Executive Summary
The report explores the detailed atmosphere under which the Abu Dhabi Commercial Bank functions. The analysis is centered on the view of identifying specific sectors or areas that of great significance to the management and the executive needs to come up with measures and initiatives that are capable of augmenting the expansion and performance of the firm.
Several commercial banks operate in the United Arab Emirates’ banking industry. Just like other commercial banks in the United Arab Emirates, the Abu Dhabi Commercial Bank has achieved greater developments in terms of growth. Specifically, the Abu Dhabi Commercial Bank is among the leading banks in the United Arab Emirates banking sector.
The target markets of the Abu Dhabi Commercial Bank are the ventures and people in need of retail and credit services. As such, the Abu Dhabi Commercial Bank has achieved the position of the leading solo lender within the United Arab Emirates. In reality, findings from the environmental analysis indicate clearly that the Abu Dhabi Commercial Bank is better placed to operate within the banking industry.
In addition, the bank is presented with a myriad of expansion prospects. Nonetheless, due to the mushrooming of other banks within the United Arab Emirates, the Abu Dhabi Commercial Bank is faced with the shortcoming of presenting the clients with the intended affordable and sustainable electronic banking services.
Further, the continuity of the Abu Dhabi Commercial Bank is influenced by the conservative nature of the United Arab Emirates market as well as the increasing number of mushrooming commercial banks.
Company Background
The Abu Dhabi Commercial Bank (ADCB) was established in 1985. The ADCB came into operation following the amalgamation of the Khaleej Commercial Bank and Emirates Commercial Bank. The government and private individuals own sixty-five percent and thirty-five percent in terms of shares in the bank correspondingly.
Most importantly, the Abu Dhabi Commercial Bank’s interests are centered on funds management, commercial and retail investment financing as well as brokerage activities. In addition, the bank operates both in the United Arab Emirates as well as outside UAE. Within the United Arab Emirates, the ADCB has forty-eight branches. Further, the bank has three branches overseas.
The Abu Dhabi Commercial Bank’s overseas branches are located in the United Kingdom as well as in India. The current asset base of the Abu Dhabi Commercial Bank is estimated to be 150 billion dollars. The corporate headquarters of the Abu Dhabi Commercial Bank is based in Abu Dhabi (ADCB, 2013).
The operations of the Abu Dhabi Commercial Bank specialize on financing investment projects based on Islamic Sharia law. As such, the Ijara is a common financial model often adopted by the ADCB. Specifically, Ijara refers to a contractual indenture that ADCB uses in buying an asset from the owner for a specified amount demanded by the vendor. Later, the same asset is borrowed to same proprietor on an intervallic let out concord.
Another common financial model used by the Abu Dhabi Commercial Bank is known as Murabaha. In this financial model, the bank and the client enter a mutual accord centered on the pledge by the client to honor the promise.
The Abu Dhabi Commercial Bank also practices the lstisna’a finance model that operates on an agreement with a client whereby the bank makes pledges based on the defined particulars in a required blueprint.
The defined particulars by design become priceless upon the achievement of the agreement based on the laid down deadline. The Abu Dhabi Commercial Bank faces competition from a number of established banks with the main competitors being the Qatar National Bank and the Doha Bank (ADCB, 2013).
Industry Analysis of the ADCB
Macro-environmental Analysis
The macro-environment analysis is significant in examining the external aspects that influence the operations and performance of the banking industry. Specifically, the macro-environmental factors are critical in analyzing the operations of Abu Dhabi Commercial Bank.
The external factors are out of control and cannot be managed by players in the business industry. The application of PESTL tool is significant in analyzing the operations and performance of the ADCB.
Political environment
Close economic relations over the years characterize the United Arab Emirates industry sectors. Just like other players in different industry sectors, the Abu Dhabi Commercial Bank has also been a beneficiary of such relations. In addition, the country’s stable political environment provides an ideal and peaceful environment for carrying out business activities (Ford, 2007).
In principle, the peaceful and stable political environment provides an excellent guarantee for both local and foreign investors that their ventures are safe and it is a reason to them to augment the investments in the country.
The continued political stability offers the Abu Dhabi Commercial Bank with the prospect of growth and expansion, as investors are reassured of the safety of their investments into the bank. In fact, the UAE has no fears of political mayhems and civil disobediences that can adversely affect the smooth operations of the Abu Dhabi Commercial Bank’s operations.
Economic factors
The United Arab Emirates has a sound economic environment that is perfect for any business operations. Based on this, in 2005, the World Bank honored then the United Arab Emirates by recognizing it as a wealthy and prosperous nation. In fact, the country’s Gross Domestic Product (GDP) hit a high of one trillion dollar mark in 2006.
Additionally, studies postulate the United Arab Emirates as one of the nations with the Highest Purchasing Parity (PPP) across the globe. Further, the nation’s low inflation and interest rates as well as excellent infrastructure make UAE the preferred business destination across the globe.
Most importantly, the country’s unwavering economy characterized by high living standards of the populace offers the Abu Dhabi Commercial Bank with a profitable market for business operations.
The United Arab Emirates is characterized by high per capita income as well as minimal unemployment rates. Based on this regard, the country’s citizens have high requirements for financial services, thereby providing business opportunities for the ADCB. The economic downturn experienced between 2008 and 2011 adversely affected several businesses (Ford, 2007).
However, the United Arab Emirates is on the economic recovery path. In essence, the nation’s living standards are projected to expand as the crisis of joblessness is solved. The operations and performance of the Abu Dhabi Commercial will tremendously improve owing to the augment levels of demand for financial services in the United Arab Emirates.
Social factors
The operations of the Abu Dhabi Commercial Bank must take into consideration the requirements, cultures and the norms of the various societies in which it operates. As such, the bank must make sure that it maintains good working relationships with the society by providing the society with opportunities of taking the benefit of the assets given by the firm.
Further, social issues such s climate change as well as criminal money laundering has been on the rise. The ADCB must monitor closely any criminal transactions. The bank must also come up with initiatives that support a low carbon environment by using environmental friendly chemicals.
Technological factors
The Abu Dhabi Commercial Bank is investing heavily on information communication technology to keep in touch with the technological advancements experienced in the banking sector to improve service delivery and client contentment. For instance, electronic banking has been on the increase due to its convenience in the performance of businesses.
In addition, the Service Oriented Architecture is another technological initiative being utilized by banks’ managements to monitor the general trends in output and profits s well as spotting out the shortcomings that could affect the growth and expansion of business negatively (Ford, 2007).
Generally, the current developments brought about by technological advancements have influenced the ways in which the ADCB has been operating over the last years. Therefore, the bank must adopt the latest trends in technology to keep in touch with the new banking trends across the world. The application of technological breakthroughs by ADCB would enable the bank advance its productions as well as accomplish its objectives.
Legal factors
The Abu Dhabi Commercial Bank has to comply with the legal requirements in order to operate efficiently in an easy business environment (Ford, 2007). For instance, the firm is expected to be tax compliant through accurate remission of return forms where taxes are deducted. Further, with the increased capital requirements and anti-money laundering requirements, the ADCB has to incur more time and costs in dealing with the legal observance.
Micro-environmental Analysis
Industry Competitiveness by Porter’s 5 Forces Model
Threat to market entry
The business scale of the ADCB together with its rivals such as the Doha Bank and the Qatar National Bank are well established thereby benefiting from the economies of scale. In the United Arab Emirates, wannabe banks encounter difficulties in going into the banking market due to the presence of the established banks.
For instance, the ADCB has divisions across the UAE with numerous subdivisions in major cities. Therefore, the wannabe entrants would require colossal capital to do better than the ADCB. Moreover, the ADCB provides services to over six million clients annually.
ADCB has the capability of providing its clients with affordable and reliable financial services due to many divisions, consistent client base and established market position.
In essence, the bank is capable of gaining more clients since the subdivisions re able to offer prices below the market price thereby locking the new entrants from the market operations. In fact, the ADCB is well-positioned to survive competition because of economies of scale, competitive price tags and strong customer base.
Threat of substitutes
The supreme threats to the existence and operation of the Abu Dhabi Commercial Bank are the Doha Bank and the Qatar National bank. In reality, the banks have been in the market for a longer period than the ADCB, which started its full operations in 1985 after the amalgamation (Ford, 2007).
Specifically, the Doha Bank began its full operations in 1979 while the Qatar National Bank was established in 1964. The banks enjoy similar financial products and brand loyalty. Thus, the Doha and Qatar National Banks can offer alternative perfect substitute to unsatisfied clients in ADCB. In order to remain in the market, ADCB offers tailored optometry financial services to clients.
Power of suppliers
The suppliers of banking services in the UAE banking industry, such as the Royal Bank of Scotland (RBS) and the Dubai Financial Services Authority (DFSA) have more bargaining power due to the numerous banks in the UAE. In reality, the suppliers have the power to prompt market demand and supply variances (Wright, 2007).
In addition, the UAE Central Bank and the lending institutions such as the RBS offer financial services to the commercial banks. As such, the suppliers are the dictators of the industry’s lending and borrowing interest rates. Nonetheless, ADCB has utilized its monetary pool to gain equilibrium with the supply forces within the frail financial market in the UAE.
Power of buyers
The amount of turn over-realized by the ADCB depends on the highly on the power of the financial users. The ADCB offers different categories of services to buyers such as NRI services that provide global wealth management services, insurance and investment, loans and mortgage as well as accounts.
The buyers of the bank’s services include individuals and medium and large enterprises in need of various financial products and services. Therefore, the higher purchasing power of the consumers determines the profitability of the bank.
As such, service delivery as well as quality that meet the clients’ anticipations is critical in maintaining customers. ADCB must offer quality unique services that meet the expectations of the customers so that it does not miss the business prospects (Wright, 2007).
Rivalry
There are numerous commercial banks dealing in a multiplicity of monetary products and services in the banking industry within UAE. For example, the Doha Bank has a market connection of approximately 30%, thereby posing the greatest competition to ADCB (Ford, 2007).
Most importantly, value for money and eminence in service delivery dictate the decisions of clients on the purchase of financial services and products in the UAE.
As such, banks are coming up with initiatives that attract clients, thereby augmenting market share. In essence, the space occupied by the Abu Dhabi Commercial Bank’s business premises determines the temperature of competition (ADCB, 2013).
Company Internal Analysis
The internal analysis of the Abu Dhabi Commercial Bank utilizes the SWOT analysis tool that contains detailed data concerning the internal operations of the firm.
Over the years, the bank has grown to be a market leader across core business portfolio ranging from investment in real estate financing to Islamic Non-interest financing. The analysis provides the operation mechanisms of ADCB that enable the gain of competitive advantage over other competitors.
SWOT Analysis
ADCB has a stable management team that is vital in the provision of financial support and assistance to clients as well as appraising the bank’s operational tactics in accordance with the consumers’ requirements. For example, the implementation of the electronic banking service, as well as the Abshar Emiratization programs makes the operations of the firm effective and efficient.
Stability in proceeds, high asset worth and strong capitalization has made the funding of various ventures inexpensive. The bank recorded about 23% increase in turnovers in the last financial year. Further, ADCB has wide network of over forty full-service branches and subsidiaries in the UAE thereby augmenting the visibility and convenience of the bank’s services and products.
Weaknesses
The client base of ADCB is limited to the boundaries of the United Arab Emirates since the bank has only three subdivisions outside the UAE. Further, the bank’s focus is mainly on corporate banking. In this regard, the bank may lose revenue since many clients are private individuals and own small ventures that are incapable of operating in the corporate and investment podium.
Opportunities
The steady economic growth experienced in the UAE provides the bank with the prospect of improving proceeds. Further, the probable growth in the profitable sectors such as Islamic banking and mortgage financing offers ADCB with opportunity to augment profits.
Threats
The major threat to the continued existence of ADCB in the banking industry emanates from the local banks including the Doha Bank, the Qatar National Bank, Abu Dhabi Islamic Bank, Invest Bank and Dubai Islamic Bank PJSC specifically in the Doha Bank and the Qatar National Bank have existed in the banking industry for longer periods compared to ADCB.
The turmoil experienced across the Gulf region. The unrests are expected to subvert the liberalized markets in the United Arab Emirates and affect the interest rates of the financial products and services (Escrig-Tena et al., 2011). Nonetheless, the political stability enjoyed in the United Arab Emirates has diminished the likelihood of the disturbances.
Issue/ Opportunity Identification
Through the above investigation, the Porter’s five forces play vital roles in the business operation environment. Based on this, the Abu Dhabi Commercial Bank has been utilizing the forces in its operations. In fact, the bank is capable of dangling then forces as well as manipulating the forces to gain competitive advantage.
In essence, the bank uses the Porter’s approach to offer competitive prices, expand, branch out and cut the market position. On the contrary, slow response to such aspects may lead to business failure thereby occasioning massive expenses and diminishing market share.
The clients mainly enjoy personalized financial products and free financial counsel as well as reasonable and elastic credit settlement programs from ADCB. Further, the bank also provides reasonable interest rates for repayment plans, free mobile message alerts on loan status application, account and repayment.
In order to meet the customers’ requirements, ADCB strives to support the benefits with reasonably priced services, consistency and professionalism.
Cost leadership strategy as well as diversification and expansion are vital in the management of businesses. For instance, through then use of cost leadership tactic, ADCB is capable establishing sustainable competitive advantage over rivals in the banking industry by streamlining operations.
On the same note, diversification and expansion of business operations enable the gain of economies of scale as well as monitoring efficiency through performance appraisal and target management, among others. Therefore, the bank should remodel its electronic banking services through the expansion and diversification of business activities to retain clients and ensure business sustainability.
Significance of the Project and Benefits to the Company
The study on the role and impact of the remodeled electronic banking services on customer retention and business sustainability would present the administration of ADCB with the prospect of comprehending the banking environment in which ADCB functions. In addition, the study is critical in aiding the bank execute financial services effectively as well as providing the framework for managing the customer anticipations.
Research Methodology
The Study Design
In order to investigate the role and impact of the remodeled electronic banking services on customer retention and business sustainability, this particular research study will utterly be a quantitative research. The requisite research data will be gathered across the study population through sampling strategy.
A research technique dubbed as survey method will essentially be drawn on while the obtained data will be analyzed through the application of statistical tools. By employing quantitative research methods, any ensuing unanticipated research hypothesis will possibly be suggested as well as formulated and the study will be much quicker and somewhat cheap.
The mentioned research method is considered to be amongst the best given the fact that it rarely stands a chance of disqualifying any notable alternative explanations. Moreover, the research method cannot surmise to the event causations.
To illustrate the role and impact of the remodeled electronic banking services on customer retention and business sustainability, the suggested outcomes will accrue from the collected data. The study proposes is to utilize the stipulated research methods by taking into consideration crave to acquire first-hand research data in addition to other related investigated information from the respondents.
Thus, it is perceived to assist in devising sound and rational study conclusions amid offering feasible recommendations for the research being conducted.
In order to present significant research findings, appropriate conclusions, and credible recommendations, the investigative study on the role and impact of the remodeled electronic banking services on customer retention and business sustainability will totally use the well-known research sources namely the primary data.
However, the primary research information and desired data for this novel study will be obtained through administering self-designed survey questionnaires to the study targeted population. In fact, the researcher intends to administer the questionnaires to the study participants through choosing every third organization’s respondent initially incorporated in the study population.
The survey schedules that have already been approved to help gather information on the application of electronic services will equally be used to establish the customers’ observations on the extent at which the organization has utilized electronic banking services on customer retention and business sustainability.
Sampling and Sampling Procedure
In this particular study, the entire bank’s customers, as well as managers, are deemed viable when carrying out the research. However, the target group of customers and managers will be selected depending on the frequency with which they have been using the bank’s electronic services and their knowledge of the firm’s website.
From the total number of customers that may be sampled, just ten clients and five managers will be selected via a technique dubbed as convenience simple random sampling strategy and the research questionnaire will be administered to help in addressing the formulated research questions.
In particular, for the purposes of this study, the proposed sample size will comprise of ten customers and five managers. An online survey will be conducted to help obtain the study quantitative data.
Key informative and well-structured in-depth questionnaire will have to be administered online to ascertain the cause-effect relationships between the variables. From the sampled respondents the questionnaire will have to be administered equally at the same time within a particular period.
Regardless of the fact that the chosen sample size of fifteen respondents materialize to be exceptionally small given the type of research study to be carried out, the constraints such as the available financial resources and the planned timeframe makes it completely necessary to confine the study selected sample to the precisely specified size.
Instrumentation
Data perceived to be containing the relevant research information for this study will be acquired from the primary sources. In fact, as an online survey and a study that involves self-administration of research questionnaires, the pertinent primary data that include the perceived electronic services information will have to be gathered.
In essence, a comprehensive exploration instrument will be developed besides being satisfactorily tested prior to embarking on the actual survey.
Data Collection
As part of the survey procedure, the bank’s electronic services information will be collected through administering properly designed research questionnaires to the unbiased selected respondents. The soundly designed research questionnaire will be administered to fifteen respondents. Each part of the questionnaire will constitute key items that suitably attend to the research questions.
The questionnaire will generate insights amidst offering recommendations to the organization to adopt the remodeled electronic banking services. The questionnaire will thus be made of both open and closed ended research questions and this is believed to be of great significance to the study since it will assist in performing data analysis
Data Analysis and findings
Data Analysis Technique
In order to ensure logical completeness as well as response consistency, the data will be collected online within a specified period, which is convenience to the participants as well as the researcher.
When data collection is completed, the gathered research information will definitely be analyzed through the application of quantitative tools. Moreover, the statistical analytic tools will be applied to establish the role and impact of the remodeled electronic banking services on customer retention and business sustainability.
Further, appropriate quantitative data analysis techniques, including percentages and deviations will be used to determine the research respondents’ proportions that chose various responses. The method will be applied for each group of items available in the questionnaire that ideally corresponds to the formulated research question and objectives.
Line graphs, tables as well as statistical bar charts will be used to make sure that quantitative data analysis is simply comprehensible. However, quantitative data analysis techniques as well as Line graphs, tables and statistical bar charts will only be applied where appropriate.
Data Findings
According to the findings, all the respondents agreed that the bank applies electronic banking services. In addition, about sixty percent of the respondents agreed that the bank uses customer retentions management strategies. Besides, about twenty percent disagreed while the respondents that were not sure or did not know were equal.
Among the respondents that agreed the bank applies the customer retentions management strategies, fifty percent accepted that the application of the customer retention management strategies differentiate the bank and contribute to increased customer retentions and long-term sustainability.
However, fifty percent of the respondents not agree that the application of the customer retention management strategies differentiate the bank and contribute to increased customer retentions and long-term sustainability. In fact, about 72% of the respondents that did not agree think that the bank need to invest in customer retentions management and only thirty-eight percent think otherwise.
Contrary to the expectations, only forty percent of the respondents agreed that the bank’s policies, as well as rules, provide for the electronic banking customer retentions management strategies. About twenty percent of the customers that were interviewed did not agree to the assertions, thirty percent were not sure while ten percent did not know.
Similar observations were made on whether the bank top management recognizes the importance of electronic customer retentions platforms in the general business operations.
In fact, only forty percent of the respondents to the fact that the bank top management recognize the importance of electronic customer retentions platforms in the general business operations. Thirty percent of the respondents did not agree. Moreover, twenty percent were not sure, while ten percent did not know.
Likewise, forty percent of the respondents did not agree to the fact that the bank leaders fail to recognize the significance of the electronic customer relations management services even when they are faced with decreased client services.
However, twenty percent of the respondents accepted the assertion while the respondents who felt that to some extent the bank fail to realize the importance of electronic customer relations management, particularly when faced with reduced customer relations services and those who did not know were equal.
Dismissal results are also observed in the availability of the measuring methods of how the bank utilizes electronic customer retentions management platforms. In fact, only thirty percent of the respondents agreed that the bank has a method of measuring how they used electronic customer retentions management platforms.
However, about forty percent of the respondents did not agree to the possibility of the bank having some method of measuring how they are utilizing the electronic customer retentions management platforms while thirty percent of the respondents did not know.
Concerning the banks output due to the application of customers’ relationship management framework, about thirty percent strongly agreed that the bank’s total annual output increases because of the existing electronic customers’ relationship management framework.
Similarly, forty percent of the respondents agreed to the assertions while only twenty percent either strongly disagreed or disagreed that the total annual output of the bank is not affected by existing electronic customers’ relationship management framework. In fact, only ten percent of the respondents remained neutral to the assertion.
Further findings indicate that about fifty percent of the respondents agreed that the bank’s management understands the segmented nature of the customers. About thirty percent of the people who responded to the interview did not agree to the assertion, while twenty percent of the respondents that attended to the interview did not know.
Besides, over sixty percent of the respondents agreed that the implementations of electronic customer retentions services have many challenges. However, only twenty percent disagreed while ten percent remain neutral.
Moreover, on the question of challenges that act as an impediment to the implementation process of the electronic customers’ relationship management framework increased operating cost and communication channels were distinct and shared equal proportions.
In other words, thirty percent of the respondents agreed that increased operation cost act as an impediment to the implementation process. Similarly, thirty percent of the respondents also agreed to the fact that distorted channels of communications also act as an impediment to the implementation process of the electronic customers’ relationship management framework.
On the issue of bank encouragement and development of the electronic customer’s retentions management as a means of enhancing good working relationship and improving the client’s services over seventy percent agreed that the bank fulfills the function particularly through training of workers on the electronic customers’ retention management system.
In fact, only twenty percent of the respondents disagreed or strongly disagreed on the assertion. However, responses were equal on the issue of firm’s efforts and support directed towards developing and implementing electronic customers’ retentions services and the implementation of electronic customers’ retentions services is sufficient and rewarding.
The number of respondents that agreed was equal to the number that disagreed to the assertions.
Moreover, the findings indicate that the customers were more satisfied with the adoption of electronic customers’ retentions management services. In fact, the number of respondents more satisfied today based on the recognition of the implementation of electronic banking services in managing the customers’ satisfaction is over 50%.
In addition, the respondents that can describe the clients’ satisfaction today based on the recognition of the implementation of electronic banking services in managing the customers’ satisfaction is more than thirty percent. However, only twenty percent of the clients remain in a similar position in relation to the previous year.
Discussions, Recommendations and Conclusion
Discussions and Implications
According to the findings, electronic banking customer retentions services remain critical for the growth and development of the bank. Moreover, the application of electronic banking customer retentions services increases the competitiveness of the ADCB.
Given the fact that most respondents agreed that the bank applies electronic banking system does not necessarily mean that the same electronic systems are used in customer retentions management. In fact, the bank needs to put in place modern electronic systems that are geared towards customers’ retentions management services and that will result in long-term sustainability.
However, the utilization of the banking electronic services is the beginning of the total application electronic systems that will be diversified into customers’ retentions management services. Besides, the results indicate that the bank have been applying the customers retentions management strategies.
In addition, the customer retentions management is one of the strategies that differentiate the bank and contribute to increased customer retentions and long-term sustainability. Within the highly competitive banking industry, the capabilities that contribute to customer retention should be enhanced.
Even though the respondents were divided over the issue, electronic customer retentions management strategies remains critical in enhancing the banks output.
The need for increased electronic customer services is significant for the growth and long-term sustainability of the bank. In fact, investment in the electronic customer retention services will lead to increased convenience in terms of service production and increased customer satisfaction.
In order to attain the desired results on the customer retention services, the management should put in place policies and rules that encourage the establishment of electronic banking customer retentions management strategies.
The establishment of such strategies leads to increased long-term customer retention and the organization’s sustainability. In other words, electronic banking customer retentions management strategies have a positive impact on the bank’s growth and development through sustained operations and competitive advantage.
The establishment of rules begins from the recognition of the importance of electronic customer retentions platforms in the general business operations.
The significance of the electronic customer relations management services should be made, particularly when the bank is faced with decreased client services. Moreover, measuring the electronic customer relations management services forms the basis of the implementation process.
The findings of the study are also in line with the results of other studies that the application of electronic customer relations management contributes to increased output. In fact, the adoption of electronic customer management systems have greater positive impact on the total annual output of the company.
The increased returns contribute to higher financial capabilities, which is essential for long-term sustainability of the firm. Besides, the establishment of the electronic customer retentions management framework needs greater understanding of the customers. In fact, increased customer knowledge is critical in the formulation process.
The implementation process of the electronic customers’ relationship management framework has many challenges. Even though there are many challenges, increased operating cost and communication channels remain to be the most challenging factors.
The understandings of such factors are important in the formulation and execution stages of the framework. Besides, the findings indicate that the implementation of electronic customers’ retention management strategies leads to increased satisfaction. As indicated, increased satisfaction result from improved services the bank achieve due the availability of electronic services.
Recommendation
As indicated in the findings, ADCB should invest in bank need to invest in customer retentions management in order to increase its competitiveness in the market. Besides, the bank should establish policies as well as rules that provide for the electronic banking customer retentions management strategies.
In other words, the bank should put in place measures that encourage the establishment of electronic banking customer retentions management strategies. Moreover, the bank’s management should recognize the importance of electronic customer retentions platforms in the general business operations.
In addition, the bank should put in place the measuring procedures on how it utilizes electronic customer retentions management platforms.
The firm should also be aware of the impediments to the implementation process. Factors such as increased operating and distorted channels of communications act as an impediment to the implementation process of the electronic customers’ relationship management framework.
Most importantly, the banks should encourage the development of the electronic customer’s retentions management as a means of enhancing good working relationship and improving the client’s services. The goal can attained through training of the personnel as well as enlightening the customer of the existence of the electronic customer’s retentions services.
Conclusion
Electronic banking customer retentions services remain critical for the growth and development of the bank. Moreover, the application of electronic banking customer retentions services increases the competitiveness of the ADCB.
As indicated in the research findings the bank should continuously remodel its electronic banking customer retentions services since the electronic banking customer retentions services play a critical role and have positive impact on the bank’s output.
References
ADCB. (2013). Financial overview. Web.
Escrig-Tena, A., Bou-Llusar, C., Beltran, M. & Roca-Puig, V. (2011). Modeling the implications of quality management elements of strategic flexibility. Advances in Decision Sciences, 1(1), 1-27.
Ford, N. (2007). Saudi banking. The Middle East Journal, 37(6), 48-53.
Wright, P. (2007). A refinement of Porter’s strategies. Strategic Management Journal, 8(1), 93-101.