MNO3701
ASSIGNMENT 2 SEMESTER 1 2025
UNIQUE NO.
DUE DATE: APRIL 2025
, MNO3701 Assignment 1 Semester 1 2025
1. Quality
Performance Area: Quality refers to the ability of a company to consistently
produce services or products that meet or exceed customer expectations. In
ABSA Bank, this would pertain to the quality of customer services, banking
products, and digital offerings.
Significance in Operations Management: Ensuring quality in banking services
is vital as it builds customer trust and loyalty, reduces complaints, and enhances
brand reputation. Poor quality can lead to customer dissatisfaction, negative
reviews, and even loss of business.
Example: At ABSA Bank, the bank’s mobile app offers secure and seamless
transactions. Regular updates are implemented to fix bugs and introduce new
features to improve user experience. For example, the app recently introduced a
feature that automatically categorizes spending, helping customers track their
finances more easily. This commitment to quality ensures that customers have a
reliable and user-friendly banking experience, thereby fostering trust in the bank's
services.
2. Speed
Performance Area: Speed involves delivering services or products in the
shortest time possible while maintaining quality. In a bank, speed can relate to
transaction times, the responsiveness of customer service, or the time taken to
process loans or account opening requests.
Significance in Operations Management: Speed is important as customers
value quick service, especially in banking, where time-sensitive transactions are
ASSIGNMENT 2 SEMESTER 1 2025
UNIQUE NO.
DUE DATE: APRIL 2025
, MNO3701 Assignment 1 Semester 1 2025
1. Quality
Performance Area: Quality refers to the ability of a company to consistently
produce services or products that meet or exceed customer expectations. In
ABSA Bank, this would pertain to the quality of customer services, banking
products, and digital offerings.
Significance in Operations Management: Ensuring quality in banking services
is vital as it builds customer trust and loyalty, reduces complaints, and enhances
brand reputation. Poor quality can lead to customer dissatisfaction, negative
reviews, and even loss of business.
Example: At ABSA Bank, the bank’s mobile app offers secure and seamless
transactions. Regular updates are implemented to fix bugs and introduce new
features to improve user experience. For example, the app recently introduced a
feature that automatically categorizes spending, helping customers track their
finances more easily. This commitment to quality ensures that customers have a
reliable and user-friendly banking experience, thereby fostering trust in the bank's
services.
2. Speed
Performance Area: Speed involves delivering services or products in the
shortest time possible while maintaining quality. In a bank, speed can relate to
transaction times, the responsiveness of customer service, or the time taken to
process loans or account opening requests.
Significance in Operations Management: Speed is important as customers
value quick service, especially in banking, where time-sensitive transactions are
