Impact Of The Internet On The Competitive Landscape Of Corporate Banking

1700 WordsFeb 9, 20157 Pages
1. Impact of the internet on the competitive landscape of Corporate Banking ? Michael E. Porter introduced “Porter’s five forces”, this model identifies five competitive forces that shape every industry and helps to determine an industry’s weaknesses and strengths. This model was design to develop a competitive advantage over rival firms in the industry where the firm operates. This five forces will help in Citibank’s E-strategy. a. Threats of New Entrants: b. Power of Suppliers: c. Power of Buyers: d. Availability of Substitutes: e. Competitive Rivalry: 2. Citibank done to differentiate its e-business products from those of its Competitors ? Citibank has differentiated its e-business product offering by emphasizing on customer service versus the price. By focusing on response time, technology, and support Citibank built customer satisfaction and confidence in the way business was conducted. Through the use of customer service focused offerings such as telephone hotlines, relationship managers, product consultants, and continuous investment in technology Citibank set a standard for customer service. With a spotlight on providing customers a paperless system of collection and payment processes Citibank was able to secure all business transactions from one customer, equaling a full relationship between bank and client. As cliental shifted their focus to e-business, Citibank had too as well. 3. What can Citibank do to create competitive advantages?

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