E-Business Transformation in the Banking Industry: The Case of Citibank Description
Citibank reshaped considerably its e-business program after the financial crisis of 2008 focusing on leveraging its geographical reach, rolling out global initiatives to maintain its leadership in treasury and trade services, and becoming even more customer-centric. Citi restructured its R&D centers and its marketing strategy to assist customers in finding solutions rather than selling products. Citi's execution was fast-paced, but the landscape for treasury and trade services was changing rapidly after the financial crisis. Multi-banking became a must and a new solution marketed by SWIFT allowed to multi-bank on the internet at low cost and with greater efficiency than previous solutions. While adoption was slow, the change in the competitive landscape was significant. The data of any bank could now be seen and manipulated through the internet portal of any other bank. Internet portals continued to evolve offering new features and functionalities at product level: Citi updated its CitiDirect BE and TreasuryVision platforms to offer what the market asked for. But seamless bank-corporate integration at technology level was not evolving at the same pace. Corporation and bank data exchanges were inefficient, making a number of treasury tasks labor-intensive. Corporations came to prefer multi-banking platforms after the financial crisis, and were demanding automated integration of bank data into their ERPs. An e-business transformation was on the way. Internet banking portals became multi-banking portals, as did proprietary bank-corporate EDI links like CitiConnect. But it was cloud computing that promised the definitive technological solution for the bank-corporate integration model. The ERP vendor SAP was the first to experiment with a private cloud model and allow direct straight-through processing of each financial transaction sent from the ERP directly to bank middleware. Citi was the first bank to sign up with the project, but its competitors followed. Digitalization of bank services was reaching the next level, and this promised to have significant impact on the banking business model.
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Case Analysis of E-Business Transformation in the Banking Industry: The Case of Citibank
E-Business Transformation in the Banking Industry: The Case of Citibank is a Harvard Business (HBR) Case Study on Technology & Operations , Texas Business School provides HBR case study assignment help for just $9. Texas Business School(TBS) case study solution is based on HBR Case Study Method framework, TBS expertise & global insights. E-Business Transformation in the Banking Industry: The Case of Citibank is designed and drafted in a manner to allow the HBR case study reader to analyze a real-world problem by putting reader into the position of the decision maker. E-Business Transformation in the Banking Industry: The Case of Citibank case study will help professionals, MBA, EMBA, and leaders to develop a broad and clear understanding of casecategory challenges. E-Business Transformation in the Banking Industry: The Case of Citibank will also provide insight into areas such as – wordlist , strategy, leadership, sales and marketing, and negotiations.
Case Study Solutions Background Work
E-Business Transformation in the Banking Industry: The Case of Citibank
case study solution
is focused on solving the strategic and operational challenges the protagonist of the case is facing. The challenges involve – evaluation of strategic options, key role of Technology & Operations, leadership qualities of the protagonist, and dynamics of the external environment. The challenge in front of the protagonist, of E-Business Transformation in the Banking Industry: The Case of Citibank, is to not only build a competitive position of the organization but also to sustain it over a period of time.
Strategic Management Tools Used in Case Study Solution
The E-Business Transformation in the Banking Industry: The Case of Citibank case study solution requires the MBA, EMBA, executive, professional to have a deep understanding of various strategic management tools such as SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.
Texas Business School Approach to Technology & Operations Solutions
In the Texas Business School, E-Business Transformation in the Banking Industry: The Case of Citibank case study solution – following strategic tools are used - SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.
We have additionally used the concept of supply chain management and leadership framework to build a comprehensive case study solution for the case – E-Business Transformation in the Banking Industry: The Case of Citibank
Step 1 – Problem Identification of E-Business Transformation in the Banking Industry: The Case of Citibank - Harvard Business School Case Study
The first step to solve HBR E-Business Transformation in the Banking Industry: The Case of Citibank case study solution is to identify the problem present in the case. The problem statement of the case is provided in the beginning of the case where the protagonist is contemplating various options in the face of numerous challenges that Bank Banking is facing right now. Even though the problem statement is essentially – “Technology & Operations” challenge but it has impacted by others factors such as communication in the organization, uncertainty in the external environment, leadership in Bank Banking, style of leadership and organization structure, marketing and sales, organizational behavior, strategy, internal politics, stakeholders priorities and more.
Step 2 – External Environment Analysis
Texas Business School approach of case study analysis – Conclusion, Reasons, Evidences - provides a framework to analyze every HBR case study. It requires conducting robust external environmental analysis to decipher evidences for the reasons presented in the E-Business Transformation in the Banking Industry: The Case of Citibank.
The external environment analysis of E-Business Transformation in the Banking Industry: The Case of Citibank will ensure that we are keeping a tab on the macro-environment factors that are directly and indirectly impacting the business of the firm.
What is PESTEL Analysis? Briefly Explained
PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in E-Business Transformation in the Banking Industry: The Case of Citibank case study. PESTEL analysis of " E-Business Transformation in the Banking Industry: The Case of Citibank" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.
How to do PESTEL / PEST / STEP Analysis? What are the components of PESTEL Analysis?
As mentioned above PESTEL Analysis has six elements – political, economic, social, technological, environmental, and legal. All the six elements are explained in context with E-Business Transformation in the Banking Industry: The Case of Citibank macro-environment and how it impacts the businesses of the firm.
How to do PESTEL Analysis for E-Business Transformation in the Banking Industry: The Case of Citibank
To do comprehensive PESTEL analysis of case study – E-Business Transformation in the Banking Industry: The Case of Citibank , we have researched numerous components under the six factors of PESTEL analysis.
Political Factors that Impact E-Business Transformation in the Banking Industry: The Case of Citibank
Political factors impact seven key decision making areas – economic environment, socio-cultural environment, rate of innovation & investment in research & development, environmental laws, legal requirements, and acceptance of new technologies.
Policy Making Impact on E-Business Transformation in the Banking Industry: The Case of Citibank
Government policies have significant impact on the business environment of any country. The firm in “ E-Business Transformation in the Banking Industry: The Case of Citibank ” needs to navigate these policy decisions to create either an edge for itself or reduce the negative impact of the policy as far as possible.
Data safety laws – The countries in which Bank Banking is operating, firms are required to store customer data within the premises of the country. Bank Banking needs to restructure its IT policies to accommodate these changes. In the EU countries, firms are required to make special provision for privacy issues and other laws.
Competition Regulations – Numerous countries have strong competition laws both regarding the monopoly conditions and day to day fair business practices. E-Business Transformation in the Banking Industry: The Case of Citibank has numerous instances where the competition regulations aspects can be scrutinized.
Import restrictions on products – Before entering the new market, Bank Banking in case study E-Business Transformation in the Banking Industry: The Case of Citibank" should look into the import restrictions that may be present in the prospective market.
Export restrictions on products – Apart from direct product export restrictions in field of technology and agriculture, a number of countries also have capital controls. Bank Banking in case study “ E-Business Transformation in the Banking Industry: The Case of Citibank ” should look into these export restrictions policies.
Foreign Direct Investment Policies – Government policies favors local companies over international policies, Bank Banking in case study “ E-Business Transformation in the Banking Industry: The Case of Citibank ” should understand in minute details regarding the Foreign Direct Investment policies of the prospective market.
Taxation & Regulation Impact on E-Business Transformation in the Banking Industry: The Case of Citibank
Corporate Taxes – The rate of taxes is often used by governments to lure foreign direct investments or increase domestic investment in a certain sector. Corporate taxation can be divided into two categories – taxes on profits and taxes on operations. Taxes on profits number is important for companies that already have a sustainable business model, while taxes on operations is far more significant for companies that are looking to set up new plants or operations.
Tariffs – Chekout how much tariffs the firm needs to pay in the “ E-Business Transformation in the Banking Industry: The Case of Citibank ” case study. The level of tariffs will determine the viability of the business model that the firm is contemplating. If the tariffs are high then it will be extremely difficult to compete with the local competitors. But if the tariffs are between 5-10% then Bank Banking can compete against other competitors.
Government Scheme & Subsidies Impact on E-Business Transformation in the Banking Industry: The Case of Citibank
Research and Development Subsidies and Policies – Governments often provide tax breaks and other incentives for companies to innovate in various sectors of priority. Managers at E-Business Transformation in the Banking Industry: The Case of Citibank case study have to assess whether their business can benefit from such government assistance and subsidies.
Consumer protection – Different countries have different consumer protection laws. Managers need to clarify not only the consumer protection laws in advance but also legal implications if the firm fails to meet any of them.
Political System & Stability, and its Impact on E-Business Transformation in the Banking Industry: The Case of Citibank
Political System and Its Implications – Different political systems have different approach to free market and entrepreneurship. Managers need to assess these factors even before entering the market.
Freedom of Press is critical for fair trade and transparency. Countries where freedom of press is not prevalent there are high chances of both political and commercial corruption.
Corruption level – Bank Banking needs to assess the level of corruptions both at the official level and at the market level, even before entering a new market. To tackle the menace of corruption – a firm should have a clear SOP that provides managers at each level what to do when they encounter instances of either systematic corruption or bureaucrats looking to take bribes from the firm.
Independence of judiciary – It is critical for fair business practices. If a country doesn’t have independent judiciary then there is no point entry into such a country for business.
Government attitude towards trade unions – Different political systems and government have different attitude towards trade unions and collective bargaining. The firm needs to assess – its comfort dealing with the unions and regulations regarding unions in a given market or industry. If both are on the same page then it makes sense to enter, otherwise it doesn’t.
Economic Factors that Impact E-Business Transformation in the Banking Industry: The Case of Citibank
Social Factors that Impact E-Business Transformation in the Banking Industry: The Case of Citibank
Technological Factors that Impact E-Business Transformation in the Banking Industry: The Case of Citibank
Environmental Factors that Impact E-Business Transformation in the Banking Industry: The Case of Citibank
Legal Factors that Impact E-Business Transformation in the Banking Industry: The Case of Citibank
Step 3 – Industry Specific Analysis
What is Porter Five Forces Analysis
PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in E-Business Transformation in the Banking Industry: The Case of Citibank case study. PESTEL analysis of " E-Business Transformation in the Banking Industry: The Case of Citibank" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.
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