For the tenth year, the number of tellers is estimated to have a drastically fall to a new of 460, this is attributed to the changes made in the year. For the subsequent year, the number of tellers was at 450 a slight deviation from the previous and indication that the changes effectively in the beginning of the previous has the same effect.
The banking industry is quite delicate, therefore, calling for robust measures to keep the bank a float. Other invest in motivating the employs, the bank should considers expanding their services to more populous regions to tap in more customers. With the continuous expansion and accessibility of the internet by a majority of the population, the bank should invest heavily on online infrastructure to be service a wider customer base and the bank will be able to cut further on the number of tellers being deployed. Furthermore, extending the hour of operation and encouraging such operations are transacted online will be instrumental in cutting the cost of operation. The department should also consider expanding the arrays of the services they offer in order to allow them compete favorably and maybe edge out their competitors in the market. Corporate social responsibility is also another area in which the bank should can both give back to the society but also in equal return advertise and extend their scope of operation in areas that other players in the industry are yet to explore.
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Graphs are based on estimation and therefore, while such information they give may be instrumental in decision making, they should be fully relied on because they based on estimations. Such information is basically derived from mathematical expressions and puts not into cognizant the wider micro and macro factors that may affect the business in their normal operation. Secondly, graphs are subject to different types of error which might produce misleading information. In the most unfortunate way, the data may fail to reflect the reality on the ground as they project only hypothetical situation where other factors are held constant or assume to no effect on the operation.
Success in the banking sector is hinged on various factors that if not properly managed, can drastically affect it general operation. First, understanding the behavior of the competitors is of critical importance because one is able to bank on their weakness in order to enhance their expansion and widen their customer base. The quality of service delivery is also a significant factor; the bank is able to expand its bases of operation if it is able to provide services as to the expectation of the customers, therefore, merging the online platform with the consideration of the interest of the customers’ guarantees success. Within the internal environment, consideration should be to ensure that proactive and aggressive personalities are put in the key management structures to ensure that development agenda are driven forward.
The human resource can rely on both qualitative and quantitative techniques to collect date from the data. For qualitative technique, the department can record the feeling and reaction of the customers toward the products, this can be important in shaping the kind of approach the bank can take; this can be done through observation. For quantitative approach, tallying the number of people who visit the bank within the extended period can be used for purpose of decision making. Being that banks are frequented by different people at any given time, should consider putting the questionnaire in every teller for the customer to feel. To get the full perspective of the customers regarding the bank, an open-ended questionnaire should be prioritized.
