The paper "Business Process Analysis - Bank of Queensland" is a perfect example of a business case study. A business process refers to the activities that are performed by a business or an organization for the purpose of creating value for the customers. The way in which the organization performs and manages these processes determines its success. Business process analysis enables the organization to improve its mode of performing the activities to ensure more efficiency and better use of resources (Berkeley School of Information 2005, 280). The focus of this report is to provide a business process analysis of the Bank of Queensland.
The bank is one of the leading regional banks in Australia offering banking services to people across Australia through its 200 branches. The reason for choosing this organization is because of its poor risk management and compliance systems as well as the poor treatment of customers that have contributed to the recent legal suits against it. The lack of adequate controls to mitigate anti-laundering schemes and the failures in money-market deposit accounts have characterized the failures of the bank which have affected their customers. This report will look at the key business processes of the bank in a bid to identify the inefficiencies in the bank.
Further, these processes will be mapped using relationships, and cross-functional maps and recommendations will be made on how to rectify the failures of the bank. Mission The bank’ s mission is to be the most loved bank in Australia through being modern, nimble, focused, and personal. Target market The target market is all people across Australia. The bank reaches this target market through the 200 branches and over 3500 ATMs spread across Australia.
The bank currently has over 650,000 customers and intends to increase the number by delivering better and quality banking and financial services. Strategy The bank’ s strategy is to on niche segments where customers can have and value a more intimate banking relationship.
Bank of Queensland 2015, BOQ Strategy: Annual report 2015, Bank of Queensland.
Berkeley School of Information 2005, Analyzing business processes, University of California.
Bitner J M, Ostrom A & Morgan F N 2007, Service blueprinting: A practical technique for service innovation, Center for Services Leadership, Arizona University.
Goldratt, E M and Cox, J 2010, The goal: A process of on-going improvement, North River Press, Great Barrington.
Jeston, J and Nelis, J 2014, Business process management. Routledge.
Kuwaiti, M E and Kay, J M 2000, The role of performance measurement in business process re-engineering, International Journal of Operations & Production Management, 20(12), pp.1411-1426.
Van Der Aalst, W M, Ter Hofstede, A H and Weske, M 2003, Business process management: A survey in Business process management (pp. 1-12), Springer Berlin Heidelberg.