Standard Chartered

1.1 Origin of the Study:

The Internship program is a prerequisite for the completion of the Bachelor of Business Administration Program of Jahangirnagar University. Each student has to work on a research project over the period of Internship Program. The assigned project for my Internship Program is "Strategies for Standard Chartered Bank in Retaining Credit Cardholders: An Analysis". The project has been assigned by the organization's supervisor and approved by the faculty supervisor. It has been completed during the organizational attachment period in Standard Chartered Bank from May 02, 2005 to July 31,2005.

1.2 Objective of the Study:

1.2.1 General Objective:

The general objective of preparing this report is to fulfill the requirement of Internship Program as well as completion the BBA Program through gaining the practical job experience and view the application of theoretical knowledge in the real life.

1.2.2 Project Objective:

* The broad project objective is to draw some strategies for Standard Chartered Bank, which helps to retain the rapidly growing customer volume.

In order to reach the broad objective, some specific research objectives are identified. These are as follows:

* To identify the reason behind the closing attitude of the credit card holders

* To provide an overview of the existing product and services offered by Standard Chartered Bank.

1.3 Significance of the Study:

With the global slow down in the face of rising competition, the customers faced with an increasing array of financial products and services and expecting more from providers in terms of customize offerings, value, ease of access and personalized services. As a result, retaining customers and minimizing shake are both major concern for financial service institution.

At present, Standard Chartered Bank is operating in the country with huge number of credit cards holders. But the current trend of the credit card indicates a rising rivalry among the different

competitor in the industry. Hence, a good number of SCB card holders are not continuing with the bank but switching to its competitors mainly because of better facilities such as more credit limit, less fees and charges etc. This might not cause a great deal of losing

profit of the Standard Chartered Bank however it is a matter of bank reputation.

To have an insight from the practical aspect, this study is carried out to identify various reasons behind the closing attitude of credit cardholders of Standard Chartered Bank.

At the same time, emphasize on the different existing product and services offered by the bank for their valuable cardholders.

Therefore, this study tries to give some suggestion of improving the services offered by the bank based on the reason behind closing attitude of the cardholders and comparative analysis with other banks to reinstate their valuable cardholders.

4.4 Scope of the Study:

The study initially focuses on the factors related with the credit card closing from the perspective of Standard Chartered Bank. It also draws a comparative analysis with the core features offered by three other competitor banks Prime Bank Ltd., Dhaka Bank Ltd. and HSBC Ltd). Moreover, within the study topic, issues related only with the Bank's Credit Card Division activities are discussed. The study excludes the market analysis of the credit cards. Beside, in depth analysis of the Bank's credit card process and financial analysis are not within the scope of the study.

4.5 Methodology of the Study:

4.5.1 Research Design:

The research design is a framework for conducting any research. It specifies information on the type of information to be collected, the source of the data and the data collecting procedure.

4.5.1.1 Type of Research:

The research in this study can be considered as both exploratory and descriptive. Initially, exploratory research was performed since little knowledge about the problem area existed. In order to increase the knowledge about the reason behind the closing attitude of the credit cardholders, the secondary data was studied, as well as literature regarding theories relevant for the problem area.

Before conducting the interviews with the case study objects, knowledge within Credit Card and its closer had been obtained. Thereby, descriptive research was used when taking the interviews.

4.5.1.2 Research Approach:

When conducting the research, there are two different approaches to consider, the deductive approach and the inductive approach. The deductive approach implies that a conclusion is derived from a known premise or something known to be true. In this study a deductive approach was chosen. This since the research starts with a literature overview based on which the general ground for the study is prepared. In addition, qualitative research approach will be followed as the problem of the study deals with words and observations rather than numbers.

4.5.1.3 Research Strategy:

For the undertaken study or research, two strategies will be followed: Primary data analysis and Secondary data analysis. Because primary data analysis will provide the existing situation of the bank in retaining the credit cardholders as described by the data source or respondents. Secondary data analysis is a review of data collected for another purpose to clarify issues in the early stages of the research effort.

4.5.2 Sample Design Process:

A sample is a subset of population. During the sample design process the target population, the sampling frame, sampling technique and the size of the sample are identified.

4.5.2.1 Identification of the Sample Population:

The target population is the specific group relevant to the research project, the group that possesses the information relevant to the researcher. In this study, the population for the study will only be limited to the cardholders who want to close their Standard Chartered Credit Cards. Beside this, to get an overview about the features of SCB credit cards