Operations and Banking

Published: 2017-12-06 14:45:45
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Efficiencyinoperationswillmakeitpossibleforthemanagementtocomeupwithplansonhowtoensurethattheclientstakeminimumtimepossibleinthequeue. Ifnot, theywillbedissatisfiedwiththesystemsandoperationalinefficiency, thuscausingamassexodusofthedepositorstootherbanksconsideredtobemoreefficientandcustomerfocused. Therefore, ifthebankdoesnotadaptthissystem, itwillbedifficulttomeettheeverchangingdemandsandexpectationsfromtheclients, astrategythatwilleventuallymitigatethepossibilityofremainingcompetitive. Onceaproblemincustomerdissatisfactionhasbeendetermined, itbecomespossibleforthemanagementtocomeupwithviablesolutionsintryingtosolvetheissue. Moreover, theoperatingsystemsofthebankaeconsideredtobethemaincauseofhighlevelsofinefficiency, meaningthatanimmediateremedyshouldbefound.
Theprojectwillbecarriedouttoensurethecreationofself-healingvaluesintheBankthatwillhelpintheestablishmentofoperationalexcellence. Theprojectaimstoensurethereisaprovisionofformaltrainingthatwillincludegivingoutaprecisedefinitionoftheguidelinesthatcanbeusedintheimplementationoftheirplans (Reinartz, Krafft, & Hoyer, 2014). Theprojecthadintentionsinensuringtheiremployeesunderstandwhatisexpectedofthem.
Theprojectwillalsoensurethatcustomerflowinthebankintermsofwaittimeisminimizedonacontinuousbasis. Oncetheframeworkforcustomerflowiscreated, theemployeeshavetobeshownhowtheprocesseswerecarriedoutforthedaywiththehelpofCCTVcamerasandtheirrespectiveareasofimprovement. Moreover, itallowsforoperationstobeperformedtoensurethereisacreationofastandardworkflow (Chen, & Popovich, 2013). Atypicalapplicationofastandardworkismostlyappliedinthisprocess. Standardpracticehastobeestablishedbetweentheprocesses, andinmostcases, theywillbetargetingtheconnectionsexistingbetweenthem. Theresultantoutcomeistheabilityandwillingnesstoworkasateam, thussolvingcomplexissuesthatmaybepresentedbyclients.
Theprojectensurestheabnormalflowsaremaderealistic. Ifanormalflowisrigidlydefined, identifyingabnormalflowisnotadifficulttask. Thus, itwillbeeasytohavecorrectionsmadeonhowsuchabnormalitiescanbepreventedfromoccurringagain. Inaddition, theemployeesarekeptinflowtoensureagoodflowofoperations. Theperformanceoftheemployeeshastobemaintainedandimprovedforthebusinesstohaveacontinuedflowofimprovements. Thisisnottheactualjourneyusedineliminatingwastes. Itismainlyconcernedwithmaintenanceaswellasimprovementstosupportthebusinessingrowing.
DescriptionofCounterMeasuresforImprovement
Differentcountermeasureshavebeenputinplacetoensuretheimprovementoftheoperationofthebankanditsbranches. Lackofproperplanningandcustomerorientedfocussignificantlyaffectedthebankasitscustomerbasereduceddrasticallysinceotherrivalsofferedbetterservices. Acustomerinterestedindoingbusinesswillinmostcasesidentifythisinstitutionasunsafeforinvestments, thusthepossibilityofapplyingforloans.
CapitecBankdevelopedanoperationalmanagementsystempreparedinExcel. Thissystemisexpectedtobeusedinrunningthebusiness, anditprovedtobeadifficulttask. Intheeffortstocounterthisparticularproblem, numerousadvancementswillhavetobedone. Kaizenprojecthasdevelopedamoresophisticatedplatformforthemanagementoperatingsystemasawayofboostingoperationalefficiency (Campbell, 2013). Nevertheless, thenewstandardizedtoolcouldnotguaranteethatthefastgrowingrequirementsofthebusinessaremettothemaximum, giventhatthemanagementisnotmainlyfocusedonemployeeandcustomersatisfaction.
SituationBeforeandAfterKaizenEffect
Humanerrorcausesaflawintheamountofresultsproduced. ThisleavesroomforinconsistenciesduetopoorcustomermanagementandthustheimplementationoftheKaizenproject. ThemanagementoperatingsystemofCapitecBankandHoldingsLimitedconsistedofcheckmeasuresandactionsthatwereusedtoachievetheobjectiveswithinthestructureofoperation. However, someofthesystemsusedcouldnotmanagetocaterforthegrowingnumberofcustomers, leadingtoaslowrateofoperationalefficiencyandtheinabilitytomeetmostoftheirdemands. Additionally, poorcommunicationtothecustomersandmarketingstrategiesmeansthatthebankcouldalwayscomesecondtotheexistingandevenfutureones. Forinstance, havingMicrosoftExcelasthedisplayplaceforthesystemshowsthattheprogramislimitedsincethefastgrowingneedsofthebankcouldnotoperateunderthesystem (Gronroos, 2012). Excelhadahardtimeintheaccommodationofthefilesthebankrequiredtorunthesystem. Manualoperationwastedtimeinsteadofunderstandingthebusinessanddedicatingmoretimetotheclients’ satisfaction. DataupdatinginbeforetheKaizenprojectisnotrealtime, anditishardtocontrolandcheckthespeciallymadeuserviews.
ThenewdisplayplaceforthemanagementoperatingsystemaftertheKaizeneffectallowsforexpansion, thusthepossibilityofimplementingcustomersatisfactioninitiatives. Thesophisticatedplatformgivestimeandspacetothecomplexneedsandrequirementsofthecustomers, thusmeetingtheirexpectations. Thefastgrowingrequirementsofthebankcannowbecompletedwithinthenewplatformmanagementoperatingsystem. CapitecBankcurrentlycansetgoals, haveanoverlookattheperformanceandfacilitatealltimeplans. Sharingoftimelyreportsmakesiteasyforthemanagementtoenactcorrectiveactionsinthebidtoensurethatefficiencyhasbeenmetintheoperations (Winer, 2014). Asaresult, boththeemployeesandeventhemanagementwillbesatisfiedwiththeincrementinthenumberofcustomersandareductiontherateofcomplaints. AftertheKaizeneffect, thebankwillbeinapositiontomakeimprovementsintheviewofthefuturetoensuresuccessandprosperity. Thiswillbedoneinfavorofthestakeholderswhoincludesthecustomers, staff, andtheshareholders.
Standardization
StandardizationofprocessesisthekeytothefuturethrivingoftheCapitecBankandHoldingsLimited. Standardizationreferstotheprocesswheretechnicalstandardsortoolsaredevelopedandimplementedbasedonanaccordtomaximizethefunctionabilityandefficiencyofthesubjectundertheprocess. InthenearfunctioningoftheafterKaizenmanagementoperatingsystem, itstandardizationisaimedataccomplishingalltheobjectivesofCapitecBank. Itistargetedtobeasolutionthatismanageablefromacentralpoint. Thetargetedgoalforthestandardizationistoensurethateverythinghasbeendoneinconformitywiththecustomerexpectations. Itisintendedthatanypieceofinformationinthesystemiscombinedandcumulatedintothestructureofoperations, thusincreasingefficiencyandminimizingthewaitingtimeonthequeue. Thisstandardizationmeasureisaimedatensuringthebusinessmakesthehigh-leveldecisionsbyfacilitationofthemanagementoperatingsystem. Oneofthekeyreasonstothisisthatotherrivalbankshavestandardizedtheiroperationsandhaveupdatedmachinessuchascomputersandefficientoperatingsystems. Oncethemanagementhasensuredthattheservicesareeffective, itbecomespossibleforthecustomerserviceemployeestoincreasetheirspeedastheyprimarilydependonthespeedandefficiencyofthecomputersandcommunicationsystemsthattheyusetodisseminateinformation.
Thestandardsolutionwillalsoplayacrucialroletofacilitatethemakingofimportantdecisionsinthebranchesofthebank. Centralitywillstandardizeittoensuringthemodifiedmanagementoperatingsystemgivesmosthelpfulwaysouttoproblemslikedistributionofresources. Amajorstandardizationeffectwillenabletaskschedulingtobefacedonadaytodaybasiswithoutanydifficulties (Boulding, etal., 2015). ThemaindrivingforcesforthestandardizationprocessaretoensureanimprovedeffectivenessintheoperationalsystemandmakethebranchesoftheCapitecBankHoldingsLimitedefficient. Thiswouldenableagoodservicebayfortheclientsofthebank. Thestandardizationofthemanagementoperatingsystemistoensureallthesegoalsareachievedatthebranchlevel. Thecentralmonitoringandtrackingofallactivitiesanddataupdatesbeingmaderealtimearethemajorupgradesofthestandardizationofthetool.
PlanforCapitecBankHoldingsLimited
Capitecmanagementiseyeingthefuturewithgreaterplansforserviceprovisiontoalargerpopulation. Theplansincludeexpansiontooverseas, internationalizingtodifferentpartsoftheworld. Asiacouldbethenextpreferreddestinationforthebank’servicesprovision. Itisyettomakeforeignacquisitionsandgetinvolvedincoupd’étataswellascompetitionsthatareinfluencedinothercountriesapartfromtheAfricanneighbors. Themanagementhashintedthebank’planstodoublethepoint-of-saleterminals. Thebankwillassessthecustomerbehaviorwitheveryalterationtotheiroperationsystemtoprotecttheirmarket ("InvestorRelationsCapitecBank," 2016). Theyareaimingatprovidingtrainingfortheirstaffinthefuturetoensureproperprovisionofservices. Thebankintendstoemploythehighlyqualifiedclassofemployeesinordertoprovideahighvalueofperformancefortheirclients. Thebankmanagementisencouragingafuturefeedbackprogramfromboththeprivateconsumersaswellasexternalcustomerstoensurecustomerretentioninthefuture. TheCapitecBankandHoldingsLimitedasabusinessisnotlookingtoenterthemarketsinAfricainfuture. Themainreasonisthebusinessmodelithasincorporated. Themodelwillfailtoworkwithexpectedsuccessduetotheuncertainenvironmentandhighrateofunemployment.

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