Conclusion Of Mercantile Bank

With the help of conclusions described in the last chapter, recommendations are developed and designed to present personal and independent point of view for the betterment and development of the organization. Recommendations are integral part of report and become imperative for internship report. Findings and Recommendations for MCB are as follows which will help the reader to understand all the aspects of the bank.

The bank sells service in the industrial, commercial and real estates. It also offer services in the retail banking and manage treasury for its clients. The services offered by the bank are a commodity because the clients sort these services to satisfy a need that they have.

A banker’s name is Amber Behrendt, she have been in banking for 18 years, she is began his banking career as a part time teller and have worked her way up through the branches doing all jobs within the retail branch (teller, lead teller, customer service, leading officer, assistant manager and eventually manager). An individual seeking to be a bank manager does not only have to be business savvy but also personable. They work in customers coming back. A manager must also be someone who sees themselves as part of a team. Although she is in charge of an office, it’s the team she”coach” that really has the greatest impact on the banks success. She said the financial services include: personal checking and saving accounts, business checking and

Banks that can offer a multitude of consumer products and acquire customers through branches will continue to own customer acquisition and product distribution advantage over the coming years

When determining the bank’s future over the next five years, one must analyze what the bank needs to focus on in order to achieve the individual goals. The bank’s mission is to work towards offering its customers the one-stop financial shop concept delivered with an unexpected, unsurpassed level of customer service. In order to achieve this mission, FirstBank must be able to continue to strive to be better and never settle.

The Bank of America has tackled major issues facing the banking industry by employing its simple customer-focused approach. The corporation’s strategic method to effectively identify and provide a range of financial products and services through direct and indirect customer feedback have been profitable. Nevertheless, the bank’s resource-based view has also impacted the basis of the cooperation’s competitive advantage. This resource-based view lies primarily with the application of valuable tangible or intangible resources. These resources are critical to accomplishing consistent alignment of the cooperation’s MVGO’s and utilized throughout various sectors of the corporation including the human resources, financial, and technological

Discuss the strategies that Mountain Bank should implement to achieve a competitive advantage in the marketplace.

The global financial crisis epitomises the significance that trust and confidence plays in financial markets. Although the financial crisis was over five years ago banks are still at the bottom of the trust league table, this is evidence supporting that the loss of trust is not an issue that can be rectified with a reform or new policy. (Reference 1)Radical changes in banking culture are necessary to start to rebuild the customer-banker relationship that there once was for confidence to be restored, making the relationship relational as a pose to transactional.

In order for Blom Bank to stay the leading Bank in Lebanon, it should improve and sustain its competitive advantage. To do so, Blom Bank is advised to use VRIO business analysis and Resource Based View(RBV) by adding value to its resources, making its resources rare, making its resources hard to imitate and creating a good organizational structure (Barney, 1997; Oliver, 1997). First, Blom may add more value to its service, by providing a better customer service, giving customers what they want at the least cost possible which will increase the value of the customer’s experience. Second, Blom may want to achieve rareness; in order to do so, Blom Bank might want to develop new products and services that other banks haven’t developed yet. Making Blom’s service and products rare and sought after. Third, Blom Bank might want to make its resources hard to imitate, resources that are intangible are well-known to be hard to imitate (Grant, 1991 as cited by Powell, 2001); thus, Blom Bank must work on creating a better social complexity (intangible resource). According to Barney (1997), some socially complex resources are reputation, trust, teamwork, and culture. Thus, Blom Bank should sustain its well-known reputation, implant as much trust in customers, work as a team and sustain its culture. Finally, Barney suggests having a good organizational culture as the 4th pillar to sustaining competitive advantage using the VRIO business analysis and RBV. Organizational culture is the basic functioning and the most important unit of any firm. Blom Bank should improve its formal reporting structure, management control systems, and compensation policies. By improving its organizational structure, Blom Bank will guarantee an increase in employee productivity, better management, and a better whistleblowing system. If Blom Bank goes after

One of the most important products and revenue generating product is a credit card. Bank of Baroda doesn’t provide any business credit cards. The bank is losing a lot of revenue when it comes to credit cards. The bank has the capability to quickly capture market share as most people in the UAE are Indians by nationality and they generally prefer a bank of Indian origin for their banking and credit purposes. Business credit cards of various banks has the following features:

“Bank fees. Few words evoke consumer vitriol faster. Dissatisfaction with escalating checking and ancillary fees for banking services is making competition for customer loyalty in retail banking especially high. Research shows that great service can play a key role in customer retention throughout these changes in fee structures” (Logan, 2012). The financial industry is an integral part of the country’s financial system. Banking centers provides consumers with the resources to be able to secure, save, and manage their balances. The bottom line is that banks provide products that are analogous to its competitors; however, the differentiation that denotes the industry leaders and lags in this industry is method used for the service is being rendered to consumers. Therefore, we will discuss and evaluate the operations management at Commerce Bank. We will start by discussing the reasons why Commerce may no longer be fulfilling its operational potential for finding innovative means for surpassing organization objectives. The paper will outline the common constraints and common goals to improve the business model. Furthermore, the problems and issues within the customer relationship initiative and prospective solutions to these issues will be reviewed. We will identify the existing problems through data and propose recommendations.

Menton Bank had historically focused on corporate businesses, an its share of the retail consumer banking business ha declined in the face of a aggressive competition from other financial institutions. Menton Bank’s new focus is on customer service, trying developing a stronger consumer orientation at the retail level. The goal is to seize the initiative in marketing the ever increasing array of financial services now available to retail customers (Lovelock, Wirtz, pg. 521)

In making decisions concerning a bank 's strategy, the institution must take into account several initial areas that may formulate a restraint in implementation. They are the economic and cultural environment, the competitive banking atmosphere (extremely competitive), the marketing strategy to be implemented, and the pricing/promotion that goes into the marketing function. (McMahon, 1986).

Leaders Bank in Illinois started what came to be known as “Creating A Great Place to Work” by adopting what is nowadays known as “People Model” this case study will look at how the bank achieved its goal through various policies put in place by its founders. They came up with a framework that has been used as benchmark by other businesses. The study will look at the bank services, their benefits, culture, customer values, policies and significance.

The banking sector occupies a pivotal position in the global economy. it is useful to understand the variety of banks. Typically, the banks can be divided into two categories, one is the local banking and other is the foreign banking.