In order to remain competitive in the global marketplace, manufacturers are adopting radical corporate strategies -- like flattening the organization, globalizing production, forming strategic alliances with customers, suppliers and competitors, merging with other companies to form new structures, decentralizing business units, and creating global business units.
Get Full Essay Get access to this section to get all help you need with your essay and educational issues.
BPR Business Process Reengineering is all about reinventing, rethinking, redesigning, redirecting and rebuilding. It touches five segments strategy, processes, organization, technology and culture.
Faced with a constantly changing business environment, companies are scurrying to grasp the potency of this trend -propelled by competition, globalization and need for speed. The most important reason for companies to launch BPR projects is to gain efficiency and productivity.
Once this is achieved, they can boost organizational efficiency and streamline business and production processes.
In less than a decade, the bank has become a universal bank offering a well diversified portfolio of financial services. It is the Business process reengineering essay largest bank in India and the largest private sector bank in India by market capitalization.
ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery Business process reengineering essay and specialization subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management.
These data are dynamic. The Bank is expanding in overseas markets and has the largest international balance sheet amongIndian banks. ICICI Bank now has wholly-owned subsidiaries, branches and representativesoffices in 19 countries, including an offshore unit in Mumbai.
In year and later when anytime, anywhere banking came to our country, ICICI Bank had to move away from the branch-centric model and make its services available nationwide.
The solution was to centralize its applications. The bank followed it up with offering several e-Commerce services like Bill Payments, Funds Transfers and Corporate Banking over the net.
For example a server at New Delhi was specific to the branch in that city, the ATMs were standalone catering only to the city branch.
The banking transactions were thus limited to the respective branch offices as customer data was not available in other branches. This made banking a limited service and very branch specific. ICICI realized the importance of offering nationwide banking but this would be possible only by having a centralized data repository.
Change has always been the case, but although in the past it was predictable, incremental and evolutionary, today it is unpredictable, rapid and revolutionary. The rapid deployment of new technologies, the globalization of business operations and the continuously changing customer expectations are the main forces behind this transformation.
Icici in order to successfully face these difficult operation conditions, should redefine their key strategies aiming at minimizing the cost of services and products as well as improving customer satisfaction, service quality and job satisfaction.
With the ICICI group having several companies under its umbrella, Finacle needed to seamlessly integrate with multiple applications such as credit cards, mutual funds, brokerage, call center and data ware housing systems.
Another key challenge was managing transaction volumes. ICICI Bank underwent a phase of organic and inorganic growth, first by acquiring Bank of Madura followed by a reverse merger of the bank with its parent organization, ICICI Ltd, resultant increase in transaction levels from ,transactions a day in to nearly 2.
With Finacle, the bank currently has the ability to process0. For example a server at New Delhi was specific to the branch in that city; the ATMs were standalone catering only to the city branch. Currently, only 25 percent of all transactions take place through branches and 75 percent through other delivery channels.
Enabled Finacle to successfully manage the resultant increase in transaction levels fromtransactions a day in to nearly2. This reduction in routine transactions through the branch has enabled ICICI Bank to aggressively use its branch network as customer acquisition units. This allows for anticipating risks and hazards during the process, not as an afterthought, and ensuring that the change is effective.
By using a methodology that includes a facilitative approach to implement the new business process, resistance can be reduced. It also provides D-Mart account facilities on-line, so a person can access his account from anywhere he is. Branches of ICICI Bank are well equipped with advanced technology to provide the customers with taster banking services.
ICICI Bank also provides other facilities like drinking water facilities, proper sitting arrangements to the customers. ICICI bank provides credit facilities but only upto limited period. The bank should also provide insurance services.
That means the bank can have a tie-up with a insurance company. The bank shouldprovide higher returns on deposits in comparison of the present situation. The bank can recruit these students through tie-ups with colleges.
Such students will surely prove as an asset to the bank. The bank can also associate itself with social causes like providing relief aid patients, funding towards natural calamities.
But this falls in the 4th quadrant so the bank should neglect it. There can be easy access to the e-mail ids of the customers through wrong people. The confidential information of the customers can be leaked easily through the e-mail ids.The Business Process Reengineering is the procedure of redesigning the concern procedures and the associated systems and organisational constructions to accomplish a dramatic alteration in the whole concern procedure and public presentation.
Business Process Redesign or Reengineering Business Process Redesign (BPR) or Reengineering is "the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical, contemporary measures of performance, such as cost, quality, service, and speed" (Hammer and Champy, Reengineering).
Business Process Reengineering Essay - In today’s environment, with the emergence of different technologies, new products are introduced in the market which has caused the shift in the control to the customers; products and services are now designed according to the customers’ needs.
The BPR (Business process reengineering) and the business modeling (creating a new process) and the difference in between, is the topic in this report.
Business Process Modeling (BPM) represents the activity of processes of a business. I. Definition Business process reengineering is the redesign of business processes and the associated systems and organizational structures to achieve a dramatic improvement in business 2, Words | /5(1).
?Are you looking for custom writing help? order quality custom papers here- get cheap essay assistance. Business Process reengineering ASSESSMENT TASK In the current international economic environment, managers are frequently required to undertake project work in Business Process reengineering ASSESSMENT TASK In the current international.