The aim of every organisation is to achieve its set goals and objectives as well as secure competitive advantage over its competitors. However, these cannot be achieved or actualized if staff or workers act independently and do not share ideas. Today, prominent businesses are becoming more aware that the knowledge of their employees is one of their primary assets. Sometimes organisational decisions cannot be effectively made with information alone; there is need for knowledge application. An effective knowledge management system can give a company the competitive edge it needs to be successful, and, for that reason, knowledge management projects should be high priority.… Read the rest
Management Articles
Customer Relationship Management (CRM) in the Banking Sector
Competition and globalization of banking services are forcing banks to be productive and profitable. To retain High Net Worth individuals, banks should focus strongly on relationship management with customers. Innovative Customer Relationship Management (CRM) strategies and cutting edge software can help, to a great extent, in achieving the desired results. To provide customized services, banks are opening Personalized Boutiques which provide all the required financial needs of a customer.
The entire service industry is now metamorphosed to become customer- specific. In this context, the management of customer relationship in financial services industry demands special focus. Gone are the days when customers at a bank did not mind the long serpentine queues and waited patiently for their turn with a token in their hand.… Read the rest
Article on Indian Banking Sector: “Gobalization of International Banking”
Over the last several years’ internationally active banks have shifted from international banking to global banking. Some banks, rather than taking deposits in one jurisdiction and lending in other, have pursued the strategy of taking deposits and offering consumer loans, mortgages and corporate loans within a variety of national markets through a local presence. Other banks have pursued a capital market strategy, seeking to fund their portfolios of local securities locally as well. Whether adopting a globe consumer earlobe wholesale model, banks are increasingly looking to serve customers through a local presence funded locally. The ambition to build a ‘global’ (or multinational) bank so defined defers from that to build and international’ bank, define as a bank that takes deposits in one country and makes loans in another.… Read the rest
Article on Indian Banking Sector: “The challenges that the banking sector in India faces”
It is by now well recognized that India is one of the fastest growing economies in the world.
Evidence from across the world suggests that a sound and evolved banking system is required for sustained economic development. India has a better banking system in place vis a vis other developing countries, but there are several issues that need to be ironed out.
In this article, we try and look into the challenges that the banking sector in India faces.
Interest Rate Risk:
Interest rate risk can be defined as exposure of bank’s net interest income to adverse movements in interest rates.… Read the rest
Article on Indian Banking Sector- “Innovation in Banking”
Innovation derives organization to grow, prosper & transform in sync with the changes in the environment, both internal & external. Banking is no exception to this. In fact, this sector has witnessed radical transformation of late, based on many innovations in products, processes, services, systems, business models, technology, governance & regulation. A liberalized & globalized financial infrastructure has provided had provided an additional impetus to this gigantic effort.
The pervasive influence of information technology has revolutionaries banking. Transaction costs have crumbled & handling of astronomical brick & mortar structure has been rapidly yielding ground to click & order electronic banking with a plethora of new products.… Read the rest
Article on Indian Banking Sector- “Survival is the mother of innovation”
“Banks can provide innovation products and services to their corporate and retail customers only when creative people are in place along with latest technology. Such people might provide innovative ideas to customers and banks. By converting there acceptable ideas into reality, banks can get an edge to compete effectively in the global village. Indian banking is also changing its shape rapidly by adopting innovative technology, products and services.”
Innovation is the key to success for any activity. Innovation banking is therefore not an exception. Innovation banking is possible only when we have innovative people in banking. Moreover, innovative ideas of such people have to be heard at the right time by the right people.… Read the rest