Prepared by

PGP25_12_BC_F

Aadit Aggarwal - 311

Mrinal Bage - 342
Sukrit Shukla - 363
Swayamprabha Mathur – 364

Prepared for
Business Communication

TITLE : MANAGING CUSTOMER REALTIONSHIP

Date
July 31st, 2021
EXECUTIVE SUMMARY

The purpose of this study is to analyze the case at hand, and deliberate upon the challenges
faced by each subject, propose alternative solutions and choose to implement the best
alternative. We identified our primary subjects to be Rukmini Devi, the plumber’s daughter,
and the bank. Rukmini Devi is a 76-year old widow who lives alone without any family
support system, and survives on her pension. The plumber’s daughter appears to be a
teenager, who is about to join a college. The final subject is a bank, where Rukmini Devi
maintains a checking account. We analyze how an interplay between these 3 subjects evolves
into a great proportion at the happening of a small event, and how it has a cascading effect.
Taking into consideration each subject’s situation, we suggest the solutions which the bank
could implement.

CHALLENGES

The protagonist in our case is Rukmini Devi. From her description and given the situation,
we identified two challenges with her character. First, she has no family support and lives
alone. While this is her choice, but it acted as a challenge for her. Second, she is not tech
savvy, due to which she failed to notice the text message and could not act in time.

The other character is the plumber’s daughter. The challenge in their situation was that it was
the last day for making fee payment for college. The cheque bounce created a panic and the
daughter acted in an irrational manner. She could have communicated the situation to
Rukmini, instead of posting on social media.

The primary challenge for the bank is providing a standardised service to all the clients.
While it may be convenient for a bank and might be logistically feasible, it acts as a challenge
when the customers belong to a diverse age group. The bank may not be able to cater to the
needs of all its customers through a single standardised service, and it may not be able to
maintain good customer relationships.

Another challenge in the situation is that there was a delay in the processing of pension
payment. The bank must follow the rules and regulations, and must only honor the amount to
the tune of balance available in the account. The bank was helpless in this case, and had no
other option than to dishonor the cheque.

ALTERNATIVE SOLUTIONS

1. Banks should make some changes in their algorithm in which they penalize the customers.
The change in banking algorithm can take into account the delay of payment from the
government’s behalf, which caused the entire incident. If banks could gauge delay in a
regular payment then they would not penalise Rukmini Devi and would consider to give a
personal warning before taking action.

2. Banks should have a customer relationship manager to provide personalized details to

customers regarding the cheque. They should address the different needs of customers by
having their executives interact and understanding the needs. This will help build trust of the
customer by giving a personalized touch.

3. Banks should implement automated calls instead of relying on text messages. The
automated process becomes very lengthy and difficult to navigate for customers. The
concerns should be directly taken up by bank executives. This would help in faster resolution.
4. Applications should be more user-friendly and one person must be allocated per hub to
train senior citizens on using the app so that their perils of using and telephonic customer
service is eased.

RESULTS

For the implementation of a solution, one must consider factors that are important in a
business point of view. For the evaluation of these alternatives, metrics are assigned to each
parameter. The solution must be easy to implement and practical, it should be economic in
terms of money as well as time. It should also be effective in resolving all the stated
problems.

The weightage given is high for the solution's effectiveness and feasibility and low for cost
and time as the solution brings wealth in terms of customer retention and satisfaction.

S.No. Solution Rating on Cost Time Effectiveness\ Total Score

Feasibility (2) (1) (4) ( W1
(3) *R1+W2*R2+W3*R3+
W4*r4)

1 Assigning of a Customer 5 2 4 3 35
Relationship Manager for the
Senior Citizens

2 Replacement of Automated 5 5 5 1 34
Messages to Automated Calls

3 Individual Tutorial for use of 5 5 5 2 38

Applications

4 Banks should make changes in 1 2 1 3 20

their Algorithm

PREFERED SOLUTION

The banks should assign a Customer Relationship Manager to create a user-friendly

environment for the senior citizens and there should be a provision for individual tutorials for
the use of applications.

IMPLEMENTATION PLAN

Figure 3 gives a step by step approach of the implementation plan starting with data
collection and organization followed by recruitment and training of the manpower. Finally
mapping customers to their relationship Managers with whom they can approach with their
queries and who will keep them updated on every banking service and glitches. Thus solving
the problem of lack of human touch and the difficulty of technical knowledge to make
effective use of app based banking services.

CONCLUSION:

We can conclude from the analysis of our case, that a small problem can evolve into a large
proportion in the absence of proper and timely communication. In this case, there was a lack
of communication from the plumber’s daughter, who chose to vent out her feelings on social
media rather than talking to Rukmini Devi. Also, the communication from bank about
dishonor of cheque was not effective because it did not serve the purpose of notifying
Rukmini Devi. Also, a lengthy customer service process acts as a barrier for a senior citizen,
and exacerbates the pain if the customer is not tech-savvy.

REFERENCES

RBI BANKING FACILITIES SENIOR CITIZENS HINDI

14 Year Old Conducts Classes To Make Senior Citizens Tech Savvy

Senior citizens become tech savvy

APPENDIX

Factor Weightage

Effectiveness 4

Feasibility 3

Cost 2

Time 1