Answer to Question #245486 in Management for young pablo

Question

discuss driving force that would give standard bank a competitive edge in the market

Answer 1

The driving forces for standard banks include

1. Diversification of market location - the banks have opened their branches in many different countries across the world which helps in spreading risks such as political and economic risks.

2. Technology - the use of new technologies in banking sectors such as online banking also enables the standard bank to gain a competitive advantage

3. Heritage of colonial routes - the bank uses colonial heritage routes to predict and adopt all market changes in different countries.

4. Standard banks also involves in designing the whole future market and currency to lower the rivalry