CRM's Influence on Organisational Performance: Lloyd's Bank

This research project investigates the importance of customer relationship management (CRM) in improving the organizational performance of Lloyd's Bank. The project begins with an introduction outlining the research aims, objectives, and a literature review. The methodology section details the research approach, design, philosophy, data collection methods (including the use of questionnaires and thematic analysis), and sampling techniques. The project aims to understand the significance of CRM for Lloyd's Bank, analyze factors affecting CRM, study the link between CRM and organizational performance, and recommend improvements. The literature review explores the role of CRM in achieving business goals, the factors that create issues in customer relationships, and the benefits of effective CRM on organizational performance. The research utilizes both primary and secondary data sources, employing questionnaires with a sample of 50 employees. The findings are analyzed using thematic analysis to draw conclusions and provide recommendations to Lloyd's Bank. The project is structured to provide a comprehensive overview, starting with an introduction and literature review, followed by methodology, data analysis, and recommendations, culminating in a conclusion and suggestions for further study.

RESEARCH PROJECT

Table of Contents
Chapter 1: Introduction....................................................................................................................1
1.1 Research project description.................................................................................................1
1.2 Research Aims and Objectives .............................................................................................1
1.3 Literature Review..................................................................................................................2
1.4 Research Methodology .........................................................................................................3
1.5 Research Structure................................................................................................................4
Chapter 2: Literature Review...........................................................................................................4
2.1 Introduction...........................................................................................................................4
2.2 Literature Review..................................................................................................................5
CHAPTER 3....................................................................................................................................6
3.1 Methodology, methods and techniques.................................................................................6
3.2 Sampling...............................................................................................................................7
3.3 Data collection......................................................................................................................8
3.4 Ethical consideration ............................................................................................................8
CHAPTER 4..................................................................................................................................10
4.1 Data Collection....................................................................................................................10
4.2 Data analysis and Discussion..............................................................................................17
CHAPTER 5..................................................................................................................................26
5.1 Conclusion ..........................................................................................................................26
5.2 Recommendation ................................................................................................................26
5.3 Areas for further study........................................................................................................27
REFERENCES..............................................................................................................................29

Chapter 1: Introduction
Research Title :
Importance of customer relationship management in improving organisational
performance of Lloyd Bank.
1.1 Research project description
In order to ensure effective functioning of an organisation, antithetic areas are required to
be paid attention. These sectors are human resource, employees, finances, accounts, etc. The
present research work is based on the major problem that is being faced by the Lloyd's Bank. The
findings that will be generated from this project can assist the selected organisation in solving the
issue. Based on the challenged experienced by the Lloyd's bank, the aim of present research is
settled to explore the significance of customer relationship management for the selected
company so that organisational performance can be improved.
It has been observed that the selected organisation is effective in the other sectors such as
finances, accounting, human resources, internal business environment, compliance with laws,
etc. however it should be noted that it is found ineffective in managing impelling relations with
its customers. This failure can harm the overall business value of Lloyd's bank and thus, suitable
tactics are entailed to avoid this mishap. The present undertaking will assist in analysing the
significance of customer relationship management for Lloyd's bank so that this requirement can
be studied in-depth. In addition to this, factors that creates issues in managing effective
relationship with customers will be analysed in the present report. The present research will also
shed lights on the link between the management of customer relations and performance of
organisation.
1.2 Research Aims and Objectives
Research Aim:
To explore significance of customer relationship management in order to improve
organisational performance: A study on Lloyd's Bank.
Research Objectives: In order to accomplish the mentioned research aim successfully, following
objectives are settled:
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 To understand the significance of customer relationship management for Lloyd's bank.
 To analyse the factors that affect customer relationship management of Lloyd's bank
 To study link between customer relationship management and organisational
performance.
 To recommend ways in which Lloyd's Bank can improve management of customer
relationship.
1.3 Literature Review
According to the views of Real, Roldán and Leal (2014), customer relationship
management plays the most important role in achieving the business goals and objectives.
Consumers are regarded as the backbone of any business and thus entailed to be treated
effectively. It has been further added that this factor brings varied range of benefits to an
organisation that plays a major role in increasing its business value. There are antithetic other
factors which are concerned with this relationship of customers and organisation. It should be
further recognised that banking is the sector which is highly dependent on the consumers. All the
business activities in banks are somewhere associated with the consumers. Henceforth, Lloyd's is
entailed to pay attention on the development of effective tactics that can improve relations with
the customers.
Bryman and Bell (2015) stated that there are different factors that accounts in the
generation of issues in effective functioning of an organisation. Consumers being the most
sensitive part of the business, the major obstacles are observed in this sector. These challenges
further harm the relationship with the consumers that makes the entity to suffer loss in
satisfaction, loyalty and trust of customers, harm to brand image, decrement in profits, etc. Some
of the major factors that are responsible for these issues are the poor attention rendered to the
customers, ineffective staff members, poor communication skills of front line operators with
consumers, internal business environment, etc.
In context to the business performance, Bryman and Bell (2015) said that customer
relationship plays a major role. There are various direct and indirect benefits that are brought to
an organisation by managing its customers. These advantages further assists in the improvement
of the overall organisational performance. It should be recognised that there are various factors
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which are associated with it such as brand image, company recognition, improved profit,
effective operational activities, etc.
1.4 Research Methodology
In order to achieve the aim of present research work, a guideline is entailed to set up to
gather the needed information effectively. In this way, research method are required to decide.
This methodology acts as a base map following which the undertaken work can be accomplished
appropriately. This information is explained below in brief:
 Research Approach: There are two approaches that can be selected for completing a
research and they are inductive and deductive. The present work will require data from
secondary sources and hence, inductive approach will be chosen for the research.
 Research Design: Design of a research can be of antithetic types depending on the aim
to be achieved. In order to attain the present aim, the research design that will be
followed is descriptive. It is because of the fact that both positive and negative aspects of
the study will be discussed in it.
 Research Philosophy: There exist two types of research philosophies that can be used
for accomplishing the work effectively. These are positivism and interprevitism. In
context to the present research different perspective may have to be dealt and hence,
interprevitism will be used.
 Data Collection: In order to gain the aims and objectives of the research, reliable data
will be required. There are mainly two sources from which data can be collected and they
are primary and secondary. For the present research work, both primary and secondary
sources will be used for collecting data.
 Data Sampling: In order gain the information from the primary source so that specific
data can be gathered, the tool is chosen to be questionnaire. A sample size of 50
employees working in the firm will be taken with the help of random probability
sampling method.
 Data Analysis: In order to plot the findings effectively, it is essential to analyse the
information in an impelling manner. For the same, the information collected from the
employees through questionnaire will be analysed by making use of thematic analysis.
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1.5 Research Structure
In order to accomplish the research in an effective manner, a structure is necessary to be
followed. This will assist in completing the work in an organised form by concentrating all the
areas appropriately. Firstly, all the basics that will be utilised in undertaking the research work
will be introduced so that work can be moved in right direction. This sections acts as road map in
accomplishing the tasks. Following this, theoretical frameworks are established so that research
can be formulated effectively. This is the most important section of the research as it renders
assistance in carrying out the empirical work. For the present research, viewpoints of different
authors will be collected and regarded as theoretical base.
Later, research methodology is described so that the practical notation can be performed
effectively. All the elements that will be sued either for data collection, analysation,
interpretation, etc. are discussed in this section of the report. Further, based on the theories and
paradigms mentioned before, the actual aim of the research is attained by making use of the
empirical practices. The present research work will includes questionnaire as the tool for getting
the practical data. After performing the practical operations, the findings are gathered to frame
appropriate conclusive statement. Meanwhile, the collected information is analysed by making
use of the appropriate analysis. The respondents of employees collected with the help of
questionnaire will be analysed with the help of thematic analysis. The outcomes that will be
obtained through the thematic analysis will be studied and conclusion will be achieved. Based on
these results, suitable suggestions will be given to selected organisation Lloyd's Bank so that it
can improve its performance.
Chapter 2: Literature Review
2.1 Introduction
Customers are regarded as the backbone of any business and hence, they are entailed to
treat effectively. It is foremost duty of an organisation to pay attention on this segment.
Literature review is the most important section of a research work. It is because it assist in setting
a theoretical framework that is used in further empirical operations. In this section of the report,
perceptions and statements of different authors on the research topic are presented. Also, a
detailed theoretical framework is setted for the further proceedings.
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2.2 Literature Review
Each and every organisation need effective practices that can maintain relations with
customers. In order to maintain good relationship between company and customers, they hire the
management of customers relationship. It is the element who provide their products and services
to their customers and fulfil the entire expatiations of the customers. () stated that customer
relationship management is increasingly important to company as they seek to improve their
profits thorough long term relationship with customers. Customers relationship management has
become one of the important tools essential for organisational success. It is important in the first
instance to confirm that the main purpose behind customers oriented behaviours is to increase
customer's long lasting satisfaction and create customer satisfaction. Organisational performance
is depend on the customers relationship management, because their entire selling process
accomplish by the customers relationship management. If they will increase their sales, then
company get the target and goals which is set by the managers. Through it, organisation
performance can increase on daily basis. However, their customers relationship management is
very important department for increasing their effective performance. Customer relationship
management is the strongest and the most efficient approach in maintaining and creating
relationship with customers. It is not only pure business but also ideate strong personal bonding
within people.
() further added that the entire performance of the company is based on the customers
relationship management, because they are the reason behind their customers' faith and loyalty.
They are working with the people, and get the faith and loyalty of their customers. If they will
get it, they customers will not but their product and services from any another company. So,
organisation get the goals and target from that types of customers. Customers relationship
management make a planning for their customers and provide them effective services. They are
the representative of the company. They present the product and service behalf of company.
Once this personal and emotional linkage built, it is very easy for any organisation to know the
actual needs of customers and help them to serve in a better way. It is a belief that more the
sophisticated planing involved I implementing the customers relationship management. When
they accomplish their target from the people, it will also beneficial for the company. Their
performance will be increase and they are able to get more profit from the customers relationship
management.
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CHAPTER 3
3.1 Methodology, methods and techniques
Methodology consists very important role that make creative functioning at workplace. In
this way, positive outcomes ascertain at workplace which assists to conduct proper research
program (Sekaran and Bougie, 2016). Therefore, different tools and techniques implemented that
helps to meet with aims and objectives of the organisation. Furthermore, effective tools has been
carried which develop systematic review of activities at workplace. It helps to demonstrate
research methodology to meet with targets as well. There are several approaches ascertain that
make creative results to accomplish the objectives of Lloyd Bank. For the present business unit,
following are different methods will be determines to accomplish aims and objectives:
 Research philosophy: Research philosophy is the most important fundamental aspect
that assists to create effective functioning at workplace. In this way, the company need to
focus on the subjective part that assists to include theories and models at workplace
(Bryman and Bell, 2015). With the help of different elements, data has been interprets in
systematic manner. Furthermore, it includes interpretivism and positivism research
philosophy. In order to conduct the present research program, interpretivism research
philosophy has been selected that helps to find useful and relevant information towards
the project. On the other hand, positivism philosophy is not useful to carry effective
research because it is not find useful information at workplace.
 Research design: Research design for the present research program helps to meet with
aims and objectives in systematic way. There are some research design exists that helps
to find useful information to enhance performance of Lloyd Bank. In front of researcher,
experimental, exploratory, descriptive, etc. research design has been placed. From the
above, they took descriptive research design to find useful information at workplace
(Cheng, Yang and Sheu, 2014). It is also useful to make implied theoretical results in the
project.
 Research approach: In addition to this, it is the crucial element that used to make
effective results in the business. In this regard, proper functioning will be ascertain to
make data interpretation in systematic manner (Zikmund, Babin and Griffin, 2013). There
are different kinds of research approaches has been placed such as inductive and
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deductive. Researcher has taken inductive research approach through they are able to
interpret the relevant data at workplace. It also develops interpretation of data and
information to attain desired results at workplace (Real, Roldán and Leal, 2014). With the
help of inductive research approach, hypothesis test also develop that formulate scholar
process in the business. There are several theories and models are also describes with
different strategies in the general ways.
 Research strategy: Further, there are different types of research strategy has been
implemented at workplace that assists to find useful and relevant information. In this
way, researcher need to take proper strategy that assists to frame relevant results
regarding business performance (Chen, Wang and Chow, 2014). There are two types of
research strategy exists such as qualitative and quantitative. It helps to carry effective
results at workplace to assess the performances. For the present research, qualitative data
has been taken that helps to make relevant growth and objectives in the business.
3.2 Sampling
In this kind of tool, researcher require development of the operations and functions with
assessment of the research program. It is the best way through performances of Lloyd Bank has
been assessed. Hereafter, researcher could recommend that they will easily develop their
performance in systematic manner (Rosemann and vom Brocke, 2015). They can also frame
opportunities which could be relate with the primary and secondary information which is needed
to perform task. Primary data has been taken from the questionnaire which is the important tool
to accomplish desired results at workplace. From the research, different responses has been taken
to accomplish goals and objectives at workplace. On the basis of respondent outcomes, present
research program will be ascertain in systematic manner. Simple random sampling method has
been used to meet with aims and objectives. It creates effective functioning at workplace to
identify useful information at workplace (Yusuf, Gunasekaran and Cang, 2014).
This element help to create equal opportunities that are given to each respondent towards
the aims and objectives. With this regard, researcher need to ask about the each question that
taken from the respondent views. On the basis of that responses, decisions could be made in
systematic way. In the present report, 50 employees has been taken as the sample size. It is the
important element that helps to meet with aims and objectives at workplace (Joe Jr, Sarstedt and
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Kuppelwieser, 2014). In addition to this, positive relationship also made to improve performance
of Lloyd Bank. Social media is highly influence to the customer satisfaction in systematic
manner. With the help of goals and objectives, performance will be improves in systematic
manner.
3.3 Data collection
Data collection is the important element that assists to achieve desired results at
workplace. In this regard, Lloyd Bank need to improve their performance in systematic aspect. In
this regard, primary and secondary data has been collected to identify useful information towards
the business aims (Saeidi, Sofian and Saaeidi, 2015). It helps to develop desired goals and
objectives at workplace. Primary data helps to researcher to conduct survey in which fresh
information will be gather. It is collected at first time so that aims and objectives will be
develops to operate systematic functions. There are several ways to collect the primary data such
as interview, observation, survey, etc. In respect to accomplish aims and objectives, researcher
used interview from the employees of Lloyd Bank. Beside this, secondary information also
gather to ascertain useful results at workplace. It includes several elements such as journals,
magazines, articles, published research, etc. (Al Ariss, Cascio and Paauwe, 2014). Secondary
information also gather from the above resources that assists to find useful information in the
business. Hence, targets will be accomplish in systematic manner.
In the present study, researcher taken primary sources that helps to assess different views
from several respondents. Questionnaire has been design to meet with aims and objectives in the
business. Therefore, it is the systematic review of activities to develop creative results at
workplace. Along with this, secondary information also collected from the different aspects such
as books, journals, etc. (Yusuf, Gunasekaran and Cang, 2014).
3.4 Ethical consideration
For the present research, it is very important to develop outcomes in systematic manner.
In this regard, researcher need to assess wrong and right things that are take place in the
business. Furthermore, they need to ensure that they have taken they are proper following ethics
and regulations at workplace. It is the best way to meet with systematic activities at workplace.
In addition to this, surveyor need to ensure that study will never impact negatively on the
respondents (Cheng, Yang and Sheu, 2014). Primary and secondary information analysis assists
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to maintain profitability and performance in systematic way. Researcher has main aim is to
improve performance of Lloyd Bank. It assists to ascertain and spread relevant information that
never impact on person life. Therefore, effective program has been carried to find useful
information (Zikmund, Babin and Griffin, 2013).
In respect to maintain the confidentially, personal information that are given by
respondent also need to be saved. Therefore, it assists to protect from the researcher to conduct
and analysis relevant results. It is the best way to find useful information to make effective
functions. Effective and reliable information also carry systematic review of the activities. Proper
rephrasing also ascertain so that there is no chance of issue of plagiarism. Furthermore, validity
and reliability also determines as the important aspect to promote effective functioning in it.
With the help of different factors, desired results will be accomplish (Al Ariss, Cascio and
Paauwe, 2014).
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CHAPTER 4
4.1 Data Collection
As the samples have been taken from employees of the Lloyd's bank, it is obvious enough that
the questions will be asked for the same.
Questionnaire
Name :
Age :
Gender :
Q1. What are the services provided by you to the customers?
 Opening bank account
 Providing support
 Managing interest rates
Q2. To what extent, you are able to satisfy the queries of the customers?
 Strongly high
 High
 Average
 Lower
 Strongly lower
Q3. By what means do you attract the customers?
 By providing extra interest on loans
 By giving some limitation in return period.
 By providing additional offers.