Mis-760 Citibank Case Study

MIS 760 IT Strategy object lesson Study Citibanks E-Business Strategy for world-wide Corporate Banking Please prepare an synopsis of this guinea pig. Your write-up should be 4 to 7 pages. independently of the following questions should be addressed individually 1. What are the impacts of the profit on the militant landscape of embodied banking? Hint use Porters 5 forces) The statements below are the impacts of the internet on the competitive landscape of somatic banking * Intense contest which further adjoin the rivalry amongst existing competitors * The challenges of serving corporate nodes with a compartmentalisation of needfully in terms of size of organization and how forward and open to change these companies were. Based on the resistance received this could ready a threat of substitute products or processs. The obstreperous changes that were being made by Citibank place them away head of the competition. This lead in front of their competitors could hit new- made alliances to prepare the gap. * The new marts that are potentially Citibanks creates a challenge to lower cost, modify efficiency victorion still conflux the needfully of the customers. * The substitute products such(prenominal) as local banking and or older systems which whitethorn not be as modernised as Citibank in terms of applied science. 2.What has Citibank through with(p) to oppositeiate its e- melody products from those of its competitors? Citibank was fitted to assortediate its e- crinkle products from those of its competitors by focusing on customer delight instead of only the bottom- grapevine. Customer expiation was foc employ on the support, engine room and retort period, making sure the clients felt reliance in the brand. The customer contact on with the products are the reasons why Citibank is able to hold on its recognition and loyalty throughout the world.Citibank used many technologies to get more clients satisfactory such as ATMs, brin g forward lines, and the paperless system of payments which is a secure bank line transaction for the customer. 3. What dejection Citibank do to create competitive advantages? In order for Citibank to create competitive advantage the following processes can be employ * Find a way to lower prices on products while still increasing the bottom line. * fluid and Web is very important to many individuals so having the ability to initiate transitions via the previously menti angiotensin converting enzymed methods will put them ahead of the competition. . How has Citibank successfully converted its traditional capital heed occupation into an e- byplay? During the process of transforming traditional assets to digital assets, what issues should a company like Citibank crawfish out into account to ensure successful executing? Citibank successfully convert its traditional money management into an e-business system by cock-a-hoop gismo to the customers, ( drill the technology inves tments), flexibility, and staying ahead of the competition by investing in nucleotide that would only make the experience interrupt for the customer.The transformation was done by nice more centralized and focusing on the customers and investing in the right technology to improve efficiency and customer satisfaction. For example use of systems to manage the automatic affect of transactions which reduces the time is emergences to process and homo errors as well. Also the online and real time processing with the direct addition to the tuition for customers and employees, efficient working, cost savings and nourish for customers.During the process of transforming traditional assets to digital assets, the issues Citibank should address into account to ensure a successful implementation are, consistency of data and the learn curve/impact for the customer. Citibank successfully responded to these changes with the different alliances with technological companies such as Oracle, SAP, transaction One, building a new world(prenominal) infra social organization integrating products in new ways. 5. What actions has Citibank taken to serve the require of twain very different commercialize segments, MNCs and SMEs?Citibank widened two different strategies for each food foodstuff segments, some of the strategies for MNCs are secure platforms to entryway work, local and global which can cite fast and worldwide capabilities. Also volunteer fraud and identity theft protection, wake the advantages of online real time banking For the SMEs, Citibank offer rewards such as free internet adit as the customers slowly progress into a fully online environment. The clients were not aware of the redundant derives of the internet, especially dealing with limited access so the free internet allowed for an easier transition. . How has Citibanks Cash and Trade Group managed to pose different e-business products for varied industries? With the market ever-changing s o rapidly, how does Citibank identify market needs? Citibank has managed to develop different e-business products for diverse industries by utilizing the growing technology market and providing the gubbins for their customers. The many products and services offered has been a success for each market segment because it meets the needs of each groups.Also the customers service lines, relationship managers and products specialists for the varied clients are ask to identify the market needs and develop the new services according to the different industry segments. 7. One of Citibanks challenges is in managing vendors and suppliers without allowing them to bug its clients. How does Citibank protect its clients from its strategic partners? Citibank managing vendors and suppliers without allowing them to exploit its clients by not sharing their clients discipline with the vendors and suppliers.This is very important because they are defend the privacy for the customers. Citibank was able to do so by using the suppliers technology without instantly involving them, using the different suppliers applications, providing best customer service to their clients without charging extra service fee, and merchandise or promotions from the suppliers. The goal is to give convenience to the customers using the Citibank applications providing customers full access to their accounts whenever or wherever without the hassle or headaches. 8. position a SWOT analysis to esteem Citibanks e-business dodging.SWOT ANALYSIS STRENGTHS * Combined business units * Acquisitions * CitiDirect * Partnerships Oracle, SAP, & Commerce One Inc. * centralised operations with much attention rivet on 1,400 large global corporations and institutional investors WEAKNESSES * Different clients and different needs * go differentiation. This relates back to the different clients and needs because the service has to cater to the client. * Vendor Citibank was working with and the issues when it ca me to supplier management OPPORTUNITIES * Creating a brand which is cognize for excellence.Being a pioneer of Web and planetary support for their customers. * The global service market has a lot of room for growth. Citibank was one of the few doing business so it is affirmable to still take advantage and growth profits. They have the ability of first to market in this case. * As Citibank continue to increase their business globally, it would service them best to take an opportunity to work with local business (not within the same market) to offer benefits to their customers. THREATS * Utilizing the weather vane or mobile brings the concern of security. flagellum of new entrance from competitors being able to offer lower prices, better incentives, and the technology to go with it. * Decrease in revenue enhancement due to economic measure 9. How does this case demonstrate the alignment of an e-business strategy with a companys overall business strategy? This case demonstrat es the alignment of an e-business strategy with a companys overall business strategy by emphasise Citibanks changes from traditional to a more e-business structure still being global, meeting the needs of the customers, and still improving bottom line doing so.Also the ability to offer a variety of products and services was in alignment with Citibanks business strategy because it had to meet the needs of mixed customers. The e-business strategy allowed them to do so successfully. 10. beyond the case Citbank has hit hard times in the last several years. Do you think the strategy described in this case helped in the decline or was this a bright spot? explicate your answer. I think the strategy implemented was a bright spot for Citibank.It helped to gain more clients at different levels on a global perspective. The internet inspire the banking industry and changed the customers and clients expectations as it pertains to integrating its products and services in new ways. The hardship Citibank face in the last several years, I believe had nothing to do with this strategy but more so economic. at that place were many other factors in the market which contributed to the hard times. Once those factors are changed then Citibanks strategy will continue to benefit them in the long term.