Customers Need
A company must retain & attract new customers.
Company must identify the customers requirement on timely manner (Company should change its way of thinking about customer).
Wealthy customers are important and the same time they should have to give some priority to their small investment too. Because large number of small investors too can make a change.
Company should provide better online solution than their competitors otherwise due to increase of using internet Investors may compare the facilities and information given by Morgan Stanley against it competitors.
Work environment must be improved and employees should not feel as out sliders and disrespected.
Good Brokers are not leaving Morgan Stanley because they couldnt get printout of clients report easily but they are leaving because they can make more money and feel more secure at other companies. Therefore company should create an environment which employees feel more secure and they will be paid as their performance.
The “one-firm culture” needed to unify Institutional Securities, Asset management, Retail Brokerage and Discover Card services
3. Why was Dean Witter and Retail Brokerage a good place to increase spending on information systems? (Review the six strategic objectives of information systems discussed in section 1.1.)
Because of the lack of investments in technology used in retail brokerage faced and it influence to reduce the customer attraction, these are some problems occurred:
Retail Brokerage and employee systems was not well-integrated , that caused to visit brokers to their offices on weekends to print because of the outdated computer systems could not
handle the multi tasks simultaneously during normal business hours
Desktop PCs, which hadnt been upgraded in years, would often crash and printers clogged because of hadnt capabilities of handling multi users at same time.
Brokers did their work without benefit of an application that provided both real-time stock quotes and transaction histories.
Customers complained about the website.
Top brokers started to leave, taking with them the
portfolios of numerous important clients.
Profits specifically from Retail Brokerage dropped.
Finally Retail brokerage begun to address the issue