Service management

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Running Head: SERVICE MANAGEMENT EXCELLENCE 1

IDENTIFYING SERVICE MANAGEMENT EXCELLENCE

Name of the Student

Institution

Course

SERVICE MANAGEMENT EXCELLENCE 2

Executive summary

Wells Fargo is a financial institution offering various services to its customers. Its vision-

based strategy of providing the consumer with the products they want, when they want them in

order to help them gain financial success is called cross-selling. From the company’s vision to its

objectives, the customer come first and customer service and satisfaction remain high on the list

of priorities for the company. The firm also uses some performance metrics to gauge the success

levels of its activities, using various key performance indicators. These metrics indicate to the

company whether it is on track to achieve its objectives. Wells and Fargo refer to its employees

as “Team members” because according to the management, employees are to be treasured and

are not as expenses in need of being managed (Bidgood, Boudewyn, & Fasbinder, 2005). This

highlights the value placed on managing people by the company. The company experienced a

scandal where its employees opened many accounts using customer details without their consent.

This happened due to unreasonable targets set. The company should set measurable objectives

that will not push its employees to such extreme lengths.

Introduction

This report is aimed at identifying service management excellence at Wells Fargo

Company, by looking into the firm’s relationship marketing, performance metric, and human

resource strategies. In all these, emphasis will be placed on the best practices for management

excellence. The report also aims at giving recommendations based on the research done. The

recommendations will look into improving the quality of service provided by Wells Fargo.

Wells Fargo

Wells Fargo is an unusual kind of bank. It is an American company dealing in

multinational financial services. Its headquarters are in San Francisco, California. It has offices

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Running Head: SERVICE MANAGEMENT EXCELLENCE IDENTIFYING SERVICE MANAGEMENT EXCELLENCE Name of the Student Institution Course 1 SERVICE MANAGEMENT EXCELLENCE 2 Executive summary Wells Fargo is a financial institution offering various services to its customers. Its visionbased strategy of providing the consumer with the products they want, when they want them in order to help them gain financial success is called cross-selling. From the company’s vision to its objectives, the customer come first and customer service and satisfaction remain high on the list of priorities for the company. The firm also uses some performance metrics to gauge the success levels of its activities, using various key performance indicators. These metrics indicate to the company whether it is on track to achieve its objectives. Wells and Fargo refer to its employees as “Team members” because according to the management, employees are to be treasured and are not as expenses in need of being managed (Bidgood, Boudewyn, & Fasbinder, 2005). This highlights the value placed on managing people by the company. The company experienced a scandal where its employees opened many accounts using customer details without their consent. This happened due to unreasonable targets set. The company should set measurable objectives that will not push its employees to such extreme lengths. Introduction This report is aimed at identifying service management excellence at Wells Fargo Company, by looking into the ...
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