Project Materials

PURCHASING AND SUPPLY UNDERGRADUATE PROJECT TOPICS

IMPACT OF TOTAL QUALITY MANAGEMENT ON CUSTOMERS’ SATISFACTION AND BANK PROFITABILITY

IMPACT OF TOTAL QUALITY MANAGEMENT ON CUSTOMERS’ SATISFACTION AND BANK PROFITABILITY

 

Project Material Details
Pages: 75-90
Questionnaire: Yes
Chapters: 1 to 5
Reference and Abstract: Yes
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ABSTRACT

A research cannot be conducted if there are no missing links or gaps, or if no questions remain unanswered. Total quality management has been thoroughly examined in this research to determine its impact on customer happiness and bank profitability, as well as to provide answers to some outstanding problems. Chapter 1 introduced us to the concept of comprehensive quality management, the goal of the study, the research hypothesis, limitations and constraints, the significance of the study, and the historical backdrop of the case study (First Bank Plc. Sango Ibadan), among other things. Chapter 2 contains a review of the literature to learn what other authors have said about complete quality management. The theories of overall quality management were also addressed. Chapters 3 and 4 covered study technique and data presentation and analysis, respectively. The primary data was collected via a questionnaire, and the researcher presented and analysed the data using a table and simple percentage. The theory presented in Chapter 1 was also put to test.

 

Chapter one

INTRODUCTION

1.0 Background of the Study

It was believed that a country’s economy is based on its financial system. The banking industry plays a significant role in the economic development of every country. The fundamental and most significant role of the banking sector is financial intermediation, which involves banks acting as financial intermediaries, mobilising funds from surplus units and making them available for use by deficit units of the economy. Banks have responsibilities to their clients, shareholders, the government, and society as they perform their different economic functions.

The banking business has seen a lot of changes throughout the years, the most notable of which is the elimination of the “arm chair” banking system. According to them, the industry continues to be impacted by competition, which has necessitated the implementation of more serious plans and efforts in the delivery of banking products and services.

Other drivers of change include bank recapitalisation, economic liberalisation, which signals the re-entry of global banks, technological innovation, and the fast increasing sophistication and demand of today’s bank consumers.

Customers at today’s banks have more sophisticated tastes and demand for products and services. Customers’ access to information is growing more global as a result of enhanced technology and more economic globalisation. Their expectations for never items and alternate delivery channels have grown.

The inevitable wave of globalisation, as well as the rapid advancement of technology, have contributed significantly to the complexity of bank consumers. Effective customer satisfaction in Nigerian banks necessitates that service quality be the primary concern and derived goal of banks.

Globally, rivalry has evolved considerably from price to quality. Total quality management is a key component of strategic management restructuring and business process re-engineering, which have recently gained popularity in Nigerian banks.

Many banks have recognised the value of investing in service quality. They are already seeing the benefits of customer satisfaction as a result of implementing complete quality control, business process re-engineering, and compliments.

1.1 Statement of The Problems

Quality has been identified as the elixir that offers the crucial competitive advantage, particularly in today’s financial market. After fully classifying the study’s problems, the researcher hereby states the following research questions, which will serve as a guide for the study:

• What are the elements driving changes in banks’ product distribution methods?

• How can banks deal with the industry’s increased competition?

• How can banks deal with the ever-changing demand and expectations of clients regarding what defines values?

• What do customers see as quality financial products and services?

• Will implementing a whole quality management strategy help banks improve the quality of their product and service delivery?

• How can banks meet the wants and needs of customers?

1.2 Objective of the Study

This study’s main goal is to:

· Research how comprehensive quality management can improve client interactions, profitability, and the bank’s corporate image.

• To investigate the output performance of the Nigerian banking sector.

• To investigate the demand for quality products/services in banking.

• To consider how overall quality management can be successfully implemented in banks.

• To consider the importance of whole quality management in banking.

 

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