Total Quality Management for OCBC Bank Singapore

This report discusses the Total Quality Management principles implemented by OCBC Bank Singapore to improve their banking and financial services. The report covers action plans taken to increase customer satisfaction, employee involvement, and more.

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Topic- Total quality management
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Introduction
Total quality management is the tool to improve the existing quality of the business by
using the new methods and mean to deliver the high quality services and products to clients. In
this report, OCBC Bank Singapore has been taken into consideration. It is over sea Chinese
Banking Corporation, listed in Singapore which is consistently endeavouring towards providing
banking and financial services to clients.
The OCBC Bank has been following several total quality management principles to increase its
overall outcomes and effectiveness of services.
A focus of customers- This TQM principle focuses on increasing the client’s satisfaction by
offering best quality banking and financial services to clients.
 The process team of OCBC Bank needs to focuses on identifying the key issues for
improving the loan clearance process. The first action plan would be to implement
proper cyber computing system which could ease the documentation process and get
the learn clearance process within just half an hour.
 Another action plan would be to arrange proper support chat staff. They will help clients
to understand the concern of the business (Valmohammadi, & Roshanzamir,
2015).
Top management support and direction- This TQM principle focuses on increasing the overall
involvement of the management in the work process system of bank (Madanat, & Khasawneh,
2017).
 It is considered that the first action plan would be to conduct the meeting on weakly
basis. It is analysed that management team need to analysis all the internal and
external factors of business and with the proper meeting program. Top management
needs to take into account all the busienss decisions by undertaking the resolution and
meeting agenda program.

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 In addition to this, Top management could also direct their employee’s through the daily
agenda program. It could be communicated to all the employees through the intranet
program. These both action plans would help OCBC bank to increase the quality of its
work program.
Employee involvement- The employee involvement focuses on the participation of employees
in the business decisions. Employees have the core knowledge of the busienss program. This
principle could be implemented in the value process of OCBC by following two action plans.
 First is related to allowing employees to attend the general meeting of company. It will
allow them to put their matters in front of the manager.
 The second action plan is related to establishment of the grievance portal which will
increase the overall outcomes of the business. It will allow organization to mitigate the
employee’s issues and improve the existing performance (Dubey, & Gunasekaran,
(2015).
Reliance on standards and measures- It is the process to make the organizational culture more
clients oriented. However, this principle of TQM could be installed in the business of OCBC bank
by using the below give action plan (Syduzzaman, et al. 2016).
 OCBC needs to collect the data from clients in market through the primary sources such
as observation, interview and direct contact. After that, all the standards and measures
would be customized as per the clients need and demand.
 The management of OCBC could also ease the process system to put Reliance on
standards and measures for clients. It will make easy for the clients to raise funds,
deposing money in the bank account of company (Lee, 2017).
Managing supplier quality – The main objective of TQM is to increasing the quality of the
business functions of organization.

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 In first action plan of OCBC, it could hire experts’ staff in its all front desk who could
politely handle the employees and their grievances. These experts’ staffs should have
effective communication intents.
 Another action plan of OCBC would be to develop online Application system which could
be used by clients as their pocket bank. It will allow them to directly manage their
accounts on the basis of their own instructions and orders. It will increase the learning
and also ease the banking process for clients in market (Gordon & Thornton,
2014).

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Conclusion
After assessing all the information on the Total quality management, it could be inferred
that each and every company should follow the principles of TQM to increase the existing
quality of the services offered to clients. Ideally, quality of the services of organization is highly
based on the performance of employees. Therefore, all the employees should be adhered by
the principles of TQM. The OCBC Bank could integrate these TQM principles to deliver the
better banking services to clients.

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References
Dubey, R., & Gunasekaran, A. (2015). Exploring soft TQM dimensions and
their impact on firm performance: some exploratory empirical
results. International Journal of Production Research, 53(2), 371-382.
Gordon, T., & Thornton, G. (2014). Total Quality Management/Continuous
Improvement. BPICS CONTROL, 20, 27-27.
Lee, C. Y. (2017). An exploratory study of tqm in Vietnam: A case of small
manufacturers. ZENITH International Journal of Business Economics &
Management Research, 7(5), 1-16.
Madanat, H. G., & Khasawneh, A. S. (2017). Impact of Total Quality Management
Implementation on Effectiveness of Human Resource Management in the Jordanian
Banking Sector from Employees' Perspective. Academy of Strategic Management
Journal.
Syduzzaman, M., Islam, M. M., Habib, M. A., & Yeasmin, D. (2016). Effects of Implementing
TQM Principles in the Apparel Manufacturing Industry: Case Study on a Bangladeshi
Clothing Factory. Science and Technology, 6(3), 68-75.
Valmohammadi, C., & Roshanzamir, S. (2015). The guidelines of
improvement: Relations among organizational culture, TQM and
performance. International Journal of Production Economics, 164, 167-
178.