Solution and Conclusion Reliability
Union Bank has been in existence for 32 years, long before other institutions joined the banking industry. Currently, there are a lot of banks, Saccos, and microfinance institutions in the market with the sole aim of making a profit through customer service. Union Bank’s management and customer service improvements help it remain relevant in the market. The existence of many banks and credit institutions increases competition in the banking industry, thus making every organization try their level best to capture more customers and retain potential customers. Union Bank senior staff bring favours to some teams, offering them training which excludes others. It is dangerous for employees in an organization to be less skilled as service offerings are slow and lack order. The lack of proper treatment of employees by Union Bank management discourages them from performing daily tasks and satisfying customers’ needs, thus declining profits. Poor service given to customers is a result of poor remuneration, poor working conditions, and long working hours. Union Bank has employees’ services that satisfy customers, thus leading to complaints all the time. It is difficult to withdraw money in the ATM since it keeps on clashing. Customer bank statement deposits, loan processing, and deposits take a short period when people behind the desk are fully skilled, thus retaining and attracting customers. The management team plans, organizes, controls, and coordinates the proceedings of an organization daily, thus pointing figures on them when an organization performs poorly. Customers complain as they are always in a bad mood due to overworking and stress obtained from union bank management. It is evident that union bank organization employees have a problem when a simple account mortgage loan checking takes a long time. Union Bank customers state that it is a challenge to deposit due to the constant failure of the bank’s system and the low number of skilled employees. (Weigend, 2018).
Solution and Conclusion Validity
Customers are the reason Union Bank exists, and they should make efforts to ensure the satisfaction of their needs. Competition makes bank institutions like Union Bank value their customers because if they fail, others will take over and dominate the market segment. In the world of business, making a profit is the main aim, and how employees offer services is a reflection of either a negative or a positive figure in the financial statements (Aggarwal, 2014). The primary product is that banks generate profit from loans if union banks experience challenges in making good returns. For Union Bank to cope with current technology, directors have to recruit youths to head the management. Young leaders tend to embrace technological changes more than older people. Many people have smartphones, which makes it possible to operate a bank account in their comfort. Mobile banking systems save people time as there is no queuing in the banking hall for hours. Technological advancement shows that an organization that fails to embrace changes lacks customers and thus goes out of business.
Checklist or Approach Accessing Research Information
Evidence of many complaints from customers like ATM failure, deposit challenges, slowness in simple account mortgage checking and the employee’s lousy customer treatment makes the people conclude negatively about it. Employees complain of persistent complaints about poor remuneration, long working hours, inappreciation, discrimination, and lack of proper skills, which shows the management is poor. Some senior management staff is biased as they train new employees who they desire, leaving others without essential skills in bank operations. Employees say some management officials are old, show they have reached retirement age, or have been in the same bank branch for an extended period. The bank has established its market and gained customer loyalty despite poor service, so some will not move to another bank institution.
References
Aggarwal, R. (2014). 16 The global expansion of Japanese financial service firms: the role of domestic economic and regulatory policies. Coalitions and Competition (Routledge Revivals): The Globalization of Professional Business Services, 229.
Weigend, A. S. (2018). Time series prediction: forecasting the future and understanding the past. Routledge.
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