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Management

Effective Executive


Jun'16
Regular Features
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Think a Little Bigger and a Little Broader
Corporate Leadership, Business Innovation and Growth
Leading the Organization of the Future
The Messiness of Real Time Entrepreneurial Leadership
Knowledge Management and Benchmarking
Effective Development and Management of Multichannel Strategy
Interview An Interview with Surya Putchala
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Perspective
Think a Little Bigger and a Little Broader

-- Dan Coughlin

Article Price : Rs.50

Corporate Leadership, Business Innovation and Growth

-- Colin Coulson-Thomas

Many of the most pressing challenges that face certain companies and mankind are unlikely to be addressed by incremental improvements to existing activities and excellence in the performance of them. In competitive and dynamic situations and where windows of opportunity may be limited, quick and front-line responses may be required. An existing business model should not be taken for granted. Leaders need to ensure that people focus upon what is important and, particularly, upon what is important for customers and prospects. Leaders can focus on removing obstacles to creativity rather than determining individual outcomes. The focus of business leaders should be upon creating a culture of excellence and innovation and/or providing the conditions and performance support for people from a diversity of backgrounds and cultures to excel where it matters.

Article Price : Rs.50

Leading the Organization of the Future

-- Alicia Fortinberry and Bob Murray

Huge and unrealistic expectations are placed on leaders, often resulting in disappointment. This in turn can lead to the perception that, as in Yeats’ poem, “the center cannot hold”; trust in leadership is lost and people doubt or cannot even clearly hear the leaders’ messages. Unity falls apart, cooperation diminishes or vanishes. Even where clear strategies are communicated, there may be no agreement or fully effective implementation. Great leaders realize they cannot lead in isolation. They surround themselves with good people who support them and each other and bring different ideas and backgrounds. They have a transformational, or coaching, style and look to keep growing themselves as well as actively seeking new ideas and innovation for their firm. Their unified and dynamic leadership group provides a center that does hold and enables a firm to face the exciting and sometimes daunting challenges of our time.

Article Price : Rs.50

The Messiness of Real Time Entrepreneurial Leadership

-- Stephanie Jones and Martin Tynan

Entrepreneurial leaders are acquiring the skills, knowledge and capabilities to be leaders, but the context in which they operate also allows them to apply these skills in an environment that tends to be a little more forgiving of mis-steps and mistakes. It may be that startup organizations give entrepreneurial leaders the perfect arena in which to ‘fail fast’ as leaders. In real time they can develop the theoretical knowledge about how to be a leader, but then instantly apply that knowledge in the real world. By having this instant feedback loop of what is working and not working in a particular context, they are able to hone and develop their skills, knowledge and capabilities and at the same time see how the application of those entrepreneurial leadership skills can influence and shape their organization.

Article Price : Rs.50

Knowledge Management and Benchmarking

-- Eduardo Gando Manuel

Knowledge management helps to avoid loss of knowledge, focuses on expertise and allows to accumulate knowledge of the work processes in its different forms, ensuring its permanence. The term benchmarking originates from a term used by surveyors, serving to designate a mark or reference a standard. Benchmarking can be considered as a science with five different generations and have produced significant changes in the scope of its objectives. There is a relationship between knowledge management and benchmarking, as through benchmarking practice, companies/organizations can improve their management skills in order to achieve equal or better results than its competitors.

Article Price : Rs.50

Effective Development and Management of Multichannel Strategy

-- Jan Twombly, Jeff Shuman and Lorin Coles

For years, it has been said that customers are empowered and want choice to allow them to do things on their own terms. For many organizations, this reality is driving the adoption of multichannel strategies that offer the customer choice and also give companies the opportunity to ensure that they are growing new markets, introducing new offerings, managing costs, and better serving their customers. Multichannel does not mean “this channel” or “that channel”—it means all channels. Thus, a consistent omnichannel experience requires that all channels of activity complement and intersect so that organizational resources are optimized and leveraged.

Article Price : Rs.50

Interview
An Interview with Surya Putchala

-- The interview was conducted by Aditya S Mishra, Consulting Editor, Effective Executive.

Article Price : Rs.50
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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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