Abstract
This study was on effects of customer service management on company development a case of study of access bank plc osun state. Three objectives were raised which included: To ascertain the relationship exists between market research and company development in access bank plc Osun state, to ascertain the extent in the relationship between customer assessment and company development in access bank plc Osun state, to ascertain the relationship that exists between customer satisfaction and company development in access bank plc Osun state and to ascertain the relationship between customer relationship management and company development in access bank plc Osun state. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from selected access bank plc Osun state. Hypothesis was tested using Chi-Square statistical tool (SPSS).
Chapter one
Introduction
1.1Background of the study
With today‘s turbulences of economic situation as well as emerging needs and requirements of customers, all businesses from both public and private sector. Serving customers put greater attention in fulfilling those needs and requirements (Rahman et al., 2012). In this state of affairs, the act of polishing its employees‘ skills, knowledge, teamwork and passion are usually done as a process of ensuring better performance delivery as the growth in customer demand requires growing research attention on improving the customer service management delivered in contributing to desirable customer outcomes (Fiori et al., 2007). Customers today are highly informed and more demanding. Service quality, service speed and responsiveness to customers‘needs and wants has become important for firms to succeed and this calls for the improvement of sales growth and employee growth that can enhance organizational growth status (Olomi and Rutashobya, 2002).
Customer service being an asset to any company and in the urge to improve and transform; employees are always considered as an important driving force towards change (Galbreath, 2012). Improvements ensure better employee performance and are also linked to achieving company goals through customer services enhancements (Liao and Chuang, 2004). Likewise, ensuring better quality customer service performance is always crucial in today‘s servicing industry as organizational performance can be best evaluated based on the service delivered to customers (Rosenblatt, 2003). In relation to performance outcome and high delivery on quality services, customers that are satisfied with services received will purchase more, and come back to get the services (Belal and Owen, 2007). Therefore, mutual relationship and bonding between employee and customer is very important in determining good interactions and satisfaction as employee‘s behaviour and motivational level plays important role in influencing customer’s perception of the service being delivered (Liao and Chuang, 2004). Furthermore, feedback is also an important outcome mechanism in ensuring good service deliverance as with this, it can be alleged that customer feedback and employees performance become one directional improvement initiative (Rhee and Bell, 2002).
The importance of Customer Service Management (CSM) has now become very important in the Nigerian banking industry. As noted by Ezeoha (2007), the banking industry is now confronted with a fundamental business challenges-survival and success in a turbulent environment. As Nigerian Banks face further deregulation, increasing competition, and continuously evolving customer demand and expectations, they have to adopt proactive approaches in other to guarantee improved performance. Hence, building and maintaining a strong business reputation has become increasingly challenging (Khong, 2005). The outcome of internal fragmentation that is observed and commented upon by customers is now visible to the rest of the world in the era of the social customer. Addressing the fragmentation requires a shift in philosophy and mindset in an organization so that everyone considers the impact to the customer of policy, decisions and actions (HartDavidson et al., 2008; Kostelnick, 1998). Human response at all levels of the organization can affect the customer experience for good or ill, even one unhappy customer can deliver a body blow to a business (Pennington, 2007).
Statement of the problem
The aftermath of the consolidation led to radical changes in the way these Nigerian banks conduct businesses. With the banking industry opened to more foreign and local competition, through consolidation and globalisation, the rivalry in the banking industry is expected to intensify dramatically. As the market begins to saturate, customer retention will be a key factor in determining the success of these banks (Ezeoha, 2007). In short, under such intense competition the bank that has the largest customer base and highest customer retention rate will be a market leader in the industry (Gunu, 2009)
Customers are the driving force of companies striving for success; hence, survival of these companies evidently depends on their customers (Lewis, 2000; Kotler, 2000). As competition intensifies, customers find themselves relishing the options and alternatives various companies can offer them. If they are not satisfied with the current products or services, they can easily switch to others. Since its now a buyers’ market, the need for good CSM is imperative. An improved CSM can expedite and enhance customer re-buy, hence leading to improved customer satisfaction, customer retention and relationship management (Khong, 2005; Khong and Mahendiran, 2006). Ultimately the quality of customer service becomes a driving force in ascertaining business survival in the banking industry (Khong and Mahendiran, 2006).
In addition, degradation of customer service level is highly probable (Khong and Mahendiran, 2006). According to Gunu (2009), business performance will be affected when customer service level is compromised during bank mergers and acquisitions, due to the consolidation effort. Therefore merged banks are not assured immediate success albeit the merger plan is preparing them to meet the challenges of globalisation and liberalization (Khong and Mahendiran, 2006). Although the rationalisation of resources allocation and business processes such as customer service and productivity is inevitable, these problems can be resolved with proper integration and management, through effective customer service management (CSM); hence, with effective CSM, business performance of Nigerian banks can be improved (Ezeoha, 2007).
Objective of the study
- To ascertain the relationship exists between market research and company development in access bank plc Osun state
- To ascertain the extent in the relationship between customer assessment and company development in access bank plc Osun state
- To ascertain the relationship that exists between customer satisfaction and company development in access bank plc Osun state
- To ascertain the relationship between customer relationship management and company development in access bank plc Osun state
Research hypotheses
The following research hypotheses were formulated
H1: there is no relationship exists between market research and company development in access bank plc Osun state
H2: there is no relationship between customer relationship management and company development in access bank plc Osun state
Significance of the study
The study will be very significant to students and banking sector. The study will give a clear insight on the Effects of customer service management on company development a case of study of access bank plc Osun state. The study will also serve as a reference to other researchers that will embark on the related topic
Scope and limitation of the study
The scope of the study covers effects of customer service management on company development a case of study of access bank plc Osun state. The study will be limited to access bank in osun state
Limitations/constraints are inevitable in carrying out a research work of this nature. However, in the course of this research, the following constraints were encountered thus:
- Non-availability of enough resources (finance): A work of this nature is very tasking financially, money had to be spent at various stages of the research such resources which may aid proper carrying out of the study were not adequately available.
- Time factor: The time used in carrying out the research work is relatively not enough to bring the best information out of it. However, I hope that the little that is contained in this study will go a long way in solving many greater problems.
Definition of terms
Customer service management: Customer service management is how a company runs its customer service operation and enables consistently great service experiences that drive customer loyalty. It includes everything from training new service reps, to optimizing support processes, to measuring service success. Company development: the ideas, initiatives, and activities that help make a business better. This includes increasing revenues, growth in terms of business expansion, increasing profitability by building strategic partnerships, and making strategic business decisions.
This material content is developed to serve as a GUIDE for students to conduct academic research
EFFECTS OF CUSTOMER SERVICE MANAGEMENT ON COMPANY DEVELOPMENT A CASE OF STUDY OF ACCESS BANK PLC OSUN STATE
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