Topics: Management, Plan, Customer service Pages: 1 (285 words) Published: March 25, 2013
..... New generation
Today, banks claim themselves as new generation banks on the basis of certain services they render or the time period they have being formed or bought into existence. But, it should not be done so because, it totally depends on how they function, in terms of implementing strategies, creating and initiating new investment plans managing funds and non-performing assets, looking on to the way how their work force is recruited and retained by analysing their true caliber and so on. “New generation banks are not just banks who are involved in the implementing a new strategy for the sake of survival. But, banks who are involved in the process of creating a paradigm shift to overcome the ever-changing market requirements and customer preferences by the way they organize the internal and external activities, and initiatives by considering traditional  human values and using modern technology. That may result in creating larger revenues by properly investing and managing the funds to create optimum profit and goodwill for the long run of the business can be considered and proved as sustainable”.                      Similarly, ages pass on and so does time, thus organisations who are involved in creating change and surviving the change by implementing innovative and effective strategies to serve the future generations to come can be considered so. Thus, In this process the bank that excels with its innovative strategy is to be considered as a new generation bank as the those strategies used to exhibit customer service and welfare is just a marketing strategy which brings in customers but on along run its only the internal affairs and money management strategy that helps a business retain its position in the market.
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