Communication Strategies in Cee
Communication strategies in CEE
Case Study for Banking Services: Foreign Bank Established in Bulgaria.
Background
Globalization is growing faster than ever. In order to keep up with the competition, companies are forced to think globally and to expand their business across borders.
National boundaries are falling and multi-national companies are increasing in numbers. Due to the growth of the service sector and its important role for many countries in compensating trade deficits, as well as ist increasing internationalization, service companies have become more and more important.
Internationalization of the Banking Industry
Financial activity across borders is a phenomenon as old as international trade.
Since the 1960s, the internationalization of banks has expanded at a rapid pace, and banks from all over the world have established themselves abroad since then.
Banks have been encountering numerous challenges during the past two decades, including recessions, competition and image problems. Additionally, many banks have been facing mature domestic markets with limited future growth potential, which as a result, has led to expansion of their services abroad. Today, they are more likely to be efficient and modern institutions operating in a highly competitive environment, and often on international markets.
Primary driving forces behind these transformations: * the process of globalization
Globalization has affected the banking sector both directly, through the increasing interdependence of national financial markets, and indirectly, through the parallel internationalization of organizations. * the reduction of regulations concerning the banking industry in most countries * the technological expansion
For a long time retail banking operations have to a great extent been conducted nationally. Internationalization within this sector is now taking place, either through cross-border mergers and acquisitions, or through the
Case Study for Banking Services: Foreign Bank Established in Bulgaria.
Background
Globalization is growing faster than ever. In order to keep up with the competition, companies are forced to think globally and to expand their business across borders.
National boundaries are falling and multi-national companies are increasing in numbers. Due to the growth of the service sector and its important role for many countries in compensating trade deficits, as well as ist increasing internationalization, service companies have become more and more important.
Internationalization of the Banking Industry
Financial activity across borders is a phenomenon as old as international trade.
Since the 1960s, the internationalization of banks has expanded at a rapid pace, and banks from all over the world have established themselves abroad since then.
Banks have been encountering numerous challenges during the past two decades, including recessions, competition and image problems. Additionally, many banks have been facing mature domestic markets with limited future growth potential, which as a result, has led to expansion of their services abroad. Today, they are more likely to be efficient and modern institutions operating in a highly competitive environment, and often on international markets.
Primary driving forces behind these transformations: * the process of globalization
Globalization has affected the banking sector both directly, through the increasing interdependence of national financial markets, and indirectly, through the parallel internationalization of organizations. * the reduction of regulations concerning the banking industry in most countries * the technological expansion
For a long time retail banking operations have to a great extent been conducted nationally. Internationalization within this sector is now taking place, either through cross-border mergers and acquisitions, or through the