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Bank of Australia Case Study

Essay by   •  May 28, 2017  •  Case Study  •  445 Words (2 Pages)  •  641 Views

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Bank of Australia

1. consider the implications of such an investment in IT and systems for the bank. Use the framework for organizational transformation to analyze this proposal. Give two examples where one dimension influences one or more other dimensions?

This proposal is the second order change: Informate. With second-order change, not only the manner in which the process is performed changes, but also those individuals who perform it are affected by the change- either their role is modified or a different set of people is now involved. Moreover, the manner in which people interact with the technology also undergoes modification.

In this case, “technology” and “process” both influences “people”.

(a) Technology – People: since the software would detect transactions, pull appropriate data and information form the data warehouse and determine an appropriate marketing campaign, the workload of bank staff would decrease a lot and less people are needed for the positions. Bank managers do not need to keep track with clients that often to fully grasp their financial position and investment potential.

(b) Process – People: With the software, customers don’t need to go to the bank managers to get an investment portfolio. They would receive financial products’ suggestion once a while according to their transaction records.

2. Would you recommend that John Dean should proceed with this investment? (No. Then why not?)

I think John Dean should not proceed with this investment.

(a) Bank of Australia has its own technology system. To install the software is not easily install the software in computers, but might require the whole system to update for adaption. Also to fully make use of the software, the bank would have to invest more to train all its employees. The payoff of the such radical and dramatic change for the bank is not sure, which is quite risky.

(b) For the service industry, customers’ satisfaction is crucial for the bank. As for how to satisfy customers, customization is essential to achieve that. With the software, bank customers can get a rather appropriate marketing campaign based on the big data and a number of template campaigns. However, even though there is the big data, they can only send a template that fits the customer most, but not hundred percent designed following the client’s need and requirement.

(c) Moreover, emails are not persuasive at all. Even customers get the emails, most of them would not be able to fully understand those products. If it’s the bank managers serve them, they can tell their characteristics from communication and sell the financial products properly.

(d) Other banks can also apply the same program that would make it less special. But Outstanding staff is an advantage for the bank and uncopiable.

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