The paper "Production and Operations Management: Blueprinting the Service-Profit Chain" is a good example of a case study on management. Blueprinting is a concept that involves the organization putting itself in the position of the customer in order to find out what the customer needs and thus help the company to make the necessary changes. Although it looks like a simple concept it is a very important tool in measuring success in service delivery. Most companies have used blueprinting to bring about innovation and to improve customer satisfaction. The aim of this paper is to analyze the procedure for the application of loans at the Colonial Savings Bank.
It looks at the weaknesses in the system and redesigns the process of a loan application, approval, and refinancing. This was one of the areas where the bank was doing well but this has since changed. The aim of the restructuring of the process is to create a process that will be more efficient and friendly to the customer and at the same time ensure that the bank's assets are more secure. The paper starts with a detailed case study of the system at the Colonial Savings Bank before coming up new service blueprint aimed at providing better services and in turn customer satisfaction. A Case Study of the Loan Application Process at The Colonial Savings Bank The Colonial Savings Bank has a loan approval system that has five stages.
The first step involves a loan application. Here the customer completes the loan application form for the loan agent who informs him of the refinancing options. The customer also signs papers to allow a credit check then awaits approval. Having made the application the customer moves to the second stage which is that of loan processing.
Here the loan processor requests a credit check, verification of loans or mortgages from other financial institutions, an appraisal of the property, and employment verification. At this stage, if there are any discrepancies the customer is expected to explain the same in writing. If the explanation is acceptable the letter is placed in the customer's file and sent to the loan agent for approval.
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