# HUMBER INSTITUTE OF TECHNOLOGY AND ADVANCED LEARNING (HUMBER COLLEGE)
## ASSIGNMENT: Group Assignment
## Topic: TD Bank Analysis
## Canadian Business and Strategy
#### Reported & Submitted by: Dai-Phuong Ngo
#### Submitted to: Professor Nataliya Korchagina
#### Section Grade: 10/10
#### Comments:
"In general, a very good value chain analysis. Please make sure you make adjustments according to my questions and comments. Section grade is 10 out of 10."
## Porter’s Value Chain Analysis
The first thing before applying the Value Chain Model is to recognize the importance levels of all activities based on each activity’s contribution to the process of service and product delivery (Jurevicius, n.d.).
Among the primary activities, TD’s inbound logistics are activities to receive, store and distribute product inputs internally. Maintaining good relationships with suppliers is the key factor here (Team, n.d.). They include warehousing products, handling materials, receive and store information on digital platforms (Dennis Campbell, n.d.), and ensure consistent service delivery, workflow, administrations at the call center, and reference documentation for front-line staff (Tong, 2005).
The importance of operations increases upon improving operational efficiency, extending competitive advantage, and maintaining the trust of individuals. Several typical examples of it that TD can proceed with is transforming data into insights and understanding its customers in a deeper knowledge and delivering what is needed and expected. TD can also modernize, optimize, and simplify by deploying EasyApply in Canada to help customers apply for loans and open accounts for deposits (TD Bank Group, 2021). Operations duties can vary from collections to retail lending operations. For every product created, transaction completed, customer served, loan or mortgage underwritten, reviewed, and closed, it must be TD's shared commitment to executing at the highest caliber (TD Bank, n.d.).
Outbound logistics are activities of delivering the actual product and service to customers. Several ones can be mentioned such as handling inquiries by various online or offline means, dealing and granting loans or mortgages, activating access for customers to their cards, setting up accounts on the system. By analyzing and optimizing the outbound logistics, TD can enhance customer satisfaction promptly and personalized service, as well as increase business growth opportunities (Tong, 2005).
Sales play a critical role to generate sales and revenues, engage and retain customers (Pratap, notesmatic.com, 2019). The sales team takes advantage of managing staff and sales more efficiently and serving customers by applying technology into daily tasks, such as TD Ready Advice assisting customers personally with online resources (TD Bank, 2020). Besides, marketing activities consist of supporting sales, advertising, and branding. The prime purpose is maximizing sales and brand awareness. TD can analyze these activities to be outstanding from the other top 5 banks in North America with its differentiated brand (TD Bank, 2020).
Developing customer loyalty also means that TD must put specific efforts into its pre-sale and post-sale service. It can take place via multiple channels such as call center, retail banking, self-service through websites and other digital platforms. Customer surveys after providing service or transaction can play a role to collect feedback, take measurements of service quality and enhance training plans further (Tong, 2005).
Regarding human resource management, workforce resilience is vital for TD to keep delivering its exceptional experience to customers. All internal and external stakeholders consider that talent recruitment, development, and retention are crucial. The work nature has been modifying even before COVID-19, and TD must adapt to the changing pattern and help all associates to continue learning and developing in this world of digital technology (TD Bank, 2020).
The current modern era creates dependence on technological support for nearly all activities of the value chain. One of TD Bank’s priorities is protecting the customers and the Bank by actively managing and monitoring risks of privacy and security to strengthen abilities to solve them upon likely-or-not arrival of issues (TD Bank, 2020).
TD’s procurement aims for responsible procurement with a North American Strategic Sourcing Group establishing a framework for selecting suppliers. A disciplined selection process of suppliers helps all TD businesses to source initiatives, evaluate, negotiate, and arrange suppliers. Supplier policies such as outsourcing and external supplier risk management policies in Canada also assist TD to ensure the due diligence process for arrangements and relationships with suppliers according to its principles, philosophies, objectives, and strategies (TD Bank, 2017).
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