National Bank of Kuwait (NBK) Contents Research Objective 3 Research Question 3 Literature Review 4 Conclusion 5 References 7 Introduction The organization selected for the research proposal is the National Bank of Kuwait. The organization was incorporated in the year 1952…
Boubyan Bank, international Bank of Qatar, and Turkish bank are the associates of NBK. NBK is the first bank in the Middle East to set up an International Advisory Board. NBK plc is a subsidiary of the bank. It has two offices, one in London and the other in Paris. The bank provides retail services related to trade and finance and private as well as corporate banking services (National Bank of Kuwait, n.d.). Research Objective The objective of research is to determine the factors that led the bank to become one of the largest profitable banks in that part of the world and to determine the influence of consumer loyalty on the financial performance of the organization. The objective will also be to analyze how balanced scorecard can be made effective to identify the causal relationships between the perspective of the customers as well as the financial perspective. Research Question The following are the questions that are to be addressed. Is the bank operating at its efficiency level? Can the consumer level initiatives in the balanced scorecard affect the financial level? Which factors can be held responsible for attracting customers to the bank? How the managers taking the help of HR can manage the organization in a better fashion? To support the perspective of the customer, what are the characteristics that the division head of the organization desires in the approach of Balanced Scorecard? Is the future of the bank secured? Literature Review One of the objectives of the organization is to sustain with strong financial position. A trend of adoption of western practices of management like Balanced Scorecard is creeping up. It is based on the organizational structure and goes beyond the usual conventional accounting system. The interaction between the customer and the bank is categorized into three different levels. The first category is comprised of the services that do not require any human interaction like the online banking services. The second category involves the interactions of the customer service representatives. A combination of the first and second category constitutes the third category. It is believed that the bank did not have to suffer terribly in the crisis period, but some are of the opinion that the business was negatively affected. The bank used its image to help the members maintain the relation with the customers. However, with increasing competition in the markets, the members are putting in more effort to hold or attract customers in the bank. If the balanced scorecard was implemented properly, then such a situation could have been avoided. The conceptual framework identifies the utility of building strong relations with the customers and its impact on the financial performance of the bank (Dash and Tripathy, 2004, p. 10). A few more additions in the framework will help to drive the behavior of customers to achieve loyalty. The experienced leaders should deal with the task of communicating the strategic objectives and initiate instant decisions. Three research strategies can be used in order to achieve the objective of the project-descriptive, explanatory and exploratory (Khazal, 2010). The scale and time of the project must be taken in consideration when determining the appropriate methods. The portfolio of retail loans of the bank is maintaining good quality, and it is anticipated to depict fair performance in the near future as well. The bank does not share great exposure to financing the buying of shares. The ...
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