UK Banking Services Use Michael Porter' Diamond Essay

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UK Banking Services

Use Michael Porter' diamond model to determine the specific sources of national competitiveness that have boosted/hindered the success of UK banking product/service's?

Factor conditions

Demand conditions

Related and supporting industries

Firm strategy, structure, and rivalry

Government

Chance

Suppose you were the international marketing manager of a UK bank, what would you recommend to your government on how it could boost the elements of competitiveness?

Technological growth

Expanse in the market

Study of the mechanisms of production

Influencing merger options within the diverse market

Appreciating change in the organization

Discuss which international trade theory best explains the pattern of international trade development in UK banking and why

Bibliography

Abstract

Banking is a lucrative activity that must be understood to have varying avenues of performance in the world. The UK Banking services organization has an expanse of services that have been beneficial to many businesses and monetary exemplifications in the world. With this regard, this report has explored on the existence and significance of the UK Banking Services in and outside of Australia. The strategic options and activities that have been undertaken by the Bank have had several successes and failures. The different structures of performance like the government and the political happenings have formed a basement in the study. Moreover, the report has explored on the many recommendations that can be used to express growth and development in the UK Banking Services.

UK Banking Services

Acknowledgement

This report has been written under the full assistance of the banks within the City of London. The technicalities in the report have been explored from the banks and have been a great contribution to the study. Further acknowledgements go to the institutional facilitation that has enabled a thorough study and reporting of the growth and development within the UK Banking Services.

Executive summary

This report has sought to investigate on the strategies that have been used to explore growth and development within the UK Banking Services in the world. The figurative approaches and analytical statistics that have been explored through research and study have been explored within the activities and strategies of the report. The study has involved qualitative approaches of study in order to explore on the strategic occurrences in the UK Bank Services.

Discussion

Use Michael Porter' diamond model to determine the specific sources of national competitiveness that have boosted/hindered the success of UK banking product/service's?

National competitiveness is one of the core values and value systems that have been taken up by the UK banking services. Just as in other organizations or businesses, there is some relevance to the state of service and operation done in UK banking services. The innate values and intentions of the organization are to have a genuine avenue of competition and staying successful in the competitive market. The history of the UK banking services has been installed in its avenues of success in the region. For instance, the regional influences of growth and development are directed at increasing the capability of the business to thrive in the market and even grow bigger, unlike the present capital generation. In order to boost the general growth and development in the region, it has become an important aspect of the UK banking services to involve varied strategies in order to boost its competitiveness in the local and global markets (Buckle & Thompson 2004, p. 67). Considering the Michael's Porter diamond model, there are defined sources of national competitiveness that have boosted or hindered the success of the UK banking services and products.

Factor conditions

The factor resources refer to the human resources together with the knowledge resources, physical resources, infrastructure and the capital resources. These are the basic resources or materials of national concern that have determined the state and the success of the UK banking services in the market. The existing services from the company are a directive that can be described to hail from the possible avenues of production in the market. The market is a genuine avenue from where all these factor conditions play a critical role. As happened in the UK banking services, there has been a constant supply of the factor conditions. For instance, the UK banking services have had a good source of the human resources as a way of boosting its stability in the market. The existing market conditions have enabled the company to dwell within a stable marketing avenue that rests within a genuine protocol for competitiveness. The UK banking services have a stable access to the natural resources, physical materials, capital resources, and infrastructure in the market. The influx of these resources has boosted the general parameters of success within the corporation. In most cases, the existing avenues of production have been boosted because of the overwhelming stability that the UK banking services has enjoyed in the market (Ian, 2009, p.67).

The market conditions are best served when these resources as represented by the factor conditions are in place. The competitive edge that has been developed by the UK banking services has been boosted by the effectiveness and overall influence of the factor conditions in the region. For the UK banking services, the factor conditions have been very specific in the determination of the general avenues of production. Production has been made effective because of the influence of the competitiveness of the market (Great Britain, 2011, p.36).

As a way of ensuring competitiveness and stability in the market, the existing trends of performance within the market have ensured that there are genuine avenues of production through the specification of the available avenues of production. The specified resources within the factor conditions like the physical resources and infrastructure have been very phenomenal in the general avenues of growth and competitiveness of the UK banking services in the market. Nonetheless, some instances of scarcity of the factor conditions have forced the UK banking services to incur a number of losses that are escalated from the competitiveness of the other bodies in the market. Nonetheless, the competitive edge has been boosted within and outside the host nation (Buckle & Thompson 2004, p. 67).

Demand conditions

The demand criterion is reflected from the capability of the UK banking services to enforce strategies in the products and services meeting the desired needs of the clients. Organizations must adopt this strategy as a way of reflecting on an effective growth and development. The existing avenues of production are directed at making sure that the UK banking services have products and services that meet the tastes and preferences of the people in the market. In the home market, the UK banking services have ensured that a competitive advantage has been introduced from the manufacturing and service activities that meet the direct specifications of the people (Singh 2007, p. 37).

In most cases, the available avenues of production have been directed at influencing equitable competitiveness through innovation and creativity within the production avenues in the market. The market is the basic fact that ensures an equitable stability of production in the market. The market stands as the basic field that determines the level of competitiveness that has been bestowed upon different organizations in the market like the UK banking services (Vinten 2005, p. 62).

Related and supporting industries

The UK banking services has been known to produce products and services that are important for innovation and internationalization. The UK banking services are a global force. Therefore, this avenue of marketing or awareness has made it engage in global avenues of making sure that it has existed in the market. The market is a simple globe that grows and changes at any given time. In order to foster an equitable avenue of realizing the best ways and means of production in the market, the UK banking services have involved different avenues of production within the production lines (Pond & Lipscombe 2007, p. 41).

Some of the related industries have assisted the UK banking services in its avenues of going global in the market. For instance, the UK banking services have advanced its products and services because of engagement with its related companies in and outside the Australian territories. The merger programs that have been introduced between the UK banking services and many other banking options and entities sin the world has assisted the company in ensuring a stable competitive edge in the global market (Buckle & Thompson 2004, p. 67). The relation with the companies of similar production structures has enabled the company to engage the rightful ways and means of accessing the possible successes in the market.

Firm strategy, structure, and rivalry

The UK banking services have an established structure that has enabled an increase in production within and outside Australia. In Australia, the UK banking services emerged as a single entity the dealt with the production of a diverse banking option in the market. Nonetheless, the UK banking services have managed to diversify most of its production avenues to include those that are outside the country. In order to ensure an equitable market in…[continue]

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