Statement of Intention - Research Paper Example

ment of intention ment of intention Introduction Barwa Bank is one of the recently established financial s inQatar under the license and regulations of the Qatar Central Bank. Equipped with the modern day technology, this bank provides a full-fledged dimension of Shariah compliant banking activities and services. Some of the services they offer comprise of commercial, retail, and corporate banking services. Additionally, it incorporates the provision of asset management, structured finance, real estate finance, private banking, and business banking.

On top of that, this bank strived and in 2009, it acquired The First Investor Q.S.C, which is the largest shareholder of the Qatari investment banking company in Qatar hence becoming the bank with the largest shareholders in Qatar (Barwa Bank, 2009). However, in spite of all this stipulated speed in becoming a potential bank in the Qatar financial market, this bank has some noticeable problems. As such, this paper intends to give a statement of intention and problem statement in this financial institution.

Problem definition After several observations it came out that, this bank lacks training development among its staff. In addition, it does not have a trainer in the training department, it lacks training funds, the staff lack motivation, and there is lack of communication between employees especially in the case of attending the set training sessions. Problem statement Upon reviewing a bit of research findings from the bank archives, a problem was stated. The bank does not facilitate training sessions since it does not set aside funds for training and provides no training instructor.

This makes it difficult for staff to keep up with the existing and ever changing technology and state of customer service. Research questions What mechanisms does Barwa Bank put in place for evaluating effectiveness and competency of its staff? Is the service delivery strategy set in place by this working in the firm’s favor? Do the set measures meet the expectations of the firm’s clientele? Are there corresponding marketing strategies employed by the firm to attract new customers and retain the existing ones?

According to the vision statement of this bank, Barwa Bank believes in becoming the most progressive financial provider in Qatar. Furthermore, this bank opines that becoming the most reliable financial solutions provider with regard to Shariah compliance by providing superior products with value for customers, employees, and shareholders. Nevertheless, this appears to be unachievable since following the observations made, this bank has a problem of competence because there is lack of employee motivation, no frequent training session.

This means that the employees do not have the modern and relevant customer satisfaction techniques. Maintaining customer satisfaction brings about reliability, trust, and develops cognitive power of customer maintenance as well as attraction. Even though this bank intends to make tangible contributions towards the country economic development, it still lags behind in terms of employee training (Barwa Bank, 2009). This is because, despite the fact that it has training department in its premises, it does not have an assigned team to train the firm’s employees.

This makes it hard for the employees to acquire any new or modern financial technology necessary for keeping the bank technologically equipped. Moreover, besides seeking to provide support for the country’s economic development, this bank seeks to attend all its customer’s financial needs in accordance to the Islamic banking services. Nonetheless, failure to fund its training programs makes this financial institution fall short of means to reinforce its mission to provide financial support while upholding the Islamic banking services stipulations.

Ideally, lack of funds to run or facilitate training of staff results to unavailability of the elements needed to facilitate acquisition of knowledge. Obvious, if there are no funds to support training of staff, it entails that the training will not go on as scheduled. Therefore, the employees intended to receive more knowledge through training will miss the opportunity. As a result, there will be no ways of meeting the stated goals of the firm. This is the case present in this financial institution.

On top of that, at the Barwa bank, there is no development of staff training. Surprisingly, it is also astonishing to observe that this bank lacks communication between employees to attend a training session whenever there might be one. This aspect makes it no only hard, but also inefficient for the bank to seek advancement through training since absence of communication which is the most imperative factor in training and in any other avenue where passing of a message is pragmatic. Practically, lack of these instruments implies that there is also lack of employee motivation, which leads to lack of coordination between and among the company’s staff hence deteriorating any chances of facilitated staff development through training (Barwa Bank, 2009).

In conclusion, the bank of Barwa has potential of meeting its stated goals and objectives. However, it must amend the above stated problems together with addressing its lack of topics related to the jobs that it offers and increase its training sessions from once a year to at least thrice every month. As such, it has to overlook the expenses involved in staff training and foster believe in securing the best position as the most reliable financial institution in the Qatar market and in the hearts of its clientele.

With that respect, it has to ensure that the bank has mechanisms for ensuring communication between employees to attend training sessions, availability of a training department, and provide topics related to trainings required by the company staff. Literature review This section will highlight the names of resources (secondary sources) that I will use during dissertation. So far, they include: Barwa Bank, (2009). Barwa banking services. Retrieved on June 22, 2012 from http://www.barwabank.com/