scholarly journals STRATEGIC MANAGEMENT AND ITS IMPORTANCE IN THE BANKING SECTOR

2018 ◽  
Vol 8 (2) ◽  
pp. 94-100
Author(s):  
Snježana Stanišić ◽  
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Banking Sector ◽  
Management Team ◽  
Accurate Information ◽  
Business Relationship ◽  
Banking Services ◽  
Business Operations ◽  
Successful Business

Management in banks has a unique aim, which is to create a clear picture of the appropriate directing of banking products, characterised by concentration on quality and integrity, maintaining interaction with the employees and beneficiaries of banking services and products, as well as creating solutions that would more successfully fulfil their needs. In order to achieve this, the management team should, first of all, accept all the accurate information on previous transactions, both those of legal and physical persons, and should fulfil their needs and realise their demands based on the principle of a business relationship. On account of the increased competition on the market, banks are additionally stimulated to introduce changes in their operations, to modernise their offer in order to survive on the market. The process of strategic planning in the banking sector may be presented as one of the most important factors for its long-term successful business operations.

scholarly journals The Mediating Role of Customers' Satisfaction on the Effect of CRM on Long-Term Customers Loyalty in the Banking Sector in the Palestinian Territory

2018 ◽  
Vol 14 (8) ◽  
pp. 76 ◽  
Author(s):  
Raed A. M. Iriqat ◽  
Mohannad A. M. Abu Daqar
Keyword(s):  
System Integration ◽  
Banking Sector ◽  
Accurate Information ◽  
Direct Impact ◽  
Mediating Role ◽  
Crm System ◽  
Palestinian Territory ◽  
The Impact

This study aims to investigate the mediating role of customers' satisfaction on the effect of customer relationship management on long-term customers' loyalty in the banking sector in the Palestinian Territory. Using advanced statistical methods. This study supports that there is a high level in implementing the CRM, customers' satisfaction, and long-term customers' loyalty. It showed that these three variables: CRM, customers' satisfaction, and long-term customers' loyalty have a significant role on the Banking sector. CRM and its dimensions, and both of customers' satisfaction, and long-term customers' loyalty are positively significant correlated. Also, finds that there is no role for customers' satisfaction as a mediator variable in enhancing the impact of CRM on long-term customers' loyalty. Moreover, based on SEM the study shows that there is a direct impact of CRM system integration and customers satisfaction on long-term customers' loyalty, whereas there is a direct impact for customers' database and CRM system integration on customers' satisfaction. The scholars find that the Palestinian local banks should pay more efforts to improve their competences to enhance the quality of service and their employees' behavior level. On the other side, they need to keep their customers database updated and to be aligned with the cutting edge technologies to provide better service for customers, which is appropriate and meet their needs by obtaining the accurate information about their preferences in order to build a strong competitive advantage that is hard to imitate, this leads to build a strong relationship with customers.

Manajemen Strategik Rumah Amal Salman dalam Meningkatkan Fundraising Zakat

2017 ◽  
Vol 2 (1) ◽  
pp. 68-85
Author(s):  
Erlin Latifah ◽  
Yusuf Zaenal Abidin ◽  
Ahmad Agus Sulthonie
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Performance Management ◽  
Primary Data ◽  
Strategy Formulation ◽  
Medium Term ◽  
Short Term ◽  
Surrounding Environment ◽  
Depth Interviews

Penelitian ini bertujuan untuk mengetahui bagaimana tahapan manajemen strategik yang dimulai dari Formulasi Strategi, Implementasi Strategi dan yang terakhir Evaluasi Strategi yang digunakan Rumah Amal Salman. Metode yang digunakan dalam penelitian ini menggunakan metode deskriptif dengan pendekatan kualitatatif. Adapun teknik pengumpulan data dengan menggunakan kajian pustaka,observasi, dan wawancara secara mendalam dengan Manajer Litbang Rumah Amal Salman sebagai data primer dan sekunder. Dari hasil penelitian menunjukan bahwa pada tahapan Formulasi Strategi tentang perumusan visi,misi dan tujuan Rumah Amal Salman dengan melakukan analisis lingkungan sekitarnya terlebih dahulu untuk mempertahankan kekuatan dan mengambil peluang yang ada sehingga bisa meminimalisir kelemahan dan ancaman yang terjadi pada lingkungan sekitar sehingga bisa  meningkatkan fundraising zakat.Sedangkan pada tahap Implementasi Strategi yaitu penerapan perencanaan strategis pada program kerja jangka pendek yaitu pada program Salman Day Out Picnic, jangka menengah yaitu program Kampung bangkit, dan jangka panjang yaitu pada program Manajemen kinerja Ekselen Kriteria Zakat. Dan tahapan terakhir yaitu  Evaluasi Strategi yaitu mengevaluasi seluruh kegiatan kerja yang berskala jangka pendek, jangka menengah, dan jangka panjang.Untuk menghasilkan inovasi terbaru pada perencanaan stretgis pada program berikutnya. Oleh karena itu, dapat disimpulkan bahwa manajemen strategik Rumah Amal Salman telah dijalankan dengan baik dan menunjukan keberhasilan yang signifikan dalam upaya meningkatkan Fundraising Zakat. This research aims to find out how the stages of Strategic Management that starts from Strategy Formulation, Strategy Implementation and the last Evaluasi Strategy used Rumah Amal Salman. The data collection techniques using literature review, observation and in depth interviews whit the Rumah Amal Salman research and development manager as secondary and primary data. From the result of the research indicate that in the Formulation Stage of Strategy on the Formulation of vision, mission and objectives of Rumah Amal Salman by conducting the analysis of the surrounding environment in advance to maintain the strength and take the existing opportunities so as to minimize the weaknesses and threats that occur in the surrounding environment so as to increase fundraising zakat. While at the Implementation Strategy stage is the implementation of strategic planning on short term work program that is on Salman Day Out Picnic Program, medium term that isin Kampung Bangkit, and long term that is in program of performance Management of Eccentric Criteria Of Zakat. And the last stage of the Strategy Evalution is to evaluate all work activities that are short term,medium term,and long term. To generate the latest innovations in strategic planning in thenext program. Therefore,it can beconcluded that Rumah Amal Salman Strategic Management has been well executed and shows significant success in efforts to increase the fundraising zakat.

scholarly journals The Level of Development of the Region as a Factor of Strategic Planning

2019 ◽  
Vol 15 (1) ◽  
pp. 80-88
Author(s):  
Vladimir Kornilovitch
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Public Attitudes ◽  
Cultural Development ◽  
The State ◽  
Management Systems ◽  
Russian Society ◽  
Management Activity ◽  
Social Management

The Object of the Study. Strategic planning as a type of government activity for the implementation of the state’s strategic management function. The Subject of the Study. Features of forming of public attitudes to state strategic planning in the conditions of different levels of modernization of the regions. The Purpose of the Study. Identification of sociological grounds for constructing a promising model of state strategic management. The Main Provisions of the Article. Strategic management is the highest function of the state. It is implemented by the authorities through the system of state strategic planning and a specific type of management activity - the development and implementation of strategies, projects and programs. The problem in the state strategic management is manifested in the fact that targeted actions of the authorities on the implementation of strategies, national projects and long-term development programs have unforeseen consequences. The continuing growth of territorial disproportions in the socioeconomic, and sociocultural development of cities and regions of Russiya indicates that the modernization of Russian society ir a spontaneous, fragmentary, rather than a manageable process. The article presents an analysis of the results obtained in the course of the study “Civil Expertise of the Problem of Reforming the Power-Management Vertical in the Context of Socio-Cultural Modernization Processes of the Regions: From Monitoring States to Forecasting Design” (RNF, 2015-2017, Head - Dr.S. A Tikhonov). On the basis of empirical data, the author demonstrates the potential of sociological tools in studying the properties of social management systems emerging at the municipal, regional and federal levels. It is proved that when a certain level of modernization of the region is reached, there is an increase in the influence of the subjective factor in management, which, along with others, determines the ability of authorities to achieve the planned results of long-term development. Differentiation of regions according to the level of socio-economic and socio-cultural development as well as the existing set of social management systems do not allow to implementat linear dependencies in management relations. The initial condition for constructing a new model of state strategic management is a combination of institutional, normative-value management ,and developming macro-technology at the federal, regional and municipal levels. �аз�c� ���� W� муниципальном уровне – менеджмент.

scholarly journals Measuring Clients’ Attitudes About Banking Services Quality Using the SERVQUAL Model

2019 ◽  
Vol 57 (2) ◽  
pp. 201-217 ◽  
Author(s):  
Jovana Savić ◽  
Nevena Veselinović
Keyword(s):  
Banking Sector ◽  
Services Quality ◽  
Research Question ◽  
Primary Data ◽  
Survey Method ◽  
Simple Random Sample ◽  
Banking Services ◽  
Main Research ◽  
Sample Technique

AbstractThe economic crisis and the emergence of an increasing number of competitors in the banking sector have led to the need for banks to better understand their clients and to work more closely together with them. The basis of survival and profitable business of banks is the achievement of high quality offer that is the asset for developing long-term relationships. The aim of the paper is to determine the effects of the banking services quality dimensions on satisfaction and loyalty of clients using modified SERVQUAL model. The main research question is to examine which dimensions of banking services quality have an effect on the satisfaction and loyalty of clients, what is the nature and the intensity of this impact. For the purpose of measuring clients’ attitudes regarding banking services quality, the survey method, questionnaire technique was applied. The questionnaire was distributed to clients of banks operating in the territory of Kragujevac, Central Serbia, in the period from September to October, 2018. Simple random sample technique for sampling was applied. The analysis was conducted by processing the primary data in statistical software SPSS where several statistical analyses were conducted. Based on multiple regression analysis, it came to the result that the strongest influence on clients’ satisfaction has variable empathy and the weakest variable tangibility, while variable reliability has no influence. On the other hand, clients’ loyalty is most strongly influenced by variable responsiveness while the weakest influence, as well as on satisfaction, has variable tangibility. The paper points to the significance of improving banking services quality in order to achieve higher level of satisfaction and long-term clients’ loyalty, which is particularly important when it comes to dimensions that have weak or no influence on the observed aspects of consumer behaviour.

scholarly journals The Challenges of Creating Sustainable Competitive Advantage in the Banking Industry in Iraq

2018 ◽  
Vol 4 (2) ◽  
pp. 1
Author(s):  
Helal Mouneer Alalie ◽  
Yoshifumi Harada ◽  
Idris Md Noor
Keyword(s):  
Competitive Advantage ◽  
Banking Sector ◽  
Research Work ◽  
Sustainable Competitive Advantage ◽  
Relevant Market ◽  
Comprehensive Strategy ◽  
Policy Makers ◽  
Banking Services ◽  
Strategic Performance

Sustainable Competitive Advantage plays a key role in evaluating the strategic performance of an organization. The purpose of this study is to contribute to the understanding of how Sustainable Competitive Advantage is developed and applied in evaluating the performance of a large local bank in Iraq. Due to lack of research work in this area of banking sector in Iraq, this study shall contribute to the knowledge on how banks in Iraq may apply the Sustainable Competitive Advantage and how they might turn strategic vision into potential performance. The use of the Sustainable Competitive Advantage developed here is limited to the very bank studied here; however, the approach could trigger off reflections among policy makers and other banks to start using the Sustainable Competitive Advantage. The customers tend to deal with the banks that are able to develop their banking services in distinctive way as well as wishing to respond quickly to the wishes of customers, especially if we know how much similarity there is between those services. Thus, the need is urgent for excellence as well as for achieving a competitive advantage compared to other banks. Yet, that cannot be done on the long term unless the bank has the ability to adapt to environmental variables in general and to customers desires in particular. This requires adopting a comprehensive strategy for the purpose of accommodating and amending the procedures for the provision of the service. Lately, plenty of banks are being brazen-out due to confronting considerable rivalry. This is mostly due to these banks failing to have the power of proposing for attractive offers or even having acceptable ties with customers of theirs. This paper aims at analyzing means that can help a bank securing an agile rivalry in a market that is always about competition and winning customers and business accordingly. According to what the discussion has brought up, the idea of sustainability is growing faster lately as a vital criterion marking the size of corporations react for challenges that bear a strategic core nature. According to the conclusion of the paper, there is a necessity for a bank to have the capability of overcoming the inertia of change as well as intersecting new opportunities of the relevant market.

scholarly journals Strategic planning and remuneration

1986 ◽  
Vol 17 (1) ◽  
pp. 13-16
Author(s):  
G. S. Andrews
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Compensation System ◽  
Recent Past ◽  
Short Term ◽  
Business Operations ◽  
Compensation Systems ◽  
The Future ◽  
Strategic Compensation

Management thought, practice and process have changed dramatically over the recent past and we need new ways to think about how business performs and how to measure the managers who run our business operations. With rapidly changing markets, technologies, customers, suppliers and consumers, more and more emphasis is being placed on thinking strategically and on how to position the business for the future. Unfortunately many firms are still grappling with the concept of strategy and do not fully understand the concept of strategic management. As a result, many managers are being encouraged by the reward and compensation system to act in their own interests and not in the company's interests. Poorly designed measurement and compensation systems tend to reward short-term thinking and do not recognize the value of strategic compensation systems. Managers must be made partners in a firm's success by linking compensation to the strategic variables of success.

scholarly journals The role of virtual space in ensuring ‘fair access’ to banking services –results of empirical research conducted in the Polish SME sector

Europa XXI ◽  
2020 ◽  
Vol 39 ◽  
Author(s):  
Marek Szczepaniec ◽  
Tomasz Jurkiewicz
Keyword(s):  
Empirical Research ◽  
Virtual Space ◽  
Financial Behavior ◽  
Banking Services ◽  
Spatial Justice ◽  
Business Operations ◽  
History Of ◽  
Spatial Exclusion

The aim of this article is to present results of long-term empirical research on the changing behavior of micro, small and medium-sized enterprises (SMEs) in Poland in the context of spatial exclusion and spatial ‘justice’. Between 2007 and 2015, the authors conducted cyclical research on the financial behavior of SMEs in Poland on large samples. The scope of research on traditional and virtual space covered mainly: the criteria for selecting a bank for current service and the use of various banking services in particular distribution channels. In the researched period, the percentage of indications to convenient location as the most important factor for selecting a bank dropped from 29% to 16%. In the entire period under research, the highest percentage of indications to convenient location as the most important factor for selecting a bank was recorded in the micro enterprises sector. The percentage of entrepreneurs’ indications of fees and commissions as the most important factor in choosing a bank increase from 28% to 36%. Price parameters became the most important factor of bank selection in the SME sector. Virtual space was used primarily to distribute less complex banking services (checking the account balance and viewing the history of operations on the account, as well as to make transfers). In the case of more complex products, such as deposits or loans, traditional banking branches were preferred. In contrast to the results of the American research (Degryse & Ongena, 2002), in Poland there was no impact of the distance between the company and the bank branch on the loan utilization rates and the loan refusal rates. The research has shown that the virtual space equalizes the opportunities, facilitates business operations, contributes to a drop in prices and improvement in quality of the offered products and services, and renders the access to products and services fairer.

scholarly journals FACTORING AS A NEW POSSIBILITY IN THE FINANCIAL SECTOR

2019 ◽  
Vol 1 (2) ◽  
Author(s):  
Arjeta Hallunovi ◽  
Elez Osmanovic
Keyword(s):  
Banking Sector ◽  
Financial Sector ◽  
Accurate Information ◽  
Strategic Decisions ◽  
Working Capital ◽  
The Past ◽  
Banking Market ◽  
The Cost ◽  
Short Time

Over the past fifteen years, an increasing number of small and medium-sized companies have begun to consider factoring as a practical source of working capital. Unfortunately, the availability of accurate information and time has not kept the same pace with the growing interest in this used form of funding. The financial sector, especially the banking sector, has been hit by the difficulties generated by the tensions of debt dependence, which are affecting the banking market assessment and its ability to create medium and long-term funds. Consequently, making a comparison with the past, in general, the most valued valuation methods are the cost of funds which have increased significantly. Current economic conditions, characterized by credit constraints, make factoring one of the most favorable solutions for businesses. This funding method is one of the ways it takes a short time to negotiate and one of the easiest methods to provide working capital funds. Factoring services offer an alternative to credit to companies that need little help with funds. By selling your receivables to a factoring company, you receive a portion of the forward amount and receive the rest, minus a percentage that the company receives as a payment as soon as the amount is collected. You get most of your funds before the customer has paid the account, instead of waiting until after paying the bill. The factoring service works to collect accounts receivable so that you can devote your resources and efforts elsewhere to your business. Through factoring, businesses can enable their boards and senior management to make better informed decisions; proactively manage the provisions and effects on capital plans; make strategic decisions with a view to mitigating risks in the event of current underlying conditions; get assistance in understanding the evolving risk nature of the banking sector.

scholarly journals Reasons for satisfaction and dissatisfaction of bank customers. Study from Slovakia and the Czech republic.

2014 ◽  
Vol 2 (1) ◽  
Author(s):  
Jaroslav Belás ◽  
Lenka Gabčová
Keyword(s):  
Czech Republic ◽  
Customer Satisfaction ◽  
Financial Performance ◽  
Statistical Methods ◽  
Commercial Banks ◽  
Banking Sector ◽  
The Czech Republic ◽  
Satisfaction Rate ◽  
Successful Business

The satisfaction of bank customers presents an important area of building long-term relationships with the client, which significantly determines the financial performance of commercial banks through successful business. This article presents the current situation in the banking sector in the Czech Republic and Slovakia. The aim of this article is to measure the customer satisfaction, its development in time, then to determine the main satisfaction and dissatisfaction attributes and finally to compare the situation in the Czech Republic and Slovakia. To measure all these elements, standard statistical methods have been used. The observed overall satisfaction rate of the Czech and Slovak clients is very similar. The main reason for the satisfaction of bank customers in both countries is ability to use electronic banking and most important reason for their dissatisfaction is long-term high prices of products and services.

scholarly journals Prerequisites for the emergence and importance of strategic planning in the activities of modern enterprises

2021 ◽  
Vol 1 (79) ◽  
pp. 151-156
Author(s):  
Т. Zh. Demessinov ◽  
◽  
R. K. Konuspaev ◽  
Zh. Z. Oralbaeva ◽  
◽  
...  
Keyword(s):  
Strategic Planning ◽  
Entire Range ◽  
Planning System ◽  
Direct Impact ◽  
Planning Systems ◽  
Business Operations ◽  
Effective Procedures ◽  
Corporate Practice

This article discusses the emergence and importance of strategic planning in the activities of modern enterprises, the need for more effective procedures and strategic planning systems. Particular attention is paid to the dynamics of the spread and introduction of the strategic planning system in the practice of management of American companies in the 70s early 80s. The constructive role of long-term planning in the further evolution of intrafirm strategic planning is seen in the fact that, as its shortcomings were revealed, the possible and necessary ways to eliminate them became clearer. It is possible to conclude that the processes of diversification had a very direct impact on the creation of conceptual approaches that formed the basis for strategic planning. Primarily, the segmentation of the entire range of business operations of the firm is dividing them according to certain pre-selected criteria into internally more or less homogeneous and, therefore, more manageable parts. A definite step in this direction has already been taken with a broad introduction into corporate practice of a divisional (or separate) organizational structure.

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