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Evaluation and Control Assessment
Citibank could use the sales report, the profit of margin. Also, Citibank can set the survey to gain customers’ feedback, and focused on the public reputation.
Summary
Citibank’s E-business strategic was a good strategic. It helps Citibank to catch the new market. From short term, this strategic might cost many resources. However, from long term it will help company gain more benefit. wedding dresses Assessing the EXTERNAL ENVIRONMENT. Threat of substitute products. The threat of substitute products was weak. Banking industry had been necessary for all economic. It was hard to find substitute products for it.
Rivalry among competing firms. The rivalry among competing firms was strong. The main competition was between large banks, such as Deutsche Bank and Citibank. wedding gowns Also, other banks were interested in invest E-business in the future. Key Success Factors.
All banks needed to be able to satisfy customers’ needs. Improve efficiency, diverse services, and effective investment. Also, banks needed to increase their profit margin. Using the industry life cycle model. Banking industry was between growth and maturity stage. Banking had a long life cycle. goddess wedding dresses Due to the changes of the economic, banks could always find different market. The E-business was in growth industry. It needed banks to put more resources and also customers’ needs of E-business were growing.
Technology was the reason that customers’ needs of E-business were growing. Corporate customers were expanding their business globally and become e-enable. Also, technology helps banks to satisfy customers’ needs. Cocktail Dresses In addition, from long term, technology also helped banks to save costs. Competition
The main competitors of Citibank were other large banks, such as Deutsche Bank, ABN AMRO. Deutsche Bank had been investing many resources in the E-business. It builds a global payment system which can accommodate many currencies, languages, and local business practices through its e-bills service. designer wedding dresses Also, other organization had partner relationship to offer the global business solutions.
Citibank had a good reputation and better services. According to the case, most Many Fortune 500 companies would love to use Citibank when making international e-payments. Competitor’s key strengths were they had high investment, good reputation and different services and other partner relationships. Weaknesses were fewer services than Citibank.