Discuss Customer Relationship Management (CRM) and Its Three Interconnected Components

question 31

Essay

Discuss customer relationship management (CRM) and its three interconnected components with an example.

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Definitions:

Gross Profit

The financial gain obtained after subtracting the cost of goods sold from the total revenue generated from sales.

Voting Stock

Shares that give the shareholder the right to vote on company matters, such as electing directors or approving corporate policies.

Consolidations Under IFRS

The process of merging the financial results of subsidiary companies with those of the parent company according to the International Financial Reporting Standards.

Noncontrolling Interest

refers to the portion of equity in a subsidiary not held by the parent company, often reflected as a separate component of equity in the consolidated financial statements.