Introduction
A number of the students in the class work in the banking industry and as such I have chosen to focus on the this industry for this discussion. I will analyses each of Porter's five basic forces of competition as described in Capon's book "Understanding Organisational Context" [1, pages 363 - 368] and apply these to the banking industry.
Over the last decade the way we bank has dramatically changed as banks move from a "bricks and mortar" operation to a "virtual on-line operation". Whilst most banks will probably never get rid of all their "brick and mortar" operations, there are some that have successfully started up with no shopfronts and yet they are successful. Banking is big business, everywhere in the world they are big and powerful, but as Keen observes "bank offers basically the same product to the same customer base"[2]. So what makes a consumer choose one bank over another? Not all banks make huge profits but banks position themselves to attract customers......
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Approximate Pages: 5 (260 words per double-spaced page) |