The blog activity for this week requires you to select an organization from the Retail Sector and discuss their use of social technology.
Macquarie Bank
belongs to a group of companies operating under the financial sector in a
number of countries across the globe including the USA, Australia and
Netherlands. The Macquarie Bank Group provides advisory, banking, investments
and funds management and financial services under four categories namely
adviser, business, personal and corporate, institutions and government. The
functional areas of the bank explored in this blog are product development and operations
and distribution as identified by McKinsey (2012).
Under these
organisational functions, the Macquarie Bank have social technologies for
smooth operations. However, it can also embrace others for enhanced efficiency.
The bank currently used applications including Mobile Apps and Sybase whereas
potential social technologies include the Radian6.
The Sybase tool
helps in integrating employees in working, hence promoting teamwork since the
employees keep in touch with each other (Cassidy & Cassidy, 2010). This
tool will enhance productivity of the employees. Mobile Apps and Radian6 will
help the bank interact and collect information about current and potential
customers, hence giving it an opportunity to incorporate the customers’
preferences into newly developed products and/or services (Barclay, Dann and
Holroyd, 2010).
References
Barclay, I.,
Dann, Z., and Holroyd, P. (2010). New
product development. Woburn: Routledge.
Cassidy, A.,
& Cassidy, D. (2010). A practical
guide to reducing IT costs. Ft. Lauderdale: J. Ross Pub.
Finally something out of the box! I was hoping to see posts related to a bank, but all I could see is posts on IT firms, shopping sites etc. I found your post interesting and I admire your decision on writing a post pertaining to a bank. Keep up the blogging spirit! Cheers!
ReplyDeleteGood read Atheer! Banks are the most sought-after in terms of customer services; and social media presence of banks these days could be a vital indicator of the customer's value in banks.
ReplyDelete