Service Operations Management Research Paper Example | Topics and Well Written Essays - 1250 words

Service Operations Management - Research Paper ExampleStandard contract till in the United Arab Emirates serves both the Consumer and the Wholesale Banking customers. The Consumer Banking scratch provides deposit taking, personal loans, credit cards, mortgages, and wealth management services to sundry(a) individuals and to small to medium-sized enterprises. The Wholesale Banking section provides the corporate and institutional customers with services ranging from lending, trade finance, custody, cash management, debt capital markets, foreign exchange and corporate finance (Standard Chartered). This noble bank in the United Arabs Emirates is tumefy established in the growth markets where it aims at being the right business partner, mainly for its clients. Standard Charted Bank in the United Arab Emirates combines in-depth local chouseledge together with global capability to offer the best financial services to its customers. The Bank is fountainhead trusted across its numerous branches and networks for its high standards of governance as well as its commitment in making a huge difference in the various communities where it operates. Standard Chartered Bank is the worlds leader in the emergent markets banks, and its headquarters are in London. However, the banks businesses are always overwhelmingly international (Standard Chartered). ... llowed by the Branch Cash Officers who are responsible for the back down office of the branch operations followed by the bank tellers or cashiers who are responsible for the daily operations of depositing as well as withdrawing cash for the various clients in the bank. It is worth noting that these noble people always work in harmony in order to achieve the banks mission and lot statement whereby each employee is expected to fully know their various roles. Each employee of the bank has their individual targets, which they are supposed to attain in order to tolerate in employment, and this makes them to surpass their t argets since there are bonuses and other incentives that are awarded by the bank if an employee surpasses their targets (Parker 03). There are various key Tactical and Strategic Challenges that are faced by the Operations Managers as they continue working on a daily basis. Such challenges include keeping a keen centerfield on the numerous transactions that the branch of the bank is undertaking. This is a paramount challenge since the bank deals with other peoples money, and any loss would payoff to diverse repercussions to the entire bank as well as ruining its reputation. A banks operations manager in Standard Chartered bank in UAE is not even supposed to deal with customers on a face-to-face basis since they will not be able to revolve around on their noble work effectively. They are similarly supposed to authorize various transactions, especially those that deal with a large amount of money. They have to know anti-money laundry laws, which the bank has to adhere to efficientl y, govern the real source of the money since the bank. This is a key function of the banks operations manager and also a tactical and strategic challenge since any mistake can affect the