Essays on Analytical Report Assignment

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Executive summaryWith continued growth of miming sector in Central Queensland, Colonial Savings Bank of Queensland had experienced strong growth in every area of its business. Refinancing of home loans was one are that appeared to be booming because current and prospective customers were looking for more refinancing loans, with refinancing applications being received in high numbers. In order to be able to handle the increased number of customers, Colonial Savings bank created a new loans approval process, with the process divided into five distinct stages and departments being created for each stage.

The new process had several problems because the numbers of refinancing requests were so many and the operations management did not effectively manage the process which resulted to customer dissatisfaction. Since customer satisfaction is a priority in a service organization, the report looks at how operations management of the Colonial savings bank can redesign current refinancing process by use of service profit chain and service blueprinting to ensure quality service delivery. IntroductionOperations management is a kind of management that is concerned with overseeing, redesigning and designing business operations in the production of services or goods.

It is the function of managing the operating core of a company, which are the activities associated with production, creation, delivery and distribution of the company’s services and goods. Operations management focuses on the efficient management the resources and activities that deliver or produce the services and goods of any business. Operations management professionals manage the materials, people, information and equipment resources that an organization requires to produce and deliver its service. The current refinancing process of the Colonial Savings Bank A blueprint displays the service process and has details of a service from the organization’s and customer perspective.

The blueprint of the Colonial Savings Bank of Queensland refinancing process consists of procedures that are taken by the customers and the organization in the loans approval process. The Colonial Savings bank Blueprint has broken down the loan refinancing process into five stages which include loan application, loan processing, loan closing, new account establishment and loan payment set up and the tasks involved in each step and the people responsible for their execution. The activities that bring together service delivery and customer satisfaction and experience in a service blueprint are divided into customer actions, backstage or invisible contact employee actions, onstage or visible contact employee actions, physical evidence and support systems.

Customer actions entail all steps that a customer undertakes as part of service delivery process. Visible contact employee actions are actions of frontline contact workers that take place as part of a face to face encounter with the customers. In this case, onstage activities entail the discussion held between the loan agent and the customer on the refinancing option.

Support processes are all actions undertaken by individuals in an organization who aren’t contact staff but whose actions are vital to carrying out of the service processes. Invisible contact employee actions are non-visible interfaces with clients, like telephone calls and other actions that employees undertake so as to prepare to serve clients or that are a portion of their roles and responsibilities. In this case study, backstage activities entail loan processing, property appraisal, loan agent advice and the telephones made by the bank as well as the customer.

Physical evidence represents all tangibles that clients are exposed to or collect during their contact with an organization. In the colonial savings bank case, physical evidence entails the loan forms that are handled by or represented to different individuals such as the loan agents, the loan specialists, the customer or the customer’s lawyer (Shostack, 2002).

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