HR Strategy
Read Abstract
Mountain Bank
Strategies to achieve a competitive advantage in the marketplace
Organizations thrive by providing a level of value or services for their customers that their competitors cannot. Mountain Bank currently has a strong retail banking business, but it wishes to expand its outreach into the more lucrative business banking sector. It wishes to expand into retail and corporate banking. To do so, it desires to better use its tellers to convince current private banking account holders to open up corporate accounts.
Tellers are the 'face' of Mountain Bank. They are a critical asset, because one of the main reasons consumers desire to use a bank beyond basic 'nuts and bolts' needs is the confident and concerned image presented by the teller. Of course, more and more banking is being done online today. However, many consumers are frustrated by this, and often it is when a bank goes 'above and beyond' the bare minimum and truly addresses a consumer's personal needs that the patron is more apt to show loyalty to a particular institution. But Mountain Bank employs tellers as entry-level workers, which means that the quality of service they provide may be variable, particularly as the most competent tellers are promoted from their entry-level positions fairly quickly.
Of course, the human element is not the only reason various enterprises and individuals choose a bank. Low interest rates for loans, a willingness to extend credit, and assistance with overcoming regulatory hurdles are...
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