Answer to Question #238954 in Management for suvi

Question

Discuss driving force that would give Standard Bank a competitive edge in the market.(25)

Answer 1

i. Diversification of its market locations globally. Standard bank operates in different countries and this will help it in spreading risks that may arise such political risks. This indeed gives the bank a competitive advantage over other banks.

ii. The standard bank uses international model of development that has been there for long to help in predicting any changes in the banking sector and adopting those changes.

iii. Market diversification has enabled the standard bank to have a huge competitive advantage over its competitors. This has enabled it to venture into various products and other non banking activities which gives it an upper hand.

iv. The bank leverages on technology. The bank embrace the inventions and new technologies in the banking sector to help it remain in a trajectory mode.