Page 29 - Banking Finance July 2017

COVER STORY

A WIN-WIN

BUSINESS

SITUATION

I n today's fast changing world business is not just a cake something more is needed and that too on an urgent basis

especially for our indigenous banks especially considering
walk / goodwill tour that one lands, grabs the oppor-
tunity and then vanish. Myopic approach is suicidal.
the existence of a very competitive world where there are
Truly, success means a long term phenomenon con-
tinuous market scans and adapting to change-friendly ap- many hungry competitors the number too going up by leaps
and bounds.
proaches. Strategy existing today may not be liked by the
next generation and thus quick adaptability system is re- In today's business world competition comes in many forms
quired to remain inbuilt. price / service / quality / speed of delivery / uniqueness /
experience / experience / knowledge / contacts / resources
Global business arena has been changing very fast making / brand equity, so on and so forth. Boosting of service qual-
it difficult for the poor-walkers to retain the market. There ity, keeping in view the very nature of effective demand, is
is a lot of noise out there. Merger / amalgamation / tie-up the crying need. The challenge is not only to acquire the
arrangements / outsourcing are being watched out still customer, but also to retain him in the business for further-
ing the process of improved customer value. What is more
the fact remains that the market share once gone would
About the author be very difficult to regain as not only the number of C O R
E[ Competitors, Opponents, Rivals and Enemies ] is on the
Dr B K Mukhopadhyay
A noted Management Economist, an In- rise but technology also is being continuously replaced / is
ternational Commentator on contempo- on a continuously changing positions.
rary business and Economic trends and
Principal, Eminent College of Manage- And of course the formula for trade off comes into play in
ment and Technology, Kolkata, India.
such a vital context.

BANKING FINANCE | JULY | 2017 | 29

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