Casestudy of banks R us Case Study Example | Topics and Well Written Essays - 1000 words

Casestudy of banks R us - Case speculate ExampleStrategic process directly influences strategical goals hence, it is even more critical to an organizations success. On the other hand, operational carrying out management is defined as the alignment of all employment units / functions of an organization to accomplish core business aims of an organization. Organizational performance is measured against standard rates of effectiveness, productivity, efficiency, regulative compliance and other such(prenominal) indicators. Banks R Us had primarily focused on deposits, withdrawals, and loan facilities by creating brand loyalty. It thrived by providing a low fee as well as a exceedingly personalized realm of banking run. Nonetheless, the low profit margins prevented large-scale growth for the bank. However, with escalated financial competition and emergence of net profit banking, the strategic performance of Banks R Us deteriorated. This is evidenced by a downfall in commercialize place share and operating profits. Thus, new strategic goals and plans are being established in order to produce strategic performance once again. The new strategic goals are two-fold to widen the current node arse by provision of a variety of financial products and to reduce transaction costs for all customer fragments. Strategic goals can be accomplished through successful strategic performance. The success of strategic performance lies entirely upon improvement in operational performance. ... As more and more customers are provided customized services, the inflow of silver to the bank is expected to increase. In addition, the introduction of Internet banking as currently servicing 80% customers is bootless hence, strategic performance is poor and involve improvement in this area too. Moreover, strategic performance needs to be focused on changing the previous image of Banks R Us as a transactions processor of cheques and deposits to a novel image of an excellent financial advisor. The basic contention is to play the bank as attractive as possible to existing customers as well as potential customers. The bank lacks good advertising, good location, and word of mouth as quoted by general manager of operations, Pamela Andrews. Therefore, strategic performance should take the marketing aspect of banking into account. Banks R Us needs to transform the perspective of customers of non being a logical source for products like managed funds, superannuation funds, insurance and financial advice. Operational performance should involve advertising through various channels, employment of financial product specialists and provision of advisory services to build customer confidence and alter the previously held image. Industry data has revealed the existence of two market segments. The first are enkindle in the lowest priced personalized services of standard financial products such as savings, loans and withdrawals. Market statistics suggest that Banks R Us stra tegic performance is appreciable in this segment however, slowly they need to encourage these customers towards Internet banking for reaping even greater profits. The other market segment comprises of customers interested in purchasing all kinds of