DBS one of largest organisations in financial sector of Asia

DBS one of largest organisations in financial sector of AsiaDBS was launch in 1968 as the bewilder awayment bank of capital of Singapore. Since then, DBS has transformed into a favored financial services institution, offering a comprehensive range of ripe products. In Singapore, the bank occupies market-dominant positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund-raising. going a mode internationally, the bank has a regional network with more than 200 branches and oer 1,000 ATMs across 50 cities.DBS primary operations atomic number 18 in Singapore and Hong Kong, two of Asias best regulated markets, which contributed 65% and 19% of net earn in 2008 respectively. The bank operates two brands in Singapore DBS and POSB. POSB is a rise up-loved book market franchise that currently has a customer base of oer 3.2 million Singaporeans.As one of the leading banks in Asia, DBS gains a great global workforce of 14,000 sta ffs, representing over 30 nationalities. The bank announced S$6031 million of operating income in 2008. DBS philosophy is to empowering, educating and engaging our staff so as to build a high performance system of rules far-famed for its good customer service and mod condescension solutions.Because of a vast amplitude and complexity in operation as an international largest organization, and variant for an adequate-content theme, it is ineffective to investigate whole aspects of DBS in the effort of implementing acquaintance management. Instead, this report will specify in exploring the DBSs concept and its basic approaches to fundamentals of cognition Management. Key content will focus on identifying fellowship Management march, build Knowledge Management System, Mechanism and Technology, ultimately base. Challenges and benefits gained from implementation process are overly mentioned in the report as well as recommendation and analysis.Throughout years of operation, DB S now sees the depth and significance of Knowledge Management. In its development journey, DBS learnt that this conception must be essentially seen as a vitally minute point, an innovative strategy towards a sustainability business model rather than a diverse and complex hazard. That right and visional centering are now put primarily on one of the semipermanent goals of the organization. Moreover, DBS business is in banking and finance industry where multiplicity of information and cognition is created and updated every hour, the need of Knowledge Management becomes critically essential than ever.To assume with, DBS sees official meetings as an approaching mechanism for fellowship discovery. As the temperament of the business, the need for valuable information which then converted to acquaintance is critical for the bank. This knowledge is defined and explored by neither the interaction between sight in the organization nor just simply synthesized from antecedent data. For instance, there is unendingly a meeting in Sales Department which also has a presence of Branch Manager every Monday morning to revise previous works and orient sales activities for the week. More significantly, Board of Directors and Management mission also arrange official meetings 4 times every behind to undertake a careful overview of decision making in versatile levels and aspects of the organization.Telephone conversation is also applied in the process of knowledge discovery. However it is verbalize that not preferable as DBS determine attend to face conversation where information can be transferred and conveyed in a full meaning of ship canal.To enhance Knowledge discovery, DBS also invested in technology. ane exemplary approach is the development of DBS database. This is an organized collection of data for masses within the organization However, accessibility in sensitive information may not be exposed to every employee. A very utile and beneficial application o f DBSs database is its customer databases. In order to promote loans, risk management, and further observation, DBSs customer database is constructed to record contact, credit, and personal information such as salary, current financial situation. This database is well designed to specifically and easily create, store, bet and retrieve contents which has a great impact in knowledge discovery process.DBS is also aware of the Knowledge Capture and Share process. Practically, the organization promote on the job training under DBS Management colligate Programme. This is an experience-based development offered to new employees. Along the route, they will acquire the most conjecture and chances to decide their career path when experimental learning is gained across incompatible type of roles. By doing this, DBS ensures that organisational knowledge is able to be conveyed and captured.Furthermore, to engage the strength of technology in the process of knowledge capture and sharing, DBS invested warily in figurer-based communication. Each employee in the organization practically has their own computer which is well connected to the rest of the company. Instant message, email, chatroom is promoted in a rigorous manner within the organization to enhance the creation of amicable network and information exchange. Significantly, the organization also has its own server where solo people within the company can access. This server is well managed and develop for human interaction and database warehouse.In DBS, direction of knowledge is also well conveyed. Each employee knows warily the structure of the organization, specifically in their department. By that meaning, the kinship and relative ranks of parts and positions are well determined. Thus, employee would be guided by following the instruction or direction from the top wherever lying-in uncertainty is encountered. Moreover, to promote routine process, DBS sets up organizational policies and work bars for saf ety, health in workplace.A more particular enhancement in Knowledge Application in regard of routine process is the implementation of Enterprise-wide center of attention Credit Risk Policy. This establishes the principles and policies followed by the entire organization to conduct banking and financial activities and operation under specified credit risk management.Significantly, Knowledge Infrastructure is insightfully aware and constructed by DBS from the early stage. Building up adequate and expeditious database within the organization, keeping track with customer information and applying thoroughly technology into workplace are remarkable efforts and practices of DBS to utilize the strength of knowledge.Strong organizational culture is achieved in DBS where every employee is well perceived of the organization values. predilection is made wherever a new employee joins the group to ensure they aspire awareness of DBSs pathway as a world class regional bank, renowned for qualit y, added value, and innovative service at affordable cost to customers and their ways of doing things. Following the orientation, specific goals and standards of behavior are also clearly alleged to lead and guide organizational members to pursue appropriate actions. More remarkably, although promoting a well-built internal culture, DBS acquires good awareness of a phenomenon, Groupthink which is easily implied from strong culture. They understand this incident can result in a reduction of innovative capacity within the organization. In regard of this issue, DBS introduces guidelines, organizational campaign and building feedback centre in order to encourage its employees to strive for creativity and challenges. organizational cultureis an idea in the field oforganizational studiesandmanagementwhich describes the psychology, attitudes, experiences, beliefs and values (personal and cultural values) of an organization. It has been defined as the specific collection of values and norm s that are shared by people and groups in an organization and that control the way they interact with each other and withstakeholdersoutside the organization.1This definition continues to explainorganizational values, also known as beliefs and ideas well-nigh what kinds of goals members of an organization should pursue and ideas about the appropriate kinds or standards of behavior organisational members should use to achieve these goals. From organisational values develop organizational norms, guidelines, or expectations that prescribe appropriate kinds of behavior by employees in particular situations and control the behavior of organisational members towards one another.1Where culture is strong-people do things because they think it is the right thing to do-there is a risk of another phenomenon,Groupthink. this is a state where people, even if they have different ideas, do not challenge organizational thinking, and therefore there is a reduced capacity for innovative thoughtsIt i s also growing its own talent.We are now in the process of evolution talent programme at the each level, much like Exxon Mobils or Citis talent programme. You have a rigorous focus, you find the right people, you give them development opportunities, and you give them training opportunities, said Gupta.He said DBS is flavour for people to staff what he calls a Policy Desk. They will potation policies in areas like decision-making and organisation structure.Other new initiatives include a Customer Experience Council to improve service, and an Innovation Council to promote a standard way of thinking. CNA /lshttp//en.wikipedia.org/wiki/DBS_Bankhttp//www.dbs.com/dbsgroup/about/default.aspxhttp//www.sgx.com/wps/portal/marketplace/mp-en/listed_companies_info/corporate_infoDBS management programme http//www.dbs.com/careers/graduates/Pages/default.aspx