The Research On Competitive Strategy For Brokerage Business Of Z Securities

With the development of science and technology,mobile Internet technology is closely related to the lives of residents.In 2015,the term "Internet +" has changed the business form of every industry since its birth.At the same time,the development of securities brokerage business encounters bottlenecks.Brokerage business is one of the traditional basic business of the securities industry,and also the main source of income of the securities industry.With the decline of commission rate in the industry,the income of securities companies' brokerage business has been decreasing year after year,and the competition is very fierce.In the period when the brokerage business is in urgent need of transformation to find new revenue growth point,the attempt of "Internet+ securities" has opened a new direction for the transformation of securities brokerage business.The main research object of this paper is the brokerage business of Z Securities.As an old-brand securities company developed locally,brokerage business has always been the main source of profits of Z Securities.The opportunities of its external environment are as follows:the gradual improvement of industry policy,the support of supervision and the active promotion of the transformation of securities brokerage business,the increase of per capita disposable income of Chinese residents,which stimulates the investment demand of residents,rapid development of A-share market with abundant trading varieties,market activity simulated by abundant capital tools,financial management awareness brought about by the improvement of residents' education level,new services and marketing methods provided by the development of Internet technology,etc.The main threats are as follows:the relaxation of industry access threshold leads to the increase of external entrants,and the homogenization of services in the industry seriously leads to fierce price competition,the improvement of customers' bargaining power led by policies such as floating commission and online account opening.Its internal environmental advantages include:relatively complete industry licenses,importance to the transformation of brokerage business attached by leadership,perfect business functions and complete business lines,strong investment and research strength of management companies and research institutes,abundant products provided by fund and futures subsidiaries,company's emphasis on introducing talents,training excellent front-line employees,industrial competitive mobile APP construction,huge marketing service staff,the rich online service channel and the high quality service;the main disadvantages are:the business structure which lacks competitiveness,high proportion of brokerage business income in the main business income,unclear powers and responsibilities of the brokerage business department,overlapping business operations,uncompetitive salary system,the age gap of the staff of the business department.high financing cost,weak product competitiveness,single marketing tools,market expansion ability,etc.The purpose of this paper is to study and formulate competitive strategy for Z Securities brokerage business.By using SWOT analysis tools and quantitative planning matrix(QSPM matrix),adopt differentiation competitive strategy after compare and analyze three basic competitive strategies.Implementing measures include refinement of service content,optimization of service system,combination of online and offline advantages for marketing activities,and improvement of traditional operation efficiency.This paper hopes to provide a scientific basis for Z Securities to further maintain and enhance the competitiveness of brokerage business,and also hopes to provide information support and decision-making reference for managers of other securities companies.