Answer to Question #234281 in Management for Amanda

Question

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

Answer 1

Answer

The driving force that would give standard Bank a competitive advantage is as follows:

  Diversification of market locations. Operating in different countries will help in spreading risks e.g political risks. The second driving force is colonial route heritage. The bank uses this to have an international model of development which helps in predicting and adopting changes in the market. 

  Besides the third driving force is evolvement into the future design of the whole market and currency. Fourth, market diversification. The bank should invest in products and nonbanking related.

Lastly is technology. The bank should encompass new technologies in the banking sector.