Research On The Development Strategy Of JNNS Bank Micro-credit Business

JNNS Bank is a representative of the regional rural commercial banks in S Province.Its micro-credit business was formally launched in February 2017.As one of the core credit services of JNNS Bank,the micro-credit business has focused on alleviating the difficulties of small and micro enterprises' short-term cash flow and the slowness of small funds.It is constantly working on product innovation and service innovation in order to drive JNNS Bank's overall operating conditions improved.However,as a start-up business,JNNS Bank's micro-credit business has no clear development strategy currently.This paper believes that under the background of the urgent need of commercial banks for transformation and the vigorous development of Internet finance,JNNS Bank's micro-credit business urgently needs appropriate development strategies to guide it.This paper first analyzes five sides of development status including of the JNNS bank's business model and organization structure of the micro-credit business,and then analyzes three problems of development bottleneck including of the lack of independent strategic deployment;second,using value-chain analysis method and PEST analysis method,sorted out the internal and external environment.By analyzing the development status and development bottleneck of the JNNS bank's micro-credit business,this paper mainly summarizes the characteristics and shortcomings of its development.At the same time,it combines the strategic scanning and analysis of the internal and external development environment and strives to lay the foundation for a complete development strategy.In formulating the JNNS Bank's development strategy for micro-credit business,in line with the goal of fully integrating the background of Internet finance,this paper first applied the Porter Five Forces analysis method to the competition environment of JNNS Bank's micro-credit business under Internet finance.The appraisal,combined with the development strategic mission of “giving benefits to the people” and the development strategic vision of “first-class service,first-class innovation,first-class efficiency,and first-class efficiency”,this paper formulated market penetration strategy and diversification strategy as specific development strategies in both short-terms and long-terms.And in order to ensure the smooth implementation of the development strategy,this paper further proposes six organizational safeguards such as organizational restructuring and process reengineering,willing to provide clear and feasible strategic ideas for the development of micro-credit business of JNNS Bank.