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Chemistry

Autor:   •  January 7, 2019  •  1,136 Words (5 Pages)  •  4 Views

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Part 4: Strategy Building: Short-term and Long-term

- Short-term Strategy

Two major goals have been identified for the short-term development of ABC, which include attaining 5% market share of Indian banking industry in 5 years, and becoming the top 10 best well known foreign banks in India. In hopes of realizing them, three corresponding actions will be carried out in the years. Considering the demand side, we expect to open 50 branches and 500 ATMs in emerging cities and under-banked regions, mostly in northeast India, thus addressing the unfulfilled need for banking services in these areas. Infrastructure aside, attracting and retaining our customers are of equal importance, so we would focus on CRM by making use of our improved technological ability to build an efficient and accurate customer database to keep track of our customers, as well as developing a well-trained sales force, which would compose of local workers, thus providing employment opportunities and creating a good corporate image. To improve the difficulty of our entry , we would also form strategic alliance with Indian banks. By combining their extensive knowledge in the local market with our banking expertise and financial resources, it would be easier to build and extensive business network, both in terms of retail banking and corporate banking.

- Long-term Strategy

The long-term strategy is the extension in volume and depth of short-term, which will enhance the coverage ratio, localization extent and diversification of customers and products. After getting familiar with local regulation and operation style, ABC can expatriate to more Indian cities and set branches at a 5% annual increase rate. In order to better adapt to local environment, we recommend ABC to acquire suitable local bank and absorb its management experience with its strong capacity in asset. In addition, because ABC has created and managed many special product fulfilling unique needs of farmers and SMEs, some of them can be introduced to India after adaptation. In this process, it can provide exchange service to Chinese invested company because of advantageous customer basis. Also, with further cooperation with local government, ABC can try to issue loan product supporting infrastructure construction in india.

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