Tuesday, May 5, 2020

Quality Management Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Strategic Quality Management. Answer: Introduction Performance measurement can be defined as the quantifiable indicator which is used to assess the well-being of an organization and identifies whether business is achieving their desired objectives. Furthermore, these measures clearly identify those areas or aspects of the organizational process which requires improvement and also those areas which are working well. Moreover, performance measures to evaluate the productivity of their company during a given time period. This report is mainly focused upon the quality management and performance measurement in Guaranty Trust Bank Plc. This bank is headquartered in Nigeriaand was founded in January, 1990 (GTBankPlc, 2017, p.14). GTBank Plc. offers all the financial services to its customers and includes online banking, corporate banking, retail banking, investment banking as well as the assets management services. The report describes the identification of the areaswhich requires improvement in GTBank Plc.,and for that some of the performa nce measurement tools and techniques like 360 feedback, balanced scorecard, management by objectives and self-evaluation technique will be used for measuring the performance of their customer service.Furthermore, the report also focused towards the recommendation of tools and techniques which can be used by the company for measuring their customer service performance (Sallis, 2014, p.4). Body It is essential for every company to measure the performance of the organizational process as well as the performance of the employees. It is done in order to recognize the ability of the firm or its people in carrying out the activity of a company.For this aspect, GTBank Plc. will carry out quality check in order to identify its performance in the financial market. Furthermore, various tools can be applied for the measurement of performance process by the firm. Moreover, various authors support this measurement using different tools, however, there are some authors who opposes with by giving a logical reason. According to the views of Kuhlmann, 2010, p.340 a manager collects the information, analyzes it and report the information about the performance of an individual and of an organizational process (Kuhlmann, 2010, p.340). It is done in order to identify the abilities of organizational process. Furthermore, it is considered to be the most essential activity which is carried out by many organizations these days in order to analyze their ability to work and compete in the competitive market. Through this, organization can come to know about their position and also they may come to know whether desired standards have been met or not. And if not, how much is the deviation (Goetsch Davis, 2013, p.16). However, Nudurupati et.al, 2011, p.280 opposes it and commented that it incurs heavy cost to the organization and this does not give accurate result to them (Nudurupati et.al, 2011, p.280). Moreover, the result can be misleading because the tools used may get fail to give accurate result to the organization. Therefore, the measurement of performance in an organization is only a waste of time activity. Whereas, LeRoux Wright, 2010, p. 580 supported the argument and stated that by analyzing the performance standard in an organization provides better understanding of cross-functional performance. Moreover, measuring the performance of right things help in making those things better. Further, organizations do performance measurement in order to bring improvement in its process according to the latest trends prevailing in the market. Moreover, it also allows the organization to bring control over the risk which really matters(LeRoux Wright, 2010, p. 580). GTBank Plc. also does performance measurement in order to stay ahead in the competition because through this they come to know about their current performance and the ability of the process. Generally organizations measure the performance of individuals, system, their business process, their offerings, etc. for various reasons which have been stated in the earlier discussion. Similarly, GTBank uses various performance measures in order to stay ahead in the competition and that is the reason it has become the central bank in Nigeria for thefirst time. Furthermore, company uses theperformance measures tools for improving their performance. The firm uses balanced scorecard, benchmarking and performance appraisals for the employees and other processes of the firm (Kuhlmann, 2010, p.340). This way the bank has improvised many of its processes and employees performance. According to Millar Hall, 201, p.930 all these performance measures used by GTBank Plc. may or may not be effective because all of them do not provide accurate result to the company. However, the bank is in support of these tools which are being used by them as it has providedenormous success to the firm (Millar Hall, 2013, p.930). Furthermore, the adequacy and the reliability of these tools can be checked in order to prove them effective.Furthermore, these tools can be tested and justified in order to understand its effectiveness. First tool used by the GTBank is balanced scorecard. This tools is a management system which organizations uses for the purpose of communication regarding their accomplishment, alignment of the daily wok which every individual will be doing with strategy. Measurement and monitoring of the progress against the strategic targets.Furthermore, this system does the connection of dots in between bug picture strategy elements like vision, mission, strategic foc us areas and core values. There are four aspects of analysis of BSC and that are financial perspective, customer perspective, business production process perspective and learning growth perspective (Sadikoglu Zehir, 2010, p.20).Moreover, this tool has adopted balanced and comprehensive approach for the purpose of judgment and control over the performance of an organization. It facilitates communication and understanding of the goals of business and its strategiesthroughout all the levels. It helps in better control and aids in bringing improvement by showcasing all the perspective of the company. However, this tool uses lot of time in the analysis process because it is not just a one night process, hence time consuming. Further, the four aspectsdo not describe the entire areas of the organization as many time small areas get avoided. Thus, this tool not always provides accurate feedback but its advantages are more than its limitations. Therefore, it can be considered as the best t ool for measuring performance of the company. Further, GTBank Plc. is also using SQM method for assessing their customer service performance. SQM is an acronym for Service Quality Management which can be defined asthe collective effect of service performance in organization that determines the degree of satisfaction of a user of the service. This tool is mainly used in service based organization that is why bank has adopted this tool to measure and monitor their customer service performance (Millar Hall, 2013, p.935). As it is known that various types of services are offered to customers in a bank like transaction service, query solving service, card services, cash deposit/withdrawing services, loan service, etc. so there are chances that network performance can put more complex impact over the service quality. For that aspect, SQM is required by the organization. However, to install this measurement tool, two major software building blocks would be required for proactively managing the service quality and that two software are a powerful data-aggregation engine and an end-to-end service-mapping tool. This may incur heavy cost for the bank and is not an optimized idea. The thirdtool used by company is benchmarking where a best ranked performance get set as a standard for the company. This tool helps in the implementation of new and creative ideas, it increases the competition among the employees which enhances their performance and this identifies the essential activities. However, standards of the company get stabilize and it provides insufficient information (Ipeirotis Wang, 2010, p.60). Moreover, it decreases the results of the firm and gives less customer satisfaction. Therefore, this tool is not adequate and reliable. Thirdly, GTBank uses performance appraisal to assess the performance of their employees. This tool enables the bank to document the employee performance over a specified time period. Furthermore, this allows the manager to provide accurate feedback to the employees. However, if it is not done in a proper manner then it can give negative experience and also this promotes biasness in the organization. Hence, this tool can be consid ered reliable up to certain extent (Oakland, 2014, p.40). Moreover, there are two more measurement tools which can be recommended to GTBankfor measuring the performance of the organizational process. One is 360 degree feedback tool where manager can assess the performance of the organization, employees, its system and process. Furthermore, the benefit of this tool is that it provides a wider perspective about perception of others. Along with that, more enhanced awareness and relevance of competencies. However, through this honest feedback cannot be achieved through it but this tool provides a more rounded view of the performance of organizational (Nudurupati et.al, 2011, p.280). Along with that, bank can also use management by objective and this is a result-oriented process and it focuses on setting and controlling goals (Millar Hall, 2013, p.934). Further, all managers have a clear idea of the essential areas of their work. Moreover, it makes individual aware about the organizational goals on a regular manner. However, it takes many years to be effective but greater participation may improve morale and communication. Therefore, this tool can be highly recommended to the GTBank Plc. so that they can measure its performance in an effective manner. Along with these tools, there are two more tools which can be used for measuring the performance of organizational processes. One is Lean Six Sigma where collaborative team effort can bring improvement in the performance of organizational process by systematically eliminating waste and reducing variations. This methodology has been made by combing lean enterprise and Six Sigma in order to eliminate the seven type of wastage in a firm. Therefore, GTBank Plc. must include this method for performance measurement so that less wastage of efforts can be done and also deviation can be reduced. Therefore, it is the most recommended tool for the bank. In addition to this, the other tool which can be recommended to GTBank Plc. is Pairwise Ranking which is also known as Preference Ranking. It is a tool for setting priorities in between various options available. In this, every individual item or process or person is compared in a direct manner against other item, process or individual in order to emerge with a ranking from highest to lowest (Sadikoglu Zehir, 2010, p.14). Furthermore, it is used for determining the main preference or priorities or problems of individual for the set of items, subject or process. Moreover, this tool can also be used for finding out the criteria for decision making. One more tool can be suggested to the bank is SERVQUAL in which the research instrument is used to capture the expectations of the customers. This will be highly useful for the GTBanks plc. to capture the feeling and emotions of their customers. It is built on the expectancy-disconfirmation paradigm in which service quality is understood as the extent to which pre-consumption expectations of the quality of the consumers are confirmed or disconfirmed by using their actual perceptions of the service expectations (Franco-Santos, Lucianetti Bourne, 2012, p.82). Therefore, this will help the bank to analyze the performance of customer service quality and can monitor it to maintain the quality service at bank for longer period of time. Further, these tools must be implemented in the bank using a whole process. The company does the planning of using these suggested tools. For this manager of bank can assign the responsibility of its team for taking feedbacks from all the employees and each part of the organization. Later, manager set the standard for the organization and employees performance. Further, all the feedback will be analyzed by the manager and actualswill be matched with the set standard. Moreover, the manager finds the deviation and applies controlling technique in order to bring improvement in the process (LeRoux Wright, 2010, p.575). Further, manager will take follow up every time in order to maintain the improvement. Conclusion From this file, it can be concluded that performance measurement helps in improving the business process and individual performance so that company can stay ahead in the competition. Further, GTBank Plc. can bring improvement by implementing 360 degree feedback and management by objective so that more improvement can be brought in the company. References Journals and Books Simons, R. (2013).Performance Measurement and Control Systems for Implementing Strategy Text and Cases: Pearson New International Edition. Pearson Higher Ed. Nudurupati, S. S.et.al.,(2011). State of the art literature review on performance measurement.Computers Industrial Engineering,60(2), 279-290. Franco-Santos, M., Lucianetti, L., Bourne, M. (2012). Contemporary performance measurement systems: A review of their consequences and a framework for research.Management accounting research,23(2), 79-119. LeRoux, K., Wright, N. S. (2010). Does performance measurement improve strategic decision making? Findings from a national survey of nonprofit social service agencies.Nonprofit and Voluntary Sector Quarterly,39(4), 571-587. Kuhlmann, S. (2010). Performance Measurement in European local governments: a comparative analysis of reform experiences in Great Britain, France, Sweden and Germany.International Review of Administrative Sciences,76(2), 331-345. Millar, R., Hall, K. (2013). Social return on investment (SROI) and performance measurement: The opportunities and barriers for social enterprises in health and social care.Public Management Review,15(6), 923-941. Sallis, E., 2014.Total quality management in education. Routledge. Ipeirotis, P.G., Provost, F. and Wang, J., 2010, July. Quality management on amazon mechanical turk. InProceedings of the ACM SIGKDD workshop on human computation(pp. 64-67).ACM. Sadikoglu, E., Zehir, C. (2010).Investigating the effects of innovation and employee performance on the relationship between total quality management practices and firm performance: An empirical study of Turkish firms.International Journal of Production Economics,127(1), 13-26. Goetsch, D. L., Davis, S. B. (2013). Quality Management for Organizational Excellence: Introduction to Total Quality. Japan: Pearson Education International. Oakland, J. S. (2014).Total quality management and operational excellence: text with cases. Routledge. Online GTBank Plc. 2017.[Online].Available through https://gtbank.com/about-gtbank/47-corporate-citizenship/csr .[Accessed on 6th May, 2017].

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