Business Strategy & Performance: A Case Study of Bank of Queensland
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This report provides a comprehensive analysis of the Bank of Queensland's strategic management, evaluating its current and past strategies, vision, mission, objectives, and values. It examines the bank's external and internal fit, assessing the potential impact on performance. The analysis includes PESTEL, SWOT, VRIO, and Porter's Five Forces frameworks to provide a thorough understanding of the bank's strategic position. The report also identifies the bank's current growth strategy and recommends changes to improve its performance and achieve higher levels of growth. The analysis highlights the bank's strengths, weaknesses, opportunities, and threats, as well as the competitive forces shaping the banking industry in Australia.

Running head: Business Management and Strategic Management 1
BUSINESS MANAGEMENT AND STRATEGIC MANAGEMENT
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BUSINESS MANAGEMENT AND STRATEGIC MANAGEMENT
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Business Management and Strategic Management 2
Introduction
The business strategy is an important business aspect that shows the organizational
direction and ability of the organization to see the future. Organizational strategy is based on
vision, mission, objectives and core value of the business. Banking sector requires a specific
organizational strategy that enables the organization to move forward and expands. The external
fit of the business can be grouped into tangible and intangible factors that enable the business to
operate with the industry. The internal business fit, on the other hand, includes all those factors
that enable the business to performs that are internally based. The organization has both
weaknesses and strength that give the company’ its competitiveness. The aim of this paper is to
explore the strategic management of the Bank of Queensland with some recommendations for
improvement.
Bank of Queensland
The Bank of Queensland is an Australian bank that was established in 1982 though the
history of the bank dates back to 1921. The bank has been operating within Australia and
regionally though the bank is headquartered in the Brisbane state of Queensland. The bank offer
variety of banking and financial support to its customers with more than 300 branches spread
throughout Australia. The bank has business strategic plan and business strategies that are mostly
based on building a relationship with customers (Bank of Queensland 2016).
Evaluate the performance of their current (or past) strategy
Identify their vision, mission, objective, values and business strategy
Introduction
The business strategy is an important business aspect that shows the organizational
direction and ability of the organization to see the future. Organizational strategy is based on
vision, mission, objectives and core value of the business. Banking sector requires a specific
organizational strategy that enables the organization to move forward and expands. The external
fit of the business can be grouped into tangible and intangible factors that enable the business to
operate with the industry. The internal business fit, on the other hand, includes all those factors
that enable the business to performs that are internally based. The organization has both
weaknesses and strength that give the company’ its competitiveness. The aim of this paper is to
explore the strategic management of the Bank of Queensland with some recommendations for
improvement.
Bank of Queensland
The Bank of Queensland is an Australian bank that was established in 1982 though the
history of the bank dates back to 1921. The bank has been operating within Australia and
regionally though the bank is headquartered in the Brisbane state of Queensland. The bank offer
variety of banking and financial support to its customers with more than 300 branches spread
throughout Australia. The bank has business strategic plan and business strategies that are mostly
based on building a relationship with customers (Bank of Queensland 2016).
Evaluate the performance of their current (or past) strategy
Identify their vision, mission, objective, values and business strategy

Business Management and Strategic Management 3
Firstly, the vision of the company is to build a long-term relationship with customers
within the banking sector. To ensure a greater realization of the bank’s vision the bank prides on
offering high quality and genuine products that meet customer’s financial needs (Ireland,
Hoskisson & Hitt 2008). Secondly, the mission of the company is to prove that customers can
love a bank. This mission is also grounded in the customer-bank relationship. Thirdly, the core
value of the business is built on a company-customer relationship where the bank strives to build
a professional relationship with customers through Australia and internationally. This implies
that the primary focus is on customer’s satisfaction with quality banking products offered in the
most comfortable environment. Fourthly, the objective of the Bank of Queensland Limited is to
offering quality and genuine banking products to the customer in a comfortable banking
environment. This objective is coupled with customer focus culture that gives high value to the
customer. Finally, the business strategy is to focus on niche segments where customers value a
more intimate banking relationship (Zhexembayeva 2014). This banking strategy is based on 4
pillars and these are a customer in charge, there’s always a better way, grow the right way, loved
like no other’ and our 4 values of collaboration, ‘integrity, impact, passion’. The business
strategy work to venture in more customer-oriented areas where customer's needs are not yet
satisfied and this will also help the company to grow and reach its overall goal in the banking
sector (Bank of Queensland 2016).
Examine external fit
The external business fit for the bank can be studied under tangible and intangible
business fit. Firstly, the tangible business fit can be analyzed in terms of financial capability of
the business and location. The financial fit of the business include those securities and financial
Firstly, the vision of the company is to build a long-term relationship with customers
within the banking sector. To ensure a greater realization of the bank’s vision the bank prides on
offering high quality and genuine products that meet customer’s financial needs (Ireland,
Hoskisson & Hitt 2008). Secondly, the mission of the company is to prove that customers can
love a bank. This mission is also grounded in the customer-bank relationship. Thirdly, the core
value of the business is built on a company-customer relationship where the bank strives to build
a professional relationship with customers through Australia and internationally. This implies
that the primary focus is on customer’s satisfaction with quality banking products offered in the
most comfortable environment. Fourthly, the objective of the Bank of Queensland Limited is to
offering quality and genuine banking products to the customer in a comfortable banking
environment. This objective is coupled with customer focus culture that gives high value to the
customer. Finally, the business strategy is to focus on niche segments where customers value a
more intimate banking relationship (Zhexembayeva 2014). This banking strategy is based on 4
pillars and these are a customer in charge, there’s always a better way, grow the right way, loved
like no other’ and our 4 values of collaboration, ‘integrity, impact, passion’. The business
strategy work to venture in more customer-oriented areas where customer's needs are not yet
satisfied and this will also help the company to grow and reach its overall goal in the banking
sector (Bank of Queensland 2016).
Examine external fit
The external business fit for the bank can be studied under tangible and intangible
business fit. Firstly, the tangible business fit can be analyzed in terms of financial capability of
the business and location. The financial fit of the business include those securities and financial
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Business Management and Strategic Management 4
niche where other banking institutions have not ventured. The bank is venturing into financial
solutions within other areas such as banking services for medical professionals. The physical
location of the business makes the second set of external business fit as its location in
Queensland make the bank easily accessible to its customers. Queensland is the second
populated state in Australia with over 4.5 million populations (Song 2012).
Secondly, intangible business external fit includes technology, brand reputation, and
banking culture. The organization has advanced technology that assists clients in banking to
make customers love the bank. The technological fit enables the business to serves customers
from any location in Australia and around the world. Brand reputation for the bank is based on
the company's longer financial industry presence that dates back to 1921 making the bank one of
the oldest bank in Queensland and Australia as a whole. This gives the bank a longer history that
enables the organization to dominate banking sector of Australia. Good banking culture
characterized by customer focus enables the bank to develop a long customer relationship
leading to high profit. In addition, the bank has achieved a customer satisfaction index of 88%
within the banking industry of Australia (Cameron 2014, pp 22-27).
Examine internal fit
The Bank of Queensland has various factors that form the organization's internal fit.
Internal business fit includes organizational culture, financial fit, human resource and business
strategic fit. Firstly, human resource is one factor that enables the organization to operate in the
banking sector of the country. The bank has strong team-oriented human resources that are tied
to customer focus goal (Hill & Gareth 2008, p.11). Secondly, an organizational culture that is
niche where other banking institutions have not ventured. The bank is venturing into financial
solutions within other areas such as banking services for medical professionals. The physical
location of the business makes the second set of external business fit as its location in
Queensland make the bank easily accessible to its customers. Queensland is the second
populated state in Australia with over 4.5 million populations (Song 2012).
Secondly, intangible business external fit includes technology, brand reputation, and
banking culture. The organization has advanced technology that assists clients in banking to
make customers love the bank. The technological fit enables the business to serves customers
from any location in Australia and around the world. Brand reputation for the bank is based on
the company's longer financial industry presence that dates back to 1921 making the bank one of
the oldest bank in Queensland and Australia as a whole. This gives the bank a longer history that
enables the organization to dominate banking sector of Australia. Good banking culture
characterized by customer focus enables the bank to develop a long customer relationship
leading to high profit. In addition, the bank has achieved a customer satisfaction index of 88%
within the banking industry of Australia (Cameron 2014, pp 22-27).
Examine internal fit
The Bank of Queensland has various factors that form the organization's internal fit.
Internal business fit includes organizational culture, financial fit, human resource and business
strategic fit. Firstly, human resource is one factor that enables the organization to operate in the
banking sector of the country. The bank has strong team-oriented human resources that are tied
to customer focus goal (Hill & Gareth 2008, p.11). Secondly, an organizational culture that is
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Business Management and Strategic Management 5
based on customer relationship culture is build desire to connect with customers. The bank
strives to build a long-lasting relationship with customers through good banking and financial
services. Thirdly, the financial fit is another internal environment fit that has been contributing to
the success of the business. The bank has numerous financing options that include good financial
strategy, technological finance, and varied financial options. Lastly, the bank’s strategic
management and fit also play an important role in the growth and achievement of company’s
objectives. The bank has good strategic plan and management that is structured to focus on the
customer and offer a genuine customer support services. This has been one of the success factors
that enabling the business to grow within Australia competitive environment (Mbaskool.com
2017).
The potential impact of external fit and internal fit on performance against their objectives
External and internal business fit has a potential impact on the performance of the
business beyond its objectives. Firstly, external business fit an immense impact on the bank's
performance in the banking industry. External fit makes the business competes within the
banking sector of Australia. In order for the Bank of Queensland performs better beyond the
objectives; the bank has to have strategic factors that fit within this industry. Factors such as
good niche segment and technological advancement enable the business to perform against its
objectives. Niche segment has been one of the driving force enabling the business performs
within the banking industry. In addition, the organization’s business culture of building a
relationship with the customer is the key to the performance of the business. Building
relationship with customers, for instance, ensures that customers are retained and offered a
quality service beyond their expectations (Grant 2007).
based on customer relationship culture is build desire to connect with customers. The bank
strives to build a long-lasting relationship with customers through good banking and financial
services. Thirdly, the financial fit is another internal environment fit that has been contributing to
the success of the business. The bank has numerous financing options that include good financial
strategy, technological finance, and varied financial options. Lastly, the bank’s strategic
management and fit also play an important role in the growth and achievement of company’s
objectives. The bank has good strategic plan and management that is structured to focus on the
customer and offer a genuine customer support services. This has been one of the success factors
that enabling the business to grow within Australia competitive environment (Mbaskool.com
2017).
The potential impact of external fit and internal fit on performance against their objectives
External and internal business fit has a potential impact on the performance of the
business beyond its objectives. Firstly, external business fit an immense impact on the bank's
performance in the banking industry. External fit makes the business competes within the
banking sector of Australia. In order for the Bank of Queensland performs better beyond the
objectives; the bank has to have strategic factors that fit within this industry. Factors such as
good niche segment and technological advancement enable the business to perform against its
objectives. Niche segment has been one of the driving force enabling the business performs
within the banking industry. In addition, the organization’s business culture of building a
relationship with the customer is the key to the performance of the business. Building
relationship with customers, for instance, ensures that customers are retained and offered a
quality service beyond their expectations (Grant 2007).

Business Management and Strategic Management 6
The internal business fit, on the other hand, plays an important role in the attainment of
the business objectives. A good business strategic plan has been based on the organization’s
application of culture and core value to serve customers. As stronger leadership has an impact on
the performance of the business as it gives the business direction that is used to achieve business
objectives. Strong business culture brings together various company employees to focus on the
customer and this has a positive impact on the business against the objective (Douma &
Schreuder 2013).
PESTEL, SWOT, VRIO, and Porters 5 Forces Analysis
PEST analysis
Pest analysis is the analysis of political, economic, social and technological factors.
Political environment includes political stability of the country has a high impact on the economy
that is related to the success of the banking business. The legal framework within Australia and
particularly Queensland enables contract business and licensing of business hence high
performance. In addition, anti-trust laws enacted is essential for banking within the country as it
encourages lending in banking industry without fear of losses (Song 2012).
Economic factors that affect the operation of the bank include good government policies
that encourage infrastructure quality within the banking sector is an important economic factor.
Australia has a good exchange rate that is coupled with stable Australia currency at and this is a
critical factor in the banking industry as it determines the currency trade. The economic growth
rate is another economic factor that has an impact on the banking sector as the economic growth
rate determines the business growth. Inflation is another economic factor that also has an impact
The internal business fit, on the other hand, plays an important role in the attainment of
the business objectives. A good business strategic plan has been based on the organization’s
application of culture and core value to serve customers. As stronger leadership has an impact on
the performance of the business as it gives the business direction that is used to achieve business
objectives. Strong business culture brings together various company employees to focus on the
customer and this has a positive impact on the business against the objective (Douma &
Schreuder 2013).
PESTEL, SWOT, VRIO, and Porters 5 Forces Analysis
PEST analysis
Pest analysis is the analysis of political, economic, social and technological factors.
Political environment includes political stability of the country has a high impact on the economy
that is related to the success of the banking business. The legal framework within Australia and
particularly Queensland enables contract business and licensing of business hence high
performance. In addition, anti-trust laws enacted is essential for banking within the country as it
encourages lending in banking industry without fear of losses (Song 2012).
Economic factors that affect the operation of the bank include good government policies
that encourage infrastructure quality within the banking sector is an important economic factor.
Australia has a good exchange rate that is coupled with stable Australia currency at and this is a
critical factor in the banking industry as it determines the currency trade. The economic growth
rate is another economic factor that has an impact on the banking sector as the economic growth
rate determines the business growth. Inflation is another economic factor that also has an impact
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Business Management and Strategic Management 7
on the bank as the inflation rate currently stands at 1.80%. The interest rate on the other hand
currently stands at a very stable rate that allows business within the country (Mbaskool.com
2017).
Social factors that determine the performance of the company include population size the
state and citizen life style. Queensland is one of the most populated states offering larger
population that is ideal for the operation of the bank and this has highly contributed to the wide
spread banks branches with the country. The life style of most people living with the state offers
opportunity for bank to grow since many people currently prefer being attached to banks. This is
coupled with the need for financial support in terms of mortgages and loans. In addition, the
desire of most people to own facilities and houses is also driving many people living with the
country to look for financial solutions (Porter 2008, pp. 78-93).
Technological environment within the company itself is making the company to move far
beyond many competitors. The bank has been innovative and this is evidence with its medical
finance that is a new niche. Moreover, the company has been investing in banking technologies
though it has not reached the desired level as other technological advanced companies. The
company has been offering online banking services to customers thanks to the available
technologies. The country has been on the verge of becoming technological advance and this is
driving force that is making many companies to employ technological policies within their
operations (Teich 2008).
SWOT analysis
on the bank as the inflation rate currently stands at 1.80%. The interest rate on the other hand
currently stands at a very stable rate that allows business within the country (Mbaskool.com
2017).
Social factors that determine the performance of the company include population size the
state and citizen life style. Queensland is one of the most populated states offering larger
population that is ideal for the operation of the bank and this has highly contributed to the wide
spread banks branches with the country. The life style of most people living with the state offers
opportunity for bank to grow since many people currently prefer being attached to banks. This is
coupled with the need for financial support in terms of mortgages and loans. In addition, the
desire of most people to own facilities and houses is also driving many people living with the
country to look for financial solutions (Porter 2008, pp. 78-93).
Technological environment within the company itself is making the company to move far
beyond many competitors. The bank has been innovative and this is evidence with its medical
finance that is a new niche. Moreover, the company has been investing in banking technologies
though it has not reached the desired level as other technological advanced companies. The
company has been offering online banking services to customers thanks to the available
technologies. The country has been on the verge of becoming technological advance and this is
driving force that is making many companies to employ technological policies within their
operations (Teich 2008).
SWOT analysis
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Business Management and Strategic Management 8
Bank of Queensland
Strength
1. The bank has good banking technology
2. The organization has received good
customer satisfaction rate
3. The bank is one of the oldest banks in
Australia
4. The good reputation of over 300
branches within Australia
Weaknesses
1. Limited control due to branches
owner’s management
2. The bank has limited international
branches
Opportunity
1. The country is stable and the growth is
at a good pace allowing business
2. Australia has global ties that are good
for conducting business
Threats
1. High competition in the banking sector
of Australia.
2. Low financial demand is affecting the
Bank of Queensland
Strength
1. The bank has good banking technology
2. The organization has received good
customer satisfaction rate
3. The bank is one of the oldest banks in
Australia
4. The good reputation of over 300
branches within Australia
Weaknesses
1. Limited control due to branches
owner’s management
2. The bank has limited international
branches
Opportunity
1. The country is stable and the growth is
at a good pace allowing business
2. Australia has global ties that are good
for conducting business
Threats
1. High competition in the banking sector
of Australia.
2. Low financial demand is affecting the

Business Management and Strategic Management 9
banking sector (Blake & Wijetilaka
2015)
VRIO analysis
Firstly, the values of resources are not high since most resources are regulated by the
sector legislation and code of practice. The market is readily available though expansion with the
company is difficult due to low customer increase. This has implication in the business since it
reduces the chance of expanding the organization. Secondly, the business is not rear except on
the medical financial support that is also one of organization portfolio. The rareness of the
resources make the business innovative and venture in the most promising business niche.
Thirdly, most of products and services that the organization deals in are easily imitable since
they consist of common bank financial business. There is one aspect of the organization’ service
that is unique and not imitable. Finally, the Bank of Queensland has a good organization that
supports the resources available within the organization. The organizational management enable
the organization to venture into a unique niche and expand its business within Australia (Barney
& Hesterly 2010, pp. 68–86).
Porters 5 Forces Analysis
Porters 5 forces can be analysed based on the five factors that and these include customer
power, supplier powers, the threat of new entrants, threat of substitutes and industry rivalry.
banking sector (Blake & Wijetilaka
2015)
VRIO analysis
Firstly, the values of resources are not high since most resources are regulated by the
sector legislation and code of practice. The market is readily available though expansion with the
company is difficult due to low customer increase. This has implication in the business since it
reduces the chance of expanding the organization. Secondly, the business is not rear except on
the medical financial support that is also one of organization portfolio. The rareness of the
resources make the business innovative and venture in the most promising business niche.
Thirdly, most of products and services that the organization deals in are easily imitable since
they consist of common bank financial business. There is one aspect of the organization’ service
that is unique and not imitable. Finally, the Bank of Queensland has a good organization that
supports the resources available within the organization. The organizational management enable
the organization to venture into a unique niche and expand its business within Australia (Barney
& Hesterly 2010, pp. 68–86).
Porters 5 Forces Analysis
Porters 5 forces can be analysed based on the five factors that and these include customer
power, supplier powers, the threat of new entrants, threat of substitutes and industry rivalry.
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Business Management and Strategic Management 10
The threat of new entrants
The banking industry in Australia is a market that experience medium pressure from new
entrants. There are many different businesses entering the sector though this only affects the
banking sector and does not affect other business portfolios. Portfolios such as medical finance
are limitedly affected by new entrants. This, therefore, has low pressure on the bank and its
operation within the banking industry. Banking sector entrance, on the other hand, has medium
pressure though the entry of new firms minimally affects the older firms such as Bank of
Queensland due to their dominant presence (Mulcaster 2009, pp 68–75).
Customer power
The firm experience low customer pressure as the organization already work towards
satisfactory service and products. Though the banking sector of Australia normally has high
customer expectations, the bank has worked towards satisfying its customers and this is evidence
based on the customer rating. In addition, the organization has a strategy of building their
relationship with customers making it difficult to receive pressure from clients especially on the
price (Mesly 2017, pp 9).
Supplier power
The banking sector has medium supplier pressure as those suppliers requires a fair price
for their products and services. The bank has various suppliers that include technology firms and
general suppliers with medium bargaining power as compared to other sectors. Moreover,
The threat of new entrants
The banking industry in Australia is a market that experience medium pressure from new
entrants. There are many different businesses entering the sector though this only affects the
banking sector and does not affect other business portfolios. Portfolios such as medical finance
are limitedly affected by new entrants. This, therefore, has low pressure on the bank and its
operation within the banking industry. Banking sector entrance, on the other hand, has medium
pressure though the entry of new firms minimally affects the older firms such as Bank of
Queensland due to their dominant presence (Mulcaster 2009, pp 68–75).
Customer power
The firm experience low customer pressure as the organization already work towards
satisfactory service and products. Though the banking sector of Australia normally has high
customer expectations, the bank has worked towards satisfying its customers and this is evidence
based on the customer rating. In addition, the organization has a strategy of building their
relationship with customers making it difficult to receive pressure from clients especially on the
price (Mesly 2017, pp 9).
Supplier power
The banking sector has medium supplier pressure as those suppliers requires a fair price
for their products and services. The bank has various suppliers that include technology firms and
general suppliers with medium bargaining power as compared to other sectors. Moreover,
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Business Management and Strategic Management 11
supplier power has little impact on the bank especially on the medical side where only a few
suppliers are required (Porter 2008, pp. 78-93.).
Threat of substitutes
The threat from substitute is high in the banking industry as many companies offer
similar products and services. High pressure is experienced due similarity of products and
services offered within the banking sector. The business through diversified products and
services ensures that it has those services that have no substitutes. This implies that the bank has
services such as medical financing that has few firms (Ghodeswar 2008).
Industry rivalry
There is low pressure due to industry rivalry since banking sector is based on
professionalism and is guided by a code of practices. The banking industry is guided by
professionalism code of conduct and has a low rivalry. In addition, the bank ventured into
another niche with very low rivalry and without players. This is limelight for the company as the
organization remains the platform setting organization (Osita, Onyebuchi & Justina 2014, pp 23–
32).
Current growth strategy used within Bank of Queensland
The three current growth strategy used within the bank include venture in a new and
unique niche, customer relationship strategy, and provision of quality and genuine products. The
current strategy focus on coming up with new unventured areas which the company explores for
growth. The second strategy focuses on building a long-lasting professional relationship with
supplier power has little impact on the bank especially on the medical side where only a few
suppliers are required (Porter 2008, pp. 78-93.).
Threat of substitutes
The threat from substitute is high in the banking industry as many companies offer
similar products and services. High pressure is experienced due similarity of products and
services offered within the banking sector. The business through diversified products and
services ensures that it has those services that have no substitutes. This implies that the bank has
services such as medical financing that has few firms (Ghodeswar 2008).
Industry rivalry
There is low pressure due to industry rivalry since banking sector is based on
professionalism and is guided by a code of practices. The banking industry is guided by
professionalism code of conduct and has a low rivalry. In addition, the bank ventured into
another niche with very low rivalry and without players. This is limelight for the company as the
organization remains the platform setting organization (Osita, Onyebuchi & Justina 2014, pp 23–
32).
Current growth strategy used within Bank of Queensland
The three current growth strategy used within the bank include venture in a new and
unique niche, customer relationship strategy, and provision of quality and genuine products. The
current strategy focus on coming up with new unventured areas which the company explores for
growth. The second strategy focuses on building a long-lasting professional relationship with

Business Management and Strategic Management 12
intention of retaining customers and be loved by those customers. Thirdly, the strategy is built on
offering quality, genuine and satisfactory product full of customer integrity and truthfulness
(Cameron 2014, pp 22-27).
Current growth strategy
The organization has a growth strategy that is based on some key pillars and these are
customer relationship, new business niche and quality products and services. Firstly, the business
strategy of building a relationship with customer aimed at retaining more customers and
obtaining customers’ satisfaction (Vozar 2013). The business works to prove that banks can be
loved by customers in Australia. Secondly, the new business niche that is characterized by new
venture areas is another important business strategy that serves to venture into areas with limited
competition. This is evidenced by the bank areas of financial venture that is mostly financing
medical practitioners and real estate sector. Thirdly, offering quality products and services is
another area that is driving the growth of the bank as the bank aims to offer quality products and
services thereby becoming a bank with high customer rating in Australia. The bank has been
rated high with customers and this is important for building brand reputation and positioning
within the market or industry (Besanko, Dranove, Schaefer & Shanley 2012).
Recommendations
In light all the above evaluation of Bank of Queensland, there are many recommendations
that require improvement. Firstly, there is still little technological development of the company
as only little technological capability is evidence within the firm. With the current technological
demand within the banking sector, most customers require business transaction at their comforts
intention of retaining customers and be loved by those customers. Thirdly, the strategy is built on
offering quality, genuine and satisfactory product full of customer integrity and truthfulness
(Cameron 2014, pp 22-27).
Current growth strategy
The organization has a growth strategy that is based on some key pillars and these are
customer relationship, new business niche and quality products and services. Firstly, the business
strategy of building a relationship with customer aimed at retaining more customers and
obtaining customers’ satisfaction (Vozar 2013). The business works to prove that banks can be
loved by customers in Australia. Secondly, the new business niche that is characterized by new
venture areas is another important business strategy that serves to venture into areas with limited
competition. This is evidenced by the bank areas of financial venture that is mostly financing
medical practitioners and real estate sector. Thirdly, offering quality products and services is
another area that is driving the growth of the bank as the bank aims to offer quality products and
services thereby becoming a bank with high customer rating in Australia. The bank has been
rated high with customers and this is important for building brand reputation and positioning
within the market or industry (Besanko, Dranove, Schaefer & Shanley 2012).
Recommendations
In light all the above evaluation of Bank of Queensland, there are many recommendations
that require improvement. Firstly, there is still little technological development of the company
as only little technological capability is evidence within the firm. With the current technological
demand within the banking sector, most customers require business transaction at their comforts
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