July/September 2008
management
today
Portraits of Five Hedge Fund Fraud Cases
in this issue:
The Ethics of Marketing in Islamic & Christian Communities
Glass Ceilings,
Glass Cliffs or
New Worlds?
Understanding & Prfitably Managing Customer Loyalty
2
Portraits of Five Hedge Fund Fraud Cases
18
Understanding the Objectives of Islamic Banking
53
Strategically Thinking About the Subject of Strategy
70
What Do Strategists Mean When They Talk About Risk?
72
Tax Evasion & Avoidance Typologies
82
Fraud & Money Laundering
94
Maximizing Shareholder - Value
114
Work System Design to Improve Economic Performance of the Firm
134
Supporting the Creation of Business Re-Enginerring Ideas
150
The Ethics of Marketing in Islamic & Christian Communities
169
Strategic Management & Accounting Processes: Acknowledging Gender
183
Glass Ceilings, Glass Cliffs or New Worlds
204
What HR Can Do To Give Change a Chance
213
Index
Understanding and profitably
managing customer loyalty
Robert Gee, Graham Coates and Mike Nicholson
Durham University, Durham, UK
Abstract
Purpose – The purpose of the paper is to draw together the salient issues surrounding customer
loyalty and customer relationship management (CRM) into a single coherent discussion. Various
schools of academic thought are examined. The paper concludes with practical implications for
managers.
Design/methodology/approach – The literature surrounding customer loyalty, customer
satisfaction, effective CRM and managing loyalty in a profitable manner are all reviewed. The paper
allows managers to consider a wide range of material in the context of their business.
Findings – The need for businesses to retain customers is an important issue in today’s global
marketplace. To retain customers, a business must forge loyal and long-term relationships with
profitable customers. Reasons why customers leave a company are discussed, and preventative
strategies are considered. Loyalty schemes are considered and their relative merits examined.
Practical implic