This paper gives an overview of Oklahoma national bank. It is one of the outstanding banks in US which has realized its competitive advantage in the market. This is because of the quality management strategies which it has applied hence it is in a position to compete effectively with the other banks…
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During these years, the bank had competed very well hence leading to its success. Its loan outstanding was also doubled yearly and its core deposit growth was on a straight incline (Townsend, Busenitz, & Arthurs, 2001). Factors that led to Oklahoma national bank success Quality management Total quality management is one of the management approaches applied by Oklahoma bank in seeking to establish zero defects when running its business. It comprises of team leadership, worker empowerment, and creative problem solving in order to achieve its set goals. These programs are now available in marketing, production, customer support and finance (Schjoedt, 2009). A TQM program includes all aspects of organizations operations that include; the structure of the company, the culture the company has developed, and its hiring and promotional practices. TQM evolved from the quality assurance methods that were first developed during the First World War. It was due to the poor banking systems in the First World War that led to the adoption of the quality management practices by this bank (Rodriguez, 2008) Defining and measuring quality in Oklahoma bank Quality in its final analysis, is the capacity to meet diverse requirements which are economical, productive, social and of course with measurable actions. The quality of performance is one of the basic elements in trying to differentiate an organization within any market. This bank has applied the quality management in the following areas of its operation: 1) Customer relationships - involves establishing strong relationships with the customer’s through partnership arrangements and having direct customer contacts. 2) Customer involvement in the new product designs - this involves the involvement of the potential customers in the...
Business analysis of Oklahoma National Bank
It was founded in early 2000 and grew at such an alarming rate that within a couple of years, it multiplied more than eleven times the original assets and capital. It provides personal banking, commercial banking, business banking, and wealth management services in the United States. Its success was fueled by strong organizational culture, the bank’s ability to maintain high asset quality, quality management and use of En Act to zero in on customer relationship. Since then, it has merged with a larger banking organization, but it retains its decision making at a local level. It does this in order to remain committed to the fundamental values and beliefs that have seen this bank go far. As a result, the bank prides itself in having a unique laic culture of a strong relationship among the employees, directors and the founders of the bank. The bank is also God driven as they open all meetings with a prayer hence see this particular adventure as a blessing from God and seek to be good stewards indeed. Another key strategy which the bank has applied is that, they promote open discussion and honesty among their employees in order to have an honest dialogue in “an effort to effort” to meet the customers long term banking needs.
This paper presents a model of strategic approach and entrepreneurial behavior and activities in either individual or cooperate entrepreneurship that eventually leads to a positive leap forward relative to present position.
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