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December 2019

SWOT Analysis of Banking
BusinessMarketingSWOT & PESTLE 

Banking SWOT | SWOT Analysis of Banking

by Shamsul December 28, 2019

Banking is a diversified domain that is considered as an integral part of any financial system. The industry is growing at a significant pace as it involves large business activities. This channel is about protecting money owned by individuals and enterprises. The banking sector also offers money with reasonable profits as earnings in an efficient manner. It is basically a network of institutions that offer multi-dimensional services to all customers. The basic services are deposits, insurance, loaning accounts, debit, and credit cards.

Now, we will see the SWOT Analysis of Banking:

 

Banking SWOT | SWOT Analysis of Banking

 Strengths  

 The Ancient History of Banking:

 The banking concept was first introduced around 200 BC. Later on, in 14th-century evolution resulted in a more developed concept. The first permanent banknote issued in the year 1695. Before the idea of banking launched, trades were doing with the help of barter and exchange system. With the availability of bank channels, access to loans is a lot easier now. Moreover, people can also take advantage of services like credit cards, savings, and bonds.

 A Bridge between Economy and Growth:

 Banking is considered as one of the pillars of economic growth. The concept of demand and supply is directly connected with growth. Financial trade, stability, and security are improved with the financial services concept. It is a channel that has contributed a lot in the strengthening of gross domestic product. Worldwide, banking institutions have provided employment opportunities to the communities. Moreover, there is a greater role played by banks in reducing poverty all over the world.

Recovery Option In Case Of Loss:

 Loss and profit is a part of any economy and business. Banks are sources of help in case of any financial loss or disaster. Banking domain offers various types of loans to individuals and enterprises at the same time. A financial service is a channel that is accessible to everyone when needed. The support given by banks can be of short and long term. Banks can help establish businesses right from scratch.

Multi-Dimensional Financial Services:

Multi-dimensional financial services offered by the banks. These services mostly concerned with individual and business banking. From a bank, loans and investments can be obtained at any time. More importantly, banks allow customers to obtain a loan at predefined terms and conditions. Individuals and business enterprises can also take insurance policies from banks.

Digitalizing Banking Services:

The whole financial model is now based on digital services. The concept of digitalized banking has made it easier for customers. Clients can use laptops, mobile phones, computers, and other gadgets to access online accounts. Similarly, users can now pay, deposit and apply using online portals. Most noteworthy, these links have revitalized the whole concept of branch banking. The authorities can operate financial services electronically with more secure and safe options.

More Diversified Role:

The domain of banking is not just restricted to services like debt credit and loans. Banks are now termed as a diversified platform that can regulate compliance as well. These financial institutions are not capable of improving asset quality. There is a huge product line with a variety of diversified services offered by investment banks. In order to change smaller business models into larger enterprises, financial services like banks can provide assistance.

 

Banking SWOT | SWOT Analysis of Banking

Weaknesses

Communication between Banking Networks

It is dependent upon financial parameters. These parameters can vary a lot. It is one of the vulnerable industries affected by the global economy. Once there is a recession in the global market, it can have an effect on the overall baking domain. Marketing fluctuation and exchange rates are two variables in economics that can change financial scenarios rapidly.

Conventional Banking Methodologies:

One of the greatest weaknesses of the banking industry is conventional methods. These methodologies make this particular industry vulnerable. Likewise, the infrastructure used by financial channels is not reliable. There can be potential threats in terms of sensitive information and their leakage. Cash flows can involve a high amount of risk.

Non-Performing Assets:

Non-performing asset is a basic problem that the banking domain had to face. As a result, banks offer the lowest return rates to the customers. The impact of NPA’s can also be seen on advances as well. These factors definitely shatter the confidence level of the customers. With the decreasing interest rates on deposits, customers often withdraw money from the banks. It can decrease overall deposit reserves.

Limited Access to Less-Privileged Areas:

When it comes to the banking network, it still has limited in urban areas. Less privilege areas suffer a lot with the unavailability of a financial system. There could be multiple reasons behind that. Banks are more focused on deposits and loans. However, more focus should be towards the facilities provided to the customers.  

Banking SWOT | SWOT Analysis of Banking

Opportunities

Business Operations in Rural Areas:

First of all, there is always a margin of expanding business. Furthermore, the banking domain can expend its wings and expand services in rural areas. The concept of organized services can be fulfilled with the introduction of banking in less developed areas. By overcoming this weakness, this sector can gain more stability.

Timely Demographical Changes

Customer demands can vary a lot with demographic changes. The banking sector should keep up the pace with these changes. These channels can keep an eye on requirements. Customers’ needs may not always be the same. In that case, banks can provide an equal opportunity for every customer. Moreover, the industry introduced new ideas with custom-service options.

Enhance IT Infrastructure:

Moreover, banks can offer secure cash flow to customers with IT infrastructure. Above all, there is always a margin of improvement in the field of IT. More convenient options can be provided with online portals and mobile applications.

Connection with Influencers:

Banks can develop connections with influencers. One of the advantages of the goodwill ambassadors is that they can make service sectors expand in fragmented markets.

 

Banking SWOT | SWOT Analysis of Banking

Threat

Economic Decline:

Economic decline is a potential threat to the banking industry. This decline can have a direct influence on the financial sector. When there is a recession, it can make smaller and bigger enterprises suffer. Economic crises can collapse the overall financial segments.  

Fluctuations in Currencies:

For economic growth currency and its stability is very important. International markets greatly influenced by currency values thus the fluctuations in currencies have a negative impact on banking channels. It is one of the major threats that can cause a great deal of loss to this sector.  

Alternative Services:

There are alternative services available in the market. Smaller financial institutions can also offer attractive services to the unattended areas The lower operational cost of these services can be a dominating factor. Examples of alternatives are insurance & mutual fund companies.

 

Read More on Swat Analysis:

 

SWOT of Amazon | Amazon SWOT Analysis

SWOT Analysis of Alibaba | SWOT Analysis

December 28, 2019 7 comments
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Creat A Brand
BusinessMarketing

How to Create a Brand That Would Last For a Very Long Time

by Shamsul December 26, 2019

How to Create a Brand That Would Last For a Very Long Time

 

No matter if you are a small entrepreneur working from your garage or a very big player in the business world; you do need to build a brand around your product to be successful in your business. Lots of people do find themselves at a loss when it comes to creating a brand.

Why Product Brands Are Important?

How many of you can associate with the logo of Nike, Burger King, Lifestyle, McDonald, KFC, etc? These respective companies have created such a brand around their product that people can recognize the items by their logo. By seeing these brands, people do tend to get an assurance of the quality, utility, appeal and other attributes. This keeps a very helps positive image in your consumers who in turn refer others to try your product which leads to an increase in footfalls, purchases and ultimately revenue of a company.

Initial Steps in Creating a Brand:

Ideally, the brand should incorporate the spark of genius that you felt when you were contemplating the nature of your business and the path it should take in the future. For instance, if you are building a food delivery service, then your product is all about the service that you provide which is convenience, quality assurance, and timely delivery. A customer should ideally have a vision of these when he purchases your brand. Thus your brand is all about the images and vision created by the consumer’s mind about the attributes of your product

Even people can be their own Brand. There is a concept called “Brand You” which tells that everyone is a brand. The way you behave deals with others; however, many thought on the mention of your name adds to your personal product.

Whether you are creating a brand around your services, product or even yourself, the first and foremost thing to take care of is communication. Making the right impression is very important and this can be done by sending the right messages to your potential customer promptly. For instance, Nike has used its logo, advertisement, and all other communication to convey to the people that it’s a product for young energetic people. Its logo which is just a black tick mark is simple, elegant, unique and easy to remember along with conveying what that particular brand stands for

 

Tips

Three Tips for Creating Brand That Would Last For a Very Long Time

1. Colour of the Product Logo:-

Colour is one of the most important aspects of the brand with more than ninety percent of people giving high importance to it. People associate specific emotion to specific colors like red invokes passion, purple royalty, white peace and so on. These associations do change across borders, culture and time. For instance, the grocery market uses green, restaurants use red, etc. You should think which col encompasses your brand’s core offering.

2. Social Media:-

Social Media is good for the promotion of a product as people are more receptive. Right Message can help the trade name to engrain in mind of customers who in turn becomes brand ambassador as they promote to their friends and followers. As such choose social media well. An image of the product should use Instagram and other social media channels including LinkedIn and so on.

Personality:-

A product should have a personality that people can relate to.  It increases brand equity and creates a nostalgic feeling in the consumer’s minds. For instance, a company like Harley Davidson should show manliness and thirst of adventure in its communication to engage and reach its target audience

 

Read More:

SWOT of American Express | American Express SWOT Analysis

Sixteen Vital Characteristics of Any Company

December 26, 2019 47 comments
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personal success
BusinessManagementPersonal GrowthTrending

How to Get Personal Success or Be Successful in Life

by Shamsul December 22, 2019

 

How to Get Personal Success or Be Successful in Life

 

The fact can hardly be denied that the secret to personal success remains a mystery to many people in the world. They try to unfold this mystery but with no luck.

It might come as a surprise to you that there are four basic principles if you wish to walk on the personal success path.

 

4 Pillars of Success:

So Personal success might follow anyone who’s willing to focus on these 4 pillars of success it is a system that is used by many successful personalities. I am also practicing these pillars of success.

 

Aim or Goal: Clearly define your Objective that what do you want to achieve?

Vision: See it clearly and wisely.

Action: Note down a plan and aggressively follow it.

Clarity: Focus on maintaining and correlation to your plan.

 

 

Aim or Goal:

When you talk about Personal Success your intention is the first thing that should be clear and defined to you. You should know what exactly you want to achieve and why. Thinking about the things that you don’t want to do isn’t taking you anywhere near the peak.

Try to be focused and clear-headed while discovering your intent and setting your goal. You should have a deeper knowledge of the roads you are about to take.

Prod your analytic thinking and scrutinize the risks factors you might face before starting your journey of achievement. Having a deeper knowledge of the desired target will make you feel confident about your efforts. Lack of knowledge about the goal will cost you time and energy and frustration will be the ultimate result.

 

Vision:

Establish your vision with care. Broad and bright vision is essential for Personal Success. It’s only through a vision that you can turn your imagination into reality. The broader the vision is, the closer the success is. Your vision controls your actions. You succeed in your head before winning the race and you lose in your head long before trying. If you think you will lose, there is no use of trying. You need to exclude any chances of defeat from your thought process if you intend to be successful. You need to be an optimist and think positive because positive thinking and a strong belief in your efforts coupled with determination will ultimately lead you to the road of Personal Success.

 

Actions to Achieve the Goal:

It’s time to develop a well-informed strategy first and get on the road of Personal Success. You need to chalk out your plan of action quite meticulously, paying heed to every single detail. It should be as clear as a detailed map for reaching a particular destination or a well drawn-out blueprint of a building.

You cannot drive to a specific location without having described directions. Similarly, engineers will need a well-planned draft to start a building. Thus, developing a systematic sense of direction with a focused mind holds paramount importance in taking accurate action to achieve the objective.

 

Clarity:

Clarity is the fourth pillar of Personal Success. You can’t start a journey without knowing where exactly you want to go. You must know to explore beforehand all the reasons why you want to do this and all the resources on how you want to do this. Could you embark upon a journey without a clear map of instructions or could you imagine using a new or complex device without its user’s guide?

Setting out on a clueless journey might end up disastrously and using a machine without it’s manual could be a waste of time and effort. It could also damage the machine. A well-designed map makes the journey smooth and easier, similarly, a well-thought-out plan guarantees Personal Success. Hence, clarity in intent, vision, and action is crucial for a successful mission.

 

Success

Get Great Personal Success:

Who in the world doesn’t wish to wear the crown of Personal Success? A decent profession that’s your passion, a sound financial ground and a life without care is everyone’s dream. Everyone wants to prove himself to the world, earn a good name by giving his best to the people around him, by influencing their lives in some positive ways and thus giving meaning to his own existence. Everyone wishes to be remembered long after he’s gone.

But I have learned over the time that success depends largely upon chasing the right choice at the right time. “Time is of the essence”. I must also admit that I have developed a deeper insight into the simplicity of the great realities and truths of life.

By following these calculations you would be able to harness your energies and steer your life to the top.

 

The Objective We All Share:

Our training, intellectual capabilities or skills, none of these alone play any decisive role to ensure our Personal Success. And if you believe, this is the fortunate part. Neither is it our family, close relations nor friends behind any of our remarkable deeds. On the contrary, it’s our strength to cope up with the worst and give our best under strain and stress. It’s our power of adaptability and flexibility that enables us to adjust to the different situations in our lives.

 

Strictly follow the 4 pillars of Success:

Here are the four definite codes to get Personal Success.

 

  • Be clear-headed and develop a sense of right direction.
  • Fix time limits and prepare well to meet those limits.
  • Chalk out an action plan and follow it steadily.
  • Throw out from the head every single thought of retreat or failure. Your head is the place where success or failure starts.

 

Words from the Veterans on How to get personal Success:

Do you think you would be able to experience everything in the world? Or would it be wise enough to even think about and try this all by yourself when you have the medium to learn about it all? That medium is our ancestors. That medium is our past.

But tragically enough, men are stubborn and foolish to prefer to learn through experience, though on the cost of their precious time and lives even rather than turning to observation.

So, in your one lifetime, you should aim to make the best use of all the knowledge left to the world by the people before you. Learn from their mistakes instead of committing them yourself and put your endeavors to promote noble causes. Use the ladder you already have instead of making one for you right from the scratch.

For example, if you wish to write a book you should definitely take a good look at the works of bestselling authors and build a series of guidelines for you to achieve Personal Success.

Personal Success

Sense of Accomplishment Begets Confidence for Achieving Goals: 

Once you achieve a goal, it sparks your spirit and strengthens your mind to repeat the achievement. This repetition marks a sequence, a sequence of encouraging moments. These small steps of victory spin your life for good reason. This positive shift leads you to more triumphs indeed and suddenly you find your life on the right track.

Thus, bagging trophies in one field is likely to make you feel more confident about another as well.

It must encourage you to achieve more. This sense of accomplishment can empower you with a strong belief in success in personal life.

Once you make a pattern by achieving your goals one after the other, you realize what true Personal Success is. The reality of the dictum, the more you dream, the more you achieve, dawns on you. If you learn to channel your energy with a steady flow and harmonious pace, the outcome will simply be a success. So following each of the four tiers of success boosts your belief in the pattern and nothing can stop you from reaching the destination of Personal Success.

 

Limitless Potential:

Doubt not that you are what you think you are. You can do and achieve anything that you wish and struggle for. You have treasures of dormant potential locked away deep inside yourself. All you have to do is to explore and activate it. Once you make up your mind to do it by pushing away imposed boundaries on yourself and put your soul in it, you will surely be rewarded with the ultimate personal success.

 

December 22, 2019 21 comments
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Change Management?
BusinessManagementMarketing

What is Change Management?

by Shamsul December 21, 2019

 

What is Change Management?

 The definition of change management is hard to come by without relating two other concepts of project management and change itself. Both of these two techniques are essential to increase the chances of a steady pace of Improvement and a substantial growth rate.  The strategic process of change management helps organizations to achieve long term goals. They can adopt a flexible and adaptable attitude towards the complicated process of change. A powerful method facilitates organizations with comprehensive techniques to proceed smoothly from the present state towards the required state.

Three Categories of Organizational Change:

Organizations can survive this age of cut-throat competition if only they efficiently respond and embrace the growing need for transition across the world. The change management appears on the scene when organizations decide to readjust and restructure their objectives, aims, and goals to shift the flow of business from less profitable corners of the globe to more profitable ones. It gears up the substantial Organizational change management and its solutions

Systematic Chang:

When an organization evolves the current system or a restructured and new system replaces the previous system by introducing new roles, assignments, duties, and responsibilities.

Operational Change

When organizations adopt a new process and discard the previous one for better functioning and effective efficiency.  For example, shifting from a manual system to a completely computerized process.

Cultural Change:

When the current company culture stops producing effective results, the organizations present a different environment and work culture by deciding to introduce particular rules to achieve the goal of exceptional and efficient performance.

Organizational Change Management And Its Solutions:

Change management cannot deliver expected output when the projects pay attention only to the technical side of it and ignore the reaction of people and how it affects them. Let’s consider an example of shifting a system from manual to an automated one. If the administration plans to adopt an automated system for more effective results, the fear of job insecurities among the employees is very probable to rise very high. This situation might create fierce resistance among the worker. The process of development is very likely to fail because of the antagonistic attitude of the working staff.

To achieve desired results successfully and cooperation of the team, a change management plan should be considerate enough. It helps to provide employees with job security and remove any of their fears about an uncertain future. The process should be sensitive to the following hurdles.

Stakeholder Engagement Challenge:

The engagement with stakeholders plays a key role in the change management plan. By adjusting the objectives and goals of the change management according to the requirements. That was set by the investors from the beginning can maximize their engagement in the plan and curb their insecurities.

Resource Challenge:

The change management plan is good for employes also along with the technical side. A change management plan can escalate the fear of losing jobs and status among the current team. Such challenges can be addressed through instructions, communication, proper guidance and PEM (people, Emotion and Motivation mechanism).

Organizational Goal Challenge:

Change cannot even start its journey unless the high-level administration is supportive. The high ranks in the organization should adopt and embrace this process of transformation to let the working plan thrive and flourish. Without support from the highest level, no change plan is possible.

Skillset Challenge:

Change management is nothing but a potential revolution. An evolution in the work culture, processes, visions, goals, missions and objectives. Thus, It can be hard to train the existing workforce about new techniques, tools, devices, and systems to manage and implement new processes. It’s observed that oftentimes that the performance level of the employees goes down. It is due to when they struggle to make a transition from the existing system to a new one.

This issue can be resolved to device a comprehensive training roadmap by leadership. It is not typical and that can address individual problems in detail.

 

 

December 21, 2019 7 comments
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Time Management
BusinessManagementMarketing

What is Time Management?

by Shamsul December 21, 2019

 

What is Time Management?

Working effectively to enhance productivity

 

Why does it feel like we live in a time squeezed zone? We never seem to have enough time to do all we want. Things are always falling behind the schedule. On the other hand, some people achieve more than others. I wonder how they manage to do better with just the capacity of 24 hour day as everyone else gets the same amount of time. It is noteworthy that they understand Time Management skills.

The Secret of Time Management:

If you learn to manage your time skillfully, you can be one of the highest achievers. Following time-bound strategies can help you perform better and in a more productive way. You would be able to survive pressures and strain.

 

Effective time management skill calls for a significant evolution in thinking pattern. Instead of counting the number of pursuits, you need to focus on results.

 

Trying to complete various assignments in one single day causes one to shatter the effectiveness of focus. In a frenzy of activities and with divided attention hence, you tend to achieve nothing at all. Good time management techniques allow you to set focus and to achieve more in a short time.

 

Explanation of Time Management:

It explains the process of assessment in advance how much time you plan to devote to a particular activity. Investing your valuable time might look absurd but believe me you are never going to regret it. Moreover, it can prove very useful to you:

 

  • A higher rate of productivity
  • A better professional standing
  • Low level of pressure
  • More chances for advancement
  • A large number of opportunities to materialize a promising career goals

 

If you do not learn to manage time skillfully, you might have to face some unpleasant results.

 

  • Unfulfilled deadlines
  • heavy workflow
  • unsatisfactory quality of work
  • A weak professional repute and a non-promising career
  • Heightened levels of stress

 

These time management strategies can turn out very fruitful for you now and later in your life as well.

 

Read More:

What is Marketing Resource Management?

December 21, 2019 8 comments
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