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Introduction
Diagnostics
EXTERNAL FACTORS
INDUSTRY ENVIRONMENT
Wells Fargo has a few
suppliers but their products
are of relatively little
importance and, if needed,
could easily be replaced by
Moderate
in-house.
The Fed
Many substitute products
Emerging virtual
currencies
High
Low/Moderate Highly competitive Moderate
6,799 banks in the
US (FDIC, 2014)
Startup costs: high
Legal processes to open a bank
are complicated
Compliance
Many customers
Low switching costs
Moderate/High
Diagram 1
