Professional Documents
Culture Documents
ON
JYSKE BANK
SUBMITTED BY -
SIDHANT ANAND
YOGESH SINGLA
VENKAT BHANU PRAKASH JASTI
INTRODUCTION TO THE CASE
• The case talks about JYSKE BANK , which is the third largest bank in
Denmark and has been formed through the merger of 4 Danish
Banks, having their operations in Jutland .
• The case talks about JYSKE BANK being the market leader in customer
satisfaction through their model called JYSKE FORSKELLE, and the
practices they adopted to satisfy the customer to their best.
ABOUT JYSKE BANK
• The headquarters are located in Silkeborg, and has branches in
Denmark, France and Germany.
THREATS
1. High liquidity issues may arise in future , as they spend a lot of
money on infrastructural development.
2. E- commerce can be one of the biggest threats as it is changing the
focus of the customers from branch banking to online banking.
CASE QUESTIONS AND
ANSWERS
Q1. What is Jyske Bank’s new positioning or competitive
differentiation strategy?
TANGIBLE CHANGES
CHANGES IN ACCOUNTS CHANGES IN BRANCH
TEAMS DESIGN 3.Round Tables –
One employee was 1. Small teams of Portray's Equality.
dedicated to one employees for providing 4.Visible Screens –
customer. This made the customer solution. Portray openness of
customer feel that he is 2. Cafe’s – Provides information with the
been given due homely environment. customer.
importance.
TANGIBLE CHANGES
DECENTRALISATION OF LOAN
PROCESS
After the change in the
TRAINING Initially, if a customer was to process the managers were
apply for a loan, the entire give credit training and were
The banks started providing
procedure used to take a also give the authority to
employees with trainings on
long time as the branch take decisions for loans
team building and customer
manager used to write a approval at the branch level
service
formal application and itself.
forward the same to the
regional level for approval.
Q3.Analyse Jyske Bank’s success using the Service Quality
Gaps Model found in Chapter 2. What are Jyske Bank’s
strategies for closing the 5 gaps in the model?
EXPECTED
CUSTOMER GAP: SERVICES
PERCEIVED
SERVICES
The customer gap was very less as the bank was able to provide is
customers with their superior services.
They had only targeted the premium customer’s to whom the price
did not matter.
As a result of which they were able to provide the customers high
quality services and were able to achieve minimum customer gap and
highly satisfied customers.
PROVIDER GAP:
• GAP 1: Listening Gap
The listening gap was very less, as with the introduction of the JYSKE
FORKSELLE, the bank had come out with IT tool to first figure out the
customer’s problem and expectations.
They had dedicated a team of 4 employees per customer to get a better
understanding of customer’s problems.
• GAP 2: Service Design and Standard Gap
The bank was successfully able to close this gap.
The bank provided its customer with the best in class service in terms of
the customer solutions and also provided customers with the best
infrastructure facilities to make them feel at home.
• GAP 3: The Service Performance gap
The bank was successfully able to retain its employees and provide them
with adequate trainings.
Bank was not only the leader in customer satisfaction but was also a leader
in employee satisfaction as well. The employees were provided with good
incentives and were kept happy so that they could work.
• GAP 4: Communication Gap:
The communication gap was very low.
The bank provided the customer’s with all the possible information that
the customer required and also provided the customer with all the
solutions.
Q4.In your opinion can Jyske Bank sustain its growth and
success? Would you invest in Jyske Bank?
• If they continues work with its Jyske Forskelle then it won’t be able to
sustain its growth and success
• According to this their market share in market won’t rise resulting in
no increase in profits thus not able to expand and will result to
decline in growth as Jyske Bank resulting had to close its three
branches
• London Branch (2008)
• Warsaw Branch (2007)
• Fuengirola Branch (2007)
• But if the Jyske bank makes changes in its strategies and focus on
more customers rather than selective customers then it can gain
more market share, more revenues.
• Previously they were also charging very high to customers so they
have to reduce that as in today’s scenario customer don’t prefer to
pay when competitor’s charges are low.
• No, I would not like to invest in Jyske Bank as Jyske Bank Share value
was 192.50 in2004 reached to highest 476 in 2007 but now it is
declining constantly reaching to 285 which is not a good symbol for a
company to invest in.