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The head office of Countrywide Bank has announced that one of its suburban branches will be closing - HSC - SSCE Business Studies - Question 21 - 2003 - Paper 1
Question 21
The head office of Countrywide Bank has announced that one of its suburban branches will be closing. Angry local residents are protesting outside the bank. a) Ident... show full transcript
Worked Solution & Example Answer:The head office of Countrywide Bank has announced that one of its suburban branches will be closing - HSC - SSCE Business Studies - Question 21 - 2003 - Paper 1
Step 1
Identify TWO stakeholders who might be affected by the protest.
Answer
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Local Residents: They are directly affected as the closure of the branch may impact their access to banking services, leading to frustration and protest.
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Bank Staff: Employees at the branch face potential job loss or changes in their work environment due to the closure.
Step 2
Identify TWO skills of management that the branch manager would require in this situation.
Answer
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People Skills: The branch manager must effectively communicate with both protestors and staff, addressing their concerns empathetically and maintaining morale.
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Problem-Solving Skills: The manager should be able to devise solutions to mitigate the impact of the closure, such as suggesting alternative banking options or services.
Step 3
Describe the informational role of the branch manager in addressing the concerns of a stakeholder in relation to the branch closure.
Answer
The branch manager plays a crucial informational role by:
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Communicating Transparent Information: Providing stakeholders, especially local residents, with clear explanations about the reasons behind the branch closure and exploring possible alternatives.
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Updating Stakeholders Regularly: Keeping affected parties informed about any future developments or decisions regarding the bank's operations in the community, which helps maintain trust and transparency.