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Development and Application of the Concept of Modern Bank in the Financing of Companies in Romania Dr. Petru Popescu, Ecological University of Bucharest, Bucharest, Romania, petrupopescu@ymail.com
Dr. Ana-Alexandrina Popescu, Ecological University of Bucharest, Bucharest, Romania, alexandrina.popescu@ymail.com
Abstract Automation of performing the operations in relation with the bank will require a substantial effort to adapt to the new requirements but logistics company will be the main beneficiary and the costs will have to be paid accordingly. Banking procedures and techniques will know in a short time new developments in relation to companies, regardless of its inquiries because if a bank wants to remain competitive in the market and get the performance you need to identify those levers which to to protect and maintain the competitive system became increasingly powerful and complex. Customer service quality but still be a barometer of assessment and diagnostic analysis of any commercial bank that has reduced the quality can often mean that the effort investment in human and material resources are no longer meets the new requirements imposed by the market or are insufficient. In the latter case the bank restructuring and reorganization activity will be the best solution. The same statement is true for companies in competitive conditions will replicate quickly to new requirements. Rethinking the entire system will be applicable internationally uniform one, so elemenetele generating financial crisis, economic or social to be strictly limited. The problem is how quickly will achieve this goal and the ability of central banks and concerted effort to impose a new regulatory and supervisory mechanism.
Keywords: european integration, risk control, competitive banking services, banking control decisions Introduction
Financial innovation maintain the flow of capital flows. In this way the system is truly one of the communicating vessels. There are no more isolated regions of relaxation times of global financial market, because, as we accept the idea of financial globalization, the existence of global financial markets is necessary for granted - only varies its level of integration. The second important factor that we found that financial innovation is manifested regulating capital markets, both in terms of restrictions on the operations performed to control the associated risks, and to address existing regional political boundaries as a factor limiting the circulation of capital. Finally, we found and proposed solutions in the article on the role of technological and financial innovations in terms of competitiveness that can provide mechanisms managementului operation under the new conditions caused by financial globalization. Research is motivation and justification mechanism functioning of financial globalization. Cultural innovation occurs as a consequence of a fundamental element: information dissemination on a planetary scale that allowed not only initiate trades, but their acceptance as part of the lifestyle of the majority of mankind. Thus, mediated by the same technological innovation, the flow of information from around the world led to the elimination of isolationist tendencies, self-sufficient, which often had psychological rather than actual databases. At present, we can discuss just about media globalization and behavior on the spread of the Internet and other forms of communication and increased mobility of marketing ideas. All this neo-enlightenment, presented theory especially case studies in the thesis was translated into financial terms of economic actors.
1.Topicality investigated theme.
News research is mainly determined by the financial crisis that started in 2008 and has covered almost the entire planet, turning into an economic crisis from the perspective of economic and financial theory. One of the concepts that are worth to discuss when talking about the current financial crisis is globalization - the economic and financial. The concept of financial globalization is questionable today, the more as the first truly global crisis in the history of the modern world is very concrete evidence to support the validation of his existence. Years 1989-2012 are those in which globalization has become a defining aspect of social life, political and economic in Romania. Moreover, it can be said that for the first time, this period may be used for the purposes of his own, without waivers. The term globalization gathers several concepts, such as the development of global financial markets, increasing the role of transnational corporations and their growing importance in relation to national economies. World practice shows objective reality in modern conditions of development as strategic direction for each country that integrates bet on the modern market economy and highly competitive. Profound economic reforms, which takes place in Romania to mitigate the deficit, strengthen spending on economic basis agreed with the main creditors, growth, improving infrastructure and key industries with potential, and especially of agriculture as an alternative to the global food crisis prefigures the medium and long term. Wide open for communication involves integrating financial and banking system in the European and world economy. The development and application of future bank concept in Romania has a significant impact on business financing as a result of bank management application performance bet on competitive conditions. Banking process management plays a decisive role in financial and banking activities, its efficiency is directly dependent bet on the overall economic development. In this context, we considered that both methodological aspect, and the practice of bank management bet on competitive conditions in the current period requires further studies.
2. Future Bank and the Romanian banking system stability in accordance with company requirements
Sales are the most important in getting performance but standard service expected by customers of commercial banks. In this paper we present both specific regulatory aspects of banking activities but also practical scenarios for structured bank products and services targeted customer segments. We approached the bank management as a decisive component of economic and financial system and developing its activities was treated according to the constraints that act in different ways and plans and economic environment, situation and customer requirements, technology, competition. In this paper we investigated theoretically and pragmatically but considered major problems, of which listed mainly the following: structuring techniques offer products and services targeted customer segments, according to their specific application, the influences on organizational structure. From this perspective, we studied the development and maintenance of a unified customer database containing information on the type of activity, type of ownership, size depending on the number of employees, financial and economic results obtained, etc.. in the financing and management firm market positioning instrumental approach we have European models based on different mathematical schemes rigorously analyzed the interaction between different components. This approach creates a state of comfort deeper understanding of the issues addressed. The research made that bank management in competitive conditions require further improvement of operational activity. This is a process based on specific types of banking activities that take into account the continuous increase of the degree of automation and integration of operations, of the transaction in real time and simplify paperwork circulation. We found that in a competitive bank management takes into account the tendency for an investor to diversify their capital investments not only across sectors and regionally, but also globally. Moreover, this new approach is not only a phenomenon, but a table and even a state policy. To support this claim, it is enough to recall the case of SWFs as state investment vehicles. A phenomenon still in the process of being shaped and understood, but just live it, is the economic crisis that has become manifest since 2007. Without claiming to oppose a view comparable to their level, we still tried explaining some of the features of this global phenomenon. From the point of view of bank management strategy and relationships with companies in the article we present the main actions are: -Continuous monitoring of competition in terms of the range of products and services offered, the facilities conferred its peculiarities, requirements or firms approach; -Promote dynamic sales campaigns and offers to the target segment of customers and offer customization according to their specific needs and opportunities; -More active approach by competitive firms: making a permanent exchange of information between the bank and customers that notify them to offer products and services and introduced new facilities, but also to receive requests and any complaints, involving direct managers of territorial units in attracting and retaining clients in solving complex problems and providing consulting with sales forces and the relationship with responsibilities in monitoring firms. From the research presented, resulting some common guidelines banks that they are considering the development of work procedures and use appropriate techniques in bank management performance: And innovation and diversification of products and services; -Attracting new customers and maintaining existing base; -Penetration of national and international capital markets; -Profile affiliations with non-banking units; -Improving the image bank by enhancing market positioning.
We conducted a scientific approach to persuade readers and prestigious personalities in the specific area that the innovations of the future bank and bank management in terms of competitiveness will be further deepened and popular scientific environment. In this part of the article we present the analysis of the following elements: • Diagnostic analysis Romȃnia banking system. • Strategic management and operational management internally and Europe. • Systemic approach to policy management. Time management and interpersonal relationships. • Analysis of responsibility at work. •Service quality and complaints management. In development strategy to take account of the current situation and future trends as well as some factors to consider sustainability and the future such as: further development of market economy mechanisms, improving the legal framework appropriate these tools, maintaining economic growth; continuation and intensification of real privatization with emphasis on the qualitative side of it, promoting financial and structural policies aimed at reducing inflation, increasing annual volume of foreign direct investment, the gradual reduction of payments trade deficit, accelerating the process of economic integration in the European structures . Personal contribution in this research consists of the following values: To be able to maintain existing customers and attract new customers, but commercial banks to provide solutions that can generate new forms used in products and Banking Services in a much higher degree of attractiveness as well as alternative solutions that significantly improve bank performance. Firms will have available working procedures and modern banking techniques and simplified than we can provide them with much needed competitiveness especially during this time of economic crisis. Innovation requires a rapid response and flexibility to market changes, including environmental, gaining market share through better meet customer desires, changing saturation limits by creating alternative distribution channels for products and banking services and increasing the rate of release new products in order to reduce substantially the time of replacement. Given that commercial banks on the Romanian market competition has increased substantially, a new approach is needed banking by introducing performance management in bank strategy of working procedures and techniques adapted to the new requirement. Also bank, the new manager has to adapt quickly and carefully so that firm behavior is in that person feel like a professional counselor. There are few cases where a customer moves from two or more branches of a commercial bank and the manager each offer different solutions to the same situation. Being a good manager and win business interest is to give the best solution to his problem. Some managers think sometimes only achieve their targets set by upper link organization, knowing that weekly or monthly will be analyzed the quantitative touch you down. When we refer to the role of management in the new conditions of competition should consider the computerization of bank activities caused significant changes in bank management approach and methods used by the branch manager who comes into direct relationship with the company. Basically, computerization of commercial banks allows employees to increase substantially the volume of operations as computer allows direct access to the procedure established work in developing banking product or service without needing a consultation paper. Competitive firm is turning to computerized banking services directly from its headquarters and moving to a unit of the bank is made only in special cases that can not be replaced at the moment. Modern banks have standardized bank both in terms of staff numbers, staff, IT applications and how easy to use product sheet by employees, as well as other points of view as signage, advertising by LCD monitors , logistics performance for specific banking activities, civilized and pleasant environment, furniture and colors unitary structure used in all branches, professional conduct electronic display tables on the exchange rate, the interest on deposits, the fees, leaflets and brochures promotes brand bank offering customization of products and services of the bank, general business conditions, etc.. For businesses, the benefits of such an approach is even more beneficial because it allows to maintain and if possible to expand business in growth competitiveness in a market situation that is becoming more and more narrow in times of crisis.
In the article we made a redefinition of processes within the organization structure: o A redesign of the situation aims at better content that is based on an analysis of criticism of poor performance and their causes. o Rotation involves moving items to individuals after an other, to increase the interest and motivation. o To increase job performance which involves increasing the number and variety of tasks and responsibilities included in job skills. These redefinitions involve a new approach to interpersonal relationships within the project management and product management and business banking services.
3. Guidelines in banking management strategy in terms of competitiveness
We analyzed the following topics: a) Evolution of Romanian and European banking policies for the client. b) Approaches the bank-client relationship. c) Workflows and procedures. d) Analysis of the main objectives of the bank's customer selection, structured target segment. e) The design and development of products and services. f) The product portfolio for customers according to the stages of life. g) Performance Indicators. This personal approach shows that there are few commercial banks that take a real lack of customers and customer prefers to perform regardless of their contribution to adding value to pay employees without than they are not in contact with the company and achieve allowing income to cover staff salaries and operating expenses derived from fees charged for transactions.
4. Principles of new models of service firms to increase market share
In this paper we address the problem of personal banking management strategy with customers, new guidelines for increasing market share, scope and objectives of the new models of service, training sales staff. We used standard serving retail and selling pro-active principles (identifying customer needs, offering alternative solutions, providing beneficial solutions for customer, promoting cross-selling products, and so on). The objective is to stimulate improvement in service quality performance in branches / centers by applying standards of service mortgage retail., and has a 15% share in the scheme of reasoning. The results: Customer Satisfaction Surveys Service quality is monitored at least once a year through surveys, in order to determine the degree of satisfaction, including ways to resolve complaints. Ombudsman To resolve customer complaints in the most effective and proactive manner, modern bank was founded in complaints management. It is organized on three levels: Branch - if the customer makes complaint in branch counselor and client branch manager has the responsibility to solve the problem in order to achieve customer satisfaction, depending on the situation and skills. Retail District Manager / Regional Manager Corporate - branch if unable to resolve the complaint or claim refers to the branch manager's attitude, it is sent to the County Manager Retail / Corporate Regional Manager. Central - if customer complaint can not be resolved at the first or second level, it is forwarded to the Ombudsman (Office Complaints Management - Total Quality Management Department). Sales competitions as proposed are focused more on individual performance, taking into account the existing bonus system that rewards performance teams.
Personal conclusions and proposals on issues raised at this point in the article: Need service quality is a real problem for banking and financial service providers. Banks should monitor its level and ensure that it is high enough to capture the interest of the client to offer banking. Service quality and continuity of supply of products and services will help increase customer loyalty, they are thus less inclined to evaluate alternative use competing services. In the modern economy, banks' activities have produced several major events:
Force big banks amplification correlated with increased internationalization and uneven development of the nation's banks. Progressive substitution of specialization banking operations with their universality. Sensitive recording of changes in the relationship between state and private banks. Increased modernization banking techniques and computer technology. Strong development of the Internet and mobile telecommunication has not spared, thankfully, Romania, such as a series of major industries to take advantage of new technologies. Thus, the banking industry has come in recent years with a new market: the launch electronic banking services, a viable alternative to traditional banking services, which include this client bank teller. Electronic banking services are divided into three categories: Internet Banking, Home Banking and Mobile Banking. These services enable the development of banking transactions using a computer connected to the Internet (Internet Banking and Home Banking) or mobile phone (Mobile Banking). But consumers are reluctant about alternative payment methods offered by banks, whichever classic payment with money order or cash. For this reason it is very important how banks develop their products and services, but especially how they are made known advantages of their use: the possibility of error is decreasing, a good control over payments for achieving a as its lower. The decision to appeal to these new services and banking products and financial standing is linked to the consumer, but also the nature of the transactions in which they engage. As these products and services innovations will be close to the consumers already known, giving up the traditional methods will be faster and increasing rates.
5. Integrated Management System
We analyzed this problem and we are following consideration of the measures to increase; growth competitiveness of banks: • Know the purpose and scope of the integrated management system. • Development, approval and revision of the integrated management system. • Rethinking integrated management system documentation. • Redefining terms and definitions integrated management system. • Applying quality management system (QMS). • Increased management accountability. • Reviewing and redefining product sales and management services. Following this analysis we identified the following elements: Management commitment - top management organization approved in 2012 to create an organizational structure that allows implementation in the bank's new quality management system. For this purpose, established quality policy and objectives in the medium and also lead to management reviews to ensure the availability of resources necessary to achieve these goals. Customer focus - management commitment at the highest level to determine, meet increasingly diversified customer needs and increase their satisfaction. Quality Policy - Policy priorities for defining the approach and strategic objectives for the period 2012-2017 are quality following action: Planning Quality objectives - in order to implement the quality policy statement for the period 2012 - 2017, management at the highest level is to achieve the following objectives: - Improved performance in serving area; - Annual growth of 5% increase in customer satisfaction in the relationship with the bank; - Involve all staff in the process of continuous improvement, preventive activities, carried out systematically in order to optimize all processes of the bank. The general objectives are broken down into functional entities / territorial units / services and the fulfillment of these is evaluated in the management.
Responsibility and authority - were established and included in the job description responsibilities for key functions within the bank, with an active role in quality management: Quality Manager, Deputy Executive Director and specialists in the MCT, quality coordinators (functional entities executives / territorial units ), executive deputy heads of work, quality managers. Also, each stage of a documented process are mentioned responsibilities, specifying function and functional entity / territorial unit to which it belongs. Internal communication - the bank has been established and documented process of "internal communication" which follows the existence of an adequate communication, both vertically and horizontally, between all staff, effective communication within the organization by providing rapid transmission to all employees of all information necessary to carry out all activities and management decisions. The inputs of the analysis: - How to perform the proposed actions for each input element in the analysis, according to tracking sheet measures plan developed after analysis of previous management; - Quality audit results; - Corrective and preventive actions following the registration of non-compliant and / or non-compliance; - The degree of achievement of objectives in the quality of commercial banks in the analysis dashboards. Elements out of action for improving effectiveness analysis by QMS, processes / products relative to customer requirements, identifying resources needed improvements considered included in the Action Plan as a result of management review. Planning of product realization - after market research conducted by bank draft or improved products are planned to be made by the responsible processes whose results are products.
Improvement Continuous improvement - clause aimed at improving the QMS mode by taking into account the analysis of nonconformities, quality objectives, customer satisfaction, quality audit results, corrective and preventive actions implemented, using the results of management reviews.
6. New principles of sales management and banking products to companies
We conducted research and case studies on: • Principles of Retail Management. • The methodology for establishing targets Retail - General rules. • The allocation methodology targets. • Coaching in reconsidering and redefining management. Bet on research conducted and presented in the article we identified the necessary features to make management coaching, namely: Knowledge. Retail team training, and Retail itself requires a very good knowledge of products and services to customers and how to deal with different types of clients, techniques and process Retail Retail and providing banking services. Communication skills. A good manager-coach must be able to transmit their knowledge and opinions clearly, concisely and in Cares motivate a team of Retail. Planning. The coaching process is the result of a mixture of informal and formal activities, carried on a plan, to achieve a certain goal (performance level of the employee). For coaching to be one of the effective manager must know the difference between coaching and training. Thus, the training is to provide knowledge, skills and tools to perform retail sales team. Coaching is a continuous process to help team members to identify and overcome obstacles that prevent them obtain Retail performance. Feedback is usually of very short duration (5 minutes) and it is, if given correctly in informal coaching session very useful for employees. It is recommended that each team member Retail and give feedback to the director at least once a week. We presented the main bet on these elements results from research and case studies analyzed: • Need diligence firm by the bank. • Financial Diagnosis financial analysis tool. • Diagnostic analysis of firm performance. • The role and importance of the business plan. • The manner of drafting and supporting business plan. • Promoting business plan.
Conclusions Article discusses the many and complex problems from a bank diligence Romanian banking system in conjunction with European and international developments, presentation bank policies on strengthening customer relationships, performance management, optimal financing decisions of firms competitive, market management company positioning , orientations and bank management strategy, etc. .. Banking trade policies based on different procedures used managemnt and techniques in practice and performance trends reveals that the bank wants to achieve in highly competitive conditions. The main means used can be grouped into two categories, namely: quantitative projections in various activities where the bank using numerical data, statistical and accounting, often using computrizate and qualitative models, based on simulations and especially conceptions and approaches team of different processes. In the article we realized concept presenting some aspects of bank management performance in highly competitive conditions, applicable in international banking activity, European and international treaties a new approach procedures and techniques used in business banking company.The research conducted within its article we brought a contribution on the following recommendations for bank management in terms of competitiveness: Ability bank is to get documents and information without raising suspicion from the company or feel abusively interrogated, because you always have to start from the premise that money is " clean and they rarely come from activities suspicious. Bank employees determine the action of so-called assessment firm its value can be quantified based on ratings laying whose procedures are established and tested previously. Information on segmentation not only have to be obtained and archived, it is necessary to implement a periodic update process that can track changes and developments and new trends in the field concerned. Especially about firms are important information on quality management, the basis of their profession, age, the firm's ability to obtain additional income from other activities or rent, rental property, etc.. To determine the importance of bank profitability divided by customer segments in order to create specific offers that is best adapted to the segment. The purpose of selection is to retain customers these companies have sufficient resources to continue in new conditions determined by national and international economic crisis and to redirect clients who no longer bank interest to other institutions of the same type but whose policy regarding customer is given segment coincides with or simply aim only quantitative growth of customers regardless of their profitability for the bank. Progress means allocation of funds if well used can bring time savings which basically means saving money, even if apparently banking products and services become more expensive. You can not at the same time performance and reduce costs. A normal evolution is basically increased spending at a rate lower than revenue growth. This means more work and better work organization, namely efficient management and quality managers, able to adapt quickly to new conditions constantly change depending on market requirements.
Refferences
Berea, A.O. Popescu, P., (2008), Trade policy approach in bank management, Ed.Bren , Bucharest. Ciotei C., (2002), Organizarea si conducerea activitatii economico-financiare a intreprinderilor mici si mijlocii, Ed. Expert, Bucuresti. Ciutacu, C., Chivu, L., (2007), Quality of work and employment in Romȃnia, European Foundation for the Improvement of Living and Working Conditions. Cohen, I.K. (2005), Focus and Financial Management, Imperial College Press, London. Heffernau, S., (2005), Modern Banking, John Wiley & Sons, Ltd., Chichester. Philippe d´Arvisenet, (2008), Finance Internationale, Dunod,Paris. Popescu, A. A., Popescu, P., (2010), Finance and Credit, Ed. Bren, Bucharest.