DBS was set up in 1968 as the development loan company of Singapore. Since then, DBS has transformed into an effective financial services establishment, offering a detailed range of impressive products. In Singapore, the lender occupies market-dominant positions in consumer bank, treasury and markets, property management, securities brokerage, equity and arrears fund-raising. Going internationally, the lender has a regional network with an increase of than 200 branches and over 1, 000 ATMs across 50 places.
DBS' primary businesses are in Singapore and Hong Kong, two of Asia's best regulated markets, which added 65% and 19% of online income in 2008 respectively. The lender runs two brands in Singapore - DBS and POSB. POSB is a well-loved mass market franchise that presently has a customer base of over 3. 2 million Singaporeans.
As one of the leading banking institutions in Asia, DBS benefits a massive global workforce of 14, 000 staffs, representing over 30 nationalities. The bank announced S$6031 million of functioning income in 2008. DBS school of thought is to empowering, educating and interesting our staff so as to build a powerful organization renowned for its good customer service and ground breaking business solutions.
Because of an enormous amplitude and difficulty in procedure as a global largest company, and striving for an adequate-content statement, it is ineffective to investigate entire areas of DBS in your time and effort of utilizing Knowledge Management. Instead, this article will identify in checking out the DBS's theory and its basic approaches to basic principles of Knowledge Management. Key content will focus on discovering Knowledge Management process, building Knowledge Management System, Device and Technology, in the end Infrastructure. Issues and benefits gained from implementation process are also mentioned in the record as well as recommendation and examination.
Throughout years of procedure, DBS now is aware of the depth and need for Knowledge Management. In its development journey, DBS learnt that this conception must be essentially seen as a vitally critical point, an impressive strategy towards a sustainability business model rather than a diverse and complex risk. That right and visional way are actually put primarily on one of the long-term goals of the organization. Moreover, DBS business is banking and fund industry where multiplicity of information and knowledge is created and updated every hour, the necessity of Knowledge Management becomes critically essential than ever.
To focus on, DBS sees recognized conferences as an approaching mechanism for knowledge discovery. As the type of the business, the necessity for valuable information which then changed into knowledge is crucial for the lender. This knowledge is defined and explored by neither the relationship between people in the business nor just simply synthesized from earlier data. For example, there is always a meeting in Sales Section which also has a occurrence of Branch Supervisor every Monday morning hours to revise previous works and orient sales activities for the week. More significantly, Table of Directors and Management committee also set up official conferences 4 times every one fourth to undertake a careful summary of decision making in a variety of levels and areas of the organization.
Telephone conversation is also applied along the way of knowledge breakthrough. However it is stated that not more suitable as DBS values face to face dialog where information can be moved and conveyed in a complete so this means of ways.
To enhance Knowledge discovery, DBS also committed to technology. One exemplary strategy is the introduction of DBS database. That is an organized assortment of data for individuals within the business - However, convenience in hypersensitive information may well not be exposed to every employee. A very useful and beneficial program of DBS's database is its customer directories. In order to promote loans, risk management, and further observation, DBS's customer database is constructed to record contact, credit, and private information such as salary, current economical situation. This databases is smartly designed to specifically and easily create, store, search and retrieve material which has a great impact in knowledge discovery process.
DBS is also alert to the Knowledge Shoot and Share process. Practically, the business promote on the job training under DBS Management Associate Programme. This is an experience-based development wanted to new employees. Along the way, they will find the most opportunity and chances to decide their career course when experimental learning is gained across different kind of roles. By doing this, DBS ensures that organizational knowledge is able to be conveyed and captured.
Furthermore, to work with the strength of technology along the way of knowledge shoot and sharing, DBS invested warily in computer-based communication. Each staff in the organization almost has their own computer which is well linked to all of those other company. Instant meaning, email, chatroom is advertised in a strenuous manner within the business to enhance the creation of communal network and information exchange. Significantly, the business also has its own server where only people within the company can gain access to. This server is well been able and developed for individuals interaction and database warehouse.
In DBS, route of knowledge is also well conveyed. Each employee is aware of warily the composition of the organization, specifically in their team. By that so this means, the relationship and relative rates of parts and positions are well established. Thus, worker would be led by following the instruction or direction from the most notable wherever task doubt is encountered. In addition, to promote regular process, DBS sets up organizational regulations and work expectations for safe practices, health in work area.
A more particular augmentation in Knowledge Application in regard of boring process is the execution of Enterprise-wide Key Credit Risk Plan. This establishes the principles and policies accompanied by the entire company to conduct banking and financial activities and procedure under specified credit risk management.
Significantly, Knowledge Infrastructure is insightfully aware and constructed by DBS from the early stage. Accumulating adequate and reliable database within the organization, keeping monitor with customer information and applying extensively technology into work place are remarkable work and methods of DBS to make use of the strength of knowledge.
Strong organizational culture is achieved in DBS where every employee is well recognized of the organization values. Orientation is made wherever a fresh staff joins the group to ensure they get awareness of DBS's pathway as "a world class regional lender, renowned for quality, added value, and innovative service at affordable cost to customers" and their means of doing things. Following a orientation, specific goals and specifications of habit are also obviously mentioned to lead and guide organizational members to pursue appropriate activities. More extremely, although promoting a well-built interior culture, DBS acquires good awareness of a sensation, Groupthink which is easily implied from strong culture. They understand this incident can lead to a reduction of progressive capacity within the business. In regard of the issue, DBS presents guidelines, organizational marketing campaign and building responses centre to be able to encourage its employees to shoot for creativity and obstacles.
Organizational culture is an idea in the field of organizational studies and management which describes the psychology, attitudes, experiences, beliefs and values (personal and ethnical values) of an organization. It's been thought as "the precise collection of principles and norms that are distributed by people and groups in an company which control the way they connect to each other and with stakeholders beyond your organization. "
This definition continues to demonstrate organizational ideals, also called "beliefs and ideas in what types of goals users of a business should go after and ideas about the correct kinds or benchmarks of behavior organisational customers should use to accomplish these goals. From organisational prices develop organizational norms, rules, or anticipations that recommend appropriate types of tendencies by employees specifically situations and control the behavior of organisational associates towards one another. "
Where culture is strong-people do things because they believe it is the right thing to do-there is a risk of another phenomenon, Groupthink. this is circumstances where people, even if they have different ideas, do not task organizational thinking, and therefore there's a reduced convenience of innovative thoughts
It is also growing its own talent.
"We are actually along the way of developing expertise programme at the each level, much like Exxon Mobil's or Citi's talent programme. You may have a rigorous emphasis, you find the appropriate people, you provide them with development opportunities, so you give them training opportunities, " said Gupta.
He said DBS is looking for folks to staff what he telephone calls a "Coverage Desk". They will draft guidelines in areas like decision-making and organisation composition.
Other new initiatives add a Customer Experience Council to improve service, and an Innovation Council to promote a standard way of thinking. - CNA /ls
http://en. wikipedia. org/wiki/DBS_Bank
http://www. dbs. com/dbsgroup/about/default. aspx
http://www. sgx. com/wps/portal/marketplace/mp-en/listed_companies_info/corporate_info
DBS management programme http://www. dbs. com/careers/graduates/Pages/default. aspx
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