Serandib Bank
CONTENT Page 1. Introduction……………………………………………………………………….1
2. Executive Summary……………………………………………………………….2 3. Problem Statement………………………………………………………………. .3
4. Alternatives……………………………………………………………………….5
5. Conclusion………………………………………………………………………...8
6. Implementations…………………………………………………………………..9
Introduction
This is the fourth assignment which I am forwarding as a case study for module 4 examination of Professional Qualification in Human Resource Management 75th Batch at the Institute of Personal Management Sri Lanka (IPM).
The case is about the SerendiB Bank which was playing a successful monopoly game in the Bankers field where only two other local banks were held due to the Government regulations towards the implementation of foreign banks in the country. The SerendiB Bank was leading the country with a staff of 9,800 at the branches operating in each leading town island wide.
Very recently; on its 50th anniversary, a new chief executive officer, Mrs. Maya Perera was appointed on her post who was just returned back to the country after serving 20 years at two foreign Banks as a Top Executive. With the arrival of new CEO, many senior executives of the bank were unhappy with her new approach which is emphasized on followings.
Cooperate vision and strategies/ businesses objectives for next five years
Creating customer friendly process
Introduction of latest technology
Motivating internal staff through extrinsic motivation
Promoting team work and achieving goals through team dynamics.
The bank was delighting its success for next two years till the time of arriving two foreign banks and with that, suddenly it faced a narrow drop in all aspects. The bank lost its customers by 50% and the employee turnover was 22%. Finally the bank has close down its 22 branches and divest it two overseas operations.
Executive Summary
SerendibB Bank was practicing the seniority based promotions,
2. Executive Summary……………………………………………………………….2 3. Problem Statement………………………………………………………………. .3
4. Alternatives……………………………………………………………………….5
5. Conclusion………………………………………………………………………...8
6. Implementations…………………………………………………………………..9
Introduction
This is the fourth assignment which I am forwarding as a case study for module 4 examination of Professional Qualification in Human Resource Management 75th Batch at the Institute of Personal Management Sri Lanka (IPM).
The case is about the SerendiB Bank which was playing a successful monopoly game in the Bankers field where only two other local banks were held due to the Government regulations towards the implementation of foreign banks in the country. The SerendiB Bank was leading the country with a staff of 9,800 at the branches operating in each leading town island wide.
Very recently; on its 50th anniversary, a new chief executive officer, Mrs. Maya Perera was appointed on her post who was just returned back to the country after serving 20 years at two foreign Banks as a Top Executive. With the arrival of new CEO, many senior executives of the bank were unhappy with her new approach which is emphasized on followings.
Cooperate vision and strategies/ businesses objectives for next five years
Creating customer friendly process
Introduction of latest technology
Motivating internal staff through extrinsic motivation
Promoting team work and achieving goals through team dynamics.
The bank was delighting its success for next two years till the time of arriving two foreign banks and with that, suddenly it faced a narrow drop in all aspects. The bank lost its customers by 50% and the employee turnover was 22%. Finally the bank has close down its 22 branches and divest it two overseas operations.
Executive Summary
SerendibB Bank was practicing the seniority based promotions,