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Spencer Johnson detailed the challenges involved with change in his bestselling book, Who Moved My Cheese? The book uses metaphors and storytelling to provide perspectives on the change process. Ultimately, we each decide how we view and respond to change.
Share a change that you were affected by and discuss it in the context of one of the following:
We need to work on an auditing report by researching and assessing the digital banks operating locally, regionally, and internationally.
Their names, list of services, competitive advantages, USPs, communication style, positioning,… etc.
More often than not, the terms of digital banking and online banking are used interchangeably. However, there exists a fine line between the meaning of the terms and you must know it before digging deep in your research.
Digital banking is aimed at digitizing all the operations of the bank, core, or non-core. Basically, starting from onboarding of clients to servicing of the accounts, to closure of accounts is digital banking’s primary objective. Digital banking’s agenda is to make the physical presence of a bank’s branch redundant for its customers so that the customers can handle all banking operations from their place of convenience. Therefore, online banking is a subset of the master set, digital banking.
TGI Fridays Co.:
1.In 1965, TGI Fridays opened its first location in New York City offering high-quality, authentic American food and drinks backed by genuine service. 2.Bringing people together to socialize and celebrate the spirit of “Friday” is core to their promise that ‘In Here, It’s Always Friday’.
3.The company then created an expansion strategy to meet the increasing demand. 4. Fridays restaurants currently comprises 889 restaurants in 60 countries. 5. But with expansion the organizational environment is becoming more and more complex. 6. In a vastly competitive environment, where Friday’s restaurants are always experiencing a change, it becomes more and more difficult to keep strict control. 7. In the presence of a large workforce, the need for control becomes increasingly crucial.
8. However, Fridays Co. reported 35% drop in earnings for the second quarter of 2017.
9. In an attempt to understand the causes of such drop, Fridays Company has discovered that customer satisfaction massively dropped.10 while gathering information related to the reasons behind the major drop in customer satisfaction, the following comments were given from the customers. 11. Many complaints about inappropriate staff behavior. 12. Many complaints about food quality. 13. Long waiting time. 14. Employees are not taking care of hygiene and cleanliness. 15. In general, they con?rm that the food and service quality are below the standards set by the company. 16.The following comments were given by the restaurant staff: Salary is different for the same levels in different restaurants. 17. Nobody cares about how we feel. 18. High staff turnover pressure on existing serving staff and managers. 19. Fridays needs for transformation to re-gain customer trust. 20.Fridays Co. should adapt its customer research model in response to demand, with ’pace of experience’ which become the lead measure. 21.The working hours and pay scale of the staff must undergo revision. 22.The restaurant also should start training ensuring all staff reach a minimum standard. 23.Menu should be refreshed, and healthy options should be considered.
24. Fridays Co. is now under a real threat of going out of business.25. It may be labelled as junk food suppliers and poor service provider if changes are not made.
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