The fight against ethnocentrism

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Gordon Turner
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1 The fight against ethnocentrism Carsten Elmose, Senior Vice President, Customer Satisfaction and Sales Behaviour January 2012

2 Carsten Elmose Current position BADK Head of Customer Satisfaction and Sales Behaviour Senior Vice President Part of Executive Committee BADK Career in Danske Bank 2005 Croup Communication: Head of Market Analysis 2006 Group Business Development: Head of Service Quality Management (today Strategic analysis) 2009 BADK, Business Development: Head of Sales and Behaviour Customer Satisfaction and Sales Behaviour 2 departments: Customer Insight- and Dialogue Analytical department plus all sorts of customer dialogue (complaints, social media etc.) Sales- and Management Behaviour Increase customer satisfaction and sales through training of management and advisors plus development of sales and customer satisfaction concepts 2

and Behaviour Customer Satisfaction and Sales Behaviour 2 departments: Customer Insight- and Dialogue Analytical department plus all sorts of customer dialogue (complaints, social

3 You might know us for concepts such as: The good customer meeting MOT concept MOT-toolbox Tæt-på-ledelse &SOV Dialogue facebook etc. Customer Panel 3

4 Aim of my presentation To discuss with you what I believe are fundamental prerequisites if we are to transform Joachim s insights to successful actions - Better understanding of customer preferences - Better understanding of our own limitations (each of us in here) Not a fact book more input for you to reflect, especially on your own role - Engage the philosopher in each of you 4

preferences - Better understanding of our own limitations (each of us in here) Not a fact book

5 Speaking of philosophy The fight against ethnocentrism Ethnocentrism is making value judgments about another culture from perspectives of one s own cultural system. The ethnocentric individual will judge other groups relative to his or her own particular ethnic group or culture, especially with concern to behaviour, customs, language and religion. 5

The ethnocentric individual will judge other groups relative to his or her own

6 Joachim just told you what we need to do to be more successful! 6

7 Not an easy thing to do especially much better than your competitors 7

8 So how can it be done? Very important pre-requisite: Much better understanding of our customers - A little exercise: Name a recent big success for the bank! 8

9 Understanding where our customers are 9

10 So how can we do it Pre-requisite no. 1: Much better understanding of our customers - Name a recent big success for the bank! To achieve a much better understand of our customers we need to: - Disconnect our own personal preferences/beliefs much more than today - Understand and accept the past (mistakes), and learn from them (instead of defending) 10

To achieve a much better understand of our customers we need to: - Disconnect our own

11 Fighting your own etnocentricity and understand customers better not an easy thing to do Why? - Because your customers are in general VERY different from you! Participant data Number of participants 30 Average of managerial experience Manager of manager experience Average of work experience Average age Gender ratio 4 years 7% 13 years 37 years 30% women 70% men What happens when we do not succeed in disconnecting ourselves? Some lessons from the past 11

Participant data Number of participants 30 Average of managerial experience Manager of manager experience Average

12 The 20 largest banks in the Danish market 1 Danske Bank 11 Alm. Brand Bank 2 Nordea Bank Danmark 12 Sammenslutn. af Danske Andelskasser 3 Jyske Bank 13 Sparekassen Kronjylland 4 Sydbank 14 BankNordik 5 Nykredit Bank 15 Sparekassen Sjælland 6 Spar Nord Bank 16 Den Jyske Sparekasse 7 FIH 17 Sparbank 8 Arbejdernes Landsbank 18 Fjordbank Mors 9 Vestjysk Bank 19 Lån & Spar Bank 10 Ringkøbing Landbobank 20 Sparekassen Himmerland 12

af Danske Andelskasser 3 Jyske Bank 13 Sparekassen Kronjylland 4 Sydbank 14 BankNordik 5 Nykredit Bank 15

13 Why is that interesting? Der et spørgsmål om tid, før kunderne i de traditionelle banker spørger sig selv, hvorfor de skal betale for en filial, som de aldrig besøger alligevel Udtalelse 2003 i Politiken fra direktør Henrik Vadi, Skandiabanken Stadig flere kunder klarer de gængse bankforretninger via netbank, så kassebetjeningen i filialerne er overflødig og er forsvundet om nogle år Artikel i Berlingske,

betale for en filial, som de aldrig besøger alligevel Udtalelse 2003 i Politiken fra direktør Henrik

14 Another example Question: When did we launch the mobile bank? 14

15 15 My message to you - remember The future is always further away than you think This will happen again - unless We learn from the past and seeks a great knowledge of our customers We start to disconnect our own personal preferences and beliefs 15

from the past and seeks a great knowledge of our customers We

16 So to succeed we are all needed isn t that great It s all about People Customers You and your colleagues And remembering that the future is always further away than you think The people and only the people is the engine behind the creation of world history (Kliche, 1980) 16

future is always further away than you think The people and only the

17 What to do different from tomorrow You cannot make a revolution You cannot change the large structures of the bank overnight But you can start! 17

Totalkredit A/S publishes a supplement to prospectus for the offering of mortgage bonds in connection with the announcement of the Annual Report 2013.

To NASDAQ OMX Copenhagen A/S 6 February 2014 Totalkredit A/S publishes supplement to prospectus for the offering of mortgage bonds Totalkredit A/S publishes a supplement to prospectus for the offering