Pest Anaylsis Nordea
Pest Analysis on Nordea
Political
1. Legislation/law for information systems
2. Effectiveness of law v internet
3. Monopoly legislation
4. Trading from investors Economical
1. Economy of information systems in Scandinavia
2. Economical trends
3. Trade and industry
4. Competition of cost outside Europe
Social
1. Wide demographic
2. Applying decent pricing to customer’s needs
3. Innovative idea to suite customer trends
4. Security Technical
1. Using different sites to their advantage
2. Challenges of integrated systems
3. Innovative ideas
4. Competitors
Political –
‘Political systems can exert significant pressure on the development and use of information systems in organisations’ (Beynon-Davies, 2004). This normally occurs through to requirements of particular aspects of national and super-national legislation. They generally require an organisation to behave in a certain way. (Johansson, 2009)
One issue that is considered for Nordea’s e-business system is that it raises challenging questions about the effectiveness of law, which in the non-electronic world has evolved over centuries to reach its current form. This idea goes on to suggest that although the goals of low remain the same when applied to e-business, it often falls short of meeting these goals. ‘Hence new forms of legislation designed to cope with the practicalities of e-business are inevitable’ (Beynon-Davies, 2004).
‘Nordea is known as the biggest Nordic bank by market value’ (Reuters, 2010)
Nordea Banks have outperformed banks everywhere else in Europe, thanks to a strong capital level and their ongoing strong performance.
Regarding Monopoly legislation, as Nordea are gradually taking all customers in Nordic bank region, they need to ensure that they don’t become accused of violating its dominant position in the bank market by leveraging it to move into other e-business markets at the expense of its competitors. (Jelassi & Enders, 2008) Also if political and social
Political
1. Legislation/law for information systems
2. Effectiveness of law v internet
3. Monopoly legislation
4. Trading from investors Economical
1. Economy of information systems in Scandinavia
2. Economical trends
3. Trade and industry
4. Competition of cost outside Europe
Social
1. Wide demographic
2. Applying decent pricing to customer’s needs
3. Innovative idea to suite customer trends
4. Security Technical
1. Using different sites to their advantage
2. Challenges of integrated systems
3. Innovative ideas
4. Competitors
Political –
‘Political systems can exert significant pressure on the development and use of information systems in organisations’ (Beynon-Davies, 2004). This normally occurs through to requirements of particular aspects of national and super-national legislation. They generally require an organisation to behave in a certain way. (Johansson, 2009)
One issue that is considered for Nordea’s e-business system is that it raises challenging questions about the effectiveness of law, which in the non-electronic world has evolved over centuries to reach its current form. This idea goes on to suggest that although the goals of low remain the same when applied to e-business, it often falls short of meeting these goals. ‘Hence new forms of legislation designed to cope with the practicalities of e-business are inevitable’ (Beynon-Davies, 2004).
‘Nordea is known as the biggest Nordic bank by market value’ (Reuters, 2010)
Nordea Banks have outperformed banks everywhere else in Europe, thanks to a strong capital level and their ongoing strong performance.
Regarding Monopoly legislation, as Nordea are gradually taking all customers in Nordic bank region, they need to ensure that they don’t become accused of violating its dominant position in the bank market by leveraging it to move into other e-business markets at the expense of its competitors. (Jelassi & Enders, 2008) Also if political and social
Bibliography: What is scaring banks. By: Johansson, Martin, International Financial Law Review, 02626969, May2009, Vol. 28, Issue 5 Enders, A Deitel, Deitel, Steinbuhler (2000) e-Business & e-commerce for Managers. New Jersey: Prentice Hall Chaffey, D Afuah, A & Tucci C,L. (2003) Internet. Business models and strategies. Test and Cases. Second Edition. McGraw-Hill Higher Education. P.207 Amor, D Daniels, C.N (1994) Information Technology. The Management Challenge. The Economist Intelligence Unit Hughes, B Beynon-Davies, P. (2004) E-business. Palgrave Macmillan. P.263 -274 Adam, N.R., Dogramaci, O., Gangopadhyay, A., and Yesha, Y Pearson - (2009) Learning Objetives. Pearsons Online, [assessed 07/11/2010] The Swedish Wire – (2010) Finland’s biggest bank profit nearly doubled, Online [Assessed 06/11/2010] Reuteres (2010), UPDATE 3-Nordea Q3 profit tops forecasts, shares jump, Online [Assessed 07/11/2010] Employees Benfits (2010) Nordea Bank commended for health and wellbeing, Online, [Assessed 06/11/2010]