Answer each of the following questions with a substantive response. A substantive respon

Answer each of the following questions with a substantive response. A substantive response is one that: 1) is a minimum of 125 words, 2) is a thoughtful and thorough response to all aspects of the question, 3) accurately applies information from the course material, and 4) utilizes appropriate grammar. You will be graded based upon length and grammar, your insight into the issue addressed, and demonstration of knowledge of the course material as found in the book and elsewhere. Please check the

formatting before submitting your response.

Think about the last dissatisfying or discouraging experience you had as a member of a group or team. Perhaps the group did not accomplish its goals, perhaps group members could not agree about anything, or perhaps there was too much social loafing. With that experience in mind, answer the following questions:

a.Describe the group: What type of group was this? How large was it? What was the task/purpose of the group?

b.What were the challenges that made the group experience dissatisfying? Use specific concepts and examples from the course (e.g. social loafing, conflict, personality differences, etc.)

c.What could have been done differently to improve the group’s effectiveness?

Expert Answer


a) The group consists of 5 members, a manager, two officers, one clerk and a part time sub staff. The group is termed as a secondary group, which is usually impersonal and short-term. The members of the group have similar interests, become pretty informal and get to know each other well. The main purpose of the group is regarding the task and the targets given in terms of opening accounting, raising the advances, recovery of the NPA accounts, lending loans to people with good credit worthiness, apart for the routine banking services.

b) Challanges which made the group experience dissatisfying:

Increasing competition: Retail banking is very competitve, because credit unions, community banks, national banks, FInTechs are all competing for the similar customers. Today’s banking is defined with technology, advertising budgets and banking regulations as much of the banking is done online. Thus targets customers are no longer created by geography.

Understanding the lifecycle of the customer: Driving better experience form the customers, lowering the churn and increasing loyalty is a challenge for retail banking. For competing with the new market emtrants and technology, the reatil bankers should use the customer insights for driving the strategic planning and completing the given targets.

Innovation and cost reduction: Banks are speding about 25% in product innovation, whereas teh traditional retail banking has been held back due to strong status quo and legacy systems.

Improving the experience of the customers: The research has shown, that retail banks have reduced the customer lioyalty by 30%. Retail bankers should focus on understanding their customers well.

c) Improving group’s effectiveness:

The digitization in the reatil banking has transformed the ecpectations of the customers in terms of the channels for conducting the banking transactions.

Retail banks should use tele-presence video for building up the collaborations with the customers. This is actually much more than the point-to-point video chat solutions.

The retail banks should use personalized analytics for helping the business derive valuable insights from the generated data.

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