Measurement of Service Efficiency in Different Types of Banking Services

Abstract

As the share of services in economies grow globally, the efficiency of service production becomes crucial. Despite the many studies on service efficiency, it has proven difficult to find the right measures. The main reason is wide range of services from simple to complex, and from mass to professional services. Consequently, there are no commonly accepted measurement frameworks for comparing the efficiency of different types of services. The Service process matrix developed by Schmenner is one of the most widespread and has been extended and applied by many other researchers. This paper uses the classification of the Service process matrix and its four basic services types recognized in the analysis of service efficiency measurement. The focus of analysis is on banking services, as the industry has services in all of the main services categories. Each category is analysed separately, literature is reviewed for suitable measures and suitable measures of efficiency for all service types are proposed.

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