Studies On The Transformation Of The Business Strategy In Changchun Haoyue Road Sub-branch Of Bank Of China

The rapid development of the internet finance since2013which has brought agreat impact on the traditional banking industry became a hot topic and attracted theattention from all walks of life. As it exerts its influence on the conventional bankingpractice with its achievements made in a short span of time, the internet finance alsotriggers the reflections of the banking practitioners on the future developmenttendency of the banks. The operational sub-branches of banks which function as thebasic units of the banks in the market are literally the most sensitive to any changestaking place in the market. Therefore, in the horizontal competition of the traditionalbanks, the transformation of the operational sub-branches is one of thewidely-discussed topics. As the influence of the internet finance became a focus ofthe public, both its management style quite different from that of the traditional banksand its specific internet ideology can serve as a reference for the transformation of theoperational sub-branches of the traditional banks in the broader sense.Based on the case research of a specific operational sub-branch of the bank, thepaper tries to find out the business strategy most suitable for the situation of it byreferring to the experience of the other banks and the internet finance according towhat is happening in the sub-branch. The paper is expected be used as the referencefor the traditional banking outlets with its analysis and discussions of the specificoutlet.Based on the combination of the theoretical analysis and the practical research,the author of the paper will compare Changchun Haoyue Road Sub-branch of Bank ofChina with its competitors by means of comparison and reference in order to find outits strengths and weaknesses. Eventually, the author aims to figure out what is thebusiness strategy most suitable for the practice of Haoyue Road Sub-branch based onthe analysis of the other banks on their attempts for the future development and business patterns and applications of the internet ideology to the business thinking ofthe traditional banks.The paper to some extent innovative, for it suggests that the operationalsub-branches should try to get rid of the constraint of the conventional businessthinking, analyze the reality they are confronted with, utilize what they have andtransform the business strategy by reference to the thinking patterns and attempts ofthe competitors so as to achieve the transformation of their business strategy at alower cost. In the paper, the author suggests that the operational sub-branches shouldrefer to the ideology of “big data”,“personalized service for customers” and“experimental service” of the internet finance and pay closer attention to the dailycustomer maintenance in order to bring the customers total different experience ofbusiness handling from the other banks with their own characteristics.Based on the analysis on what Haoyue Road Sub-branch is confronted at present,the paper will firstly analyze the necessity of the transformation of the businessstrategy of the sub-branch according to the internal and external environment of it andthe attempts some of the domestic banks made for the transformation. Then, the paperwill make some preparation for the following application of the SWOT analysisaccording to the background of the transformation of Haoyue Road Sub-branch.Finally, what the sub-branch should focus during the course of transformation will bepushed forward based on the reality of the bank and the significance of the internetfinance in the banking operation with the purpose of proposing the specific measuresof the implementation of the transformation strategies and the relevant supportingmeasures.