Quality Management in Bank Muscat
“’Quality is the degree of excellence, which a thing possesses”. Rowland-Jones & O’Brien (2005, p201)
In this assignment I am concerned about maximising the level of quality in Bank Muscat and the way of keeping the promise of meeting the standard that are reached and gave to customers and the people with whom company is dealing. It is easy to reach a specific standard but it is difficult to keep to that level especially with the different competitions that are faced from different factors such as other commercial banks in Oman and the International Standard of Organization (ISO).
1.1 An overview of BankMuscat(Sample Organisation)
BankMuscat assets are worth over USD 8.5 billion, BankMuscat (SAOG) is the largest bank in Oman today with a strong presence in Corporate Banking, Consumer Banking, Investment Banking, Treasury, Private Banking, Project Finance and Asset Management. The Bank has a network of over 101 branches and 239 ATMs in Oman and a representative office in Dubai (UAE). BankMuscat also has a strategic stake in Centurion Bank of Punjab, one of the largest private sector bank in India, and has a 49% stake in BankMuscat International (BMI), an independent banking entity in Bahrain that is focused on becoming a truly GCC regional bank. The Bank has also recently opened its operations in the Kingdom of Saudi Arabia.
BankMuscat holds the rare distinction of being voted the ‘Best Bank in Oman’ five times in a row by The Banker, FT London, six times in a row by Euromoney and seven times by Global Finance Inc. The Bank was awarded the People Development Award at Oman Awards for Excellence, in 2003, 2004 and 2005. The Bank also won the prestigious Gulf Excellence Award 2005 for Oman. BusinessToday named BankMuscat as the Number One Bank in the Sultanate of Oman for 2006, for the fourth time. In 2004, the Bank achieved the rare distinction of becoming the first bank in the Middle East to be completely ISO 9000:2000 certified. (www.bankmuscat.com )
1.2 Five Approaches to Quality
Professor Davis Garvin has categorized the quality definitions into five approaches to quality. The basic principles of the individual models of Quality Management System are briefly provided below: a)
The transcendent approach views quality as synonymous with innate excellence. The quality is being defined as the absolute. E.g. Rolls Royce; Rolex; Formula 1 b)
The manufacturing-based approach quality is about providing products or services that are free of errors, and conform to design specifications. E.g. an EasyJet flight to Malaga c)
The user-based approach assumes quality is about providing products or services that are fit for their purpose. It matches what the customer wants, E.g. Quiet carriage on trains d)
The product-based approach views quality as a precise and measurable set of characteristics that is required to satisfy the customer, E.g. the watch can run for five years without servicing and keeping time correct to within 5 seconds. e)
The value-based approach defines quality in terms of value. They may conform to lower design specifications but as long as they are cheaper this is okay. E.g. The Pound Shop Out of the above approaches BankMuscat follows the transcendent approach views quality as synonymous with innate excellence. This is evident from the prizes won by BankMuscat over a period of working life (Appendices 1). BankMuscat Quality Policy is to achieve and sustain a reputation for quality in the national and international markets by offering products and services that exceed the requirements of our customers. BankMuscat strive to remain the bank of first choice in all product and services.( http://www.bankmuscat.com/about_bk_mission_statement.shtml) it clearly indicate the compa
Quality is consistent conformance to customers’ expectations”. (Slack et al (2004, p595) The quality is need the conformance and consistent to win customers...
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