When Organizations Become Aware of Resource Dependence and Begin to Develop

question 70

Essay

When organizations become aware of resource dependence and begin to develop strategies to reduce their dependence on the environment, what alternatives would be considered? Explain at least two different approaches.

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Definitions:

CRM Application

Customer Relationship Management application, software that helps businesses manage interactions and relationships with customers, improve engagement, and streamline processes.

Near Field Communications

A set of communication protocols that enable two electronic devices, one of which is often a portable device such as a smartphone, to establish communication by bringing them within a few centimeters of each other.

Showrooming

The practice of examining merchandise in a traditional brick-and-mortar retail store without purchasing it, then shopping online to buy the same item at a lower price.

Customer Churn

The rate at which customers stop doing business with an entity, often used to gauge a company's ability to retain its customers over time.