Case Study-Memton Bank
CASE STUDIES—MENTON BANK
Study Questions
1. Identify the steps taken by Menton Bank to develop a stronger customer orientation in its retail branches.
2. Compare and contrast the jobs of CAR and CSR. How important is each (a) to bank operations and (b) to customer satisfaction?
3. Evaluate the strengths and weaknesses of Karen Mitchell and other candidates for head CSR.
4. What action do you recommend for filling the head CSR position?
Problems and issues
In this case, the manager and customer service director of Menton Bank’s Victory Square branch were selecting the new head CSR. Three candidates had their own strengths and weaknesses. With previous promotion criteria for head CSR, Karen Mitchell with good operational skills would be the best choice. However, under the new banking policies and evaluation criteria, Jean Warshawski with excellent selling skills would fit the position. The main problem here was how to balance the operational skills and selling effectiveness for CSRs and head CSR, which would fit and implement the new bank policies.
Analysis
Menton bank, which was the largest bank in the region and used to focus on corporate business, started to emphasize its business at the retail banking level. To develop a stronger customer orientation on selling financial products and services, the new CEO reorganized the management team, improved banking electronic system, trained employees with new responsibilities and so on. All above improvements lead to significant new account open, and also steadily increase the share of local deposits.
All these changes were based on the environment in those days which the bank met the aggressive competition and declining market share. The CEO recognized that more sales on bank’s financial services and products would improve the profitability. At the same time, new electronic innovations such as more ATMs, internet banking and 24/7 telephone banking
Study Questions
1. Identify the steps taken by Menton Bank to develop a stronger customer orientation in its retail branches.
2. Compare and contrast the jobs of CAR and CSR. How important is each (a) to bank operations and (b) to customer satisfaction?
3. Evaluate the strengths and weaknesses of Karen Mitchell and other candidates for head CSR.
4. What action do you recommend for filling the head CSR position?
Problems and issues
In this case, the manager and customer service director of Menton Bank’s Victory Square branch were selecting the new head CSR. Three candidates had their own strengths and weaknesses. With previous promotion criteria for head CSR, Karen Mitchell with good operational skills would be the best choice. However, under the new banking policies and evaluation criteria, Jean Warshawski with excellent selling skills would fit the position. The main problem here was how to balance the operational skills and selling effectiveness for CSRs and head CSR, which would fit and implement the new bank policies.
Analysis
Menton bank, which was the largest bank in the region and used to focus on corporate business, started to emphasize its business at the retail banking level. To develop a stronger customer orientation on selling financial products and services, the new CEO reorganized the management team, improved banking electronic system, trained employees with new responsibilities and so on. All above improvements lead to significant new account open, and also steadily increase the share of local deposits.
All these changes were based on the environment in those days which the bank met the aggressive competition and declining market share. The CEO recognized that more sales on bank’s financial services and products would improve the profitability. At the same time, new electronic innovations such as more ATMs, internet banking and 24/7 telephone banking