IMPACT OF TOTAL QUALITY MANAGEMENT ON CUSTOMERS’ SATISFACTION AND BANK PROFITABILITY
A research cannot be carried out if there is no missing link or lacunars or it there is no question unanswered. Total quality management has been seriously dealt with in this research work to know it impact on customer satisfaction and bank profitability to some unanswered questions as to give answer.
Chapter 1 familiarized us with the meaning of total quality management, the purpose of the study; it even states the research hypothesis, limitation and constraints, significance of the study, it even made us to know the historical background of the case study (First Bank Plc. Sango Ibadan.)Etc. We can see in chapter 2 the series of literature we reviewed to know what the past authors have said about total quality management. The theories under total quality management were also reviewed. Chapter 3 and chapter 4 dealt with research methodology and data presentation and analysis respectively. Questionnaire was used to collect the primary data and d researcher employed the use of table and simple percentage for the use of presentation and analysis. The hypothesis stated in chapter 1 was also put to test.
It was believed that a nation’s economy is at its financial system. The banking industry performs very important function in the economic development of any nation. The primary and the most important function of the banking sector is the financial intermediation functions in which banks act as the financial intermediaries, mobilizing funds from the surplus units and making them available for the use of the deficit units of the economy.
In carrying out their various function in the economy, bank have responsibilities towards their customers’ shareholders, the Government and the society. The banking industry had gone through a number of changes over the years and the most prominent of these changes is the ending of the “arm chair” banking system.In their words, the industry continues having the impact of competitions, which brought about the need to put in place more serious strategies and effort in the delivery of banking products and services. Other sources of changes include, recapitalization of bank, liberalization of the economy signaling the re-entry of global banks, advancement of technology and the rapidly increasing sophistication and the demand of today’s bank customers. Today’s banks customers are more sophisticated in terms of their taste and demand for products and services. The customers are becoming global in terms of their access to information world-wide as a result of improved technology and the increasing globalization of the economy.