Service marketing Essay Example | Topics and Well Written Essays - 1000 words

Service marketing - Essay Example besides the storm had hit the hardest by the end of 2008 when the coin bank had lost both its CEO and Chairman on 19th December, 2008. Ireland was shocked by one of its greatest financial scandal which led Mr. Sean Fitzpatrick, Chairman-AIB and Mr. David Drumm, CEO-AIB to resign thereby leaving behind a scar of undisclosed loan to the tune of 87 million. Though it was presumable that these loans didnt have any illegal intention as well as consequence, the Financial governor had observed that the actions that were taken in order to transfer them were inappropriate (Farrell, 2008).On 15th January, 2009, the Irish presidency took the decision not to recapitalize AIB, but to nationalize it (Collins, 2009). On the next day AIBs shares were shelved and the Government jilted its previous decision of injecting cash to revive the scandal stricken bank (OBrien, 2009).At the wake of 2009 AIB had move from the status of Irelands pride to that of a tainted na tional scandal. Its woes have continued throughout utmost(a) year and even in 2010 the bank is struggling with a multitude of wide ranging issues such as serious lack of transparency and legislative complications (Ihle, 2010).The undisputed strengths of AIB are its rich heritage and corporate experience. The bank should retrospect and continuously learn from itself. Though it has entered into an unfavorable phase, yet owing to its inherent strengths, AIB can dislodge itself as the pride of Ireland.On account of being nationalized AIB has got an opportunity to appease its customers to some extent. It should make optimum use of this chance and implement strategies to reposition itself as a premier financial institution.The most important threat that AIB faces in the current situation is that of uncertainty. The bank has lost its credibility and hence will be under constant public vigilance. AIB should adopt