Operations Strategy and Management

Operations are to take inputs from resources and transform them to outputs, including products and services, and then supply them to customers. All organizations have operations that produce products, services or some mixture of both. And the total operations are made up of individual processes. Processes are component parts of operations and smaller version than operations. Its function is also to arrange resources that transform inputs to output. (Slack, 2009; Greasley, 2009)

This essay will discuss about ‘counter service operation’ in Lloyds TSB, which deals with the daily transactions in bank counter. Lloyds TSB is one of the biggest retail banks in the UK with a great number of branches and cash points across England and Wales. It was found in 1995 by the merge of Lloyds Bank with the TSB Group. After the acquisition with HBOS in 2008, Lloyds TSB group is renamed to Lloyds Banking Group in 2009. It makes Lloyds TSB have domination in the banking market with 30% of market share.

In particular, this essay will analyze the ‘counter service operation’ with its processes in Lloyds TSB Banking Groups. First, we determine its inputs, outputs. Then we analyze the transformation, process mapping and control systems. Finally, potential improvement practices will be suggested.

Banking services has many complex operations, namely ‘counter service operation’, ‘managing accounts operation’, ‘advising service operation’, ‘managing human resources operation’ and so on. This essay will analyze ‘counter service operation’ in Lloyds TSB. It is also called as ‘doing transactions operation’ and typed in exchange operation. This operation deals with daily transactions from customers’ orders on counter. The main transforming resources inputs of this service are tellers, computers, information systems and banking network systems. Its transformation is to transfer, collect or deposit money, to pay bills or direct debit periodically and process cheques according...