Operation management - Assignment Example

The bank also offers business related services to business clients that maintain both business personal and savings accounts with the bank. Banking at the Harrods Bank has been dramatically changed in the recent years. This dramatic change in banking services at Harrods Bank Limited is associated with the introduction of the efficient and fast modern system. The management of the bank believes that the advancement of the modern system must never be at the cost of customer service. Personal relationships maintained by the bank with its customers are considered the cornerstone of the bank’s ability to provide quality service (Berger, 2011).

Harrods Bank Limited has had many years of banking experience. One of the areas of primary focus to the bank has been the changing customers’ banking needs that must be accurately forecasted. There are five broad categories of stakeholders at any organisation (Buckle and Thompson, 2014). A stakeholder refers to any individual who has concrete interest in the organisation or is affected by the operations of the organisation. There are five key stakeholders at Harrods Bank. These are: Customers- Customers are the group of stakeholders that are majorly affected by the operations of the organisation (Iyer, 2008).

At Harrods Bank, the customers include the account holders, business clients, the loaned and all kinds of people and clients that rely on the banks’ services. Suppliers-The individual prosperity of a supplier and how efficiently they supply the required commodities to the business organisation depends on the effectiveness of the client (Ghosh, 2012). Suppliers at Harrods Bank would range from the people or companies that supply stationary to the bank, to those that supply the electronic machines used in the bank.

Shareholders-people invests in businesses to earn a return on their investments in the end (Greasley, 2008). The efficiency and