While many banks are closing branches, that is not necessarily the best strategy for banks attempting to stay close to their customers.
Transaction costs: Of course all banks want to reduce transactions costs, but how many look at their customer's cost/value trade-offs. A win-win may be online banking at Wells Fargo, or a tie-up with Quicken and Microsoft Money, assuming the customers in focus are computer-savvy and are happy with low touch. Transaction costs exist on both sides -- the bank and the customer. A bank's strategic plan should insure that the customer sees time-savings, lowered costs or improvements to his/her business.
Promotion: Promotion, advertising and other techniques should be the result of the above thinking. Once a bank decides on its chosen market and what services it wants to deliver, the decision on marketing strategies is much easier.
Conclusion
The preponderance of evidence indicates that banks which employ strategic planning are more profitable than those that don't. In addition, extraneous influences, increasing competition and lower barriers to entry have changed the banking world so much that, without a strategic plan, a bank risks being...
Strategic Planning and Implementation Over the last several years, identity theft has become a major issue that a number of individuals are dealing with. This is because criminals are using various techniques to be able to gain access to a host of personal information including: bank accounts, credit card / social security numbers and the date of birth. Once this occurs, is when they can assume the identity of this person
5. Strategic recommendation The strategic possibilities mentioned above are all important and have the ability to provide the financial institution with long-term stability. Nonetheless, since the company possesses limited financial resources at the time being, but also due to the complexity of the external and internal environments, not all four strategies can be developed. It is at this stage necessary to implement strictly those strategies which serve the immediate needs of
GE Capital Strategic Planning GE Capital Strategic planning Geographic diversification Sales and marketing Theoretical foundation of GE Capital management Between risk management and optimization Expansion as a management philosophy Capital funding model Organizational learning and knowledge management at General Electric (GE) Capital Knowledge management tools GE Capital Strategic Planning General Electric (GE) Capital is the subsidiary unit of General Electric (GE), USA. GE Capital is headquartered at Norwalk, Connecticut, United States and has five divisions within GE Capital i.e. GE Aviation Services,
Human Resource Strategies (internal/cost, External Cost, Internal/Differentiation, External/differentiation) Strategic Planning The internal/cost strategy for human resources aims at reducing the cost of certain processes within an organization so that, in an ideal situation, the amount of funding necessary to provide either a service or a product to a customer is significantly decreased. This strategy attempts to make an efficient use of virtually all internal resources, which revolves primarily about the deployment
" (2008) Williams finally state that dynamic computing can enable innovation through enabling it departments to shift "from a 'light on' operation to a proactive, forward-looking approach." (2008) SOCIAL CONTRACT The work of Edward M. Rizzo and Leslie a. Worsley entitled; "Emerging Technologies and the Internet Enable Today's E-Workforce" states that with the changes occurring in today's workforce "management requires a new way of thinking. The tools driving organizational effectiveness shave changed
Strategic Management Porter's Five Forces Model and Strategic Management as Applied to Bowne & Company Porter's Five Forces Model and Strategic Management as Applied to Bowne & Company Bowne & Co., Inc. is a financial services company which has been in business for 235 years. During this time the company has grown to become the world financial services leader in communication services, investor/shareholder relations and communications, and capital markets communication guidance. The communications side of
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now