The paper "AMP Bank Limited-Service Process" is a perfect example of finance and accounting coursework. A business exists to offer products and services to consumers. The production of goods and services in the business require costs like labor and capital. Business must come up with the most efficient processes to reduce costs. The main objective of a business is profit-making, and this can be achieved by improving the process to ensure that fewer resources are used or by the price increase. Both ways require streamlining of the activities that take place in the production of goods and services.
The efficient and effective business process ensures that on the production side, the resources are used optimally and on the consumption side customers have a great user experience. Hence, there is a great need to ensure that the business implements the best services process in the industry. A business process refers to a set of logically interlinked activities which are interdependent and uses resources to produce a defined business outcome (Weske, 2012, p. 5). The outcome of one business process may be used as input to another business process to achieve a result.
The outcome may be physical, information or monetary. The outcome of a business process differs by the type of business; for services companies, the outcome will be served while for manufacturing companies, it may be a product or a service. Moreover, the type of service processes will be determined by the service focus, customer contact time per transaction, degree of customization and desecration. Other factors which come into the play are value-added, back office/front office, and whether the product is product or process focused. Consequently, there are different types of business process which can be employed to improve the delivery of services.
Business management may choose to use professional services process, service shops process or mass service processes. The process that a company uses has a consequence on the design of the layout of the business and the management of the process (Nankervis et al. , 2005, p. 227). The company designs the layout of the business depending on the dominant service process. The essay will identify the dominant process in the AMP Bank Limited and show the consequences of that process on the design and management of the process. The process management of AMP Bank Limited emphasis fast delivery time, on-time delivery, low-cost operations and consistent quality.
Though the objectives compete among each other, the bank desire is to offer quality services at the lowest possible cost (Law Institute Journal, 2005, p. 11). The objective calls for innovative service process that reduces the cost but doesn’ t compromise the quality of the service. The dominant service process in AMP Bank Limited is a service shop.
The retail and corporate sections of the bank use service shop type of process while the call center section uses mass services. In the call center section, there is a large number of customers calling for advice on different issues, and there is also less customization. Moreover, the center uses phones and other communications equipment to help customers, and the bank office staff can offer these services. The above qualities enable the mass production of the service.