Making sense of strategy
B301A
Making Sense of Strategy I
An Analysis of the Impact of the Internet on Competition in the Banking Industry, using Porter’s Five Forces Model
[Student Name]
[Student ID]
[Submission Date]
Words: 2500
Table of Contents
An Analysis of the Impact of the Internet on Competition in the Banking Industry, using Porter’s Five Forces Model
Question 1:
Examine how the emergence of the internet is likely to affect the competitive landscape of the banking industry.
a. Evolution of Internet & its Effects on Banking Industry:
In today’s modern era, nobody can deny the immense growth of technology and power of computerization. Modern computerized revolution has penetrated into every sector in the form of internet. The emergence of internet has greatly helped the banking industry to setup a domain of its clients and mark their geographic locations.
This computerized system of banking simply refers to E-banking that is a broad term that takes place on the online system. There is no need to go personally to the bank; it only demands an online system to make the financial transactions. It can also be called as online banking, phone banking or a personal computer banking, etc. The power of online banking and e-business solutions has greatly helped the customers to make instant transactions online. With these latest wired facilities, banks can easily carry out their operations online and can offer their valuable services to their clients. Be it the account operations, or the e-business plans, the online banking system now provides full convenience to its customers to check the status of their accounts and to make transactions at its fastest pace.
Electronic banking has become a platform to meet the demands of the changing and growing consumer as well as develop a new base of customers. It is not only the fastest mean of transaction but also provides more efficient ways to handle your bank account. It has provided many job
Making Sense of Strategy I
An Analysis of the Impact of the Internet on Competition in the Banking Industry, using Porter’s Five Forces Model
[Student Name]
[Student ID]
[Submission Date]
Words: 2500
Table of Contents
An Analysis of the Impact of the Internet on Competition in the Banking Industry, using Porter’s Five Forces Model
Question 1:
Examine how the emergence of the internet is likely to affect the competitive landscape of the banking industry.
a. Evolution of Internet & its Effects on Banking Industry:
In today’s modern era, nobody can deny the immense growth of technology and power of computerization. Modern computerized revolution has penetrated into every sector in the form of internet. The emergence of internet has greatly helped the banking industry to setup a domain of its clients and mark their geographic locations.
This computerized system of banking simply refers to E-banking that is a broad term that takes place on the online system. There is no need to go personally to the bank; it only demands an online system to make the financial transactions. It can also be called as online banking, phone banking or a personal computer banking, etc. The power of online banking and e-business solutions has greatly helped the customers to make instant transactions online. With these latest wired facilities, banks can easily carry out their operations online and can offer their valuable services to their clients. Be it the account operations, or the e-business plans, the online banking system now provides full convenience to its customers to check the status of their accounts and to make transactions at its fastest pace.
Electronic banking has become a platform to meet the demands of the changing and growing consumer as well as develop a new base of customers. It is not only the fastest mean of transaction but also provides more efficient ways to handle your bank account. It has provided many job
References: Gefen, D. and Straub, D. (2000). The relative importance of perceived ease of use in IS adoption: A study of E-Commerce adoption. Journal of the Association for Information Systems, 1, pp.1-28. Gerrard, P. and Cunningham, J.B. (2003). The diffusion of Internet banking among Singapore consumers, International Journal of Bank Marketing, 21(1), pp.16–28 Kalakota, R. and Whinston, A.B. (1997). Electronic commerce - A manager’s guide. Massachusetts: Addison-Wesley Longman. Porter, M.E. (1979) How Competitive Forces Shape Strategy, Harvard Business Review Simpson, J. (2002), The Impact of the Internet in Banking: Observations and Evidence from Developed and Emerging Markets. Telematics and Informatics, 19(4), pp.315-330. Thornton, J. and White, L. (2001) Customer orientations and usage of financial distribution channels, Journal of Services Marketing, 15(3), pp.168-185.