Current Trends and Issues in Financial Planning

你觉得广告对你有什么影响英语作文全文共3篇示例，供读者参考篇1The Impact of Advertising on MeAdvertising is everywhere in our daily lives, from billboards on the streets to commercials on TV. It is a powerful tool used by companies to promote their products or services to consumers. As a consumer, I am constantly bombarded with advertisements and it is important to understand how they impact me.One of the main effects of advertising on me is that it influences my purchasing decisions. When I see an advertisement for a product that I like, it can persuade me to buy it. The catchy slogans, beautiful images, and compelling messages in ads can create a desire in me to own that product. For example, when I see an advertisement for a new smartphone with amazing features, I might be tempted to upgrade my current phone even if I don't really need it.Moreover, advertising can also shape my preferences and perceptions. The way products are portrayed in advertisements can influence how I view them. If a product is marketed as trendy,cool, or high-quality, I may perceive it in a more positive light. On the other hand, if a product is advertised as old-fashioned or low-quality, I may be less inclined to buy it.In addition, advertising can impact my behavior and lifestyle choices. For example, if I see advertisements for fast food restaurants promoting delicious and convenient meals, I may be more likely to eat out rather than cook at home. Similarly, if I see ads for luxury vacations in exotic locations, I may feel the urge to book a trip and indulge in a lavish holiday.Furthermore, advertising can also affect my self-esteem and body image. The media often portrays unrealistic standards of beauty and perfection, leading to feelings of inadequacy and insecurity. Advertisements featuring flawless models with perfect bodies can make me feel pressured to look a certain way or strive for unattainable ideals of beauty.On the other hand, advertising can also have positive effects on me. It can inform me about new products, services, or events that I may be interested in. For example, if I see an advertisement for a concert of my favorite band, it can help me stay informed and make plans to attend the event. Advertising can also educate me about important issues, such as health and safety precautions or environmental initiatives.Overall, advertising plays a significant role in shaping my consumer behavior, preferences, perceptions, and lifestyle choices. It can influence my purchasing decisions, impact my self-esteem and body image, and inform me about new products and events. As a consumer, it is important to be aware of the effects of advertising and make conscious choices about the products and services we choose to buy.篇2The Impact of Advertisements on MeAdvertisements play an important role in our daily lives. We are constantly bombarded with various forms of advertising through television, radio, social media, and billboards. As a consumer, I believe that advertisements have a significant impact on my choices and preferences.Firstly, advertisements influence my buying behavior. When I see a commercial for a new product or service, it piques my interest and I am more inclined to try it out. The catchy slogans, vibrant visuals, and persuasive messages in advertisements are designed to capture my attention and convince me to make a purchase. For example, when I see a fast-food commercialshowcasing a delicious burger, I am tempted to visit the restaurant and try it for myself.Furthermore, advertisements shape my perceptions and attitudes towards certain products or brands. Through consistent exposure to advertisements, I develop a positive or negative perception of a product based on its portrayal in the media. For instance, if I see a beauty advertisement featuring flawless models endorsing a skincare product, I may be more likely to believe that the product will improve my skin.In addition, advertisements have the power to create trends and influence popular culture. Advertisers often use celebrities, influencers, and social media platforms to promote their products and reach a wider audience. As a result, certain products or brands become trendy and fashionable, leading to a cultural shift in consumer preferences. For example, a popular clothing brand may collaborate with a celebrity to launch a new collection, causing a surge in sales and setting a new fashion trend.Moreover, advertisements play a vital role in informing and educating consumers about new products, services, and promotions. Through advertisements, I am able to learn about the latest innovations in technology, new releases in theentertainment industry, and upcoming sales and discounts. Advertisements serve as a valuable source of information that keeps me up to date with current trends and offerings in the market.However, it is important to be aware of the manipulative tactics used in advertising. Advertisers often employ persuasive techniques such as emotional appeal, celebrity endorsements, and fear tactics to influence consumer behavior. As a consumer, it is essential to critically evaluate advertisements and make informed decisions based on facts rather than manipulation.In conclusion, advertisements have a significant impact on my choices and preferences as a consumer. They influence my buying behavior, shape my perceptions and attitudes, create trends in popular culture, and inform me about new products and promotions. While advertisements can be persuasive and informative, it is important to be discerning and cautious in responding to them. By understanding the impact of advertisements, I can make more informed decisions as a consumer and navigate the complex world of marketing and advertising.篇3Title: The Impact of Advertising on MeAdvertisement is everywhere in our daily life, from the billboards on the streets to the commercials on TV, from the sponsored posts on social media to the pop-up ads on websites. It is undeniable that advertising has a significant influence on us, shaping our preferences, beliefs, and behaviors. In this essay, I would like to discuss the impact of advertising on me personally.First and foremost, advertising has a powerful influence on my consumption habits. The repetitive exposure to advertisements for certain products or brands can create a sense of familiarity and trust, prompting me to make purchases based on the information and images presented in the ads. For example, when I see a vibrant and appealing advertisement for a new smartphone, highlighting its sleek design and advanced features, I may be inclined to buy it even if I don't really need a new phone. This demonstrates how advertising can shape our desires and prompt impulsive buying decisions.Furthermore, advertising plays a role in shaping my perceptions of beauty and success. The glamorized images of models and celebrities in fashion ads and cosmetic commercials can create unrealistic standards of beauty, leading me to compare myself unfavorably and reinforcing feelings ofinadequacy. Similarly, the depiction of affluent lifestyles in luxury brand advertisements can foster a desire for material possessions and status symbols, driving me to pursue materialistic goals in the pursuit of happiness and fulfillment.Moreover, advertising can influence my attitudes and beliefs on social issues and cultural values. Advertisements often convey implicit messages about gender roles, diversity, and societal norms, shaping my understanding of what is acceptable or desirable in society. For instance, the representation of women in traditional gender roles in household product commercials can perpetuate stereotypes and restrict notions of gender equality. Similarly, the portrayal of certain cultural practices or beliefs in ads can reinforce stereotypes and perpetuate stigma towards marginalized communities.In conclusion, advertising has a multifaceted impact on me, influencing my consumption habits, perceptions of beauty and success, as well as attitudes and beliefs on social issues. While advertising can be persuasive and manipulative in nature, it is important to approach it critically and mindfully, discerning between persuasive techniques and genuine information. By being aware of the influence of advertising and its potential effects, I can make informed choices and resist the pressures ofconsumerism and conformity. Ultimately, advertising may shape my preferences and behaviors to some extent, but ultimately, I have the agency and autonomy to make decisions that align with my values and beliefs.。

大数据与财务管理转专业申请书示例回答如下1:Big Data and Financial Management: A Personal Statement for Change of MajorAs a student majoring in a non-business field, I have always been interested in the applications of big data in various industries. In particular, I am fascinated by the ways in which big data can be leveraged to improve financial management and decision-making. After careful consideration andself-reflection, I have come to the decision to change my major to finance with a focus on big data analytics.The field of finance has undergone significant changes in recent years, with the rise of big data and artificial intelligence playing a major role. The ability to collect, analyze, and interpret large amounts of financial data has become increasingly important for businesses and organizations of all sizes. With my background in data analysis and programming, I believe that I am well-suited to pursue a career in finance with a focus on big data.In addition to my technical skills, I am also deeply interested in the practical applications of big data in finance. For example, I am eager to explore how big data can be used to identify trends and patterns in financial markets, as well as to develop predictive models for risk management and investment strategies. I am also interested in learning about the ethical considerations surrounding the use of big data in finance, and how these considerations can be addressed through responsible data management and governance.Overall, I believe that my passion for big data and my interest in finance make me an ideal candidate for this change of major. I am excited to embark on this new journey and to explore the many opportunities that lie ahead in the field of finance with a focus on big data analytics.大数据与财务管理：转专业个人陈述作为一个非商科专业的学生，我一直对大数据在各个行业中的应用感兴趣。

金融风险管理英文版本教材Financial Risk Management TextbookTitle: Financial Risk Management: A Comprehensive Guide Author: [Your Name]Edition: 1st EditionPublisher: [Publishing Company]Publication Year: [Year]ISBN: [ISBN number]Table of Contents:1. Introduction to Financial Risk Management1.1 Definition and Importance of Financial Risk Management 1.2 Types of Financial Risks1.3 Objectives of Financial Risk Management2. Market Risk Management2.1 Concept and Measurement of Market Risk2.2 Market Risk Models (Value at Risk, Expected Shortfall)2.3 Hedging Techniques for Market Risk3. Credit Risk Management3.1 Introduction to Credit Risk3.2 Credit Risk Assessment and Evaluation3.3 Credit Risk Mitigation Techniques4. Liquidity Risk Management4.1 Understanding Liquidity Risk4.2 Liquidity Risk Measurement and Monitoring4.3 Liquidity Risk Management Strategies5. Operational Risk Management5.1 Overview of Operational Risk5.2 Identification and Assessment of Operational Risks5.3 Operational Risk Measurement and Control6. Interest Rate Risk Management6.1 Understanding Interest Rate Risk6.2 Measurement and Management of Interest Rate Risk6.3 Strategies for Interest Rate Risk Mitigation7. Foreign Exchange Risk Management7.1 Introduction to Foreign Exchange Risk7.2 Tools and Techniques for Foreign Exchange Risk Management7.3 Currency Hedging Strategies8. Enterprise Risk Management8.1 Overview of Enterprise Risk Management8.2 Framework for Implementing Enterprise Risk Management8.3 Integration of Different Risk Management Approaches9. Risk Management in Financial Institutions9.1 Risk Management in Banks9.2 Risk Management in Insurance Companies9.3 Risk Management in Investment Firms10. Regulatory and Legal Aspects of Financial Risk Management 10.1 Regulatory Environment for Risk Management10.2 Compliance and Legal Issues in Risk Management11. Case Studies in Financial Risk Management11.1 Real-life Risk Management Scenarios11.2 Analysis and Solutions for Risk Management Cases12. Emerging Trends and Challenges in Financial Risk Management12.1 Impact of Technology on Risk Management12.2 Future Challenges and OpportunitiesAppendix: Glossary of Financial Risk Management Terms BibliographyIndexNote: This textbook is intended for educational purposes and provides a comprehensive overview of various aspects of financial risk management. It covers key concepts, theories, and practical strategies to effectively manage and mitigate financial risks in different sectors. The case studies included further enhance the understanding and application of risk management principles.。

时装潮流的利与弊英语作文Title: Pros and Cons of Fashion Trends。

Fashion trends have become an integral part of modern society, influencing not only how we dress but also our lifestyles and social interactions. While there are undeniable benefits to following fashion trends, there are also drawbacks that need to be considered. In this essay, we will explore the pros and cons of fashion trends.Pros:1. Self-expression: Fashion trends provide individuals with a platform to express their unique personalities and creativity through clothing choices. Whether it's bold colors, eclectic patterns, or minimalist styles, fashion allows people to showcase their individuality.2. Boosting confidence: Wearing fashionable clothing that aligns with current trends can boost one's confidenceand self-esteem. When individuals feel good about how they look, they tend to exude more confidence in their interactions with others, leading to positive outcomes in various aspects of life.3. Economic stimulation: The fashion industry is a significant contributor to the economy, generating employment opportunities and driving consumer spending. Fashion trends encourage people to update their wardrobes regularly, leading to increased sales for clothing retailers and supporting related industries such as manufacturing and marketing.4. Cultural exchange: Fashion trends often transcend geographical and cultural boundaries, allowing for the exchange of ideas and styles across different regions and societies. This cultural exchange fosters diversity and inclusivity within the fashion industry, celebrating various traditions and perspectives.Cons:1. Environmental impact: The fast-paced nature of fashion trends contributes to overconsumption and waste, leading to environmental degradation. The production of clothing often involves the use of non-renewable resources, excessive water consumption, and the release of pollutants into the environment, exacerbating issues such as climate change and pollution.2. Pressure to conform: Following fashion trends can create a sense of pressure to conform to societal norms and ideals of beauty. This pressure can lead to feelings of inadequacy and self-doubt, especially among individuals who cannot afford expensive or trendy clothing or those whose bodies do not conform to mainstream standards.3. Financial strain: Keeping up with the latest fashion trends can be financially burdensome, especially for those on tight budgets. The constant need to purchase newclothing items to stay fashionable can lead to overspending, debt, and financial insecurity for individuals and families.4. Ethical concerns: The fashion industry has beencriticized for its exploitation of labor, particularly in developing countries where workers, often underpaid and subjected to unsafe working conditions, produce clothingfor global markets. Additionally, there are concerns about the use of animal products in fashion, such as fur and leather, raising ethical questions about animal welfare and sustainability.In conclusion, while fashion trends offer opportunities for self-expression, confidence-building, and cultural exchange, they also come with significant drawbacks, including environmental impact, social pressure, financial strain, and ethical concerns. As consumers, it is essential to be mindful of the consequences of our fashion choices and advocate for more sustainable and ethical practices within the industry. Ultimately, striking a balance between embracing trends and practicing responsible consumption is key to enjoying the benefits of fashion while minimizingits negative impacts.。

从事分析工作英语作文Analysis Work。

Analysis work is an important part of many industries and fields, from finance to marketing to science. Itinvolves examining data and information to uncover patterns, trends, and insights that can be used to make informed decisions and drive business success. In this essay, wewill explore the role of analysis work, its importance, and the skills and tools needed to excel in this field.First and foremost, analysis work is crucial for making sense of the vast amounts of data that organizations collect. In today's digital age, companies and institutions are inundated with data from various sources, such as customer transactions, social media interactions, andsensor readings. Without analysis work, this data would be overwhelming and meaningless. Analysis work helps to transform raw data into actionable insights, enabling organizations to make informed decisions and gain acompetitive edge.Furthermore, analysis work is essential for identifying trends and patterns that can drive business success. By examining historical data and current trends, analysts can uncover valuable insights that can be used to optimize processes, improve products and services, and identify new opportunities. For example, a marketing analyst may use data analysis to identify the most effective marketing channels, while a financial analyst may use it to identify investment opportunities.In addition, analysis work plays a crucial role in problem-solving and decision-making. By examining data and information, analysts can identify the root causes of problems and develop effective solutions. For example, a healthcare analyst may use data analysis to identify the factors contributing to a high readmission rate, while a supply chain analyst may use it to optimize inventorylevels and reduce costs.To excel in analysis work, individuals need acombination of technical skills, critical thinking, and domain knowledge. Technical skills, such as proficiency in data analysis tools and programming languages, areessential for working with large datasets and extracting insights. Critical thinking skills are needed to interpret data and draw meaningful conclusions, while domain knowledge is essential for understanding the context in which the analysis is being conducted.In conclusion, analysis work is a crucial part of many industries and fields, enabling organizations to make sense of data, identify trends, and make informed decisions. To excel in this field, individuals need a combination of technical skills, critical thinking, and domain knowledge. With the increasing importance of data in today's world, analysis work will continue to play a vital role in driving business success.。

有关金融热点的英语作文Title: Financial Hotspots: Trends and Challenges in the Modern EconomyIn the dynamic and fast-paced world of finance, certain hotspots have emerged as key drivers of global economic activity. These financial hotspots, ranging from technological advancements to regulatory changes, are shaping the future of the financial industry and presenting both opportunities and challenges.One of the most prominent financial hotspots is the rise of digital currencies and blockchain technology. Cryptocurrencies like Bitcoin and Ethereum have disrupted traditional financial systems, enabling peer-to-peer transactions without the need for intermediaries. This has led to increased efficiency and transparency in financial transactions, but also raises concerns about regulatory compliance and security risks.Another significant financial hotspot is the development of artificial intelligence (AI) and machine learning in financial services. AI-powered algorithms are being used for risk assessment, fraud detection, and personalized financial advice,among other applications. These technologies are enhancing the efficiency and accuracy of financial decision-making, but also pose challenges in terms of data privacy and ethical considerations.Regulatory changes are also a key financial hotspot. The increasing globalization of financial markets has led to the need for harmonized regulatory frameworks. At the same time, the rise of fintech companies and digital financial services has prompted regulatory authorities to adapt and innovate their rules and regulations. This balance between fostering innovation and protecting consumers is a challenging task for regulators.Furthermore, the impact of environmental, social, and governance (ESG) factors on financial decision-making is becoming increasingly significant. Investors and financial institutions are increasingly considering the sustainability and ethical implications of their investments, leading to a shift towards more responsible and sustainable financial practices.In conclusion, financial hotspots are shaping the modern economy, presenting both opportunities and challenges. The rise of digital currencies, the application of AI in financialservices, regulatory changes, and the focus on ESG factors are all driving change in the financial industry. As we navigate these hotspots, it is crucial to strike a balance between innovation, efficiency, and sustainability to ensure a robust and inclusive financial system for the future.。

考研英语作文谁预测的准1. It's hard to say who can accurately predict the future, especially when it comes to the economy. Many experts and analysts claim to have the ability to foresee market trends and predict financial outcomes, but the reality is that no one can truly predict with absolute certainty what will happen in the future.2. Some people believe that economists have the knowledge and tools to make accurate predictions about the economy. They argue that economists study historical data, analyze current trends, and use mathematical models to make informed forecasts. However, it's important to rememberthat economics is a social science and is subject to human behavior and other unpredictable factors.3. On the other hand, there are those who believe that no one can accurately predict the future, and that attempts to do so are nothing more than guesswork. They argue that the future is influenced by a multitude of factors that areconstantly changing and evolving, making it impossible to accurately predict outcomes.4. In reality, predictions about the future are often based on assumptions and educated guesses. People make predictions based on their knowledge and understanding of a particular subject, but these predictions are not always accurate. The future is uncertain, and there are always variables and unforeseen events that can impact outcomes.5. It's also worth noting that predictions can sometimes become self-fulfilling prophecies. If enough people believe in a certain outcome and act accordingly, it can influence the outcome itself. This is known as the "expectations theory" in economics, where people's expectations about the future can shape their behavior and ultimately impact the outcome.6. In conclusion, while some people may claim to have the ability to accurately predict the future, it's important to approach such predictions with skepticism. The future is uncertain and influenced by a multitude offactors, making it impossible to predict with absolute certainty. It's always wise to consider multiple perspectives and take predictions with a grain of salt.。

关于推迟退休年龄利弊英语作文全文共3篇示例，供读者参考篇1On the issue of delaying retirement age, there are both pros and cons to consider. This is a topic that has become increasingly relevant in many countries worldwide as populations age and pension systems struggle to keep up. In this essay, we will discuss the advantages and disadvantages of postponing the retirement age.First and foremost, one of the main benefits of increasing the retirement age is that it can help to address the financial strain on pension systems. With people living longer than ever before, many pension systems are facing a shortfall in funds as retirees draw on their benefits for longer periods of time. By raising the retirement age, governments can ensure that pension funds are able to sustainably support retirees in the future.Another advantage of delaying retirement age is that it can help to address labor shortages in certain industries. With birth rates declining in many countries, there is a growing need for workers to stay in the workforce for longer periods of time inorder to fill essential jobs. By increasing the retirement age, governments can encourage older workers to remain in the labor force and provide valuable skills and experience to industries facing shortages.Additionally, delaying retirement age can have positive effects on the overall economy. With more people working for longer periods of time, there are more opportunities for individuals to save for retirement, invest in their futures, and contribute to economic growth. This can help to bolster the economy and ensure its long-term sustainability.However, there are also drawbacks to raising the retirement age that must be considered. One of the main concerns is that older workers may face challenges in finding and keeping employment as they age. Age discrimination in the workforce is a very real issue, and delaying retirement age could exacerbate this problem, leaving many older workers without job opportunities.Furthermore, increasing the retirement age can have negative impacts on the health and well-being of older individuals. Many people look forward to retirement as a time to relax, enjoy leisure activities, and spend time with family and friends. By delaying retirement age, individuals may be requiredto continue working in jobs that are physically or mentally demanding, leading to increased stress and potential health problems.In conclusion, the decision to delay retirement age is a complex issue with both advantages and disadvantages. While increasing the retirement age can help to address financial strains on pension systems, labor shortages, and stimulate economic growth, it may also have negative impacts on older workers and their well-being. Ultimately, any changes to retirement age policies must carefully consider these factors in order to strike a balance between supporting the needs of retirees and ensuring the sustainability of pension systems.篇2Title: The Pros and Cons of Delaying Retirement AgeIntroductionAs societies around the world face the challenges posed by an aging population and strained pension systems, the idea of raising the retirement age has gained traction in many countries. Advocates argue that delaying retirement can have numerous benefits, from boosting economic productivity to alleviating financial pressures on pension systems. However, opponentsraise concerns about the impact of such policies on older workers, particularly in terms of job availability and health outcomes. In this essay, I will examine the various pros and cons of delaying retirement age.Pros of Delaying Retirement Age1. Increased Economic ProductivityOne of the main arguments in favor of raising the retirement age is that it can help to boost economic productivity. As people are living longer and healthier lives, they are able to work for longer periods of time, contributing to the overall economic output of a country. This increase in productivity can help to offset the costs associated with supporting an aging population and reduce the strain on pension systems.2. Improved Financial SecurityDelaying retirement age can also lead to improved financial security for older workers. By working for a few extra years, individuals can increase their retirement savings and build up a larger nest egg for their later years. This can help to reduce the financial pressures on pension systems and ensure that individuals have enough funds to support themselves in retirement.3. Social EngagementFor many people, work provides a sense of purpose and social engagement that can be difficult to replicate in retirement. By delaying retirement age, individuals can continue to stay active and engaged in their communities, while also maintaining important social connections with colleagues and peers. This can help to improve mental health and overall well-being in older workers.Cons of Delaying Retirement Age1. Job AvailabilityOne of the main concerns raised about raising the retirement age is the impact it can have on job availability for younger workers. If older workers continue to stay in the workforce for longer periods of time, this can lead to reduced job opportunities for younger generations entering the workforce. This can exacerbate issues of youth unemployment and limit the ability of younger workers to advance in their careers.2. Health RisksThere is also evidence to suggest that delaying retirement age can have negative health consequences for older workers. As people age, they may experience declines in physical andcognitive abilities that can make it more difficult to perform certain types of work. This can lead to increased stress, burnout, and a higher risk of developing chronic health conditions. In some cases, staying in the workforce past a certain age may actually be detrimental to an individual's health and well-being.3. Workforce DiversityAnother potential downside of delaying retirement age is the impact it can have on workforce diversity. By allowing older workers to stay in the workforce for longer periods of time, there may be fewer opportunities for younger workers, as well as individuals from underrepresented groups, to enter and advance in the workforce. This can perpetuate inequalities and limit the ability of diverse populations to succeed in their careers.ConclusionIn conclusion, the debate over delaying retirement age is complex and multifaceted, with both pros and cons to consider. While raising the retirement age can help to boost economic productivity, improve financial security, and promote social engagement for older workers, it may also have negative repercussions in terms of job availability, health risks, and workforce diversity. As policymakers grapple with the challenges posed by an aging population, it is important to carefully weighthe potential benefits and drawbacks of raising the retirement age to ensure that policies are designed to support thewell-being of all workers, regardless of age.篇3Delaying retirement age has become a hot topic in recent years due to the challenges posed by an aging population and increasing life expectancy. While some argue that raising the retirement age could alleviate financial pressures on social security systems and ensure a more sustainable pension system, others believe that it could have negative consequences on individuals, society, and the economy.One of the main benefits of postponing retirement age is the financial sustainability of social security systems. With more people living longer and fewer young workers entering the workforce, there is a growing concern about the ability of pension systems to support retirees. By pushing back the retirement age, governments can help reduce the strain on social security systems and ensure that future generations will still have access to retirement benefits.Moreover, delaying retirement age can also help individuals to stay active, engaged, and healthy for a longer period of time.Many studies have shown that staying in the workforce can have a positive impact on overall health and well-being, as it provides a sense of purpose, social connections, and mental stimulation. Working longer can also help individuals to continue to contribute to society, develop new skills, and stay connected with current trends and technologies.However, there are also several drawbacks to raising the retirement age. First and foremost, not everyone is able to work longer due to health issues, physical limitations, or the nature of their job. For individuals in physically demanding or high-stress occupations, postponing retirement age could lead to burnout, increased risk of injury, and decline in overall well-being.Additionally, delaying retirement age can have negative implications for younger workers, as they may face limited opportunities for advancement and career growth. With older employees staying in the workforce longer, younger workers may find it difficult to secure stable employment, gain relevant experience, and climb the corporate ladder. This could lead to a generational divide and increased competition for scarce job opportunities.Furthermore, pushing back the retirement age could also have economic consequences, as it may result in a decrease inconsumer spending, lower productivity, and increased unemployment rates. Older workers who stay in the workforce longer may prevent younger workers from entering the job market and hinder innovation and creativity in the workplace. This could ultimately slow down economic growth and hinder the development of new industries and technologies.In conclusion, while delaying retirement age may offer some benefits in terms of financial sustainability, individual well-being, and societal contributions, it also comes with significant drawbacks that need to be carefully considered. It is essential for policymakers to find a balance between ensuring the long-term viability of social security systems and protecting the rights and interests of individuals of all ages. It is crucial to provide support and options for older workers who wish to continue working, as well as create opportunities for younger workers to enter the workforce and thrive in a rapidly changing economy. Only by finding a holistic and inclusive approach to retirement age can we create a more equitable, sustainable, and prosperous society for all.。

TwoManagement Yesterday and Today1. HISTORICAL BACKGROUND OF MANAGEMENT.There are many examples from past history that illustrate how management has been practiced for thousands of years.The Egyptian pyramids and the Great Wall of China are good examples of projects of tremendous scope and magnitude that employed tens of thousands of people. How was it possible for these projects to be completed? The answer is management. Regardless of what managers were called at the time, someone had to plan what was to be done, organize people and material, lead and direct the workers, and impose controls to ensure that things were done as planned.Other examples of early management practices can be seen at the Arsenal of Venice. For instance, assembly lines, accounting systems, and personnel functions are just a few of the processes and activities in organizations at that time that are also common to today’s organizations. Organizations and managers have been around for thousands of years.Adam Smith, author of the classical economics doctrine, The Wealth of Nations, argued brilliantly about the economic advantages that division of labor (the breakdown of jobs into narrow, repetitive tasks) would bring to organizations and society.The Industrial Revolution can be thought of as possibly the most important pre-twentieth-century influence on management. The introduction of machine powers, combined with the division of labor, made large, efficient factories possible. Planning, organizing, leading, and controlling became necessary.Exhibit 2.1 presents six major approaches to management.2. SCIENTIFIC MANAGEMENT.Scientific management is defined as the use of the scientific method to define the “one best way” for a job to be done.A. Important ContributionsFrederick W. Taylor is known as the “father” of scientific management.Taylor’s work at the Midvale and Bethlehem Steel companies motivatedhis interest in improving efficiency.a. Taylor sought to create a mental revolution among bothworkers and managers by defining clear guidelines forimproving production efficiency. He defined fourprinciples of management (Exhibit2.2).b. His “pig iron” experiment is probably the most widelycited example of scientific management.c. Using his principles of scientific management, Taylorwas able to define the one best way for doing each job.d. Overall, Taylor achieved consistent improvements inproductivity in the range of 200 percent. He affirmed therole of managers to plan and control and of workers toperform as they were instructed.2. Frank and Lillian Gilbreth were inspired by Taylor’s work andwent on to study and develop their own methods of scientificmanagement.a. Frank Gilbreth is probably best known for hisexperiments in reducing the number of motions inbricklaying.b. The Gilbreths were among the first to use motion picturefilms to study hand and body motions in order toeliminate the wasteful ones.c. They also devised a classification scheme to label 17basic hand motions called therbligs.B. How Do Today’s Managers Use Scientific Management?The guidelines that Taylor and others devised from improvingproduction efficiency are still used in organizations today. Currentmanagement practice isn’t restricted to scientific management, however.Some elements still used include:1. The use of time and motion studies.2. Best qualified workers.3. Design incentive systems based on output.3. GENERAL ADMINISTRATIVE THEORISTS.This group of writers focused on the entire organization. They’re important for developing more general theories of what managers do and what constitutes good management practice.A. The two most prominent theorists behind the general administrative approachwere Henri Fayol and Max Weber.1. Henri Fayol wrote during the same time period as Frederick Taylor.Fayol was the managing director of a large French coal-miningfirm.a. His attention was aimed at the activities of all managers.b. He described the practice of management as distinctfrom other typical business functions.c. He stated 14 principles of management(fundamental or universal truths of management that can be taught in schools). (See Exhibit2.3.)2. Max Weber (pronounced VAY-ber) was a German sociologistwho wrote in the early part of the 20th century.a. He developed a theory of authority structures anddescribed organizational activity based on authorityrelations.b. He described the ideal form of organization—thebureaucracy, defined as a form of organization markedby division of labor, a clearly defined hierarchy, detailedrules and regulations, and impersonal relationships. (SeeExhibit2.4.)B. How Do Today’s Managers Use General Administrative Theories?Some of our current management concepts and theories can be traced tothe work of the general administrative theorists.1. The functional view of a manager’s job can be traced to HenriFayol.2. Weber’s bureaucratic characteristics are still evident in many oftoday’s large organizations—even in highly flexibleorganizations of talented professionals where some bureaucraticmechanisms are necessary to ensure that resources are usedefficiently and effectively.4. QUANTITATIVE APPROACH TO MANAGEMENT.The quantitative approach to management involves the use of quantitative techniques to improve decision-making. This approach has been called operations research or management science. It includes applications of statistics, optimization models, information models, and computer simulations.A. Important Contributions.1. The quantitative approach evolved out of the development ofmathematical and statistical solutions to military problemsduring World War II.2. One group of military officers—the Whiz Kids—includedRobert McNamara and Charles “Tex” Thornton.B. How Do Today’s Managers Use the Quantitative Appro ach?1. This approach has contributed most directly to managerialdecision making, particularly in planning and controlling.2. The availability of sophisticated computer software programsmade the use of quantitative techniques somewhat lessintimidating for managers.5. TOWARD UNDERSTANDING ORGANIZATIONAL BEHAVIOR.The field of study concerned with the actions (behaviors) of people at work is called organizational behavior. Organizational behavior (OB) research has contributed much of what we know about human resources management and contemporary views of motivation, leadership, trust, teamwork, and conflict management.A. Early Advocates.Four people stand out as early advocates of the OB approach. Theseinclude Robert Owen, Hugo Munsterberg, Mary Parker Follett, andChester Barnard. Their ideas provided foundation for practices such asemployee selection procedures, motivation programs, work teams, andorganization-environment management techniques. (See Exhibit2.5 fora summary of the most important ideas of these early advocates.)B. The Hawthorne Studies were, without question, the most importantcontribution to the developing OB field.1. These were a series of experiments conducted from 1924 to theearly 1930s at Western Electric Company’s Haw thorne Works inCicero, Illinois joined by Harvard professor Elton Mayo and hisassociates.2. The studies were initially devised as a scientific managementexperiment to assess the impact of changes in various physicalenvironment variables on employee productivity.3. Other experiments looked at redesigning jobs, making changesin workday and workweek length, introducing rest periods, andintroducing individual versus group wage plans.4. The researchers concluded that social norms or group standardswere the key determinants of individual work behavior.5. Although not without critics (of procedures, analyses offindings, and the conclusions), the Hawthorne studies didstimulate an interest in human behavior in organizations.C. How Do Today’s Managers Use the Behavioral Approach?1. The behavior approach aids managers in designing motivatingjobs, working with employee teams, and opening upcommunication channels.6. 2. The behavioral approach has provided the foundation for currenttheories of motivation, leadership, group behavior and development,and other behavioral topics. THE SYSTEMS APPROACH.During the 1960’s researches began to analyze organizations from a systemsperspective based on the physical sciences.1. A system is a set of interrelated and interdependent partsarranged in a manner that produces a unified whole.2. The two basic types of systems are open and closed. A closedsystem is one that is not influenced by and does not interact withits environment. An open system is one that dynamicallyinteracts with its environment (see Exhibit2.6).A.The Systems Approach and Managersanization is made up of “interdependent factors, includingindividuals, groups, attitudes, motives, formal structure, interactions,goals, status and authority.2.Managers coordinate the work activities of the various parts of theorganization3.Decisions and actions taken in one organizational area will affectothers and vice versaOrganizations are not self-contained. They rely on their environment.7. THE CONTINGENCY APPROACH.A contingency approach is intuitively logical. One thing to say that the wayto manager “depends on the situation” and another to say what it depends on.1. The contingency approach to management is a view that theorganization recognizes and responds to situational variables asthey arise.2. Some popular contingency variables are shown in Exhibit2.7.8. CURRENT TRENDS AND ISSUESNow that you’ve got a good understanding of the evolution and past history of management theories and practices, what current concepts and practices are shaping today’s management history and changing the way that managers do their jobs?A. Globalization. Organizational operations no longer stop at geographicborders. Managers in all types and sizes of organizations are faced withthe opportunities and challenges of globalization.A.Ethics. Cases of corporate lying, misrepresentations, and financialmanipulations were widespread during 2002. Managers of firms such asEnron, ImClone, Global Crossing, and Tyco International put their self-interest ahead of others who might be affected by their decisions.1.While most managers continue to behave in a highly ethical manner,the abuses suggest a need to “upgrade” ethical standards.2.Ethics education is being widely emphasized in college curriculumsanizations are taking a more active role in creating and using codesof ethics, ethics training programs, and hiring ethics officers.Workforce diversity refers to employees in organizations who are heterogeneous in terms of gender, race, ethnicity, or othercharacteristics. The challenge for managers is to make theirorganizations more accommodating to diverse groups of people byaddressing different lifestyles, family needs, and work styles.1.Workforce diversity is a global issue2.Before the early 1980’s a melting pot or assimilation model wasused. It has been replaced by the recognition and celebration ofdifferences.3.Challenge for managers is to make organizations moreaccommodating to diverse groups of people by addressing differentlifestyles, family needs, and work styles.4.Smart managers recognize diversity as an asset in bringing a broadrange of viewpoints and problem-solving skills to a company.D. Entrepreneurship refers to the process whereby an individual or agroup of individuals uses organized efforts and means to pursueopportunities to create value and grow by fulfilling wants and needsthrough innovation and uniqueness.1. Three important themes stand out in this definition:a. The pursuit of opportunitiesb. Innovationc. Growth2. Entrepreneurship will continue to be important to societiesaround the world.Note: At the end of each major section in this book, a specialentrepreneurship module has been included that looks atthe topics presented in that section from anentrepreneurial perspective.E. Managing in an E-Business World.1. E-business(electronic business)—a comprehensive termdescribing the way an organization does its work by usingelectronic (Internet-based) linkages with key constituencies inorder to efficiently and effectively achieve its goals.2. While critics have questioned the viability of Internet-basedcompanies (dot-coms) after the high-tech implosion in 2000 and2001, e-business is here for the long-run.3. E-commerce(electronic commerce) is any form of businessexchange or transaction in which the parties interactelectronically.4. Categories of e-business involvement (see Exhibit2.8):a. E-business enhanced organization—uses the Internet toenhance (not to replace) their traditional ways of doingbusiness.b. E-business enabled organization—Internet enablesorganizational members to do with work moreefficiently and effectively.F. c. Total e-business organization—whole existence is madepossible by and revolves around the Internet. Knowledge Managementand Learning Organizations.1.Change takes place at an unprecedented rate.anizations to be successful need to be learning organizations—ones that have developed the capacity to continuously learn, adapt,and change. (Exhibit2.9demonstrates the differences between alearning organization and a traditional organization.)Knowledge management involves cultivating a learning culture where organizational members systematically gather knowledge and share itwith others in the organization so as to achieve better performance.G. Quality Management.1. Total quality management is a philosophy of management thatis driven by customer needs and expectations and focuses oncontinual improvement in work processes. (See Exhibit2.10.)2. TQM was inspired by a small group of quality experts, of whomW. Edwards Deming was one of the chief proponents.3. TQM represents a counterpoint to earlier management theoristswho believed that low costs were the only road to increasedproductivity.4. The objective of TQM is to create an organization committed tocontinuous improvement.1. What kind of workplace would Henri Fayol create? How about Mary ParkerFollett? How about Frederick Taylor?Fayol would probably create a workplace in which managers could perform the managerial functions of planning, organizing, coordinating, commanding, and controlling. In addition, he would have a workplace in which his 14 management principles would be followed.Follett would undoubtedly create a workplace in which managers and workers viewed themselves as partners, as part of a common group. In such a workplace, managers would rely more on their expertise and knowledge to lead subordinates, rather than the formal authority of their position. Empowerment and teamwork would be hallmarks of a Follett-style workplace.Taylor would create a workplace in which managers and workers scientifically analyzed and determined the “one best way” to accomplish each job. He would put the right person on the job with the correct tools and equipment, would have the worker follow instructions exactly, and would motivate the worker with an economic incentive of a significantly higher daily wage. Consistent productivity improvements would be his goal in the workplace.2. Can a mathematical (quantitative) technique help a manager solve a “people”problem such as how to motivate employees or how to distribute work equitably?Explain.Although we need to recognize that some “people” problems can’t be expressed quantitatively, mathematical techniques could help a manager solve these problems. Statistical methods, information models, computer simulations, and other quantitative techniques are designed to help managers make better decisions. As such, they could help a manager address people problems being encountered in the workplace.3. Is globalization an issue for e-businesses? Explain.Management, in a traditional, and especially in an e-business world, is no longer constrained by national borders. The world is definitely become a global village, so globalization is an issue! Anywhere business constituencies has Internet-capable, an e-business transaction can take place, regardless of geographic location and proximity.4. “Entrepreneurship is only for small, start-u p businesses.” Do you agree ordisagree with this statement? Explain.Entrepreneurship by definition is the process whereby an individual or a group of individuals uses organized efforts and means to pursue opportunities to create value and grow by fulfilling wants and needs through innovation and uniqueness, no matter what resources are currently controlled. It involves the discovery of opportunities and resources to exploit them. So, yes, entrepreneurship is for small, start-up businesses, but it is also important for larger organizations.Organizations, regardless of size, must be innovative and flexible, which is closely related to entrepreneurship.5. How do societal trends influence the practice of management? What are theimplications for someone studying management?Societal trends greatly influence the practice of management. For example, the change in society’s emphasis on the value of diversity has profound implications for management. The U.S. society went from an emphasis on assimilation (“melting pot”) of differences in the early 1980’s to a celebration and recognition of differences today. Therefore, the way that organizations are structured, motivation programs, and other work-related processes must be aligned with the needs of a diverse and pluralistic workforce. This is a global issue as other countries such as Japan and Australia are experiencing similar diversity trends.6.Would you feel more comfortable in a learning organization or in a traditionalorganization? Why?The answers for these questions will vary according to each student. However, the important part of the answer is how well each student explains or supports his/her preference.The task for students to accomplish with this activity is to do some preliminary work on creating a knowledge base for your particular institution, such that differentorganizational members could utilize the information to increase efficiency and effectiveness. Form groups of three to four students for discussion.One suggestion would be for each group to develop a knowledge “list” for different campus offices or functions. For instance, have one group concentrate on the Registrar’s Office, another with the Financial Aid Office, another with the Student Union, the Alumni Office, etc. The groups should identify what tasks the office performs for students and other institutional offices, what common activities the office performs that other offices might also be performing, and what unique tasks the office performs. After discussing these issues, compile an outline of major areas of important knowledge the organization has as a whole.A couple of hints that might help get the activity started are: using technology in classrooms, keeping in touch with former students and/or alumni.。

CUSTOMER RELATIONSHIP MANAGEMENTAs. univ. drd. Mihaela Cornelia PrejmereanLect. univ. dr. Alina Mihaela DimaAcademy of Economic Studies, BucharestAbstract: After 17 years of economical and market development, Romanian companies face a new challenge: the tough competition from the European Union and the battle for the customers. The Romanian enterprises will have to learn not only how to attract customers, but also how to keep them. Marketing programs include now aspects regarding customer orientation, relationship management, loyalty and quality. In this paper, we will follow the main aspects, characteristics, dimensions and processes of Customer Relationship Management, and we will analyze the challenges that the local companies will have to face. Examples from the financial service sector will round the actual situation of the implementation of the CRM rules and principles in Romania.Keywords: marketing information system; customer relationship management; business asset, customer acquisition; customer retention.1. IntroductionIn the last decade, the majority of the companies were preoccupied with production, recession, mergers, new technologies and business regulation. Romania’s accession in the European Union will bring man y advantages for further development, together with membership in a Common Market with common policies on product regulation, and freedom of movement for all the four factors of production (goods, services, capital and labor). This means that Romanian companies will compete with other companies from the EU directly in their home market. European companies are more flexible and mobile and will put a high pressure on the local companies in order to produce better products, launch better offers and services and orientate more towards their customers. High revenue equals important customer is a classic rule when the company organises its customer policy. “An imp ortant customer brings a gross amount of money for our enterprise” has become a reflex for many compa nies abroad and perhaps in Romania, too. But is this always true, or do we need more information than a simple figure reported at the end of the year?2. Marketing information systemA winning company is more productive in acquiring and retaining customers, to expand its clientele (Kotler, 2003). This company improves the value of the customers by reducing the rate of defection, increasing the longevity of customer Management & marketing relationship, making low-profit customers more profitable or terminating them etc. Gathering information on the actual or potential marketplace not only allows the organisation to monitor trends and issues concerning its current customers, but also helps it identify and profile potential customers and new markets, to keep track of its competition, their strategies, tactics and future plans (Brassington and Pettitt,2003). In order to collect and organize a high quantity of diverse information, the enterprises started to build marketing information systems. There are, mainly, a set of procedures and methods by which pertinent, timely and accurate information is continually gathered, sorted, analysed, evaluated, stored and distributed for the use of marketing decision makers (Zikmund and D´Amico,1993). The marketing information system includes data from external and internal sources (sales records, customer records, marketing communications, and sales force information). The focus on the customer and the integration of the marketing function helps the company to create customer databases with comprehensive information about individual customers or prospects.3. Customer relationship managementCustomer Relationship Management has been around for the last 30 years, but it became very important when companies changed their attitude towards marketing function. Nowadays, the cross-functional approach to marketing requires an organizational culture and climate that encourages collaboration and cooperation between departments. People within the business must understand their role in serving customers, internal or external one. CRM builds on the principles of relationship marketing and recognizes that customers are a business asset and not simply a commercial audience, implies the structuring of the company from functions to processes, information are used proactively rather than reactively and develops the ne-to-one marketing approaches (Payne, 2006).When defining CRM, we must first explain the difference between customer acquisition and customer retention. The two concepts have different drivers. Attracting customers has become very difficult these days, when people are harder to please. They are smarter, price conscious and sensitive, more demanding, less forgiving, and they are approached by many more competitors with equally good or better offers (Kotler,2003). Companies focus more on sales analysis, customer segmentation,advertising, merchandising and campaign management. The more difficult part is keeping the customers. According to Bruhn, a customer is satisfied when the comparison between offer and consumption fulfils his/her expectations, after he/she accepts the company, trusts it and exhibits a positive attitude towards it, becomes loyal to that company. In this situation, the customer talks favourably about the company and about its products, pays less attention to competing brands and is less sensitive to price, which turns transactions into routine (Bruhn, 1999). With customer retention, the company must pay attention to service satisfaction and trust in Customer relationship management the organization and its staff. Some companies believe that if a customer complaints the problem will be solved, but 96% of unsatisfied customers don’t complain and go to another company. Therefore, Customer Relationship Management is the mechanism for retaining customers (Russell-Jones, 2003). Mainly CRM allows the company to understand who their customer is, isolate the best customer (those with whom you desire to have long-standing relationships), create relationships stretching over time and involving multi-interactions, manage the relationship to mutual advantage, seek to acquire more of those “best” customers. Inputs like marketing strategy, customer base, products, and regulation, competitors and staff skills are synthesized in a CRM programme which creates outputs as customer service, customer retention, higher share of wallet, customer referral, more predictable revenues streams, improved profitability, lower costs and better compliance (Russell-Jones, 2003).4. Developing a strategy in customer relationship managementBecause CRM is a cross-functional activity and large companies have thousands and millions of customers, the need for a strategic framework is very high. The dimensions of a CRM strategy are mainly focused on defining the following topics:- object of the customer relationship management – the company has three options: focusing on the company itself, on a brand or on the distributor;- target segment – the company usually sets priorities between different customer segments, it defines strategic customers based on the portfolio analyses, factors as revenue, length of the relationship, income, collaboration with the customer. These are its analysis criteria;- ways of retaining the customers –customers’ satisfaction is in the centre of all the decisions, but customers retention can also become a central issue through contractual clauses, such as service, leasing and warranty;- choosing the instruments of CRM –the company combines the ins truments of the 4P´s with focus on the customer;- intensity and timing of the CRM decisions – show when and how should the company introduce different instruments; programmes can last from one day to one week, or from three month to two years;- cooperation within the CRM programme –sometimes the company must cooperate with other partners from the distribution channel, mainly between producer and wholesaler and retail.5. Instruments of customer relationship managementThe communication policy plays an important role in the instruments mix. It follows two objectives: first, to build a permanent dialogue with the customer in order to stabilize or change its expectations, and second, to counteract influences after consumption. The main CRM instruments within the communication policy are: Direct-Mail is material distributed through the postal service to the recipients’ home or business address to promote a product or service. In CRM the mailed issue can vary from a simple letter to a catalogue, and its sending will always occur at a particularmoment in customer’s life (birthday, invitation for an event). It must incorporate sticky gadgets to increase their chances of being opened and read; Newsletters are distributed to customers for free and contain information about new products, offers for special events and others; Fidelity cards (store cards) are an important tool in gathering information about customer behaviour. By accumulating points of fidelity, the customer can benefit from different special offers; Clients club designates a concept which has grown in parallel with the fidelity cards. Its main forms are VIP-Club, Fan-Club, Product-Interest-Club, and Lifestyle-Club. The club represents an opportunity for the company to make offers in accordance with the social status, acceptance, prestige and expectations of its customers;Telemarketing allows companies to undertake marketing research and is highly measurable and accountable; the number of positive and negative responses are easily recorded and monitored. It provides for interaction, is flexible and permits immediate feed-back. Online-marketing includes many forms such as on-line advertising, on-line sales promotions, on-line direct marketing, on-line public relations, one-line personal selling. The medium used is the internet and the main instrument is the email. Virtual promotions are cheaper than hard copy versions, but the challenge is to drive traffic to your company’s Web site. Event-marketing takes place in three main areas: the product (here, it focuses on increasing sales), the corporation (for developing a corporate body) and the community (to make a difference in the life of the local community) (Bruhn, 1999& Fill, 2002).The price policy can be thought about in various ways when buildinga CRM programme: discounts for special customers, underselling or matching competitors, loyalty refunds, bundling items together and offering overall prices. Although price is not a measure of inherent value received, it is often used by customers as a benchmark, ignoring any other features or differences.Key factors in the product policy are the product itself, with quality, design, technical features, packaging and service management which includes lifelong warranty, price warranty or a customer telephone line. An active management in the distribution policy can focus on the customer or on the distribution channel. The producer evaluates the activity of the distribution partner and Customer relationship management intervenes when needed. The focus on the customers is realised througha Key Account Management which develops programmes for special customers.6. Customer relationship management in financial servicesFinancial services differ from many other industries. This can be seen particularly in Romania, where 40 commercial banks fight for a population of 21 million citizens. They cover the whole spectrum of customers from individuals to partnerships, institutions, corporations and governments. As a result, it can be very difficult to focus on single markets. Customers are often in two positions: they may have a deposit and savings accounts, but also loans and overdrafts. They are very service focused, they sell only intangibles. Financial services require processing billions of transactions worldwide and they are one of the heaviest regulated industries in the world (Rusell-Jones, 2003).The customers in the financial services are better informed, are switching channels, and seem to be more demanding of service, and used to change. The market is also highly competitive and new entrants are coming with diverse products and approaches.The industry of financial services in Romania has a very high potential and registers every year high growth rates. Till now, the location in a major city of the country with a population around 300.000 people was an advantage of the business and a success factor. Now the battlefield has moved in the small towns. The competition became tougher; banks began to develop and to introduce new products. Some experts say that a weakness of the banking sector is market segmentation. There is lots of information about customers, but it seems that banks prefer to focus on clients with large savings accounts. The main banks in Romania, as BRD, BCR, ING, and HVB-Tiriac announced for the year 2005 an increasein the number of the private banking clients. These are mainly customers with accounts between 50.000 and 100.000 Euros, they benefit of private consultancy, special interest rates, commissions, and special insurances. Customers have also a word to say about their bank. A market study madeby Deadalus Consulting revealed that the customer profile for banking services is: person aged between 45-55 years, with higher or middle education. The most utilized service is the bank card for salaries payment (32,6%). Next, savings accounts (10,2%), credits for personal needs (11,1%), credits for buying electronics (9,2%) and auto leasing. The best grades were received by Raiffeisen Bank (8,83), BCR (8,58) and BRD Societe Generale (8,57). A customer’s criteria when choosing a bank are the trust in the bank, the environment in the branch, the quality of the staff, the advice they receive, the best interest rate they can receive, the information about the credit costs, and the conditions for obtaining a credit. A successful service provided by the majority of the banks is internet banking. It allows clients to save time and money, without going to the bank, 24 of 24 from inside or abroad. The access is free of charge or very cheap, and includes all kinds of activities from money transfer, payment orders, currency exchange, payment of current bills, external payments etc. The rate of penetration is still low, ranking between 10% and 30% of the customers in one middle bank.7. ConclusionsRomanian companies must focus in the future on the Customer Relationship Management and try to turn a “susceptible” client into a “partner”, to transform people who once needed their product/service, or occasional business partners into supporters and advocates and, eventually, into loyal partners that “sell” on the behalf of the company. Companies must create a permanent dialogue with their customers, and fight for them, because the clientele is not given for free. Customers that were price sensitive show now a higher interest in quality, service and behaviour of staff, and a company which concentrated on a price strategy should check how prepared its rivals are for a competition in the aforementioned fields. Customer Relationship Management increases its flexibility and adaptability to the market, in a world of capricious clients.客户关系管理这是一份来自布加勒斯特（罗马尼亚首都）经济学院的研究：摘要：经过17年市场经济的发展，罗马尼亚的公司面临着一个新的挑战：来自欧盟的激烈竞争和抢夺消费者的大战。