The Effect of Customer Service Strategies on Corporate Performance in Ghanaian Banks
CHAPTER ONE
Objectivesย ofย theย Study
Theย generalย objectiveย ofย theย studyย wasย toย establishย customerย serviceย strategiesย effectย onย bankย performanceย in Ghana,ย aย surveyย ofย selected commercial banksย in Bantama town.
Specificย Objectives
- To determine the effects of human resource management strategies on performance of commercial
- To evaluate the effects of technological strategies on performance of commercial
- To examine the effects of service delivery environment strategies on performance of commercial banks.
CHAPTER TWO
LITERATUREย REVIEW
Introduction
This chapter reviewed literature in support of customer service strategies effect on bankย performance.ย Itย entailsย theoreticalย review;ย Resource-basedย viewย theory,ย Informationย Technology alignment model and Attribute quality service model. Also, the chapter tackledย empiricalย reviewย and conceptual framework.
CHAPTER THREEย
RESEARCHย METHODOLOGY
Introduction
This chapter presents the methodology used in carrying out the research. The chapter outlined philosophical paradigm adopted for the study, research design, target population, sample size and sampling technique and data collection instruments, validity and reliability and procedures. In addition, it explained the operationalization of the study variables as well as methods of analyzing the data.
Researchย Design
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The study employed a descriptive survey research design where the researcher sought toย collect information from parents. This design accommodates valuable and unique argumentย differentย from using other approaches as it studies things in detail and discover what wouldย be impossible to find if other designs was used. The descriptive design adopted becauseย descriptive studies are not only useful for fact finding but often result in the formulation ofย importantย principlesย ofย knowledgeย andย solutionย toย significantย problemsย (Yin,ย 2004).ย Aย descriptiveย surveyย designย providedย availableย sourceย ofย informationย forย gainingย knowledgeย and insight into the customer service strategies and corporate performance in Ghana at selectedย commercialย banks in Bantamaย Town, Kumasiย County, Ghana.
CHAPTERย FOUR
DATAย ANALYSIS,ย INTERPRETATIONย ANDย DISCUSSION
Responseย Rate
The study targeted 61 respondents being top management level consisting of retail bankingย managers; branch managers; corporate managers; ICT managers and customer experienceย managers.ย Fromย theย totalย sampleย sizeย ofย 65ย members,ย 89%ย positivelyย responded.ย Furthermore,ย Babbie (2007) suggested that any return rate over 50% canย be reported, thatย over 60% is good, and that over 70% is excellent which was exceeded by the survey asย indicated by the surveyโs response rate. This therefore indicated that the study had more thanย sufficientย responseย rate.
CHAPTERย FIVE
SUMMARY,ย CONCLUSIONSย ANDย RECOMMENDATIONS
Introduction
This chapterย focuses onย summary of the findings, conclusion and policy implications basedย onย theย objectives findings and areaย ofย furtherย study.
Summaryย ofย theย Findings
From the results majority of employees working at commercial banks are between 26 yearsย and 35 years while the least were aged above 56 years implying that the banks were keen onย attractingย young employeesย who were vibrantย and energeticย crucialย forย the growth of theย bank. The findings showed that majority of the employees had degree while the least hadย diplomas. These findings showed that the institutions had employees with high literacy levelย which plays a great role in improving the performance of the bank. The findings on theย position held by the respondents indicate that a majority were customer experience managers.ย It also indicated that the respondents were drawn from each of the sector of the bank allowingย the research to gain a clear perspective of the bank. The findings length served in the bankย indicated that a majority had served between6-10 years while the least had served for over 21ย years. These findings implied that the respondent had adequate experience in their area ofย workย and wereย thereforeย inย aย positionย to provideย relevant informationย forย theย study.
- Human Resource Management Strategies and Performance of Commercial BanksH01: There is no significant relationship between human resource management strategies and performance of commercial banks From the results, the study rejected the null hypothesis (ฮฒ = 0.226, p = 0.153). The regression results indicated that human resource management strategies did not have a direct effect on performance of commercial banks with a beta coefficient of 0.226 and significance of (p=0.153). These results implied that for a unit increase in human resource strategies, there were 0.226 increases in performance.
Technologicalย Strategiesย andย Performanceย ofย Commercialย Banks
H02:ย Thereย isย noย significantย relationshipย betweenย technologicalย strategiesย andย theย performanceย ofย commercial banks
From the results, the study rejected the null hypothesis (ฮฒ = 0.586, p = 0.000). The regressionย resultsย indicatedย thatย technologicalย strategiesย hadย aย directย effectย onย theย performanceย ofย commercial banks with a beta coefficient of 0.586 and significance of (p=0.000). Theseย findings indicated that the adoption of ICT in the commercial affects the performance ofย banks.
Serviceย Deliveryย Environmentย Strategiesย andย Performanceย ofย Commercialย Banks.
H03ย There is no significant relationship between service delivery environment strategies andย performanceย ofย commercial banks
The study rejected the hypothesis (ฮฒ = 0.206, p = 0.016). The regression results indicated thatย service delivery environment strategies had a direct effect on performance of commercialย banks with a beta coefficient of 0.206 and significance of (p=0.016). These findings showedย that the service delivery environment strategies in commercial banksย affect the performanceย ofย financial institutions.
Conclusions
The study found out that human resource management strategies positively affects performance of commercial banks since proper communication channel within the organization enhances communication effectiveness between management and employees in commercial banks. This therefore improves the performance of banks. It can therefore be concluded that every organizations especially the commercial banks need to strengthen reward system, improve internal and external communication and last but not least enhance job satisfaction.
The results also revealed that technological strategies enhances banks performances sinceย internet banking has low maintenance costs leading to high levels of returns in the bankย whereby customers can withdraw or deposit money through the phone than the customerย walking intoย the bank. It can therefore be concluded that commercial banks should put upย ATMs,ย promoteย internetย bankingย and lastย butย not leastย enhanceย branchย networking.
Inย additionย the study foundย outย thatย service delivery environmentalย strategiesย positivelyย affects performance of commercial banks, this is due to the quality of service the bank offersย since every section is designed to serve every customer depending on his or her request suchย as inquiries, account opening and many others.ย In conclusion, commercial banks shouldย ensure proper physical aspects, improve interior design of the place and last but not leastย promoteย ambience.
Recommendations
From the findings, the following recommendations were made: the study recommends that the management needs to implement proper human resource management strategies; reward system, communication and job satisfaction which enhance employee productivity hence increase firm performance; the study also recommends that management should adopt technological strategies; ATMs, internet banking and branch networking, since technology is a global phenomena that is widely used and accepted by many, Commercial banks should therefore improve and adopt technology in their day to day business. Last but not least,ย commercial banks should incorporate service delivery strategies since it increases customerย satisfaction and improves bank performance. In a nutshell, top level managers should reviewย the vision and mission of their institutions to strategically fit with changing customer needs inย theย dynamicย market.
Suggestionsย forย Furtherย Studies
From the study the following research studies were proposed, so as to improve the findings ofย this study. The same study should also be carried out in other counties so as to avoid biasnessย ofย theย results.
- Effects of customer satisfaction on performance of commercial banks in Accra
- Impacts of adoption of ICT on customer satisfaction in commercial banks in
- Customer service strategies and performance of public organizations
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