Tqm in Banking
Introduction
Quality of services is the most important aspect in banking too. Business success can be reinforced if you conscientiously search for newer and more effective ways of improving the quality of your ways of serving your customer. Your organisation becomes more useful to the society as a whole thus. As far as banking is concerned, effective TQM measures bring in a transition form the good old good to the novel better or best from the bank’s internal department to its front-line employees. Marketing a bank is not just the same as marketing an FMCG company. TQM, if effectively formulated and practised, provides extreme ease and clear direction to a bank marketeer in understanding what makes his bank the first choice to its customers before other banks.
What is effective TQM as far as a bank is concerned. Is it the physical amenities provided at each of the branches, is it a pleasing smile and a warm hand-shake at the front door, is it convenient hassle-free paperwork, or well thought about, well planned, target oriented, tailor-made product mix, ICT enhanced sophisticated operational eases, or a properly balanced mix of all these. Will a centralised TQM plan is enough or freedom at the levels of individual branches needed, or a regional/zonal segmentation is enough? What could be the optimal level of decentralisation of decisions to achieve the maximum quality of services and at the same time achieve maximum profitability?
These are the various issues discussed and probed into in this study. An attempt to conceptualise and suggest some innovative TQM designs also is made here. It’s envisaged that the findings of this study will be of some real use to the banking industry as a whole, the population pf students who are interested in pursuing higher studies in banking, and thus to the society in toto.
Objectives of the Study
The researcher intends to examine the present state of the total quality management in banks, analyse the present
Quality of services is the most important aspect in banking too. Business success can be reinforced if you conscientiously search for newer and more effective ways of improving the quality of your ways of serving your customer. Your organisation becomes more useful to the society as a whole thus. As far as banking is concerned, effective TQM measures bring in a transition form the good old good to the novel better or best from the bank’s internal department to its front-line employees. Marketing a bank is not just the same as marketing an FMCG company. TQM, if effectively formulated and practised, provides extreme ease and clear direction to a bank marketeer in understanding what makes his bank the first choice to its customers before other banks.
What is effective TQM as far as a bank is concerned. Is it the physical amenities provided at each of the branches, is it a pleasing smile and a warm hand-shake at the front door, is it convenient hassle-free paperwork, or well thought about, well planned, target oriented, tailor-made product mix, ICT enhanced sophisticated operational eases, or a properly balanced mix of all these. Will a centralised TQM plan is enough or freedom at the levels of individual branches needed, or a regional/zonal segmentation is enough? What could be the optimal level of decentralisation of decisions to achieve the maximum quality of services and at the same time achieve maximum profitability?
These are the various issues discussed and probed into in this study. An attempt to conceptualise and suggest some innovative TQM designs also is made here. It’s envisaged that the findings of this study will be of some real use to the banking industry as a whole, the population pf students who are interested in pursuing higher studies in banking, and thus to the society in toto.
Objectives of the Study
The researcher intends to examine the present state of the total quality management in banks, analyse the present