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Question: Critique the reaction of Smallberg National Bank to Professor Sanders survey findings.

04 Oct 2022,5:06 PM

 

It is September 1990. Mary Roberts, CEO of Smallberg Bankh meeting by reviewing the recent findings of a survey of custom for the bank by a professor at the local college. "I asked Profe to survey our customers to determine how we can improve th service to our existing customers and what we need to do to i customer base over the next five years. The findings show that th factor that we need to address is accessibility. According to the sor, accessibility means availability of services. Our customers want access." "We all know that's impossible," offers Jill Summers, operations manag "Perhaps we can keep our inside banking hours the same but keep the drive through open longer every day and half day on Saturday. That would probably be our lowest cost option." As the discussion began about how long to extend the drive through banking hours, Bill Wilson, head teller, interrupts. "I've been reading about breakthroughs in automated banking services. Automated teller machines (ATM) are beginning to show up in major markets. There is even talk of online banking-that someday everyone will have a computer in their home connected to the bank. Maybe we should find out more about that." Mary responds, "That's interesting, Bill, but remember we are in the banking business-not the computer business. Our customers want personal contact. And online banking... I heard that some top manager at IBM predicted that the world only needed 5-10 computers, maximum. A computer in every home; online banking! That will never happen here. Let's focus on the problem at hand."

1. Critique the reaction of Smallberg National Bank to Professor Sanders survey findings.

2. What are the risks the bank is exposed to due to this reaction?

3. What are the potential risks the bank would be exposed to the Bill's comments more seriously?

4. What are the potential risks the bank would be exposed to it they Bill's comments?

5. If you were on the staff of Smallberg National Bank and prese meeting that took place in 1990, what would you advise the and present in this ou advise them to do?

Expert answer

 

The Smallberg National Bank was one of the first national banks to respond to Professor Sanders' survey findings. The bank released a statement saying that it was "deeply concerned" by the findings and would be taking "immediate action" to address the issues raised.

 

The bank also announced that it would be setting up a task force to investigate the matter further and would be working with other banks and financial institutions to try to find a solution.

 

However, some experts have criticized the response of the Smallberg National Bank, saying that it does not go far enough. They argue that the bank should have taken more responsibility for its role in the global financial system and should have done more to prevent the problems from happening in the first place.

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