STRATEGIC CHALLENGES

Challenge in achieving Inter Organisational Strategic Objective

Executive Summary2

Abstract3

Introduction4

Problem Statement5

Objective of the Study5

Review Of Literature6

Methodology7

Results9

Findings and Discussion10

Conclusion14

Recommendations15

References17

Challenge in achieving Inter Organisational Strategic Objective

Executive Summary

This report deals with the implementation of strategic plan or model to the metro bank in order to resolve the issues that arise from providing a convenient banking system and unique or extra ordinary customer services to the customers. The retail business of metro bank is customer focused and unique that is thought to reinvent the procedures and rules in the banking sector in order to eliminate any kind of unnecessary procedures and steps that are integrated within the banking system. The idea of removing these unnecessary steps in the banking system is to provide simple and convenient banking to their customers. However, in doing so, the organization has to face several challenges with respect to its external environment and internal operations that affect the management's ability to provide the unmatched customer services to the metro bank's consumers. The deployment of a new kind of banking system by the metro bank has costs it much more than expected and the company has to make educated and proactive decisions to deal with the high costs of operations that have also contributed to huge losses to the bank in the initial years of its start-up. This paper provides a comprehensive strategic model to the metro bank to deal with the prevalent issues of company in delivering a unique customer service experience to the customers. The research is conducted to identify the behaviour of customers towards the banking system offered by metro bank which will help the bank in revising their strategies and plans and they can achieve their objectives in the competitive banking industry. The report provides the background of the practices of the bank and correlates it with the prevalent issues of the companies in order to provide recommendations to the management of the bank regarding the enhancement of services while controlling their cost of providing those services.

Abstract

Metro bank provides convenience banking facility to its customers which is quite different from the traditional banking services and is hassle free. However, in providing the unique kind of services the organization has to face several issues and challenges which might hinder the performance level of the banking services provided by metro bank. For this reason, metro bank is recommended to take steps based upon their managerial efficiency and effectiveness that would help it in achieving their desired outcomes and objectives. The concept of convenience banking may become even more beneficial to the metro bank if the company disseminate the information more clearly to the customers regarding it hassle free and easy to use banking service. The bank needs to effectively communicate its message of convenience banking and a hassle free banking management system that is for its customers. The bank also needs to open more branches in a short period of time in order to create lasting brand image in the minds of ...