Improving Reputation of Banking Industry

Research Proposal Summary

Summary/Abstract

Reputation is one of the most fragile and valuable assets for a bank to have. For any business, establishing and maintaining a customer base is crucial. Status is the key component to building consumer and public trust. Its impact is genuine.

What are some benchmark and best practices for improving the reputation of organizations, especially those in the finance/banking industry?

Primary Data Collection Method

Because social media is so prevalent, utilizing social media outlets to gauge perception is essential. Social media has become a haven, a place where people share their personal lives as well as their opinions. Customer ...

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my research questions. Customers provide business with accurate insight. Their feedback allows businesses to learn what is and is not working. The banking business is customer driven and extremely competitive. Therefore, to improve customer retention in banking, organizations must focus on becoming more customer-centric -- and delivering experiences that wow, delight, and inspire loyalty (Bassig, 2019). Feedback is an important component of creating a viable business. customers, and the cost the bank is willing to incur to maintain those relationships (Fang, 2000).

Challenges and Opportunities

The ethical considerations in researching the banking and financial industry are ensuring customer privacy and confidentiality. One of the challenges in doing this research project involves the accuracy of data collected. Customers or others surveyed could be biased/dishonest. Their opinions could be based on word of mouth, not what they have truly ...

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Improving Reputation of Banking Industry. (2020, April 19). Retrieved July 30, 2021, from http://www.essayworld.com/essays/Improving-Reputation-of-Banking-Industry/107301

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"Improving Reputation of Banking Industry." Essayworld.com. April 19, 2020. Accessed July 30, 2021. http://www.essayworld.com/essays/Improving-Reputation-of-Banking-Industry/107301.

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PAPER DETAILS

Added: 4/19/2020 10:05:36 PM
Submitted By: ariechan
Category: Business
Type: Free Paper
Words: 337
Pages: 2

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