The intensity of competition is significant among the 15 players striving to capture the lager share of a limited?relatively small target market.
All commercial banks offer similar products . Thus the winning edge would largely depend on 'how you offer' than 'what you offer' . As such the level of convenience , the cost , the intrinsic value that bank provides to their customer would be of crucial importance in determining market share.
The banks need to effectively balance customer value together with provided for other stakeholders (such as shareholders, the government Etc) ,whilst operating within a stringent regulatory and legal framework. It is the "People" , of the Bank from bottom to top, that determine effectiveness of this equilibrium.
The managers play a vital role in this regard. Thus in order to survive as a manager and rise in the corporate ladder in this highly competitive industry, one needs to maintain high standards of competency in many aspects. I believe the most important of them would be skill and knowledge, Energy, Drive , Values and View. The manager must be equipped with the right Skill and Knowledge in his/her respective area of work , whilst sharpening and upgrading them to be fit Updating and sharpening one's self is of crucial importance, in an Industry which is highly vulnerable to "changes" that take place in the micro and macro environments.
Secondly he or she must have the Energy required to perform what is expected and also to go that extra mile when the going gets tough. He or she should have the energy to be patient in communicating listening and deciding, whilst not being slow in action. To survive such competition,one needs to be Self Driven as a manager, and should have the ability to drive others tactfully, to perform as a team, beyond expection.
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