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Part 1: Introduction

Jyske Bank was created in 1967 through the merger of four Danish banks having their
operations in Jutland. Until the 1990s, Jyske Bank was characterized as a typical Danish
bank. Beginning in the mid-1990s, Jyske Bank embarked on a change process that led to its
no longer being characteristics. By 2003, its unique flavor of service made it a leader in
customer satisfaction among Danish banks. The bank differentiated itself on some basis
specifically Being nice, making time for the customer and caring about the customer
and his family.

Jyske bank established itself as the most customer centric bank. They always approach the
customers by asking what they do need. Their tools are developed to support solution-based
service delivery. The core values demonstrate openness and honesty, encouraging creativity,
equal respect, efficiency and persevering.

Jyske created distinction on both tangible and intangible dimension. Their tangible difference
is created by their account team, branch design and details. Intangible differences come at
training and empowering those employees closest to the customers. Employees are always
encouraged to make the decisions that may prove to serve customers in a better way.

Part 2: Environmental analysis of Jyske Bank

An organization's environment consists of macro and micro environment that have the
potential to affect the organization's strategies.

Jyskes Macro environment

The major forces in the Jyskes macro environment:

Demographic Environment: Demography is the study of human populations in

terms of size, density, location, age, gender, race, occupation, and other statistics.
Denmark has a population of about 5 million at present.

Economic Environment: Denmark has an outstanding GDP. The net income of Jyske
bank would increase considerably. Clients are willing to spend for good service.

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Technological Environment: Jyske bank uses advanced technology that enhances the
employees ability and helps to reduce task so they can hear the customers.
Political environment: The political environment includes laws, government
agencies, and pressure groups that influence and limit various organizations and
individuals in a given society. Denmark has a good political environment.

Jyskes Micro environment

The micro environment of Jyske bank:

Competitors: Sydbank, Midtbank, Nordea are the main competitors of the bank.
Customers: Jyske bank becomes successful by providing unique services to the
customer like providing individual service, outstanding branch design, outstanding
communication system etc.
Employees: Jyske provides training to its employees, advanced technologies to help
to reduce pressure, gives incentives.

Environment and energy:

Jyske Banks view of environment and energy is in line with its wish to create a setting that
ensures a good working environment. Based on common sense, Jyske Bank is continuously
reviewing its energy consumption and chooses installations and solutions with a view to
minimizing energy consumption.
Jyske Bank:
Assesses installations and lighting in respect of their operating life and energy
Views architecture as a means to minimize energy consumption.
Focuses on possibilities of utilizing alternative energy sources.
Focuses on integration of energy sources in its building and construction projects.
Considers sustainability when choosing new decoration and layout elements.

Part 3: Strategies of Jyske Bank

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Core Values & service quality dimensions of Jyske:

Jyske bank is introducing the 5 dimensions of service quality in its core values of operations.
This relationship between core values and 5 basic service quality dimensions are

Core Value Service Quality Dimension

Effective and sustainable Reliability

Open and honest Assurance

Commonsense Responsiveness

Genuine interest and Equal respect Empathy

Physical innovations in service Tangible

STP method by Jyske:

Jyske bank brought some changes in its management style. JYSKE used many tools, trainings
and Jyske values to link them together through the share of values of their employees. JYSKE
bank implemented these in changing especially, their human resources.

The Bank reached its new customer-oriented competitive method. It is known as STP and
goes through the positioning in 3 stages - segmentation, targeting and finally positioning.
JYSKE bank implemented it in following ways -

1. Segmentation is done by following ways

Private Banking

Corporate Banking

Consumer Banking

2. Targeting is done by following ways

Danish families

Small to Medium Danish companies

3. Jyske bank finally positioned their bank as A bank which makes a difference for the

Marketing Knowledge and Service Gap of Jyske Bank:

While issuing significant amount of loans to the customer, Jyske Bank complicates
the credit process in different several lengthy layers .this process involves so many

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people, layers for reviewing loans. In examining this processes managers discovered
that most of the debates and communications were among individuals in the middle,
rather than between the employees closest to the customers who presumably had the
most information about the customer and the ultimate decision maker.
Jyske has given their employees the freedom and flexibility to fix up their own
working hours. Though the headquarters didnt have any problem with this, but the
union in Copenhagen worried that employees might misuse the flexibility.
Another problem evolved about the amount employees were able to spend on meals
and entertainment while travelling or entertaining customers.

Strategies for closing service quality gap model of Jyske Bank:

1. Customer Gap:

The customer gap was very less as the bank was able to provide customers
with their superior services.

They had only targeted the premium customers to whom the price was not
matter. As a result of which they were able to provide the customers high
quality services and were able to achieve minimum customer gap and highly
satisfied customers.

2. Provider Gap:

i. Gap 1: Listening Gap:

The listening gap was very less, as with the introduction of Jyske
Forkselle, the bank had come out with IT tool to first figure out the
customers problem and expectations.

They had dedicated a team of 4 employees per customer to get a better

understanding of customers problems.

ii. Gap 2: Service design and standard gap:

The bank was successfully able to close this gap. The bank provided its
customers with the best in class service in terms of the customer

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solutions and also provided customers with the best infrastructure
facilities to make them feel at home.

iii. Gap 3: Service performance gap:

The bank was successfully able to retain its employees and provide
them with adequate trainings.

Bank was not only the leader in customer satisfaction but also a leader
in employee satisfaction as well. The employees were provided with
good incentives and were kept happy so that they could work.

iv. Gap 4: Communication Gap:

The communication gap was very low. The bank provided the
customers with all the possible information that the customer required
and also provided the customer with all the solutions.

Strategies or way outs of the problems:

Jyske may appoint efficient and sensible employees on handling the credit department
wisely. Here the field level employees should have a better understanding over credit
control management.
Jyske can provide their employees flexibilities to fix up their own working hours but
after giving them a specific task limit or target.
Employees can submit a detailed expenditure report covering the rationalities behind
each expense within their allotted budget. Even the bank can be bound to pay more in
this regard if its really significant to the company.

Learning and Outcomes from the discussion:

We found that the discussion shows numbers of implications regarding banking activities of
Jyske Bank. We can learn how changes in service structure can prompt the overall
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performance. They changes services, products, prices, even the location and structure of the
offices. Jyske Bank branch offices are different from typical banks both inside and out.
Instead of mausoleum-like stone facades, they offer big plate windows to the street for the
purpose of window shopping. Pedestrian passersby can look into the huge windows and see
people inside enjoying themselves while sipping coffee, and they can see the big plasma
digital signage displays that continuously run videos of bank promotional messages.
Introduction of IT helped to better understand the customers needs and ways to fulfillment.
As symbol of better services, Jyske Markets acts globally and is open 24 hours a day. They
render advice, prepare and publish research reports, trades and quotes securities to promote
the performances.

We also see the contribution and performance of HRM in Jyske. The bank has 4,168
employees the end of March 2015. Since the development of service and quality much related
with employees performance and expertise, they introduced training; empowered the
branches to provide individual support and services. Besides, strong management style and
structural process in Human Resource Management was established across the branches.

Part 4: Recommendation

The discussion and scenarios shows little evidence on IT and related

performances. Since technology can faster the service and is quite inevitable,
Jyske needs to introduce more investment in this area.
The implementation of detail (instruction) needs to be in more structured ways.
Culture and languages also varies in Scandinavian countries. Therefore, service
should use language or culture adapted people and service models to deliver better


Jyske Bank has created distinction on both tangible and intangible dimensions. Their tangible
difference is created by their account team, branch design and details. Intangible differences

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come at training and empowering those employees closest to the customers. Employees are
always encouraged to make the decisions that may prove to serve customers in a better way.

Jyske Bank has created such an environment that customers never feel restricted. For all
those facilities provided customers rated this bank as the most satisfying bank in Denmark.
Also, the image rating shows that the bank upholds the position of having the most positive
attitude in consumer mind.


Baron, S. (2010). Service marketing. Los Angeles: SAGE.

Contributor, P. (2015). What is Environmental Analysis?. [online] PESTLE Analysis.

Available at: http://pestleanalysis.com/what-is-environmental-analysis/ [Accessed 16
Sep. 2016].

Optimistic, T., Foundation, T., Dam, J. and Brexit, T. (2016). Jyske Bank Private Banking.
[online] Jyskebank.com. Available at: https://jyskebank.com/en [Accessed 16 Sep.

Zeithaml, V., Parasuraman, A. and Berry, L. (1985). Problems and Strategies in Services
Marketing.Journal of Marketing, 49(2), p.33.

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