Answer to Question #233005 in Management for Cody

Question

Discuss driving force that would give Standard Bank a competitive edge in the market

Answer 1

The driving force are as follows:

First, Diversification of market locations.Operating in different countries will help in spreading of risks e.g political risks.

Second,Colonial route heritage. The bank uses this to have international model of development which helps in predicting and adopting changes in the market.

Third, evolvement into future design of the whole market and currency.

Fourth,market diversification. The bank should venture into products and non banking related.

Lastly, technology. The bank should embrace new technologies in the banking sector.