Service Process Design in Retail Banking Industry
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Added on 2020-03-16
Service Process Design in Retail Banking Industry
Added on 2020-03-16
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Service process design in retail banking industry 1SERVICE PROCESS DESIGN IN A RETAIL BANKING INDUSTRYName:Institution:Course:Tutor:Date:The:
Service process design in retail banking industry 2Table of ContentsExecutive summary.........................................................................................................................3Introduction......................................................................................................................................3The main factors that influence the design of service process within the Retail Banking Industry4Distribution channel.............................................................................................................................5Number of trade-offs............................................................................................................................5Supply chain dynamics.........................................................................................................................6Nature of the Business..........................................................................................................................7Nature of marketplace..........................................................................................................................7Nature of the Product............................................................................................................................8How operational performance objectives may impact proces of making decision associated with process design as well as layouts.....................................................................................................9Demand management...........................................................................................................................9Inventory management.......................................................................................................................10Forecasting...........................................................................................................................................11Effects of organization.......................................................................................................................11Conclusion.....................................................................................................................................12Bibliographies................................................................................................................................14
Service process design in retail banking industry 3Executive summarySeveral factors on retail banking industry have made their operations sluggish despite the efforts by banks to promote the advanced technology. The function of this survey paper is to identify some of the factors that influence the design of service process within the Retail Banking Industry with a bid to develop approaches to salvage the situation of declining operations. The ideas presented in this paper focuses on intellectuals who understand the general public and business policies (Mei Mei et al., 2013, p. 266). Besides, this research work identifies several factors that impose barriers as well as enhancing adoption of the improved banking system. Chief among the factors that influence the service process design in the retail-banking sector comprises of nature of the business, quality of its products, nature of the marketplace, and supply chain dynamics among other factors. The paper also attempts to analyze various factors that affect the choice of targeted and loyal clients in choosing the retail banks. IntroductionIn the past days, the number of nations globally has experienced the financial distress of varying degrees of severity informing service process design in the sector of banking. There are no guarantee forms of technological advancements or the improved system of operations leading to the success of consumer adoption (Dinh & Pickler 2012, p. 219). The issue arises because the acceptance and intention of customers towards the adoption of advance are very crucial aspects of developing marketing and marketing.the successful propagation of various factors to form the service process design in the retail banking industry can be determinable by potential users of adoption of innovation. However, recent developments in technology have made every retail banking sector to focus on delivering their products and services through various electronic
Service process design in retail banking industry 4channels to improve their service process design. Various factors play the essential role in the competitive era of the financial company to develop their service process correctly (Brennan et al., 2011, p. 22). Therefore, the principal focus of this survey document is to discuss the main issues that affect the service process design in a Retail Banking Industry and considering the fiveoperational performance objectives that affect the operation of making decision associating with the process of design and layouts of the retail banking industry. The most visible indicator that can apply to predict banking crises in the service process model is those that relate directly to the soundness of the retail banking system. There is need of every manager of the retail banking system to ensure the banking change their operations from the future to the past to analyze different factors that influence the choice of a client in picking business retail (Chandra Mandal & Bhattacharya 2013, p. 17). The outline of the factors that affect the process of designing services for retail banking industry assists in constructing out some solutions. This research focuses on bringing out these actors, and some extent proposes solutions on how to correct them and in the end develop the ideal operations for retail banking. The main factors that influence the design of service process within the Retail Banking IndustrySeveral factors affect service process design in the retail bank industry. Some of these factors include the nature of the business, quality of the product, number of trade-offs, view of the marketplace, as well as supply chain dynamics among other factors (Dinh & Pickler 2012, p. 207). In most cases, retail bank industry is undergoing dramatic changes in the process of attaining their service design. The changes result because of the ever-changing behaviors of customers, increasing expectations, channel proliferation, disruption, innovative application,
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