Download complete project material on Evaluation Of Customer Service Strategies In Nigeria Bank from chapter one to five
ABSTRACT
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The project critically described the “Evaluation of Customers Service Strategy in Eco Bank Plc was used to ascertain the effect of customer services in Eco Bank Plc so as to help the banks to know their responsibilities and commitment in servicing the customers who underline the need for their survival of business as well as their right as customer.
Interactive were reviewed as it pertains to the topic. Several research questions were administered, and the instrument for data collection as the questionnaire. Findings revealed that customers are very important as such should be treated with utmost attention. Recommendations were note as to how customers should be efficiently served to make them satisfied.
TABLE OF CONTENTS
Title page
Approval page
Declaration page
Dedication page
Acknowledgement page
Abstract page
Table of contents
CHAPTER ONE: INTRODUCTION
Background of the Study
Statement of the problem
Objectives of the study
Statement of Hypothesis
Significance of the study
Limitation of the study
Historical Background of Oceanic Bank Int’l Plc
Definition of terms
CHAPTER TWO: LITERATURE REVIEW
Meaning of Banking
Evolution of Banking
Types of Bank
Duties and Responsibility
Classes of Bank
Meaning of customers
Types of customer
Customers Relationship
CHAPTER THREE: RESEARCH METHODOLOGY
Introduction
Research Design
Are of the study
Population of the study
Sample size and sampling techniques
Instrument for data collection
Validity of the instrument used
Reliability of the instrument used
Methods of gathering data
Method of data analysis
Justification for the instrument used
CHAPTER FOUR: PRESENTATION OF DATA AND ANALYSIS
4.1 Data Presentations
4.2 Analysis of Data
4.3 Test of Hypothesis
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
Summary of findings
Conclusion
Recommendations
References
Appendix.
CHAPTER ONE: INTRODUCTION
BACKGROUND OF THE STUDY
All organizations are established and set up for the purpose of providing essential goods and satisfactory service to customers. Customers are the life wire of an organization, this is because, without the customers patronage no organization can achieve their established goal which is mostly profit.
Providing a viable and unique service to customers in an organization especially in Banking industry will determine the performance of such bank. This is with regards to achieving profit and ability to retain as well as maintain dynamic business relationship with the customer.
Basically, without the anchor of treating customers as people and rendering satisfied service, banking business will be caught up in an endless cycle of unprofitable service. Customers look for the best product and service at the right price and when faced with a choice between similar service, they choose the company that treats them best.
In competitive markets, 70% of customer decision making is based on how they are treated, with only 30% being determined by the product itself. Yet, surprisingly, only 10% of company resources are invested in how “humanly” the organization interacts with its customers. It is the “human touch” that stands out in the mind and memory of the customer.
According to Mckean (2002) customer initiatives often appear to focus on treatment differentiation under the premise of “relationships. However, they tend to concentrate on better marketing techniques. Most importantly, the truth is customers imply want to buy the product and service that best suits them and to be treated as human beings in the process.
Nevertheless, it is agreed and believed that rendering efficient, effective and satisfactory service to customers in banking is a strategy to regularly and positively improve a good customer relationship. It is against this background, that the study is intended to investigate. The evaluation of customer service.
Scott (2002) said customer service is a series of activities designed to enhance the level of customer satisfaction i.e. feeling that the service has met the customer expectation in Banking Industry.
1.2 STATEMENT OF THE PROBLEM
Banking is a service industry. Among its many functions are keeping and accepting of deposits, granting short and long term loans and advances etc. The bank deals with the public at large i.e. it performs these functions for Government as without thee people patronizing the banks they cannot stay in Business. Therefore, all its employees must at all times provide efficient and effective service.
Banking Business is not only sensitive due to its impact on the individual customers, but also has greater impact on the general economy of a country. Due to its sensitive nature, the banks have to live up to expectation otherwise it will loose its customers and this will not augur well for the industry. This is why the banks customer is always evaluated.
One wants to be able to determine the value of banks customer service. People often however, wonder why Nigeria bank officials fail to recognize the importance of these customers to them, since they are the main purpose of their employment. If banks render poor services in terms of its being under or inexperience staff, what are likely to be the consequences?
More importantly, banks that alleviates its customers from unnecessary and embracing strain of using for transactions which normally would have taken a relatively shorter time, strengthen the job security of employees and enhance good customer and banker relationship. This research wishes to find out if the services rendered by banks are satisfactory or not. If not satisfactory, could it be.
1. Improper training of bank officials?
2. Poor counter service arising from a low degree of efficiency of staffs?
3. Lack of motivational and proper incentives given by the bank to its staff?
4. Insufficient manpower?
5. Dishonesty by the bank staff or inability to adopt innovations from other part of the world which have eased banking services that account for the poor quality of service rendered in Nigeria banks?
It is in the light of these, that this study is being undertaken to evaluate customer service strategies in Eco Bank so as to know the strengths and weaknesses as well as determine and identify its contributions towards achieving organizational goals and objectives.
1.3 OBJECTIVES OF THE STUDY
The purpose of this research work is to evaluate the customer service strategies in Eco bank, the study consider the following: banking it is aimed at critically analyzing the quality of services offered by banks in general and Eco Bank Nigeria Plc.
1. To examine the quality of customers service offered by the bank
2. To evaluate the customer service strategies in the Eco Bank.
However, apart from the above, the general purpose of this research work is a pre-condition for the award of Higher National Diploma (HND) in Business Administration.
The criticism often levied against banks is that they provide poor customer service in this country, as such, this research with to obtain the customers view about these services, if majority of the customers are satisfied or not.
This study intends to investigate amongst other factors, the cause of extensive delay, long queues, rowdiness and aggressive noise in banks and what are the likely area of improving these service if the customers are not satisfied. Since the relationship between a bank and its customer is contractual, this study aims at enlightening the customers and the public at large, the role that are expected of banks within the society which will assist in maintaining a good customer and bankers relationship.
Finally, staff attitudes and responses to customers is another area of concern to the researcher a such, this study is aimed at critically studying the attitude and response of staffs towards their valuable customers and the problem in the service rendered generally so as to provide suitable recommendations.
1.4 STATEMENT OF HYPOTHESIS
This study will therefore put the following hypothesis to test to know the causes of customers dissatisfaction.
H0: Poor counter service and uncourtenous staff behaviour does not lead to customers’ dissatisfaction.
H1: Poor counter service and uncourteous staff behaviour leads to customer dissatisfaction.
Generally, banks are involved in acceptance and safe keeping of deposits, granting loans and overdraft to customers, transferring of funds on the instruction of their customer, managing customers investment as such acting as executor and trustee of wills providing facilities for safe keeping of important documents and title deeds, providing foreign exchange facilities to travelers, advising customer on insurance matters providing services to importers and exporter (letters of credit), bonds, buying and selling of stock and shares for their customers.
However, it has been observed that there is usually long queues, rowdiness and aggressiveness in banks indicating unsatisfactory services rendered by banks.
1.5 SIGNIFICANCE OF THE STUDY
This study will be of immense importance to both the organization and its esteemed customers as it will assist banks to appreciate that rendering satisfied customer service is essentially vital to both the bank and to the economy at large, and also help bank customers to understand and appreciate the quality of service that is rendered to them.
However, banks will stand to benefit from this study as such, its deigned goals and objectives will absolutely be achieved if its officials adequately render quality customer service.
1.6 LIMITATIONS OF THE STUDY
In the course of writing this project, the researcher encountered certain problems among such problems are:
Time constraints: This made it impossible to collect all the necessary data within the time frame given hectares are in the evening and working in the office during the day.
Document: similarly, the researcher did not have access to some of the vital documents or records of the bank due to security purpose.
Finance is another problem encountered by the researcher, the money available to carrying out research of this nature is limited. A comprehensive study of this nature requires financial resources which were not at the disposal of the researcher,
1.7 HISTORICAL BACKGROUND OF ECO BANK PLC
Eco Bank Plc is one of Nigeria’s foremost financial services institutions. The Bank was incorporated on March 26, 1990 under the companies and Allied Matters Act (1990) of Nigeria as a private limited liability company and was granted a commercial banking license on April 10 1990. The bank commenced business on 12th June, 1990. fourteen years later, on June 4th 2004, Eco Bank converted to a public liability company. Its shares were listed on the Nigerian stock Exchange on June 25 2005.
Over the years, Eco Bank has built its success on excellent service, delivered in a friendly environment thought professional staff, here raging on world-class technology.
To maximize the benefit inherent in the new capital regime, the bank has adequately position itself to meet the varied needs of its customers through the establishment of various subsidiaries which include, Eco Registrars limited, Eco trustees limited, Eco Insurance limited. Eco Securities limited, Eco Asset Management among others. Thereby presenting it as a financial supermarket through its enhanced information Technology infrastructure with a view to guaranteeing that value is delivered bank-wide through superior service delivery.
Today, Eco Bank serves customers spread across all liars of Government corporate organizations, small and medium enterprises and individuals. The Bank’s commitment to value creation for all its stake holders has earned it a solid reputation as a responsible corporate citizen and employer of choice.
With a strong presence in asset management, commercial banking, health management, insurance, investment banking, pensions, registrar services savings, loans and trustee services as well as over 400 business offices spread across Nigeria, Cameroun, the Gambia and Sco Tome and Principe, Eco Bank is one of the most recognized financial services brands in West Africa.
Whilst, the banks organizational chart is diagrammatically represented thus:
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