Answered: how the person deals with issues or…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Related questions

Concept explainers

Question

how the person deals with issues or challenges that he/she faced in the workplace??

he work in bank.

Expert Solution

Step 1

There are numerous challenges in the banking industry/bank workplace. A manager can deal with these challenges through-

Continuous innovation- Business requires rich client relationships, insights, continuous innovation, and so on. Benchmarking effective practices provide valuable insights, but it rarely leads to innovation. Insights are discovered through customer interactions and organizational analysis, which are important for innovation. The banking industry should improve the customer experience and leverages the latest business technologies to innovate faster. Managers of the bank can enable cloud application systems to improve the agility and scalability of the workplace.
Security breaches- It is one of the major challenges of the banking industry. It is a major concern for bank and credit union customers. They should invest in the latest technology-driven security measures to keep sensitive customer information, such as authentication, end-to-end encryption, address verification service, etc.

Step by step

Solved in 2 steps

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.

Similar questions