University Assignment: Strategic Management Report on DBS Saving

This management report analyzes the saving strategy of DBS Bank, a multinational financial institution. The report examines DBS's approach to talent management, emphasizing training and development to align employee skills with business requirements. It highlights DBS's expansion in the digital space, focusing on a comprehensive digital banking platform available on both desktop and mobile apps, offering a wide range of services to attract both individual and business customers. The report also explores product differentiation, aligning products with customer needs, and the effectiveness of digital marketing compared to other methods. It also delves into the economic logic of digitalization and suggests alternatives to enhance the bank's market position and revenue generation. The report also includes references to support the analysis.

Running head: SAVING STRATEGY OF DBS
Saving Strategy of DBS
Name of the Student:
Name of the University:
Author Note:

1
SAVING STRATEGY OF DBS
Staging: Firm’s speed of and sequence of moves:
The management of DBS should collaborate with all the departments to recognize the
present talent levels of its employees. The multinational banking organization should assess the
factors like knowledge level and customer management skills. The highly performing employees
should be awarded with higher posts and more responsibilities. This would bring about career
development among the present employees who are performing well and motivate them. The
employees who are preforming average or low should be offered training. The multinational
financial organization should offer the training to both on role employees and outsourced
employees as well (Maier et al.). The training should span across all locations and departments.
This would aim of the training should be aligning the skills and expertise of the human resource
of DBS with the business requirement and the prevailing competitive environment. This would
lead to development in the efficiency of the human resources in their entirety. This promote high
organizational performance in DBS and render it higher position in the financial market.
Arenas: Digital space:
DBS should expand and cement its presence in the digital besides being present through
brick and mortar outlets. The bank would be active on the digital space and strengthen it to
operate like a virtual bank branch. The Singaporean multinational bank should create a digital
banking platform which should be capable of taking care of the several needs of the customers of
every kind. The digital banking should be available on both desktop and smart phone apps. The
official website has to play a pivotal role in attracting customers both individuals and business
customers. The official website should show all the products in detail and give complete
information like the charges of different products and the rate of interest that would be levied in
the events of late payments (De la Pena, Alicia Del Socorro and De Leon). The domestic

2
SAVING STRATEGY OF DBS
customers of all financial capabilities (low income and high income) should be able to avail
products like basic savings account and premium savings accounts respectively according to
their financial strength. Similarly, there should the business organization products like business
loans and current accounts should be available on the official websites for business organizations
of all sectors and sizes. The visitors should be able to open accounts and apply for asset products
like credit cards and loans. The official website should also allow customers to communicate
with the customer care department who would solve their queries. The website should enable the
customers avail services of staff at their convenience. The same services should be available on
the mobile apps (dbs.com).
Vehicle: Training workers:
DBS should train its workers and boost their capability to get the aim of achieving
digitalization. The bank should provide its employees trainings on new skills including customer
management and technical knowledge. This would upgrade the efficiency of the human
resources of the bank and enable it to align its employee performances to the market (Feeney,
Brooke and Nancy.).
Economic logic: Digitalisation:
DBS should strengthen its presence on the digital space on both desktops and smart
phones. The digital platform of the bank should also enable customers to avail services like
payment of bills and other value added services besides the facilities discussed above. The firm
can receive more returns by serving more customers on the digital space.
Differentiators: Product differentiation:

3
SAVING STRATEGY OF DBS
DBS should align its products with the needs of the customers to differentiate itself from
its competitors. The bank should promote itself more aggressively to gain higher degree of
product differentiation in the global financial market (dbs.com).
Alternatives:
The selected alternative of digital space is more powerful and effective. This is because it
would allow the bank to serve more customers on the digital space. Digital banking can can
function as the gateway to two strategies corporate strategies and corporate diversification
strategy, which can in turn lead to cost leadership. This is because digital banking would enable
the bank to sell multiple products both assets and liability products across its markets,
strengthening its diversification strategy. It would also boost the revenue generation of the bank
and boost its market position, thus strengthening its corporate strategy. Digital marketing is
superior to other marketing methods like audiovisual marketing. This is because digital
marketing allow selling of products simultaneously with their promotion and generate revenue. It
can help the bank boost its operations and acquire new customers using appropriate offers.
Digital marketing would also help the bank communicate crucial information like points
accumulated on debit cards which customers can redeem at their convenience. These factors
would strengthen the relationship between customers and the bank. Thus, digital marketing
compared to other promotional tools would enable the bank to strengthen its relationship with
them on real time basis by offering them service.
The weaknesses of digital marketing lies in its high cost and high level technological
level. However, these weaknesses would not affect the level of service and can be overcome by
the bank by several steps. The bank can overcome this high expenditure it incurs due to digital
marketing by diversifying this expenditure over its revenue base. The bank can also levy a

4
SAVING STRATEGY OF DBS
nominal charge for the digital marketing app which would allow it to generate a part of the high
cost from the customers. As far as the technology is concerned, the bank can aim to make its app
more customer friendly and innovative.

5
SAVING STRATEGY OF DBS
References:
"DBS Bank | India". 2018. Dbs.Com. https://www.dbs.com/in/index/default.page.
De la Pena, Alicia Del Socorro, and De Leon. The Role of Online Social Support and Mere
Virtual Presence on Health Goals Maintenance. EGADE Business School, Instituto Tecnologico
y de Estudios Superiores de Monterrey (Mexico), 2015.
Feeney, Brooke C., and Nancy L. Collins. "A new look at social support: A theoretical
perspective on thriving through relationships." Personality and Social Psychology Review 19,
no. 2 (2015): 113-147.
Maier, Christian, Sven Laumer, Andreas Eckhardt, and Tim Weitzel. "Giving too much social
support: social overload on social networking sites." European Journal of Information Systems
24, no. 5 (2015): 447-464.