According to research studies, there are different factors that influence the financial resource attraction which include the level of technology, management skills, customer’s loyalty, good working team, and manpower. The managerial factors have the most significant effect on the attraction of financial resources since they are in charge of the banking and other business activities. The bank management has a responsibility to mobilize resource utilization which will help increase the value of financial resources. The bank is able to increase circulation of financial resources through issuing loans to customers. The extra payments which are collected in form of interest contribute a lot to the activities of the bank.
The responsibility of management is to identify the factors that have great significance on financial resource attraction. The first implementation is to come up with marketing strategies for the bank which will attract more customers to invest. The high resource investment will boost income circulation in the economy. The industry will also be expected to introduce more innovative techniques based on the technology advancement. Management may introduce online services in the financial industry that will make it easier for companies and individuals to utilize their resources. Effective customer orientation should also be done which will educate the investors on the importance of resource utilization. Customers will be advised to consider the level of security in a financial industry before making the investment decision. Clients will also consider the accessibility of services, exchange speed, and privacy of their financial activities with the bank. The process increases the performance of management in the financial business. The management should also ensure that they maintain the best customer service offers where the staff members should be trained on how to handle clients. The level of customer satisfaction will help to attract new customers and retain them into the business.
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