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Towards Sustainability: Effective Operations Strategies, Quality Management and Operational Excellence in Banking

Author

Listed:
  • Vesna Tornjanski

    (University of Belgrade, Serbia)

  • Sanja Marinkovic

    (University of Belgrade, Serbia)

  • Željka Jancic

    (Eurobank a.d. Belgrade, Serbia)

Abstract

This paper sets out to extend and deepen the understanding the ways toward economic sustainability through efficient and effective growth operations strategies, quality management and operational excellence in banking. In this study we define new quality management practices based on developed conceptual architecture of digital platform for operations function in banking. Additionally, we employ decision making framework consisted of two parts: introduction of new operations services using Total Unduplicated Reach and Frequency (TURF) statistical analysis and segregation of core from actual and augmented operations services utilizing Analytic Network Process (ANP) method based on BOCR model. Proposed quality management practices were used for the first time in this paper for particular purposes and have the high potential to impact the excellence in banking business. The study can contribute to operations management, quality management, innovation management, IT management, business process management and decision making in service organizations.

Suggested Citation

  • Vesna Tornjanski & Sanja Marinkovic & Željka Jancic, 2017. "Towards Sustainability: Effective Operations Strategies, Quality Management and Operational Excellence in Banking," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 19(44), pages 1-79, February.
    • Handle: RePEc:aes:amfeco:v:s10:y:2017:i:18:p:79
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    File URL: http://www.amfiteatrueconomic.ro/temp/Article_2595.pdf
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    References listed on IDEAS

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    1. da Silva Gonçalves Zangiski, Marlene Aparecida & Pinheiro de Lima, Edson & Gouvea da Costa, Sergio E., 2013. "Organizational competence building and development: Contributions to operations management," International Journal of Production Economics, Elsevier, vol. 144(1), pages 76-89.
    2. Jiazhen Huo & Zhisheng Hong, 2013. "Service Science in China," Springer Books, Springer, edition 127, number 978-3-642-34497-8, June.
    3. Christos K. Staikouras & Anastasia Koutsomanoli‐Fillipaki, 2006. "Competition and Concentration in the New European Banking Landscape," European Financial Management, European Financial Management Association, vol. 12(3), pages 443-482, June.
    4. Zhao, Xiande & Lee, Tien-sheng, 2009. "Developments and emerging research opportunities in operations strategy and supply chain management," International Journal of Production Economics, Elsevier, vol. 120(1), pages 1-4, July.
    5. Ben Naylor, J. & Naim, Mohamed M & Berry, Danny, 1999. "Leagility: Integrating the lean and agile manufacturing paradigms in the total supply chain," International Journal of Production Economics, Elsevier, vol. 62(1-2), pages 107-118, May.
    6. Daniel Fasnacht, 2018. "Open Innovation in the Financial Services," Management for Professionals, in: Open Innovation Ecosystems, edition 2, chapter 4, pages 97-130, Springer.
    7. Daniel Serra, 2010. "Implementing TURF analysis through binary linear programming," Economics Working Papers 1197, Department of Economics and Business, Universitat Pompeu Fabra, revised Nov 2012.
    8. Gunasekaran, Angappa & Ngai, Eric W.T., 2012. "The future of operations management: An outlook and analysis," International Journal of Production Economics, Elsevier, vol. 135(2), pages 687-701.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Mikhail Kulapov & Yuriy Odegov & Vera Sidorova & Nikolay Sidorov & Elena Zotova, 2019. "Corporate Culture of Organization - Typical and Russian model with the Context of Its Risks and Implications," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 15(1), pages 215-226.
    2. Mariana Bunea & Vasile Dinu, 2019. "The BASEL III impact on the Romanian Banks’s Solvency," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 15(1), pages 189-199.

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    More about this item

    Keywords

    Economic sustainability; operations strategies; quality management; operational excellence; banking industry; TURF statistical analysis; ANP-BOCR model;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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