MNO3701
ASSIGNMENT 1 SEMESTER 1 2025
UNIQUE NO.
DUE DATE: 2025
, Five Basic Performance Objectives in Production/Operations Management at
ABSA Bank
As the Production and Operations Manager at ABSA Bank, mentoring a new intern
involves explaining key performance objectives that ensure efficient and effective
banking operations. The five fundamental performance objectives in
production/operations management are quality, speed, dependability, flexibility, and
cost. Here’s a detailed explanation with practical examples relevant to ABSA Bank.
1. Quality
Quality in banking refers to delivering accurate, reliable, and customer-friendly financial
services. It ensures that customers receive error-free transactions, secure banking
services, and professional customer service.
🔹 Example: ABSA Bank ensures high-quality service by implementing secure online
banking systems with strong encryption to protect customer data. Additionally, frontline
staff are trained to minimize errors in processing loans, account openings, and fund
transfers.
2. Speed
Speed focuses on how quickly banking services are delivered to customers. It plays a
crucial role in customer satisfaction and competitiveness in the financial sector.
🔹 Example: ABSA Bank improves speed by offering instant mobile banking
transactions through the ABSA banking app. Customers can transfer money, pay bills,
and check balances in real-time without visiting a branch.
3. Dependability
ASSIGNMENT 1 SEMESTER 1 2025
UNIQUE NO.
DUE DATE: 2025
, Five Basic Performance Objectives in Production/Operations Management at
ABSA Bank
As the Production and Operations Manager at ABSA Bank, mentoring a new intern
involves explaining key performance objectives that ensure efficient and effective
banking operations. The five fundamental performance objectives in
production/operations management are quality, speed, dependability, flexibility, and
cost. Here’s a detailed explanation with practical examples relevant to ABSA Bank.
1. Quality
Quality in banking refers to delivering accurate, reliable, and customer-friendly financial
services. It ensures that customers receive error-free transactions, secure banking
services, and professional customer service.
🔹 Example: ABSA Bank ensures high-quality service by implementing secure online
banking systems with strong encryption to protect customer data. Additionally, frontline
staff are trained to minimize errors in processing loans, account openings, and fund
transfers.
2. Speed
Speed focuses on how quickly banking services are delivered to customers. It plays a
crucial role in customer satisfaction and competitiveness in the financial sector.
🔹 Example: ABSA Bank improves speed by offering instant mobile banking
transactions through the ABSA banking app. Customers can transfer money, pay bills,
and check balances in real-time without visiting a branch.
3. Dependability
