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• W205993145 abstract "By Ronald A. Frick* QUALITY AS A BANK STRATEGY Surveys show results. Customers register complaints. Employees leave. America is in the midst of a service crisis and the customer is the casualty. Financial service companies, including banks, are no different. Banks are struggling to improve service and proclaim that they are customer-focused, yet outstanding, exceptional quality service is still the exception rather than the rule. Two routes to profit growth in financial organizations are cost-efficiency and differentiation.' Excellent service contributes to both. In this chapter, the use of quality in banking focuses on strategy and moves the focus from quality to total quality management. While banks understand the value of service quality, getting started can be a struggle. This chapter discusses the implementation of the quality process, the need for commitment, and the impact of quality on the bank. The quality process is complex and frustrating at times, but focus is critical. The process begins with top management's to quality. Top Management Commitment Management participation and leadership is crucial to building a service quality culture. This vision and leadership is also important in developing and implementing a total quality management strategy. Lack of management could lead to service gaps or cause service gaps to widen. Quality must be a management priority. Igniting the explosion of quality leadership in a company means repositioning quality from a secondary to a primary management role.2 Although much of the research indicates the need for management commitment, renowned quality consultant Philip Crosby says he does not want commitment from top managers, he wants participation.3 Quality service comes from inspired leadership. Employees and managers at all levels look to top executives to set an example and a tone for the rest of the organization. Top management must foster a general awareness that quality improvement will take its place as equal in importance to traditional cost, profit, growth, and sales goals.4 Leadership is the backbone of quality, as it is for all planned cultural change.''5 Adopting quality as a bank strategy means cultural change. Change is difficult to accomplish without solid, committed leadership. The bank president and other senior executives set the pace. It is imperative that senior managers in service organizations provide the leadership to focus their company around a set of core values that include customer service and service quality.6 A quality strategy requires people and resources. Without the of top management and their willingness to back it up with considerable resources at their disposal, quality improvement will not be possible.7 Without commitment, it is difficult for working-level employees to obtain the resources they need to deliver quality service.88 According to Edward Furash, bank management must have three crit cal characteristics: 1. A style of doing business that makes customers feel the bank is something special; 2. A management process that is systematic and transferable from region to region, bank to bank, and department to department; 3. A management style that also balances individual and unit freedom, creativity, and incentive with central control of risk, quality, and efficiency.9 Once senior management has a vision statement that reflects the opinion and brain power of the entire management team, they ask the employees for feedback.10 One of the most important functions of the total quality leader is the ability to empower people. It includes transferring power downward and outward and fostering wide employee participation in the quality process.11 Service quality is everybody's business, and effective leaders empower employees to make on-the-spot decisions that are in the customer's interest.12 According to William Davidow and Bro Uttal in Total Customer Service: The Ultimate Weapon, employees will commit to quality if they see management and believe it is sincere. …" @default.
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• W205993145 title "The Application of Total Quality Management on Service Quality in Banking" @default.
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