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• W2276245743 abstract "by James E. Williamson* and William R. Sherrard** INTRODUCTION In Wall Street Week, April 26, 1996,1 James Champy, coauthor of Reengineering the Corporation (Hammer, 1993), told David Rukeyser and a multitude of investors that banks have not done a good job of reengineering themselves. is important because banks are increasingly using value measures, such as return on equity, as the ultimate performance scorecard. According to John Karr (1993), This shareholder value-oriented framework has spawned considerable changes not only in the way that performance is measured, but in the management processes used to plan, operate and control the bank. In this article, we examine some of the ways Hammer and Champy (1993) say banks have fallen behind other corporations in reengineering themselves and provide an analysis of how reengineering might help banks achieve current goals of increasing value measures. We realize that the implementation of new ideas contains many pitfalls that are often not apparent at the beginning. Because the reengineering proposed by Hammer and Champy emphasizes integrating the processes of business instead of an emphasis on tasks, employees must be reeducated to perceive their job and responsibility as performing the whole process instead of just a single task in the process. Attempts at an integrated approach are not new to banks. However, the reported failures may explain why Hammer and Champy find banks hesitant to reengineer. Turner found that fully integrating product, customer and organizational profitability reporting is a failed design that has not been implemented anywhere in the world.2 Turner elaborated, Most banks that attempt to integrate the three views of profitability ultimately back off to partial integration.3 EMPHASIS ON PROCESSES AND CUSTOMERS INSTEAD OF TASKS Perhaps there is no better way to explain the difference between emphasis on task and emphasis on process and customers than to relate the following real-life experience that happened to one of the authors and his wife in 1990. The incident occurred during an automobile trip from Inuvik in the Northwest Territories of Canada to Dawson City in the Yukon, a distance of 500 miles with only one patch of civilization (a service station and motel at Eagle Plains) exactly half way between. We were on the Dempster Highway waiting for the ferry to carry us across the Peel River, a few miles from Fort McPherson, when an unidentified driver approached us and asked us if we were going through Eagle Plains. Obviously, this was merely a polite form of conversation because there was no other road and we had to be going through Eagle Plains. Whatever, after we had replied affirmatively, the driver, without asking our names or even appearing to notice that we were complete strangers with California license plates on our car, handed us a package and asked if we would drop it off at the motel in Eagle Plains, a distance of about 180 miles ahead. As we were traveling, my wife's curiosity got the better of her and looking into the package saw that it contained three hundred Canadian silver dollars. Being raised entirely in large urban areas, she became very nervous and frustrated about what in the world is going on here? However, the puzzle was revealed very simply when we got to the motel in Eagle Plains. I'm supposed to give this to said as handed the package to the person at the motel desk. Opening the package the clerk replied, It's the change for the bar that we asked the bank to send down. Am supposed to pay you for it? No, said. I was merely asked to deliver it to you. Thank you, then, she replied. What a wonderful experience! A simple focus on the process of servicing a customer's needs without becoming entangled in a web of security controls or a detailed set of instructions as to how the task is to be accomplished and just who is responsible for it. …" @default.
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• W2276245743 date "1996-01-01" @default.
• W2276245743 modified "2023-09-24" @default.
• W2276245743 title "Reengineering for Profitability: Have Banks Fallen Short of Other Corporations?" @default.
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