Nova Southeastern University
H. Wayne Huizenga School of Business & Entrepreneurship
Assignment for Course: OPS 5095, Service Operations Management
Submitted to: Dr. Joseph Chavez
Submitted by: Xiaoyan Jiang N01438073
Date of Submission: 5/5/2013
Title of Assignment: Commerce Bank
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
Student 's Signature: Xiaoyan Jiang
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to Boston (Frei, 2006).
Problem Statement
Commerce Bank was to stay ahead, who wants to leave a clear impression in customer’s minds. It paid more attention on its service, not price. Retailtainment is the mean idea of Commerce Bank.
Analysis
For Commerce Bank, the good relationship between bank and customers is the most important thing, who wants to keep a high customer loyalty, than care about the profitability.
Although Banking industry paid more attention on on-line bank, but for Commerce Bank, who training their employees at University center, and prepare for a good service of face to face. Commerce Bank was focusing on providing the good service for each customer, which is totally different than other competitors. It put a large amount investment into its special service, or “Retailtainment” for customers, therefore it ignored to improve the products. At Commerce Bank’s front door, every customer were served as same as feeling at home. Most of people like it with this special business strategy, on the other hand, some people will complain about the service is too much, there is lack of tellers. There also has a really good system in Commerce Bank, which called “WOW”, and this program also make its profits increased from 1998 to 2001.
For this unique Commerce Bank, its customers are categorized as personalizing and convenience customers. The personalizing customers who very enjoy the good and special service experience,
Furthermore, with a lower cost distribution model, Maybank’s One Solution is sold through kiosks located in tall traffic areas. All channels are orchestrated to optimise customer convenience and to lower the cost to serve and acquire. The objective is to maximise low cost paths example like online, mobile, ATM and agent to open up a kiosk concept to seize and service the mass segment so there’s no need to go to a branch. (Annual Innovation Report of Maybank
Understanding of the fact that digitalization of the bank is inevitable, in order to maintain and improve Sberbank’s current positions in the market, had come several years ago. In the company's development strategy until 2014, the top management of the company identified five priority areas: increasing quality of client-oriented service for all customer categories; centralization and consolidation of internal functions; implementation of the ideology of continuous improvement (SPS – Sberbank Production System); HR management modernization; and developing international
Certification of Authorship: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas, words, either quoted directly or paraphrased. I also certify that this paper was prepared by me especially for this course.
Certification of Authorship: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas, or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for the purpose of this assignment.
From an operational viewpoint, banks are trying to incorporate technology in their product offerings, such as advanced banking and financial-related mobile applications. Innovations are made with the assistance of learnings from customer information and data analysis, which are an essential part of analytical CRM. The strategic view also suggests that banks are building a social presence on online platforms to enhance customer engagement and build a long-term relationships with their customers. The above approaches can clearly be identified when looking at CBA and NAB customer relationship management strategies. With its high-tech ATMS and state-of-the-art Commonwealth mobile app, CBA has full product leadership in the market, enabling them to have a competitive advantage when attracting new prospects or customer retention. On the other hand, NAB use customer intimacy as their core CRM strategy, cutting their product offerings in half and make consumers more centrally focused. They are very responsive in customers' needs and wants; and is the leading brand when it comes to customer
I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledge and disclosed in the paper. I have also cited any sources from which I used data, ideas of words, whether quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledge and disclosed in the paper. I have also cited any sources from which I used data, ideas of words, whether quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
CIBC has focused its core business on retail and business banking, wealth management, and whole sale banking. They have shown a proven track record of providing there customers with financial services and advice through a group upwards of 1100 branches worldwide. Strategies CIBC has portrayed is to continually find new ways to enhance the experience of the client and to stimulate safe revenue growth. CIBC has put emphases on creating deep meaningful relationships with all clients, constantly trying new ways to improve service and sales prospects and to create relationships with new clients while retaining existing clients for a long period of time (CIBC).
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledge and disclosed in the paper. I have also cited any sources from which I used data, ideas of words, whether quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
The growth of the bank’s revenue for its shareholders, is also as a result of the respect the bank has on delivering quality services, respecting the views of everyone involved in their business, having a leadership system that is easily approachable, being
In the current global order, where the world has become a big village, consumers take a global look at the products and services in terms of price, quality, delivery and after-sale services. This trend has sown the seeds of competition in every sector of economy and banking sector is no exception to this event.
In this assignment, we through the service blueprint of the Hang Seng Bank, we find out some strengths and weaknesses. Besides that, we also find out the customer benefits from Hang Seng