English_Master March 19, 2016 No Comments
BANKING — EXCITING GROWTH AVENUES! It is a common assumption that the success of an organization depends on the execution of strategy. Empirically it has been proved that an equally, if not more, important factor is that the organization is in the right market or geography at the right time. Changes in the environment in fact play a vital role in the success or failure of an organization. Change is continuous and affects organizations in vari­ous ways. Changes usually take the form of trends that affect economic markets substantially. Organizations, therefore, need to understand these trends and how they impact the econo­mies in which they operate. These studies are best analysed and understood at the industry level. The banking industry in India is no exception. This article looks at the changes in the business envi­ronment and the emerging trends discernible as a consequence and studies some strategies necessary to succeed in that envi­ronment as they relate to the Indian banking industry. The discussion covers the following: Factors that have set in force these trends Changes actually witnessed in the new environment Success strategies needed in banking to cope with these trends Four factors Four factors are behind the changes seen in the environment – globalization; liberalization; customers; technology R....
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