of time.