Managing change in HS Bank

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Managing change in HS Bank

 

Author: Chung, Fuk-hing Thomson
Title: Managing change in HS Bank
Degree: M.B.A.
Year: 1997
Subject: Banks and banking -- China -- Hong Kong
Bank management -- China -- Hong Kong
Hong Kong Polytechnic University -- Dissertations
Department: Dept. of Management
Pages: iv, 160 leaves : ill. ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1410636
URI: http://theses.lib.polyu.edu.hk/handle/200/2555
Abstract: This study aimed at, firstly, identifying and ranking the driving and restraining forces for and against the change from a product-oriented culture to a sales-oriented culture based on the Force Field Analysis by Lewin (1951). Secondly, it aimed at identifying areas for improvements by the branch managers of HS Bank. Thirdly, it compares the financial strengths of HS Bank with the international and local banks, in the hope of gaining some insights on the Bank's future direction. For the first part of the study, it is very important to know the feeling of the branch staff since most of the sales are carried out by them. From the analysis in Chapter 5, "Greater Rewards" and "Pressure from the Branch Manager" were the first and second greatest driving forces for the staff to sell more. Whereas for the first and second restraining forces prohibiting the staff to sell were "Products Offered not Attractive" and the "Lack of Sales Training" As Lewin (1951) suggested that modifying those forces maintaining the present status quo produces less tension and resistance than increasing forces for changes and consequently is a more effective strategy for changes. i.e. we should not simply increase the driving forces as it could increase the restraining forces as well. Based on the above, the writer recommended to modify the restraining forces, i.e. "Product Offered Not Attractive" and conduct a customer satisfaction survey on the needs of the customers of HS Bank. It is also recommended to hire outside consultants to carry out sales techniques training to help the branch staff ascertain and satisfy the needs of the customers. On the driving forces, it is recommended that sales performance be given greater weight in the performance appraisal to make the potential reward greater. However, it is not recommended that we should increase the pressure from the branch manager as it could increase restraining forces as well. The branch managers have identified a number of areas for potential improvements. However, only three areas are recommended by the writer. They are (1) Refinement of performance appraisal and training; (2) Inadequate Support from Operations and (3) Product Offered too Complex. The writer recommended that the existing grading of the performance appraisal system to be further subdivided so as to distinguish the better from a group of average performers. The subordinates should be given chances to assess the work of their superiors. Operations staff should be educated in the concept of internal customers so that they can serve the front line staff as their customers. A survey should be carried out by sending questionnaires to the front line staff on the work of Operations so as to identify possible areas of improvements. Lastly, the branch managers should be involved in the design of the products to avoid the products being too complex to the customers. From the ratio analysis, it is concluded that HS Bank should enhance its cost effectiveness and non-interest income, as well as diversifying its loan portfolio, particularly to non-property related loans and other syndicated loans.

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