Service Design Research Analysis of UBS Group
Yan Liu and Drexel University
Abstract
UBS Group is a worldwide financial advice and solutions provider. One of the main reasons why UBS Group is standing in the leading position in the global financial market is that it embraces the concept of service design and as a result improves its organization’s performance.
UBS Group meets the concept of service design from two sides: worldwide and comprehensive service and customized service. Services provided for customers all over the world makes it possible to allocate its investment in an efficient way. Service provided from consulting to investing gives overall information to its customer. Tailored solutions succeed in meeting customer’s need. Service Design Research Analysis of UBS Group
Introduction of service design:
“Services are acts, deeds, performances, or relationships that produce time, place, form, or psychological utilities for customers” (Roberta S. Russell, 2014, p.194). Besides, there are some other explanation of service design: Service design is all about making the service you deliver useful, usable, efficient, effective and desirable (UK Design Council, 2010); Service design aims to ensure service interfaces are useful, usable and desirable for the client’s point of view and effective, efficient and distinctive from the supplier’s point of view (Birgit Mager, 2009); When you have two coffee shops right next to each other, and each sells
The service experience includes four different aspects that must be understood before analyzing the experience: services setting, the service workers, the service customers, and the service process. The service setting is where the action or service performance unfolds (Fisk et al, 2014, p. 26). The setting can also be what the customer is unable to see (backstage). The service workers are those who work together to create the service for the customers including the seen and unseen. The service customers are the person, group, or organization receiving the service. Finally, the service process is the series of events during the service received (Fisk et al, 2014, p. 26).
Firstly, it is important to gain understanding as to what the service concept is. Johnston et al. (2012) defines a service concept as “a shared and articulated understanding of the nature of the service provided and received, which should capture information about the organising idea, the service provided and the service received – the experience and outcomes”.
There has to be an understanding of the complexity of services before one can begin to determine what challenges face the service industry and the most efficient means of facing those challenges to maintain success. A service organization provides intangible services for a monetary value as perceived by the consumer (Lovelock & Wirtz, 2011). A simple definition is that there are no physical items exchanged in a service transaction as opposed to retail where an item is given in exchange for a predetermined price point. This paper will provide
The most meaningful service-based experience I took part in was helping kids at Upward Bound Asthma Camp. At this camp I volunteered to be a camp counselor, which required me to monitor the young campers, get them involved in many activities, and teach them how to handle their asthma. Many of students came from different backgrounds and many ranged from ages five to twelve. When it came to teaching the young campers how to manage their asthma, it was a significant moment to me because it brought me memories of when I had trouble dealing with my asthma when I was around their age. Reminiscing about my past experience influenced me to get my campers to be knowledgeable about their condition. After explaining the guidelines to the campers, I noticed
The service industry interacts with our lives on a daily basis. Services can be defined as deeds, processes and performances. When considering the differences between products and services, intangibility and the fact that a service cannot be touched, tasted, viewed or tried on are terms often used (McColl-Kennedy & Kiel 2000). Services differ from goods in essentially four ways: (1) intangibility; (2) inseparability; (3) heterogeneity; (4) perishability (Kotler, Brown, Adam, Burton, Armstrong 2006). To deliver a quality service, managers also pay attention to the importance of tangibles that support service delivery as well as service delivery blueprinting. Managers must also accept that service failures occur and be able to
The article " The Heart of Service" reminds us of our constitutional rights as citizens of the United States. We are not obligated to serve, but we do it because it is our hearts desire to help others and contributes to our country.
In Keith Morton’s opinion, there are three paradigms of service: charity, project and social change. He gave us the statistics of an un-comprehensive survey to show us that these three paradigms have impact on each others in terms of service as well as contradictive to each other. After examining his theories, I immediately thought of a famous person that I am sure that all Chinese people are familiar with, Feng Lei. Feng grew up as a poor orphan, he joined the military when he was 19, and then he died because of a tragic car accident at age 22. What happened during his rather short lifetime? What did he do? Who made him famous? In this paper, I would like to take Feng Lei as an example to illustrate the relationship among charity,
Services included on the IPE are reasonable and relevant to the consumer's disability and achieving and employment outcome. The VRC approved the purchase of prescription medication for depression but this service was not listed on the IPE and a service justification case note was not entered. The Consumer had Medicare benefits and it is not clear why, Medicare insurance was not utilized for the consumer to obtain the medication.
The aim of the report is to discuss the development of a service innovation in a hospital care setting.
We recognise that customer needs differ across our key customer groups and business divisions/units, so we need to provide a tailored level of service to them, in line with their unique needs.
Over the years, UOB objective is to be seen and be known as a leader in the field of consumer and commercial banking services in the region. And to do so, they have came up with innovative treasury and investment banking products to provide an absolute solutions to their customers.
Thus the process of a service company in delivering its product is of utmost importance. It is also a critical component in the service blueprint, wherein before establishing the service, the company defines exactly what should be the process of the service product reaching the end customer
The AT&T universal card service is a credit card company has undergone a significant transformation to become a leading credit card company. Universal Card Services (UCS) has invested heavily in improving the quality of service delivered by the Universal card service call center with an overall aim of improving the customer satisfaction. It is in this light that the company has transformed its management and operations in order to focus on customer experience and realized significant improvements (Rosegrant). The achievements of AT&T Universal Card Company has been a result of gradual and strategic planning and goal setting that has driven the company to success. The process of market strategizing started with the development of a sound plan through market research and analysis of the customer needs and demands. The approach was possible through the surveys for both employees and customers and analysis of the findings. The company then structured measures that could improve employee performance and customer experience (Rosegrant). At the panicle of AT&T won the Malcolm Baldridge National Quality Award
Service is simply helping someone for profit or nonprofit. Service is intangible product. It means that there is no physical appearance of the object in the process. “A service is the action of doing something for someone or something. You cannot touch it. You cannot see it. You cannot taste it. You cannot hear it. You cannot feel it. It is largely intangible”. Introduction to Services Marketing - Marketing Teacher. (n.d.). Retrieved November 25, 2014, from http://www.marketingteacher.com/introduction-to-services-marketing/. Marketing is the coordination of 4Ps of product, place, price and promotion. It is the exchanging, communicating, delivering of the product. The marketing manager must show the elements of ideas to the audience to prove that intangible product is worth the purchase. Service is the performance of the product and selling that is Service marketing. Therefore, the new term ‘Quality’ is very important to service businesses.
We have learnt from Servicer Strategy that service means to provide guidance on design, and how to implement them according to the needs of the customer. From the service lifecycle Service Design comes after the service strategy (Annexure A). The service design is not limited to new services, but also to old services which are need to improve the service design which are necessary to maintain the value to customers. The main objective of service design is designing an innovative idea or to change an existing design into a live environment. To change a design or to implement there are several requirements. These requirements are taken from the service portfolios and they are analyzed. There are teams which will indulge in this process and