This report studies the internal environment, such as vision and mission, value system, management structure, brand value and performance of Axis Bank. Axis Bank, the third largest player in the private sector banking industry, caters to a wide clientele of large, mid-sized corporates, rural farmers, and consumers in retail banking. Axis Bank is also actively involved in some CSR activities, such as Axis Bank Foundation (a trust for philanthropic activities), and funding of other NGOs etc. Apart from operations in international domain, the bank consists of 8 wholly owned subsidiaries. Its vision specifies being the preferred financial destination for consumers through efficient technology and empowered employees. The company has 5 core values – namely Customer Centricity, Teamwork, Transparency, Ethics and Ownership.
Promoted in 1993, Axis Bank has 34% of its shares owned by its Promoters. A major 43% is FII owned while the rest 23% is for others. Post the appointment of Ms. Shikha Sharma as the MD and CEO of the company, many changes in the organizational structure have occurred. The initial vertical structure with executives at the top has now changed to an SBU based structure. Axis Bank has successfully initiated Employee Stock Options Scheme to increase employee participation and company growth.
In order to keep the employees motivated as well as learned, Axis Bank collaborates with guest speakers and b-schools to conduct workshops. Also, the culture is very open –
Armstrong’s team used branch-level data from the CSI system as the primary source of research. As a result the concept of “comfortable banking” is directly translated into customers satisfaction during their interaction with tellers in the bank, since almost every criteria in the CSI is measuring representative service behaviors. One thing that the team failed to see is that “comfortable banking” could include a much wider scope of services that customers value therefore consider important to their experience: the products itself and services provided outside the bank for instance. According to Armstrong, “comfortable banking” positioning stands for the branding of the overall experience TD Canada Trust delivers to its clients. The financial products, as the core business of any banks throughout the world, should be counted as part of the service, too.
The best way to get the best insight or impression on an organization is by focusing on its cultural symbols like, practices, facts, vocabulary and more. Huntington Bank shows those three symbolic elements of culture every day. One of the main aspects to keeping the organization safe is the ongoing practices which is “the everyday behavior the
The first three days a company begins their operation the bank will be contacting then so they can open an account. The bank also uses this policy and practice when it comes to managing and developing their employees. The Bank feels that training is extremely important. The bank feels that the training and developing will build up their employees so they are able to perform to their best ability. The bank feels that learning is a win-win situation. The employees succeed in life and also on the job (Shukla-Pandey, 2012).
Barclays envisions itself as a leading transatlantic bank. It aims to generate sustainable value for its shareholders by emerging as one of the biggest consumer, corporate and investment banks catering some 24 million customers in the Personal, Wealth and Business Banking domains. Barclays aims to achieve this through its two business divisions namely Barclays UK and Barclays International. Following are some key strategic aims and objectives of the Group.
Medication assistant treatment also known as (MAT) is when a person has presented with an opioid addiction and have challenges stopping and/or abstaining from opioid use and they are prescribed either Methadone, Suboxone, or Vivitrol. Those who are in support for MAT is that this a better alternative to having individuals addicted to illicit substances. The other side to MAT is that this is way to keep individuals addicted to drugs, legally. I do not support MAT treatment as a form of long term treatment and not as the solution for opioid addiction. Serving as an Addiction Counselor and working with individuals who are addicted to opioids, I encounter many individuals who are or at one point utilized
Banking is an important industry that not only serves people on a personal level, but the United States in a global economy as well. First I will conduct a SWOT analysis for the company I chose which is Bank of America Corporation. Second, I will also identify the company’s internal and external stakeholders. Next, I will describe their wants and needs. And, finally, I will explain how the company is fulfilling those needs.
Organization values direct the viewpoint of an organization in relation to its actions. Culture and beliefs of an organization should be spelt out to show the values, morals and standards it espouses to be distinct and unique in what it stands for. A big multinational financial institution like Wells Fargo is not excluded from the provision of a well laid down and structured mission statement, core values, culture and strategical ethics to tell the world about their visions, goals and what they are capable of achieving. Smaller financial institutions are supposed to look up to bigger firms like Wells Fargo as a role model for its mode of operations, business practices and also seek management advice as they have come a long way to be dominant as a leading financial firm in market capitalization.
Welcome to the service audit report on Bell State Bank and Trust, a locally originated bank that was formerly known as State Bank and Trust of Fargo. This report covers the business model of Bell State Bank and Trust and focuses exclusively on the service marketing aspect of the business. In the beginning of the report I have provided a general overview of the banking industry. This part is important in understanding and comprehending the level of progress or shortcomings of the subject bank. By realizing how fast the banking sector is progressing, it gives us a reference point to analyze the progress of Bell State Bank. I have also discussed the competitive environment of the bank. In this section I realized that Bell State was one of those financial institutions that is hard to classify as it has smaller roots and is close to its origins, however it has a huge asset of $3 Billion that transcends the limits of small regional banks. The firm’s competitive advantages highlight that the firm prides itself in its community ties. It is these ties that have led to the banks local sourcing of employees, philanthropy, past growth and public image.
Deutsche Bank in the Netherlands is an international universal bank made up of several divisions: Asset & Wealth Management, Corporate Banking & Securities, Global Transaction Banking and Private & Business Clients. The focus here is the Global Transaction Banking (GTB) division’s TF/CMC department. Their most important client segments are: Mid Cap and Large Cap. The focus for this marketing plan is on the Mid Cap segment, which consists of clients whose mother company is of Dutch origin, is an international player, and has turnover upwards of EUR 50 million (L. Hedges, personal communication, November 7th, 2014).
In reference to J.P. Morgan Chase their enduring attribute delivers a clear message that they have an illustrious history that has always been there for their clients in good times and in bad times. J.P. Morgan Chase has proven empirically that they never lose sight of the main goal, which is serving the client. They have proven that doing right thing for the client is what they strive for as an organization. This is evident by the way they attempt to create a pleasant experience when entering their branch locations. As shown above, this is an example of a branch of the future layout that will be implemented nation wide to ensure client satisfaction. Another core value J.P. Morgan Chase focuses on is the commitment to integrity, responsibility
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
The financial giant has implemented a customer focused business strategy that is aimed at listening to customers to anticipate their needs in order to provide high-quality service, while managing simultaneously managing internal growth. This strategy execution is evident as JP Morgan Chase utilizes their size and strength to provide resources, exceptional banking products, and the authority need for decision-making in the field at both the global and local
Barclays PLC, formerly known as Barclays Limited Bank implemented financial industries and sustainability which focuses on profit, environment and the people. Barclays PLC focused on environment thru carbon, palm oil and mining. The environment focuses on priorities to target carbon, waste and paper. Barclays made decisions on palm oil depending on the effect to the environment and the employment opportunities to the people. Barclays concentrates on social aspects of the triple bottom-line and sustainability. Barclays focuses on ethical and social principles thru the implementation of respect and value of its workers, integrity and servicing customers. Barclays feels that if the workers are working together they will be able to provide a better service to the customers. Barclays has a variety of programs that benefit the developing companies and the people. The programs include “Building Young Futures” and “Barclays Spaces for Sports.” Barclays integrates retail and banking, investments and wealth management unto their company. Barclays meets the needs of all financial stakeholders and impacts long and short term of the company’s decision making. Lastly, Barclays focuses on wealth management providing clients with wealth advisors to assist clients to manage their accounts, pensions and properties.
With the outstanding performance through the years of UOB, its mission statement has been realistic and it certainly have helped the company to stay on track and to achieve its vision of being a premier bank, as it has eventually became the top leading bank Asia and the Asia Pacific region. The mission has greatly equipped the bank with the right attitude and goals to help achieve its vision. By being committed to providing quality products and excellent customer service, it paved the way for great excellence which is a key factor to become an outstanding bank in comparison with the other competitors.
Many people in India seem to prefer getting Axis Bank Credit cards these days. One of the main reasons behind this might be the amazing benefits and rewards that Axis Bank offers on its credit cards or the availability of a large range of credit cards to choose from based on personal requirements. Likewise, Axis Bank offers a range of payment methods, both online and offline, to its customers to pay their credit card bills. This flexibility makes it easier for customers to clear their credit card dues on time.