Bank Of China, Inner Mongolia Branch Of The Bank Card Business Competitive Strategy

With the rapid development of economy and society in our country, bank cards have become an integral part of life instruments for people. The bank card business has become one of the most competitive businesses of China's commercial banks. How to survive and develop in this competitive environment has become almost the same competitive focus for every commercial bank. For this, the author investigates and analyzes the situation and problems of the card business of the Bank of China Inner Mongolia Branch (BCIMB) and expects to provide useful advice for its business development in the future. The paper first reviews the development process of the bank card business and illustrates the current status and problems of the BCIMB. Then, the paper analyzes the region's business environment that will affect the development of bank card business. The analysis includes five factors:'the political factor, economic factor, social factor, demographic factor and law factor. Next, using the Porter's generic strategy theory and strategic clock model, the paper brings forth a competitive strategy for BCIMB. Finally, the article puts forward six strategic measures:perfecting organization structure, expanding customer base, strengthening the acquiring business capacity, speeding up the building of direct sales team, promoting innovation and business development and improving the level of risk control.