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Purchasing Of Banking And Financial Service
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CHAPTER ONE
INTRODUCTION
1.1 Background Of The Study
The
deregulation of the financial services market which the Nigeria economy
has witnessed under the structural adjustment programme, has exposed
financial institution to the types of competitive and tough market
environment which their counter parts in the advanced economics have
witnessed for many years.
The banking and financial institution which
have survived the turbulence which those changes brought in their wake,
are those which have encourage & embrace the purchasing philosophy
as a corporate culture for the organization. The Nigeria experiences is
no different from that of those of our counterparts in the advanced
world and we have the benefit of adopting the well tested and
established method which help them to achieve excellence in the face of
apparent odds.
The argument in this research work is that it enhance
profits and in fact the entire issue of corporate survival, excellency,
competitive edge stand out corporate image, can only be achieved if
financial industries adopt the purchasing concept as the philosophy
which guides the way we deliver our services.
Besides, the advent of
deregulation and the ensuring cut-throat competition the financial
market in which we operate is characterized by homogeneity of products
or services rendered by all banks and insurance companies. As with other
service industries, they do not have the advantage which the physical
product purchasing companies have in product differentiation through
improvement of product functioning and peck presentation.
Banks and
insurance companies are selling essentially the same basic products or
service and therefore have very limited degree of freedom to enhance
competitiveness on the basis of product differentiation.
Competitive
advantage can therefore only be achieve through adoption of outstanding
service delivery systems and customer oriented attitude towards the
satisfaction of customer demands and expected.
This study is thus
designed to examine how banking organizations can create a competitive
edge through the application of purchasing concept.
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ABSRACT - [ Total Page(s): 1 ]This study was carried out on the purchasing of banking and financial services in Nigeria, using Eco Bank as case study. To achieve this, five significant research objectives were formulated. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of all the customers and staff of Eco Bank, Lagos State. In determining the sample size, the researcher conveniently selected 70 respondents while 55 were received and 50 were ... Continue reading---
