Obstacles And Resolution Of Service Related Complications Of Banking Industry With Role Activity Diagram Based Modelling

In the world of business, there are two types of industries: goods and services. As identified by O?Sullivan and Sheffrin, the goods industry consists of companies that provide consumers with tangible products that are either considered necessity or luxury (2007). Such types of companies rely on advertisements to differentiate their product from those similar in the market, and must receive repeat purchases of their product from customers to ensure financial success (Libai, Muller, & Peres, 2009). Meanwhile, service industries must establish a longstanding relationship with their customers to ensure a repurchase of the service (Berry, 1999 as cited in Libai et al, 2009). As time wears on and more service industries

The service sector represents one of the main indicators of the global economy. In fact, there are countless companies involved in this sector that moves millions around the world.

In recent years, service has become the main driving force of a country’s economy growth (Giannakis 2011), either in high-income countries or low & middle-income countries. According to figures from the World Bank in 2012, the service sector accounts for 70% of GDP worldwide (figure 1). Furthermore, the forces from government policies, social change, business trends, development in information technology and internationalization are contributing to the growth of the service markets as well as solidifying the dominant position of service sector in a country’s economy (Baltacioglu et al. 2007).

It is claimed to be a process that creates benefits by facilitating a change in customer, a change in their physical possession, or a change in their intangible assets. Intangible benefits are becoming more important as they are the source of competitive advantage for many service businesses. Both the technical and soft skills of service employees are instrumental in delivering such intangible benefits through increasingly customized and complex services. However, such strategies may not be sustainable as the demand for highly skilled service employees is threatening to outstrip the supply. A service business is the one where the perceived value of offering is determined more in terms of services rendered than the actual product offered. The growth and development of services industry in India has been immense and has largely dominated the traditional primary and secondary industries. The service industry now accounts for more than two third of the India’s economy (Finance Markets, June 2009). Amongst the services sector, the hotel industry is the fastest growing industry and was valued at £511.5 billion 6 in 2008-09. The industry has grown significantly over years both in terms of sales and number of rooms, however recently has been facing challenges both in terms of lower occupancies7 and ARRs 8(Average room rates) (Indian Hospitality Association, 2010). Most consumers, due to the recent

Globalization implies a comprehensive and self-evident process working towards establishing a worldwide aggregative whole of an economic structure into which all economies of the world must integrate today or tomorrow. This includes services which in most economies are the single largest contributor to economic growth and employment. It is widely recognized and deliberated upon that the global importance of service sector in terms of its share in Gross Output has been growing progressively in the economies of the world. The objective of this paper is to

Banking industry and financial institutions nowadays facing rapid change. Customer behaviour, retention, technology, regulatory compliance and competition from existed competitors and quick and innovative upcoming competitors are all in flow.

The fast pace of advances in industrialized locations has increased the need for service, a process that creates benefits by facilitating either a

The commercial banking system dominates Bangladesh's financial sector. Bangladesh Bank is the Central Bank of Bangladesh and the chief regulatory authority in the sector. The banking system is composed of four state-owned commercial banks, five specialized development banks, thirty private commercial Banks and nine foreign commercial banks. The Nobel-prize winning Grameen Bank is a specialized micro-finance institution, which revolutionized the concept of micro-credit and contributed greatly towards poverty reduction and the empowerment of women in Bangladesh.

Financial System is the most important institutional and functional vehicle for economic transformation of any country. Banking sector is reckoned as a hub and barometer of the financial system. As a pillar of the economy, this sector plays a predominant role in the economic development of the country. The geographical pervasiveness of the bank coupled with the range and depth of their services make the system an indispensable

For a bank to have the highest market share among other banks rendering identical services, there is a need for such bank to combine and blend the main factors (bank objectives, banks environmental (or non controllable) variables, the controllable (or management) variables, and bank’s organization and control variables) together into an overall strategy the customers.

When Bangladesh came into existence on the 16th December, 1971, the banking sector of Bangladesh was in a total disarray. With the exception of two local banks incorporated in then East Pakistan, all the bigger local banks became inoperational.. Starting with such a humble  condition, the Banking Sector of Bangladesh has grown to a

In Bangladesh the banking sector is expanding day by day. A number of new banks are also taking preparation to merge in the market. Banking process is becoming faster and easier because internet banking system has already introduced in many banks. Now-a-days in order to keep pace in the competitive field all the banks are trying to come up with the innovative products and services to satisfy their customers. On the other hand customers also need to have an idea about all the process and products of the different bank in order to make a right choice.

After independence, to achieve the govt. objective, all financial institutions carried out the govt. An under developed banking system of Bangladesh, the government banks provide the customer services and care. This situation continued up to 1982. In this time the banks continue their operation with a view to satisfy the economic goal of the government rather than to fulfill the business interest. The Bangladesh Government introduced to reform the ownership program and give permission to start business of private commercial banks (PCBs). The main objective, to allow PCBs, is to enhance the efficiency in the banking sector. Private Banks of Bangladesh is trying to provide their services as like as the service of developed countries but they are obstructed by unskilled employee. After independence, there were seventeen commercial banks in Bangladesh and these banks are nationalized by the government of

share. Banks have to deal with many customers and render various types of services to its customers and if the customers

Internship Report On BANKING BUSINESS ACTIVITIES OF MERCANTILE BANK LIMITED, SATMASJID ROAD BRANCH DHAKA. [pic] Submission Date: 15th November, 2009 Prepared for: Prof. Md. Ashraf Hossain Dean, School Of Business Asian University of Bangladesh Dhanmondi Complex House 36, Road 27 (Old), 16 (New) Dhanmondi R/A, Dhaka-1209 [pic] Prepared By: JOBYDA JESMIN ID: 200521050 Batch: 24th Section: Finance