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Short Business Policy Essay Example
The primary objective of this study is to identify and evaluate the new and innovative strategies employed by the Abu Dhabi Commercial Bank. The study explored various competitive market structure components, such as market growth, as well as barriers to entry and their potential influence on overall organizational performance. The various theoretical frameworks from a number of disciplines including marketing, strategic management, and organizational economics will be adopted. The study will investigate the marketing opportunities and strategies that are implemented by numerous organizations using the Abu Dhabi Commercial Bank (ADCB) as the case study.
The financial services sector relies heavily on the people’s incomes and general economic well-being. Thus, the performance of businesses in this industry often depends largely on the macro-economic business environment. Numerous external and internal factors influence the performance of banks and the financial capability of these organizations in general. Furthermore, the study revealed that globalization, rapid evolution of industries and technologies, as well as economic, legal and political factors force banks to be conscious and responsive to the emerging trends in the business environment. The interest in this study was motivated by the emerging trends that influence the financial performance of organizations in the banking industry. These trends will be examined in the study.
The study regarded these and other trends as major factors that continue to shape forces that define competitive market structures in the banking industry. As a result, the management of these organizations is endlessly searching for better ways to develop their unique brands and devise products, as well as service strategies that will give them competitive advantage over their competitors in an attempt to satisfy the changing needs, wants, and expectations of their customers. Customer loyalty programs, brand strategies, positioning, market segmentation, and targeting are some of the common marketing strategies used in the banking industry.
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