CUSTOMER COMPLAINT/ FEEDBACK HANDLING FOR GHANA COMMERCIAL BANK
After undertaking a marketing audit for GCB, there were some threats and weaknesses discovered which, if not tackled can affect the company negatively.
GCB's customer relationship after service is very poor and this is affecting their customers coming back to do business with them
Another issue is the poor management and handling of customer complaints/feedback from customers and prospective customers.
There is also the issue of competitors investing so much into customer service and after service relationships so as to win more customers to their side. This is because all banks are now doing the same thing but customers are looking out for much higher satisfactory customer service.
With these weaknesses and threats, it will be very prudent to incorporate customer feedback/complaint management system for GCB so as to understand customers through their feedback.
RESOURCE REQUIREMENTS FOR MARKETING RESEARCHRESEARCH
Internal Resources
Looking at the criticality and importance of this research, it will be best GCB to outsource the research so as not to incur much cost in training and/or employment of new workers. The following are some internal resources that GCB will need to provide.
Man
Although the research study will be outsourced, there will be three (3) delegates from GCB to be part of the research agency so as to bring about coordination between the agency and GCB. There will also be the need to employ more men to handle that project.
Machinery
During the research, GCB will not nedd to provide and equipments for undertaking the research. But they will need to provide an office and equipments for smooth management of the project after the research. These include computers, office stationary and other needed materials.
Money
GCB is an organization with a very good financial base, and therefore, provision for research work and the management of the project will not be that difficult. If there is no budget allocated for the project, they will therefore have to provide some budget for the project.
Management
Management of GCB will also have to re-adjust their structures to inculcate the project management. These will include, changes in information flow, reporting systems and other management chains. Management will also have to give their full support to both the research and the project.
Data
Internal data will be needed for the research project management. Information like customers' database, market analysis, market share and other needed information.
EXTERNAL RESOURCES
Since the research work will be outsourced, there is the need for a research agency to undertake the research.
Also, GCB will need information like competitors' strategies, government information and other research findings of a similar research, which is the secondary information.
Cost
GCB would need to provide or fund the research, and since it will be outsourced, GCB needs to provide an amount which will be used to budget for the research. And after the research, GCB must also provide budget for implementing the project and these include training of existing members or employing more workers for handling that project. There will also be the need to provide equipments, office and petty cash for the smooth running of the business.
Benefit
To help GCB incorporate feedback/complaints management of customers in their operations for effective performance.
In incorporating feedback/complaints management, GCB will be able to identify their shortfalls and needs of customers so as to satisfy and delight their customers through the services they provide.
The customers, on the other hand, will be very pleased and satisfied, since at the long run, their needs will be met by the organization through the improvement of its entire working department.
Implications
Increase in budget
Changes in organizational and management structure
The need to purchase new equipments for project
Challenges
Lack of management support for the project
Fewer funds will be allocated to the project since it was not initially part of the budget for the year
CORPORATE PROFILE OF GCB
Ghana Commercial Bank Ltd. started in 1953 as the Bank of the Gold Coast to provide banking services to the emerging nation for socio-economic development. The Bank was to provide special attention to Ghanaian traders, business people and farmers who could not elicit support from the expatriate banks. Since then GCB branches have been opened across the length and breadth of the nation tapping the potential of the 10 regions that make Ghana. The Bank had been wholly government owned until 1996 when under the economic recovery programme part of the government ownership was divested. Today government ownership stands at 21.36% while institutional and individual holdings add up to 78.64%. From the one branch of the 1950s, GCB now has over 150 branches and 11 agencies throughout the country.
GCB abounds in high quality human resource, which stands at 2,101 as at the end of 2009. This is remarkable when one considers that the Bank started with a staff of 27. Currently there are professionals of various disciplines who work in tandem to achieve the objectives of the Bank.
The growth of the Bank has been synonymous with its customer base. During the first five years of the Bank's operations, our customers were mainly small Ghanaian traders (now termed SMEs) and other nationals who were expected to maintain credit balance accounts because the Bank was then not adequately capitalized. From the small trader as customer, GCB now has a customer profile that ranges from salaried workers through small and medium scale entrepreneurs to large trading concerns, quasi-governmental institutions and corporate customers.
GCB provides a wide range of products and services for the benefit. of its customers. From the traditional products of the Current/Savings Accounts, GCB now offers specialized products and services including:
ACCOUNT STRUCTURES
CURRENT ACCOUNTS
CALL ACCOUNTS
SAVINGS ACCOUNTS
MONEY TRANSMISSION
SWIFT TRANSFER
TELEGRAPHIC TRANSFER
DRAFTS
CEDI TRAVELLERS CHEQUES
FINWARE NETWORKING
CASH MANAGEMENT
PERSONAL CEDI LOANS
CORPORATE CEDI OVERDRAFTS
CORPORATE CEDI LOANS
CORPORATE FOREX OVERDRAFTS
CORPORATE FOREX LOANS
SMALL BUSINESS FINANCE SCHEME
BULK CASH COLLECTION
ELECTRONIC BANKING
TREASURY SERVICES
DEPOSIT ACCOUNTS
FOREIGN EXCHANGE DEALING
MONEY MARKET OPERATIONS
INTERNATIONAL SERVICES
FOREIGN ACCOUNTS
FOREIGN EXCHANGE ACCOUNTS
FOREIGN DRAFTS
FAST INTERNATIONAL MONEY TRANSFER
TRADE SERVICES
LETTERS OF CREDIT
DOCUMENTARY COLLECTION
EXPORT FINANCE
IMPORT FINANCE
FINANCE
In addition, GCB has taken advantage of an enhanced information technology system, to introduce Internet Banking (Commernet Plus), Royal Banking, Smart Pay (Fee Payments), Kudi Nkosuo, GCB Inland Express Money Transfer, International Money Remittance Payments, GCB Kidistar Account and MasterCard. All these have been done to increase profits and enhance shareholder value.
MISSION
To be the established leader in banking, satisfying the expectations of customers and shareholders, providing a full range of cost efficient and high quality services through the optimization of information technology and efficient branch network.
For the achievement of this mission, the Bank is committed to:
The provision of first class customer service.
Focusing on our core business/competencies-commercial banking.
Constant improvements in the use of information technology.
Ensuring that staff are well motivated and have a conducive work environment.
Recruiting and retaining the best human resource to carry out the Bank's mandate.
Applying best practices in internal policies, procedures, processes and service delivery.
Constant improvement in shareholder value.
GCB has a twelve-member board
Mr. Kojo Thompson (Board Chairman)
Mr. P. Kojo Thompson
Mr. Thompson retired from SSB Bank in 2003 after fifteen (15) years at the bank's helm of affairs. During his tenure of office as Chief Executive he had anchored the management team which restructured the then Social Security Bank from its distressed state in the 1980's through its turnaround into a viable attractive institution. This enabled the bank to be subsequently listed on the stock exchange and privatized to a majority foreign-owned entity in the late 1990's. Along the way he successfully accomplished the only merger of banks ever done in Ghana.
He has an academic background in Economics as well as Business Administration, with studies in Ghana, Japan and Britain. A firm believer in training his company's human resources, he attended annual seminars and workshops in many countries during his active days in executive management.
Mr. Thompson has served on the Boards of many companies in Ghana over his working life.
Mr. Simon Dornoo (Managing Director)
Mr. Simon Dornoo was appointed Managing Director of Ghana Commercial Bank Ltd. (GCB) effective March 04, 2010. He joined GCB from Barclays Bank of Ghana Ltd. where he worked in various Senior Management positions from January 1999 to March 2010. He worked locally with Barclays Bank of Ghana as Finance Director and Country Tresurer as well as with Barclays PLC, U.K. being the first African to be appointed as Finance Director for Barclays Africa and the Indian Ocean with oversight responsibility for ten countries.
Simon began his carrier with KPMG in 1985 where he trained and later worked as an Audit Senior until 1990. As one of the pioneers of CAL Bank in 1990 he was the first Financial Controller and he subsequently held other senior level positions in the Bank until December 1998. Simon has served on various Boards, mainly in the financial services sector.
He is a chartered accountant by profession. He is a member of the Institute of Chartered Accountants, Ghana and has an MBA degree from Manchester Business School, United Kingdom.
Mr. Fiifi Kwetey (Non-Executive Director)
Mr. Kwetey has an Economics background and worked for a number of years in the investment banking industry as a Financial Analyst, Funds Manager and a Stockbroker. He also lectured capital market courses on the Ghana Stock Exchange for a number of years.
He is currently the Deputy Minister of Finance and Economic Planning. As part of his responsibilities, Hon. Kwetey has direct supervisory responsibility over the following: Economic Planning, Financial Services sector and Oil and Gas issues.
He is also in charge of the Public Procurement Authority, Securities Exchange Communication (SEC), Ghana Stock Exchange, Ghana Statistical Service, Cocoa Sector, Customs Excise and Preventive Service and the Department of National Lotteries.
He has a Bachelor of Arts Degree in Economics and Psychology from the University of Ghana, Legon. He also has a Diplome Superieur DU Francais Des Affairs from the Chamber of Commerce & Industry of Paris.
Mr. Kwetey at various times worked as a Financial Analyst and Stockbroker at the Strategic African Securities and Investment Advisor and Funds Manager at the CDH Financial Holdings Ltd. from 1998 to 2002.
Mr. Lovelace Prempeh (Non-Executive Director)
Mr. Prempeh is a Chartered Accountant by profession and a fellow of the Institute of Chartered Accountants in England and Wales. He is also a member of the Institute of Chartered Accountants, Ghana. He holds an honours degree in Economics from the Lancaster University, in England.
He has a rich working experience in finance and business management acquired over the years from the United Kingdom and Ghana. He has worked with reputable companies like SCOA, TOR, PriceWaterhouseCoopers and KPMG.
He is currently a Corporate and Financial Consultant and serves on the Boards of Densu Industries Ltd., SDC Finance and Leasing Company Ltd., TV3 Network Ltd. and Union Management Services Ltd.
Mr. Samuel Amankwah (Deputy Managing Director - Finance)
Mr Samuel Amankwah joined the Bank in 2000 and was appointed Deputy Managing Director responsible for Finance in 2008. Mr Samuel Amankwah holds a degree from De-Montfort University, Leicester U.K. (MSc. Accounting & Finance).
He is a Fellow of Chartered Certified Accountants (FCCA) - London, and a Member of Institute of Chartered Accountants (Ghana). Mr Amankwah has about 26 years professional experience in both Ghana and London in the areas of Accounting and Finance.
Prior to joining the Bank, he worked at Unilever (UAC) Ghana Limited as Auditor from 1982 - 1985, then from 1985 -1987 he was on Secondment to Guinness Ghana Limited from UAC Ghana Limited as Production Accounts Manager, 1989 - 1993, worked with NCP Metropolitan Police Car Pound (UK) as a cashier, 1996 - 1998 worked with Adomako-Basoah & Co, Norbury (UK) as an Accountant, and from 1998 - 2000, worked with JSA Accountancy Services, Watford (UK) as an Accountant.
Mr Amankwah joined GCB in March 2000 as the Deputy Head, Accounts Division, and from September 2007 to August 2008 was the General Manager, Treasury Division. Mr Amankwah is currently serving as Acting Board Chairman of Activity Venture Finance Co. Ltd, which is a joint Venture between GCB, ADB, and Venture Capital Trust Fund.
He also represents GCB on the CDH Financial Holdings Ltd, and is the Director of Finance of Presbyterian Church of Ghana, Kaneshie and also a member of the Audit and Accounts Committee of the Church.
Dr. Fritz Gokel (Non-Executive Director)
Dr. Gockel is a Senior Lecturer in the Department of Economics, University Of Ghana, Legon, Ghana and holds a PhD from the University of Manchester, United Kingdom. He instructs numerous courses at the postgraduate and undergraduate levels including Monetary Theory and Practice, and Economic Policy Analysis, Design and Evaluation. He also supervises doctoral and master's level dissertations, and is an external examiner at University of Cape Coast. He is a Visiting Lecturer in the MPhil Programme for Anglophone Africa under the Auspices of the African Economic Research Consortium (AERC), Nairobi and a member of the PhD Academic Committee of the AERC. Dr. Gockel has participated in instructional programmes of the Ghana Stock Exchange, and has presented papers at several national and international conferences. He has several publications to his credit in both local and international journals.
Dr. Gockel has considerable experience in economic policy analysis and economic reform measures. He has been a consultant to many local and international institutions including the World Bank, USAID, ILO, UNDP, UNECA, Friedrich Ebert Foundation, National Development Planning Commission, Ministry of Finance and Economic Planning, and West African Monetary Institute.
Mr. Samuel Sarpong (Deputy Managing Director - Operations)
Mr. Samuel Sarpong joined GCB in March, 2008 Mr. Samuel Sarpong holds degrees from Kwame Nkrumah University of Science & Technology (B.Sc. Agric); University of Guelph, Ontario, Canada (M.Sc. Agric.); and Wilfrid Laurier University, Ontario, Canada (MBA).
He has also completed many professional courses including the Canadian Securities (Stock Exchange) course.
Mr. Sarpong has worked in both private and public sectors in Ontario, Canada over the past 18 years. From 1990 to 1995, he served as Policy Adviser in the Ontario Ministry of Agriculture & Food and the Ministry of Economic Development & Trade.
In 1996, he joined Canadian Imperial Bank of Commerce (CIBC), holding progressively senior roles in Credit Risk Management including Director, Lending Products.
During his 9 years at CIBC, he worked in 3 divisions, Retail & Small Business Lending, BizSmart and CIBC Visa. In 2005, he left CIBC to join General Electric Corporation's Consumer Lending business (GE Money Canada). As Senior Manager, Mr. Sarpong served as Risk Leader for 3 business units - Credit Cards, Risk Infrastructure & Fraud and Mortgages.
Mrs. Charlotte Osei (Non- Executive Director)
Mrs. Charlotte Amah Osei
Mrs. Osei has an LLB Hons from the University Of Ghana and was admitted to the Ghana Bar in 1994. She holds a Master of Laws degree (LL.M) from Queen's University, Canada and a Masters in Business Leadership (MBL) from the University of South Africa. She has significant experience in several facets of Law with particular specialization in Corporate/Business Law, Banking, Investment and Employment Law.
In the past 15 years, she has gained a wealth of experience as General Counsel & Company Secretary for financial institutions and international corporate establishments, advising on compliance and regulatory issues, corporate financing and restructuring, negotiating transactions and human resource management issues. She consults on a variety of areas and provides support services for several Ghanaian companies, foreigner investors and international development agencies in Ghana.
Mrs. Adelaide Mary Benneh
Mrs. Adelaide Benneh was born on 19th October 1943. She had her secondary education at Aburi Girls Secondary School from 1957 to 1963 where she was appointed Senior prefect. She also obtained 'O' and 'A' level Certificates there.
She was subsequently admitted to the University of Ghana and obtained a BA(Hons) Degree in French with Spanish.
She pursued a post graduate course in Management at the University of Manchester UK and was awarded MSc Degree in Management Sciences in 1987.
She was employed at Bank of Ghana in 1968 and held a number of appointments including Director and Head of Human Resources Department and Adviser to the Governor of Bank of Ghana.
Her publications include:
'Human Resource Development at Bank of Ghana' Published by World Bank 1998.
'Human Resource Management and Women In Financial Sector' Published in an Edited Book 'Experiences In Capacity Building of Ghanaian Women 'Asempa Publisher, Christian Council of Ghana - 2001
She became the Principal of the National Banking College from 2001 - 2008. She is also the Nkosuohene of her hometown, Wirenkyiren Amanfrom in the Eastern Region.
Mrs. Benneh is married with six children.
Mr. Joshua K. Peprah
Mr. Peprah has over 30 years of experience in the Telecoms/ICT industry. He holds a Bachelor of Science Degree in Electrical and Electronics Engineering (Bsc E&EE), from The Royal Military College of Science, Shrivenham, UK and an MBA in Operations Research and Marketing, from Texas Christian University (TCU), Fort Worth, Texas, USA.
Mr. Peprah worked for Texas instruments, (TI) in Dallas Texas for some fifteen (15) years, starting as a Design Engineer with the Semiconductor Division. He held several key positions culminating in his position as Applications Engineering Manager, during which time he managed several Digital Logic Design projects at TI and was a member of the team that introduced the world famous Digital Signal Processor (DSP) chip that has become an integral part of most telecom and computing systems.
Since returning to Ghana in 1995 Mr. Peprah was involved in the establishment of the first Data Communications company that used the X.25 protocol (DATATEL), as Director for Operations and Marketing, to provide Wide Area Networking (WAN) services to several Banking, Financial and Oil Marketing companies of Ghana.
In 1998 he established Computing Networks and Systems Integration (CNSI) Limited, an Engineering Services company that provides Networking and Process Automation solutions to corporate clients in the Refinery, Power Generation and Manufacturing sectors of the Ghanaian economy. CNSI holds the local agencies for Honeywell Industrial Automation and Liquid Automation Systems (LAS) of South Africa.
Since 2002 to date, Mr. Peprah has been the Director for Regulations and Licensing (now Regulatory Administration) Division of the National Communications Authority (NCA). He has contributed immensely to the liberalization and rapid growth of the ICT/Telecoms market in Ghana, which now boasts of close to 55% penetration in total communications access lines (fixed and mobile), with several of the world class operators represented.
He also has oversight responsibility for the Frequency Management Division of the NCA.
Mr. Peprah has extensive experience through active participation in the International Telecommunications Union - Telecom sector (ITU-T) system, and currently is part of the experts' group working on the 'ITU mark' project, after guiding its successful acceptance at the World Telecommunications Standardization Assembly (WTSA-08) in October 2008 in Johannesburg, South Africa.
Mr. Peprah was born in Kumasi on 27th June, 1951 and is married with four (4) children.
His hobbies include golfing, reading, travelling and offering voluntary services to the underprivileged in the community wherever he finds himself.
He is a Past President of the Tema LIONS club.
Ms. Lauretta Vivian Lamptey
Lauretta Lamptey is an investment banker and specialist in African capital markets and corporate finance. She was Head of Corporate Finance at Cal Merchant Bank and prior to that was Head of the Capital Markets Group at Ecobank Ghana Ltd. Ms. Lamptey was also formerly Legal & Corporate Finance Advisor at Loita Capital Partners International, a pan-African investment banking group based in Johannesburg.
As a consultant she has provided legal, financial and investment advice to the Government of Ghana on transactions in the mining, natural resources and energy sectors. In South Africa she served as a transaction adviser in the setting up of the second national telecommunications operator, and as a consultant on a review of development finance institutions in South Africa undertaken by the National Treasury.
Ms. Lamptey has served on the boards of the Securities Discount Company (SDC) and Gliksten W. A. as well as being a founder member of the board of the Ghana Stock Exchange. She holds L.L.B. and B.L. degrees from the University of Ghana and the Ghana Law School respectively, and an L.L.M. in International Business Law from the London School of Economics & Political Science (LSE) of the University of London.
Mr. Elliot Gordor
Mr. Elliot Gordor is a seasoned business executive with over twenty-five years experience. He is also the Managing Director of Gelloq Company (GH) limited, a major player in Ghana's haulage and logistic industry with subsidiaries in Togo and the United States of America (USA), Concepts Export Ltd, a logistics company and a director of Conway & Sons LLC, USA and the Tema Development Corporation.
Mr. Gordor is a product of the University of Ghana and the University of Mississippi with specialization in Business Administration.
