Mis-760 Citibank Case Study
MIS 760 – IT Strategy
Case Study: Citibank’s E-Business Strategy for Global Corporate Banking
Please prepare an analysis of this case. Your write-up should be 4 to 7 pages. Each of the following questions should be addressed individually:
1. What are the impacts of the internet on the competitive landscape of corporate banking? (Hint: use Porters 5 forces)
The statements below are the impacts of the internet on the competitive landscape of corporate banking: * Intense competition which further increased the rivalry amongst existing competitors * The challenges of serving corporate customers with a variety of needs in terms of size of organization and how progressive and open to change these companies were. Based on the resistance received this could create a threat of substitute products or services. * The aggressive changes that were being made by Citibank placed them away head of the competition. This lead in front of their competitors could create new alliances to limit the gap. * The new markets that are potentially Citibank’s creates a challenge to lower cost, improve efficiency while still meeting the needs of the customers. * The substitute products such as local banking and or older systems which may not be as progressive as Citibank in terms of technology.
2. What has Citibank done to differentiate its e-business products from those of its competitors? Citibank was able to differentiate its e-business products from those of its competitors by focusing on customer satisfaction instead of only the bottom-line. Customer satisfaction was focused on the support, technology and response time, making sure the clients felt confidence in the brand. The customer service along with the products are the reasons why Citibank is able to keep its recognition and loyalty throughout the world. Citibank used many technologies to get more clients satisfied such as ATM’s, telephone lines, and the paperless system of payments which is a
Case Study: Citibank’s E-Business Strategy for Global Corporate Banking
Please prepare an analysis of this case. Your write-up should be 4 to 7 pages. Each of the following questions should be addressed individually:
1. What are the impacts of the internet on the competitive landscape of corporate banking? (Hint: use Porters 5 forces)
The statements below are the impacts of the internet on the competitive landscape of corporate banking: * Intense competition which further increased the rivalry amongst existing competitors * The challenges of serving corporate customers with a variety of needs in terms of size of organization and how progressive and open to change these companies were. Based on the resistance received this could create a threat of substitute products or services. * The aggressive changes that were being made by Citibank placed them away head of the competition. This lead in front of their competitors could create new alliances to limit the gap. * The new markets that are potentially Citibank’s creates a challenge to lower cost, improve efficiency while still meeting the needs of the customers. * The substitute products such as local banking and or older systems which may not be as progressive as Citibank in terms of technology.
2. What has Citibank done to differentiate its e-business products from those of its competitors? Citibank was able to differentiate its e-business products from those of its competitors by focusing on customer satisfaction instead of only the bottom-line. Customer satisfaction was focused on the support, technology and response time, making sure the clients felt confidence in the brand. The customer service along with the products are the reasons why Citibank is able to keep its recognition and loyalty throughout the world. Citibank used many technologies to get more clients satisfied such as ATM’s, telephone lines, and the paperless system of payments which is a