Looking at the criticality and importance of this research, it will be best GCB to outsource the research so as not to incur much cost in training and/or employment of new workers. The following are some internal resources that GCB will need to provide.
Although the research study will be outsourced, there will be three (3) delegates from GCB to be part of the research agency so as to bring about coordination between the agency and GCB. There will also be the need to employ more men to handle that project.
During the research, GCB will not nedd to provide and equipments for undertaking the research. But they will need to provide an office and equipments for smooth management of the project after the research. These include computers, office stationary and other needed materials.
Get your grade
or your money back
using our Essay Writing Service!
GCB is an organization with a very good financial base, and therefore, provision for research work and the management of the project will not be that difficult. If there is no budget allocated for the project, they will therefore have to provide some budget for the project.
Management of GCB will also have to re-adjust their structures to inculcate the project management. These will include, changes in information flow, reporting systems and other management chains. Management will also have to give their full support to both the research and the project.
Internal data will be needed for the research project management. Information like customers' database, market analysis, market share and other needed information.
Since the research work will be outsourced, there is the need for a research agency to undertake the research.
Also, GCB will need information like competitors' strategies, government information and other research findings of a similar research, which is the secondary information.
GCB would need to provide or fund the research, and since it will be outsourced, GCB needs to provide an amount which will be used to budget for the research. And after the research, GCB must also provide budget for implementing the project and these include training of existing members or employing more workers for handling that project. There will also be the need to provide equipments, office and petty cash for the smooth running of the business.
To help GCB incorporate feedback/complaints management of customers in their operations for effective performance.
In incorporating feedback/complaints management, GCB will be able to identify their shortfalls and needs of customers so as to satisfy and delight their customers through the services they provide.
The customers, on the other hand, will be very pleased and satisfied, since at the long run, their needs will be met by the organization through the improvement of its entire working department.
Increase in budget
Changes in organizational and management structure
The need to purchase new equipments for project
Lack of management support for the project
Fewer funds will be allocated to the project since it was not initially part of the budget for the year
CORPORATE PROFILE OF GCB
Ghana Commercial Bank Ltd. started in 1953 as the Bank of the Gold Coast to provide banking services to the emerging nation for socio-economic development. The Bank was to provide special attention to Ghanaian traders, business people and farmers who could not elicit support from the expatriate banks. Since then GCB branches have been opened across the length and breadth of the nation tapping the potential of the 10 regions that make Ghana. The Bank had been wholly government owned until 1996 when under the economic recovery programme part of the government ownership was divested. Today government ownership stands at 21.36% while institutional and individual holdings add up to 78.64%. From the one branch of the 1950s, GCB now has over 150 branches and 11 agencies throughout the country.
GCB abounds in high quality human resource, which stands at 2,101 as at the end of 2009. This is remarkable when one considers that the Bank started with a staff of 27. Currently there are professionals of various disciplines who work in tandem to achieve the objectives of the Bank.
Always on Time
Marked to Standard
The growth of the Bank has been synonymous with its customer base. During the first five years of the Bank's operations, our customers were mainly small Ghanaian traders (now termed SMEs) and other nationals who were expected to maintain credit balance accounts because the Bank was then not adequately capitalized. From the small trader as customer, GCB now has a customer profile that ranges from salaried workers through small and medium scale entrepreneurs to large trading concerns, quasi-governmental institutions and corporate customers.
GCB provides a wide range of products and services for the benefit. of its customers. From the traditional products of the Current/Savings Accounts, GCB now offers specialized products and services including:
CEDI TRAVELLERS CHEQUES
PERSONAL CEDI LOANS
CORPORATE CEDI OVERDRAFTS
CORPORATE CEDI LOANS
CORPORATE FOREX OVERDRAFTS
CORPORATE FOREX LOANS
SMALL BUSINESS FINANCE SCHEME
BULK CASH COLLECTION
FOREIGN EXCHANGE DEALING
MONEY MARKET OPERATIONS
FOREIGN EXCHANGE ACCOUNTS
FAST INTERNATIONAL MONEY TRANSFER
LETTERS OF CREDIT
In addition, GCB has taken advantage of an enhanced information technology system, to introduce Internet Banking (Commernet Plus), Royal Banking, Smart Pay (Fee Payments), Kudi Nkosuo, GCB Inland Express Money Transfer, International Money Remittance Payments, GCB Kidistar Account and MasterCard. All these have been done to increase profits and enhance shareholder value.
To be the established leader in banking, satisfying the expectations of customers and shareholders, providing a full range of cost efficient and high quality services through the optimization of information technology and efficient branch network.
For the achievement of this mission, the Bank is committed to:
The provision of first class customer service.
Focusing on our core business/competencies-commercial banking.
Constant improvements in the use of information technology.
Ensuring that staff are well motivated and have a conducive work environment.
Recruiting and retaining the best human resource to carry out the Bank's mandate.
Applying best practices in internal policies, procedures, processes and service delivery.
Constant improvement in shareholder value.
GCB has a twelve-member board
Mr. Kojo Thompson (Board Chairman)
Mr. Simon Dornoo (Managing Director)
Mr. Fiifi Kwetey (Non-Executive Director)
Mr. Lovelace Prempeh (Non-Executive Director)
Mr. Samuel Amankwah (Deputy Managing Director - Finance)
Dr. Fritz Gokel (Non-Executive Director)
Mr. Samuel Sarpong (Deputy Managing Director - Operations)
Mrs. Charlotte Osei (Non- Executive Director)
Mrs. Adelaide Mary Benneh
Mr. Joshua K. Peprah
Ms. Lauretta Vivian Lamptey
Mr. Elliot Gordor