SBM4203 - Management Information System Report
Added on 2020-03-04
8 Pages1641 Words82 Views
Running head: Management Information System1Management Information SystemName Institution Affiliate
Management Information System 2Management information systemIntroductionBanking and insurance companies are very competitive service industries organizations; this is where changes in the market occasionally happen as it occurs in the world. The bank organization of which I have been a client for several years is having a series of predicaments such as its rise of customer complaints due to the poor services that have greatly increased and downfall in the market shares due to continuous losing events. It is one of the oldest banking industries in Australia and has been able to survive in the service industry till the recent times; it has been overwhelmed by occasional current change occurring in the economic world(Menor & Roth, 2008).The organization poor performance indicatorsThe main cause of the poor performance is due to the poor and unresponsive managementplanning and poor customer relation and satisfaction. The most evident results reveal that poor management and lack of customer satisfaction are continuous customer complaints without changes, mismanagement of funds and resources thus leading to withdrawals of investors due to fear of loss. Also, the bank has faced some other challenges like losing of its clients to other banks, and a high number of employees lay down due to the shut down of its various branches. The organization management has failed due to various reasons such as poor planning and timeworn methods of management, poor resources management leading to the growth of debts and scarring of the investors due to mismanagement of funds. Poor staff management and coordination of staff or employees, and poor problem-solving techniques that have led to piling up of challenges in operation of the system (Belkhir, 2009).
Management Information System 3The information management within the organizational structure and to the clients also has been a great problem in the organization this has led to poor customer relation and satisfaction. The poor or bad customer relation has been contributed to various causes such as poor marketing strategies that can be able to compete effectively with the competitors thus causing a lot of loss of customers. The banking system has made tremendous changes in the technology advancements; some of the changes are customer ability to access information and services online or even able to control over their accounts via mobile phones. The organization has been too slow or unable to move with the technological advancements: this has given the competitors much more advantage in the marketing of their businesses. Apart from the disability of bank to cope with technology changes the banking system has been unable to move with the current quality of customer expectations thus leading to poor customer satisfaction (Verhoef et al., 2009).Main matters to be consideredAccording to Kumar, (2010) he argues that any organization mainly relies upon a very effective management that one that can have over view of the whole industrial operation of the organization running efficiently. The main cause of the bank problems is through poor leadershipand lack of proper strategic plans that enable the business structure to achieve the best standards of service to the customers. Good strategic plans and policies of an organization are very useful in goal targeting and in giving the direction to an organization on the path to being followed for achieving its objectives. Another problematic requirement that has hindered the poor performance of the organization is the lack of technology improvement as compared to the growth of the organization and change with the economy. Through this dormant growth of
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