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Lessons Learnt From Citibank Essay

1178 words - 5 pages

Lessons learnt from CitiBank may be applied as listed below:Management support a prerequisiteWe can deduce that, Citibank's reengineering of its call centre process was a runaway success. After an 8 month research period weighing up the benefits of Sydney against several other cities in the Asia/Pacific region, The fact that Citicorp committed a substantial seven figure investment in the Sydney call centre proves that senior management was backing the reengineering effort.Well defined project structure with continuous improvementIt can be critically said that Citibank have come a long way in a short time. The commitment to effective change remains the same as the arsenal of tools and approaches expands. If Citibank repeats its BPR successes then they will achieve their goals and more in the future. By constantly identifying processed to reengineer, Citibank is America's largest bank in total assets, enjoys the largest global presence of any bank, with offices in more than 93 countries. We can say that Citibank's project structure is well defined with continuous improvement as the final agenda to provide performance measurement, fine tune new processes and to adopt Total Quality Management.Focus on business processesWe can infer that the secret of Citibank's motivation for reengineering is simply not sticking with the old standard of 'Here's what we provide," but rather "to continue to look at the big process of what customers want." To achieve this, Citibank does not take for granted their business processes but studies them carefully.Strategy for reducing barricades to BPRBased on our analysis, getting people to accept the idea that their work lives and their jobs will undergo radical change, which may sound merciless, is not a war won in a single battle. We deduce that business process reengineering is more of an educational and communication campaign that runs from the reengineering's initiation to its wrapping up. It is more of a selling job that Citibank did quite well, that begins with the realisation that things cannot remain the way they are and that reengineering is required. Most importantly BPR does not wind up until after the redesigned processed have been certified to run up to expectation to produce dramatic improvements.Strategy for the people barrierBased our assessment, one thing laudable about Citibank is its recognition of an individual's success. BPR results in innovative business transformation changes in the way work is performed as well as the job content and skills of the individuals are natural outcomes of the redesign effort. Citibank recognises the position of the individual within the organisation and manages it during the implementation of BPR. We can deduce that people are the most important resource in a company; they are a company's competitive advantage; they make the difference between Citibank and their closest competitor. By using this strategy, Citibank reduces the people barrier inherent in reengineering.The...

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