SWOT Analysis: National Bank of Canada
("National Bank of Canada | SWOT Analysis | USP & Competitors | Brand Guide | MBA Skool-Study. Learn. Share.” 2016)
Generic Strategy
Based on the activities and operations of the National Bank of Canada, it can be seen that it is efficiently heading towards the right direction as would be required by the associated stakeholders. Basically, this is because of the tremendous gains that the bank has overtime made in the banking sector. This can be perceived in terms of the positive gains that the bank has recorded in its financials with the interests being earned being considered as the primary source of revenue. Generally, the bank would like to acquire the number position amongst the top five banks in Canada.
Notably, the bank employs a broad range of strategies for the accomplishment of its various operations. These strategies are pegged on the company’s human resources, technological input, innovation and creativity and lastly massive investments in its reputation consequently boosting its image. These strategies have by far worked well for the bank as they have enabled it to improve its performance. It has enormously invested in technology and in particular the information systems thus growing its incomes. (Marowits, 2015) It also has a broad base of employees with different skills able to satisfy the needs of the business. Lastly, its highly structured products denote a higher creativity, as well as, innovation in its product offerings.
Discussions and recommendations
Based on the SWOT analysis of the National Bank of Canada, it is prudent for the entity to stick with its current strategy, as well as, objectives. This is because they have been the ones that have basically culminated in improving its level of efficiencies. However, just a little fine tuning may be required such as carrying out more investments in research and development for purposes of discerning the best alternatives required to continually keep the clients happy.
References
Government of Canada. (2016). Acts and Lists of Regulations. Retrieved from: http://www.ceaa-acee.gc.ca/default.asp?lang=en&n=9EC7CAD2-1
Marowits, R. (2015). National Bank to harness technology and sales outside Quebec to drive growth. The Canadian Press. Retrieved 19 June 2016, from http://www.canadianbusiness.com/business-news/national-bank-to-harness technology-and-sales-outside-Quebec-to-drive-growth/
National Bank of Canada | SWOT Analysis | USP & Competitors | Brand Guide | MBA Skool-Study. Learn. Share. (2016). MBA Skool-Study. Learn. Share. Retrieved 19 June 2016, from http://www.mbaskool.com/brandguide/banking-and-financial-services/3140-national-bank-of-canada.html
