A case study On Wynn resorts. Ltd

The case introduces us to the Wynn resorts which are a corporation which operates high end hotels and big casinos. It was introduced on October 25, 2002 and the chairperson of the hotels is Stephen A. Wynn Company is in the continuous development process it has now built four of the properties. So moving on to the contents of the Hotels and casinos, Wynn resorts have set themselves in the field of hospitality as one of the best and most preferable destination for the tourist because of their excellent service and dedication to their work. Their casinos are one of the best casinos in the casinos world and the quality to the service is the key for them to be succeeding. They have two casinos in different country one is Macau and another is Las Vegas. They both are the most preferable tourist destination and Las Vegas and Macau both are the casino center of the world so setting up their business in two worlds has let them to enter positive cash flows since the beginning. They are best on their hospitality.

So talking about their operation in back days and how have they started their operation in this world lets go back and check their background former chairman and CEO Stephen A. Wynn who have established the brand in the hospitality sector, at first he collaborate with Universal subsidiary Azure USA they both have taken half of the whole stock so that the outsider won’t be controlling the BOD or the management their first project was Wynn resorts in Las Vegas, following the trend Wynn Macau are their second project they again have planned on opening their casino on philippics where they have faced legal problems of corruption and bribe against Okada and Okada also did the same so talking about the positive changes to the world they now have  16,500 employees worldwide with more than 2500 fully equipped rooms. For the world it one of the most highly preferable destination or the resort for the customers their net income lies in billions of dollars yearly they have turnover of 1.0004 billion dollars.

SWOT analysis of Wynn resorts Limited

Strength:

·         They already have established the brand as Wynn resorts

·         Customers prefer their resorts and casinos as their first priority

·         They have license to operate in two of the most favorite destination for gambling one is Las Vegas and another is Macau.

·         Due to their high customer priority they are always on choice of the customers

·         Continuous development in terms of Wynn resorts and casinos has let them adoptive to the market and closer to the customers.

Weakness:

·         Due to their dispute in terms of bribe and corruption in Philippines they have lost some of the trust of customers

·         Chairperson is responsible to make the decisions there are n division of the responsibilities.

·         As they are operating well in two countries I think they have to extend their hospitality services worldwide as other big resorts are doing.

·         They are not matching themselves to their competitor’s products, services.

  Opportunities:

·         As they are planning to extend their operation it will make them more profitable.

·         They have always targeted the most tourist destination so; they have created opportunity to the markets.

·         They can have stronger brand image and higher recognition in the market place.

·         Due to Wynn resorts and other activities people liking and possibilities of emerging or growing market has been increasing.

·         Las Vegas has always been the circle of the gambling destination so, business including Las Vegas will always benefit them.

Threats:

·         Emerging business opportunities will increase the domain complexity and so the competitors will enter to the new market.

·         To operate internationally the domestic countries rules and regulations will make them constraints or bound them for their operations.

·         International Restrictions on the entertainment field will make them suffer

·         Due to their undistributed BOD if one strategy will go wrong other competitors will take over their operations.

Past strategies and present Strategies

As they have covered themselves with the good brand name by giving a good hospitality and services to the customers. The operations of the industry id handled by CEO of the company and they don’t have the distribution of the work. They have created barriers to the outsider ot enter into the BOD and in the planned way they have acquired the shares of the Wynn resorts. They have acquired the shares so that they could minimize the dispute between the management and BOD. Their offering are mainly to the high income level groups whereas to enter into the other Asian market I hope to se them as cost leadership strategy implementing low cost in the Asian places like India, Thailand will let them to empower the market shares. They can also extend to the product of the casinos and they can introduce Virtual casinos to the variety of people. (Pearce II & Robinson, (14th) 2014)

            Tracking competitor’s products and services can also leads them to know the market and competition so they must update themselves to the market.

Conclusions and Recommendations

As the company is doing well in their business and they are grabbing the coming opportunities and as well they are extending their resorts to other countries rather than focusing on the same country. As they have been cutting their other expenses especially marketing cost and other costs they must not focus on cutting the administrative costs and marketing cost. So, they must publicize themselves to the market and shows their distinct features to the market. (Paige, 2009)

They have extended them to the two countries only what I would like to recommend them is to extend them to other markets as well; there are so many best countries to come like Thailand and Malaysia. They must make a smart move looking at their competitors and one step forward than them to capture and groom the market. They must also offers variety and range of services to the variety of customers they must intact every customers. They also must care their brand and do the things that will increase their brand image. As they have always been focused on doing things they must stay focus on what they do and even care their competitors choice and path. Distributing of CEO’s work and responsibility to other parties and other staffs of the company is also key to remain successful in my view point and also they must minimize their legal obligations, that can make negative impressions to the customers.

Bibliography

Paige, H. (2009, 07 14). Slideshare.net. Retrieved from Wynn Resorts Analysis: http://www.slideshare.net/PaigeHannah22/wynn-resorts-analysis

Robinson, J.R. Pearce II, J.A. (12th edition). Strategic Management:Formulation, Implementation and control. Newyork: Mr.grow Hill.

Case analysis On Whole Foods market / Strategic Management MBA

Introduction and Background

The case introduces to the whole foods market it is the company which was introduces by the 25 year old John Mackey with some of his friends, they were the drop out from the university and eager to do something but could not choose the path to do, as they have thought of and plan of they have initially started venture and their partnership grew up from two of the partners they started small natural food store with just small amount of  45000$ collecting it from their some friends and their relatives. But starting a thing is never too easy though the start point is the hardest to enter after entering it to the market the real struggles their comes up so does to the entrepreneurs, they have had hard time paying the rent for the apartment so they were even out from the apartment where they used to store their products as the concept was new the product was not that attractive to the customers through it had some of the segmentation of the customers. Falling rising and going with the life cycle of their product after their hardest time of 2 years they have come up with the Whole food market. In 1978 with partnership with some groceries store, it was by then a big grocery store with 19 employee and 10500 sq ft of space.

While operating they had to face natural disaster of flood, it was so worst that it has washed all their major equipments and their inventory it has led a big loss to the store as it was not insured as they were not prepared for the natural disaster and the loss has to be covered by all of the partners which was quite hard at that time.

When mistakes happen we must agree and rise with it, same happens to the company whole foods again was signed after 28 days of destruction now the partners were not only their partners but the neighbors, creditors and some of the vendors were even included in their teams as this shows the faith and the loyalty to their job, it proves that they already gained some popularity and trust from the customers.

As they rose from the mistake now the time was to grow their store the company now started to groom from one to three one in Austin and another in Houston. They even introduce some of the natural product to their customers under their main brand whole foods market they also have started other ventures except Texas, oh wow to the fortune of the company it has even listed to the 100 fortune best companies to work from 1998 not only this Mr. john got recognition the best CEO of the worlds and in the recent years they were announced as the 100 best corporate citizens magazine. John was the youngest entrepreneur to the world.

 SWOT analysis of Whole foods Market

Strength

·         Variations in the product they almost got 30000 products on their store so we must say product differentiation is their strength

·         Recognition as the organic food maker and seller

·         Some of the awards has let them win the trust from the customers

·         It was even one of the 25 green power planters in U.S.

Weakness

·         As the products are all organic but the price is higher than other non organic products so price sensitive customers will not be choosing their products.

·         They have variation in the product but they don’t have any competitive products to the market they just have their own segment of market and they are happy with it.

Opportunities

·         As people now days wanted to eat organize the demand are higher for those products

·         Health conscious people are increasing day by day

·         international market is open for them if they wanted to enter into the global market

·         Increasing population with increasing and changing mentality of products are their opportunities

Threats

·         Global competition can give them a huge threat

·         Vulnerable market and environment

·         The markets profitable and the chances of entering new competitors are high

·         Innovation and change in the product are also threat for the company.

Strategies Past, Present and Future

While going through the case we came to know that they have used various strategies on the various stages of their lives, as for the marketing they have chose Social media marketing which is growing higher and higher, as they are no 1 in quality they have gone through one strategy of quality and choosing one segment of market for the people who chose quality they are the choice those customers do not care about the money they are paying far as the quality is their key concern.

As on another stage of their lives they have chosen go green movement which has led to the evolution and promotion to their products by renewals sources of energy. As the employee are the one who took care of the office and work they have a very democratic leadership style at their office which led them do whatever the best possible thing is not only this they have a very good performance appraisal way so that their employee could be motivated and aspire towards the accomplishment of their goal.

So we can see the company is in the differentiation strategy as they have more than 3000 products on their pocket. With some new campaign and addressing to the health conscious customers they have led the market and they have won the trust and love of the customers which makes them loyal to their products.

The company has the aim of prosperity and growth inculpate with the service to the customers with the quality they are giving to the customers.

Conclusion and Recommendations

As the company is really doing good in U.S. but only to the limited states so they need to broaden up their heights and come up in the market to the big states like Washington and other snot only this I think they have to enter to the global market as the Europe can also be their big market to grow and the risk will even diversify and it will be easier to stating as they have Already proven to be the best which can be their competitive advantage to gain from the market. CEO of the company has learn from their mistakes they have realized a lot of things while operating so the mistakes like not covering insurance again and not being secured from another place could be the loss to the company, so in this case diversifying their risk investing in something different and minimizing their risk is the responsibility of the company apart from differentiation it should also be diversification of risk.

As they are in the growth stage I think they must use all their pros and all their marketing techniques all the papers, magazines and everything so that competitors would fear entering to the market looking at the portfolio of the Whole foods. They should incorporate corporate responsibility in their mission as they already are giving quality and natural products customers will be more delighted from that campaign.

Hence, company has made them superior from their quality, reliability, and stability and the performance of the company is way better than their other neck to neck competition so retain, regain and groom the market and the growth of the company they must increase the height and the level of their operations through other proactive actions.

Bibliography

adhikari, D. r. (2009). Strategic Implementation. kathmandu: Buddha Publication.

Robinson Jr., R. B., & Pearce II , J. A. (2011). Strategic management Formulation, Implementation and Control-12th edition. The McGraw Hill Publisher.

Training and Development: “Wining attributes for effective training on organizations”

Training and Development: “Wining attributes for effective training on organizations”

Introduction

Organizations that desire to steer their development and mission in the proper direction need to have a staff that is exposed to constant training and evaluation in order for them to progress on a routine basis. Most progressive institutions organize for training opportunities at the workplace in which case the management team of the firm will often conduct the training through their leaders or outsource these services from well-established consultancies. Ideally a good training is dependent on the possession of certain attributes and qualities that every leader must have. This project reports the results from a survey that was carried out in diverse workplaces across the US with regards to the leadership attributes that contribute towards enhancing better training.

The study mainly focused on the critical attributes that can result in appropriate training as well as needed precursors that can improve the training experience based on the available of multiple resource materials. Through its findings, the research elaborated the winning attributes that can improve training in addition to the listing of the various characteristics of a successful organization. The paper will empower different entrepreneurial firms to design appropriate training strategies at the workplaces so as to facilitate staff motivation and come up with administration theories of development. In addition, the training ideals also place a lot of emphasis on the theories and models that can provide appropriate nuances of training such as the theory x and y and even the models of employee motivation by Maslow based on the psychoanalyst perspective. The paper has methodologies, literature review and research implications that can be practically linked to existent cases within firms and institutions today.

Literature review

There is a wide variety of articles and publications that can prelude any research on leadership that is linked with training at the workplace. Angela from the University of Atii Din has in her works expounded on the ideals of servant leadership and how important this aspect is to employees in an organization. Such ideals are consistent with the nuances of Asiya and Takala of gaining competitive advantage by using transformational leadership within the organization. In their works, the latter pair explicates a critical case study of diverse emerging American companies and the ideals they apply in their bid to remain relevant and thrive in a competitive business world.

There is a huge evolution in training within the workplace which has been facilitated by simple skills as well as attributes which are more often inculcated and determined by every situation and this is, rather abrasively, depicted in the basic training manual by Carnevale. In his second book, “Workplace Basics: The Essential Skills Employers Want. ASTD Best Practices Series: Training for a Changing Work Force” he goes further to unravel some leadership skills that can be found in many leaders. On the other hand, the author Elena, on the other hand, delves into the attributes of leadership that can motivate employees in the course of training. This sharply contrasts with the diagnosis of Hepworth and Towler who advocate for an aggressive leader during training at the workplace. Mandel and Shilpa differ with Hepworth and Towler and even assert that aggression and leadership attributes are critically linked to the emotional intelligence of the leaders which is also a phenomenon postulated by both Erik Erikson and Sigmund Freud. Platt also supports this notion by making an analysis of a clinical workplace by employing different motivation theories that a leader may choose to utilize, Yau Zakari presents his theory of motivation within the workplace and attributes of leadership by using yet another case of Nigeria.

Strategic implication and leadership attributes

The study covers many institutions which have amassed experiences and nuances of attributes that can influence the success of any training in the workplace. Many models and paradigms in the history of success in human resources and business management provide a list of characteristics that are evident in many case studies. In many cases, the team leaders effect change by conducting training in their firms and organizations which is done within specific timeframes for the different departments and faculties in an organization. In essence, through the trainings, these traits influence the nature of leaders that are important in impacting the different changes.

During training, motivation was identified as a key element that is seen in inclusive leadership perspectives and which can help an organization to attain success. Accordingly, Down states that the team leaders, are expected to be in possession of specific natural traits certain natural attributes that can resonate with the employees during training sessions. Down strongly advocates for compassionate leadership combined with strong aspects of integrity during the training sessions. A case study in Louisiana exemplifies a training module that addresses different paradigms of management by a team leader through the strategic team of analysis.

In the Clothing industry training, many employees gained inspiration because they could comfortably identify with their team leader because she not only had compassion but integrity as well in handling the employees’ personal matters during the training. Interviews carried out at different levels at the workplace further revealed that the leaders held formal trainings and experience meetings with gurus on a regular basis which fostered trust and respect for team members. These leadership have been attributed to the success and productivity in the workplace as is evident in the GAP industry.

Even though not all scholars and business analysts agree on this aspect, the art of communication in workplace trainings has been said to not only enhance cooperation in the workplace but also motivated employee. A study that focused on twenty two organizations across six different states in the US highlighted the fact that most of the team leaders often employ different visual aids and speech filters in order to drive their points and communicate clearly. A lot of data reveals that the quality of both verbal and written communication during training session enhances the expectation communication and allowances. The employees can easily comprehend the different visual instruments used by such leaders. Carneval Works also reveals the important connection between communication and the proper attributes of an organization. Exceptional organizational skills are often an indication of effective leadership during training and they can be clearly seen through communication and proper preparation.

For instance team leaders at Apple Incorporation during an employee training will be well aware of the modules to offer and the different nuances to include in such modules especially when seeking to convey information regarding the policies of the firms without raising any friction or compromising on the capacity of employees to learn and positively contribute to the organization. Therefore in predetermined contexts, the organized team leaders are capable of enforcing systems that can maintain order while offering guidance for team members in a bid to meet the firm’s needs and its objectives.

Furthermore, different aspects of personal traits that can facilitate circumstantial adjustments at different times are covered by leadership and better training at workplaces. Although it was not a major criterion in many conducted interviews, confidence emerged as a component of training for many leaders because it summed the abilities to communicate effectively and also organize members. The case study of the quarterly training of McDonald’s Departmental store managers every year, it was found out that a confident leader can potentially tap into the abilities of each employee during the training and such leaders were often secure in making decisions and undertaking actions that influence both the training and the team. The self confidence in leaders developed an assurance and motivation for the team and also facilitated the achievement of the theory of self actualization. Confidence was closely linked to respect as well as full flair for current events to effectively deliver the relevant training modules for everybody. A leader that is able to give real lifetime examples in the training modules and give realistic market ranges during the entire training program, enables the employees to adapt to the training mood and also link the objectives of the firm to the competitive market advantage.

Conclusion

Nevertheless, the research revealed that certain leadership attributes are incompatible with the critical requirements of all corporate leaders. Ideally, some leadership attributes lack the virtues of team leaders that are pertinent to creating a business turn in motivating employees and fostering their allegiance. This was evident in firms like Jinnikin Jeans where employee voices were gagged and the form of theory x implemented within the human resource and administration caused every staff to bear and feel the burden of autocratic leadership. In this case, training was not necessary but whenever it was conducted, the staff was usually briefed on new policies and demands hence creating the picture of a machination galore. This case study was an essential demystification of the juxtaposition between good and bad leadership strategies in training and development within different workplaces.

In conclusion, it is important for certain leadership attributes to be exercised during workplace training as they can create the right level of motivation and direction that will facilitate the success of a firm. The research further unveils a combination of winning attributes which leaders can employ to set  standards for competitive advantage and human resource management in their organizations and training sessions. Such traits include confidence, integrity, organization and respect for team members and they play a critical role in determining the success and drive of an organizational team. Nonetheless, the research team placed a lot of emphasis on the ideals of a proper communication being infused in the situational leadership style as they mark the contexts of association and reliability of all leaders in conducting successful training.

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Bibliography

Angela, On. “The New Paradigm: Servant Leadership.”Analele Universităţii Din Oradea: 478.

Asiya, S., Z. Kazmi, and Josu Takala. “Entrenching Strategic Competitive Advantage through Transformational Leadership!.”

Carnevale, Anthony P. Workplace Basics Training Manual. ASTD Best Practices Series: Training for a Changing Work Force. Jossey-Bass Inc., Publishers, 350 Sansome Street, San Francisco, CA 94104, 1990.

Carnevale, Anthony P. Workplace Basics: The Essential Skills Employers Want. ASTD Best Practices Series: Training for a Changing Work Force. Jossey-Bass Inc., Publishers, 350 Sansome Street, San Francisco, CA 94104, 1990.

Down, Roger Wolf Steps. “The C-Drum News.” (2009).

Elena, Ţebeian Adriana. “How To Improve Employee Motivation And Group Performance Through Leadership–Conceptual Model.”The Annals Of The University Of Oradea: 1086.

Hepworth, Willie, and Annette Towler. “The effects of individual differences and charismatic leadership on workplace aggression.”Journal of Occupational Health Psychology 9, no. 2 (2004): 176.

Mandell, Barbara, and Shilpa Pherwani. “Relationship between emotional intelligence and transformational leadership style: A gender comparison.”Journal of business and psychology 17, no. 3 (2003): 387-404.

Platt, Linda S. “Leadership Skills and Abilities, Professional Atributes, and Teaching Effectiveness in Athletic Training Clinical Instructors.” PhD diss., Duquesne University, 2000.

Ya’u, Yunusa Zakari. “The youth, economic crisis and identity transformation: the case of the Yandaba in Kano.”Identity transformation and identity politics under structural adjustment in Nigeria (2000): 161-80.

Different approach to Business Ethics

The different approach to business ethics are as follows:

Utilitarian approach: 

Some ethicists emphasize that the ethical action is the one that provides the most good or does the least harm, or, to put it another way, produces the greatest balance of good over harm. The ethical corporate action, then, is the one that produces the greatest good and does the least harm for all who are affected -- customers, employees, shareholders, the community, and the environment. Ethical warfare balances the good achieved in ending terrorism with the harm done to all parties through death, injuries, and destruction. The utilitarian approach deals with consequences; it tries both to increase the good done and to reduce the harm done.

Moral Rights Approach:

choose whether or not selections and actions area unit to keep with the upkeep of elementary individual and cluster rights and privileges. And conjointly includes the rights of men to life and safety, a customary of honestness, privacy, freedom to specific one conscience, freedom of speech, and personal property.

Social Justice Approach 

Justice as an ethical approach is where all humans are treated equally through society, regardless of rank, position, class, creed, or race. This is also known as the fairness approach in business ethics theories. If people are not treated fairly -- such as one employee receiving higher compensation than another -- a justifiable reason must exist, such as higher technical skills or the exclusiveness of a job position.

Reference

Pearce II, J. A., & Robinson Jr., R. B. (2011). Strategic Management. Formulation, Implementation and Control (Twelfth Edition). New York, USA: McGraw-Hill Companies.

Scotts Miracle – Gro Company/ Strategic Management / MBA

Introduction and Background

Scotts is an American company with its headquarter in Marysville, Ohio the company begins its operation since 1868 up to now it has already carried a long life of more than 147 years and it is even continuing in its operations, the company sells lawn seed at the beginning at now as they have grown themselves on the very bigger industry they are now the market leader of the lawn and garden market as well. They have marketed and sell themselves in all over the places of America but as they are from North America they are the market leader in North America and got bigger scope in Europe as well. They have not made themselves integrated to one brand as the company has diversified themselves with the related products and the brands like Evergreen, KB, Fertiligene, and the other brand of Miracle-grow are their famous brands.

The Scotts company are not only limited to America as they have extended themselves to Europe and as well as to Asia-pacific. The main offerings so far I knew are the consumer fertilizers, plant foods even soil and mulches and all those pest controls, bird food and many more. Their head brands are the Miracle-Gro and Ortho and the name Scott represent the agent for the marketing and development of the product also they are responsible for the distribution of the product. The Scotts companu they have made it large up to 160 locations and with following net income of 174.4 Million dollars.

SWOT analysis of Scott Miracle – gro company (SMG)

Strength analysis of SMG

·         As they are the market leader and they have the leadership to the market this has been their no one strength in my view.

·         As company has been longer than 140 years a long history carries a long story of success which gives the trust among stakeholders, customers, suppliers.

·         The long history shows that the company is innovative and even adoptive to the dynamic culture.

·         The cost-leadership strategy has made them earn the loyalty from their beloved customers which now have been a greater strength for Scotts.

Weakness analysis of SMG

·         As their operations are not limited up to the local boundaries other global issues are the weakness.

·         High overhead costs for the company

Opportunities analysis of SMG

·         As they have the money and the customers all the opportunities lies in their hand in my view latest technology are the opportunities for the company.

·         As they are innovating, modifying the products and services to the market this is gaining their goodwill and more and more customers are intact with the company.

·         They have high growth potential it’s because of the globalization as they have the competitive advantage of serving customers and a long history behind them which can lead them to the global market and make them a market leader.

·         They have opportunities of mergers and acquisitions with the other international brand if needed to make the company grow larger and bigger.

Threats analysis of SMG

·         Local and global competition to the brands like American Vanguard Corporation, china green agriculture Inc is some competition to the SMG.

·         There are high threats of the international law for the agro products .let’s take an example of Srilanka  as it has bans import of glyph sate which is the agro products and some of the African countries like Nigeria, cape town also have banned several agro products which affect the business of the SMG. So the international law is a threat to the company to grow.

·         Commodity prices are not fixed as the market changes so does the price so we must say that the volatile market is also the threat for SMG.

Past, present and future strategies

As we see most company’s does price skimming at the first to attract those customers which are early adopters or innovators who will buy at any cost to be the first adopters and then they differentiate the product and goes for the cost-leadership like Samsung, LG has done on their operations

 Over viewing at SMG I have found out that they have used various strategies on various stages of their lives in order to sustain, grow and be profitable in the market. From generations to generations consumers are the key priorities of the SMG and believe as the trusts are better earned and it comes through the long practice of almost 147 years. They have given the quality and one standards to the customers they have gone to the product development and also after some time as they have benchmarked themselves they introduced more products to the market and operate the business and support communities through their practice. So concluding their past strategy I say they have sustainability as their main priority and the strategy to live and grow to the community they have incorporated a long term vision of years and years so that they cans serve to the community and be gained from the community.

Present strategies for SMG must be the adaptation to the global market as they are introducing themselves to the global market the strategy for them is the and strengthen their product strategies to make happen in the global world. Knowing and utlizatation of the HR that SMG has must also be the company strategy, prolonging the maturity stage and also using latest technology

Future strategies for SMG could be the identification of the market niches to capture even the tiny market and creating competitive advantage through it. As the products are related to the agro they can also go the distinctive competitive advantage in the market it only happens through innovation and creativity.

Conclusion and recommendations

For the Scotts miracle company as they are already a market leader and they earn more than 35% of share of the market only themselves which is the competitive advantage for them so, as to continue the prosperity and growth they must adopt newest technology and they have to put up the best HR to remain on their place. As they are already no 1 they must keep their place through various strategies and through various ways of tracking consumer’s minds and capturing their heart.

 

 

 

Bibliography

Agrawal, G. R. (2010). Strategic Management. Kathmandu: M.K. publishers.

The Scotts Miracle-Gro Company. (2015, July 6). In Wikipedia, the Free Encyclopedia. Retrieved 15:05, August 9, 2015, fromhttps://en.wikipedia.org/w/index.php?title=The_Scotts_Miracle-Gro_Company&oldid=670232572

A Research Proposal on Customer Satisfaction on Commercial Bank of Nepal

A Research Proposal on Customer Satisfaction on Commercial Bank of Nepal

Chapter-1

Introduction

1.1  Background

Banking sector in Nepal is facing a rapidly changing market. This is also known as the late effect of world financial crisis. In addition, the impact of the economic problems and financial crisis among the financial institutions creates a great challenge for the overall banking sectors. At this situation aiming for the customer satisfaction is the most challenging task for banks. Through the satisfied customers, a bank can easily measure the effectiveness of the business, its potential and position in the industries and the areas that are needed to polish and improve. But gathering a satisfied customer is not an overnight miracle but with the full of patience and bountiful of effort.

It is a well known fact that no business can exist without customers. So they must be satisfied.  More than any other, banking is a customer oriented services industry and Nepalese banks have started realizing that business depends on client service and the satisfaction of the customer. Customer satisfaction is the key factor for customer retention and thereby the banks success. So identifying and improving the factors that can limit the satisfaction of customer is the crucial step for the bank which wants to be a step forward than its competitors.

Customer satisfaction is an ambiguous and applied concept and the actual manifestation of the state of satisfaction will vary from person to person and product/service to product/service. The state of satisfaction depends on a number of both psychological and physical variables which correlate with satisfaction behaviors such as return and recommend rate. The level of satisfaction can also vary depending on other options the customer may have and other products against which the customer can compare the organization's products. Among several factors; Quality, Timeliness, Efficiency, Ease of Access, Organizational environment, Commitment to the Customer and Innovation, Behavior of employees, Willingness to solve problems, friendliness, knowledge level, communication skills etc. are some major factors that affect the satisfaction of customer. These factors are used for measurement and continuous improvement of customer satisfaction.

Machhapuchchhre Bank Ltd was founded in 1998 as the first regional commercial bank to start banking business from the western region of Nepal with its head office in Pokhara. It is one of the full fledged commercial bank operating in Nepal; and it ranks in the top most among the private commercial banks. With its past success and experience MBL is striving to facilitate its customers’ needs by delivering the best of services in combination with the state of the art technologies and best international practices. But its business environment is not same as it was in the past. Its business environment is more complex with the entrance of powerful competitor, rapid change in customers’ service/product expectations, increasing employee turnover, possible cross sales and with many other factors. So, before moving to the something new and continuing existing one, it is necessary to identify the factors affecting the satisfaction and its current level.  

1.2 Statement of the Problem

Customers have expectations and criteria when they judge whether the provided banking services is satisfactory or not. At the same time, due to the high competition in a banking sector, the perception of customers and potential customers are also divided according to the services that they want to achieve. The proper identification of customer satisfaction helps to retain customers and to increase brand awareness, profitability and effectiveness of bank’s services. These are the major customer oriented opportunities and challenges for the banking sector in Nepal, so the Machhapuchchhre Bank Ltd’s. Among the different problems regarding customer satisfaction, followings will be the major concern of this study.

i.        What are the factors affecting the customer satisfaction of MBL?

ii.      How the MBL can gather the customer satisfaction, which is the same focus of other competing banks?

iii.    What are the most satisfactory factors that are provided by competing banks to its customers?

iv.    What types of product/services are expected by MBL’s customer in future?

1.3 Objective of the Study

General objectives:

i.        To identify, if any, possible way to increase customer satisfaction.

ii.      To explore the factor affecting the customer satisfaction of Machhapuchchhre Bank Ltd.

Specific objective:

iii.    To explore and analyze critically the customer satisfaction of Machhapuchchhre Bank Ltd.

1.4 Research Hypotheses

The following are the possible alternative hypotheses in this study.

H₁: Competency of the bank has positive impact on customer satisfaction.

H₂: Responsiveness of the bank has positive impact on customer satisfaction.

H₃: Timeliness of the bank has positive impact on customer satisfaction.

H₄: Online banking of the bank has positive impact on customer satisfaction.

H₅: Communication of the bank has positive impact on customer satisfaction.

H₆: Credibility of the bank has positive impact on customer satisfaction.

H₇: Customer and Social welfare program of the bank has positive impact on customer satisfaction.

H₈: Appearance of the bank has positive impact on customer satisfaction.

H₉: It is expected that customer are satisfied with overall loan and deposit services of bank.

1.5 Operational Definitions and Assumptions:

Customer satisfaction is the result of interaction between the consumer’s pre-purchase expectations and post purchase evaluation. More generally satisfaction is the state of liking or disliking the services/product after experiencing it. Here, consumer/customer are any individuals or households or organizations that use goods and services generated within the economy. Also, the banking services includes: bank accounts, personal loans, commercial loans, issuance of cards (debit, credit, ATM) and processing of their transactions etc. The customer satisfaction measurement variable can be defined as follows:

a.      Employees: Employee characteristics and performance related variable directly affect the satisfaction of customer. This includes:

i.        Responsiveness: The willingness of employees to help customers and provide prompt service. It also includes the speed of responses to complaints.

ii.      Friendliness: Friendliness helps to increase quality of service /product. Employees individual attention giving, caring to customer, etc are measured here.

iii.    Skill and knowledge: Skill is measured by the way how employee performs their task and delivers to customers. The employees’ skill highly depends on their education level.

iv.    Timeliness: How fast the employee can deliver the demanded services by their customers.

v.      Communication: Understandable, acceptable, informing about facility and possible risks etc.

b.      Product and Services: It includes all product and service (explained above) related factors of the bank.

i.        Variety: Availability of same category services/product in a multi form, benefit and prices. (i.e. Yuba bachat, child saving etc.)

ii.      Price: The customer pays for receiving product or services from the bank.

iii.    Special services: It includes services like ABBS, online transaction etc.

iv.    Appearance of the bank: The color combination, attractiveness of inside and outside decoration, parking style etc.

v.      Service process: The step that should be completed before getting product or services from the bank. (i.e. the process to deposit, borrow loan etc.)

c.       Image: Primarily this criteria includes,

i.        Credibility: It includes employees trust worthy in transactions and other services, banks ability to make secure transactions and assure security etc.

ii.      Technological excellence: What types of technology is used by the bank. In what extent it serves the customers expectations.

iii.    Customer and social welfare: The bank’s activities for customers’ and social welfare. (i.e. stock ownership opportunity for customers, donations to poor students in school etc.)

d.      Access: Network expansion of the bank, branches location, as well as observed troubles in the service system (strikes, damaged ATMs, etc.), availability of service access (i.e. ATM both access, Bank service access, etc.) are included in this criterion.

Chapter-2

Literature Survey and Theoretical Framework

2.1 Literature Review

Customer satisfaction is an applied term that determines on how products and services supplied by a company meet or surpass customer expectation. Following Cronin et al. (2000), conceptualize customer satisfaction to be an evaluation of an emotion, reflecting the degree to which the customer believes the service provider evokes positive feelings. Customer satisfaction reflects the degree to which a consumer believes that the possession or use of a service evokes positive feelings. Cronin et al.’s (2000) various models and theories that have been developed to this end (Oliver, 1980; Swan and Trawick, 1980; Tse and Wilton, 1988; Anderson and Sullivan, 1993; Patterson et al., 1997), indicate that customer satisfaction is related to the size and direction of disconfirmation, which is defined as the difference between the post-purchase and post-usage evaluation of the performance of the product/service and the expectations held prior to the purchase (Sharma and Ojha, 2004).

In banking industry, being competitive is already a given factor. Customers expect that banks should be strong enough even if there are uncertainties in the country, most especially in the financial stream. In the long run, the customer satisfaction can be the key element of the organization to prepare another strategy (Gitman and McDaniel, 2005). Thereby it can enhance its further success and long lifecycle.

The dream of every organizations and so the banks;  having a satisfied customer will be injection for its success and basis to continue its business lifecycle, if achieved through continuous delivery of satisfactions by reducing resistance and reluctance of the customers towards the bank’s offered products and services. If not, just a respite and waste of time and fund.

However, keeping customers is also dependent on a number of other factors. These include a wider range of product choices, greater convenience, better prices, and enhanced income (Storbacka et al., 1994).

Whereas, Ioanna (2002) further proposed that product differentiation is impossible in a competitive environment like the banking industry. Banks everywhere are delivering the same products. For example, there is usually only minimal variation in interest rates charged or the range of products available to customers. Bank prices are fixed and driven by the marketplace. Thus, bank management tends to differentiate their firm from competitors through service quality. Service quality is an imperative element impacting customers’ satisfaction level in the banking industry. In banking, quality is a multi-variable concept, which includes differing types of convenience, reliability, services portfolio, and critically, the staff delivering the service.

The study showed that increased use of service quality and professional behaviors (such as formal greetings) improved customer satisfaction and reduced customer attrition. This is well documented in a study by Leeds (1992), who documented that approximately 40 percent of customers switched banks because of what they considered to be poor service. Leeds further argued that nearly three-quarters of the banking customers mentioned teller courtesy as a prime consideration in choosing a bank.

Several studies are conducted in this setting regarding the customer satisfaction. In those studies, the contradiction occurs in variables that affect the Customer satisfaction. In some studies, price and variety of product/services are major factors affecting the customer satisfaction with some other. While in some other studies there is an inverse finding that there is no possibility to differentiate their price and services, thereby they have less or no impact in Customer satisfaction.

2.2  Theoretical Framework

There are several variables that affect the Customer Satisfaction level. In this study only organizational factors are considered to measure customer satisfaction of MBL. It is expected that those independent variable have more variability with dependent 

Chapter-3

Methodology

Methodology refers the steps that will be adopted in this study. The more systematic method gives the more actual results for the study. The method for this study includes research plan and design, description of sample, data collection procedure and data analysis plan.

3.1 Research Plan and Design

A research design is the planned specification of methods and procedures for acquiring the information needed to structure to solve the problems.

The research design used in this study is descriptive. It includes survey and fact finding enquiries to fulfill different objectives. It will use the available data from primary and secondary sources. Structured questionnaire will be used to gather the information through primary sources.

3.2 Description of the Sample

In this study customer is the single sampling segment. The sample size of thirty five despondence will be used by considering the budget and time constraints. Among them twenty five respondents will be the customer of MBL and remaining ten respondents will be the customer of any other two banks. The entire respondents to meet the determined sample size will be selected randomly in six days of data collection. But, definitely the more effort will be given to include the respondents as explained above (i.e. male and female, those who know well about the quality of services provided by MBL and its competitors and the like).