This document discusses the concept of systems thinking and its application in solving organizational problems. It focuses on the use of incentives in increasing the customer base of ICICI Bank.
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Running head: SYSTEMS THINKING SYSTEMS THINKING Name of the Student Name of the Organization Author Note
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1SYSTEMS THINKING Part A Recently working in the ICICI bank of India, it has been noticed that the bank has been struggling a lot with customer loss to all the competitors. There is a sudden need for the problem to be overcome. System thinking is defined as an approach which is used for solving a number of problems which are associated with the organization by properly viewing all the problems as several system parts in total (Young & Leveson, 2013). The bank brought an idea of introducing an incentive system for the employees of the bank so that the bank can be able to bring in new customers. Having this aim in mind. The plan of incentive basically represents a significant step and towards the appropriate direction. It is thought to be a way which will be effective for motivating all the employees of the bank (Beuren, Ferreira & Miguel, 2013). All the employees after receiving the incentive will definitely be able to operate more as business partners and will be responsible for tying personal reward towards the bank’s financial success. Incentives which are monetary are very much motivating and used for rewarding the employees for their performance. Incentives are also used for rewarding the productivity of the employees by providing extra money or bonuses. Hence, a program of providing incentive is basically a formal scheme for promoting and encouraging a specific behavior by a particular group of people during a time interval which will help in increasing the efficiency as well as the bank’s productivity. These incentives includes all profit sharing plans, insurance of life or bonuses. It is to be essentially noticed that any kind of change which is made to the arrangements of payments will not be so much effective if they are not coupled with the changes accompanied to the broader organization system. Alternative way is calling out the leadership central role. An effective leadership is basically considered to be a key where the leaders drive the culture. Using the financial incentives employees are motivated to a great extent and hence the productivity of the
2SYSTEMS THINKING bank also increases a lot. The performance management and the management of frameworks which are mainly cultural are the most effective one when they are aligned properly. Any kind of misalignment may lead to a great confusion if the outcomes are inconsistent with respect to the organization’s true intentions. Hence, these recommendations are holistic and are not simply directed to the remuneration which is in isolation. The rich picture tool has been utilized in this case for showing and describing the situation where the issue is actually lying (Cristancho et al., 2015). A rich picture is basically a way of acknowledging and exploring any particular situation and provides an expression with the help of diagrams in creating a mental model. The rich picture describes how the plan of incentive has been used for increasing the number of customers of the bank (Berg, 2014). System thinking is seen to be responsible for increasing the choice range which are made available for finding a particular solution of any particular problem within any organization. This is done by broadening the people’s thoughts which will further help in problem articulation in several ways. It always people for making a number of informed choices and also used for telling stories which basically describes the system’s working. The system thinking tools are considered to be as the effective vehicles used for describing, communicating and finding the system’s understanding in specific groups.
3SYSTEMS THINKING Rich picture
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4SYSTEMS THINKING References Beuren, F. H., Ferreira, M. G. G., & Miguel, P. A. C. (2013). Product-service systems: a literature review on integrated products and services.Journal of cleaner production,47, 222-231. Berg, T. (2014).Understanding iconography: a method to allow rich picture interpretation to improve(Doctoral dissertation, Heriot-Watt University). Cristancho, S., Bidinosti, S., Lingard, L., Novick, R., Ott, M., & Forbes, T. (2015). Seeing in different ways: introducing “rich pictures” in the study of expert judgment.Qualitative health research,25(5), 713-725. Young, W., & Leveson, N. (2013, December). Systems thinking for safety and security. InProceedings of the 29th Annual Computer Security Applications Conference(pp. 1-8). ACM.