Research On The Competition Strategy Of Inclusive Financial Business Of W Bank

In recent years,with the implementation of the national plan to promote the development of Inclusive Finance,domestic banks have begun to make efforts to carry out inclusive finance business.Large state-owned banks and many joint-stock commercial banks have also expanded their business scope from the original large and medium-sized enterprises to small and micro enterprises.By virtue of their own scale and technical advantages,these banks,through the research and development and promotion of inclusive financial products,not only expand the inclusive financial market,but also quickly seize and obtain high-quality customers,which has brought huge competitive pressure to small and medium-sized banks that originally occupied a place in the inclusive financial business.Under the influence of the epidemic in 2020,many small and micro enterprises and individual businesses have also fallen into business difficulties,and the domestic inclusive financial market environment has changed dramatically in the short term.Taking 2018 as a turning point,W bank’s inclusive financial business experienced a lack of new customers,a decline in the number and quality of existing customers,and gradually fell into a disadvantage in the competition with the industry.In order to solve the problems in W bank’s inclusive financial business,this paper takes w bank’s inclusive financial competitive strategy as the main research object.After introducing the basic situation of W bank,the macro environment and industry environment of W bank’s inclusive financial business are analyzed by PEST analysis method and Porter’s five forces model respectively,and an external factor evaluation matrix(EFE)is formed;Through the value chain theory and SWOT analysis,the internal environment of W bank is analyzed,and then the internal factor evaluation matrix(IFE)is formed.Through a comprehensive evaluation of the internal and external environment and its own situation of Bank w,the competitive strategy suitable for the development of Bank w’s inclusive financial business is selected.The purpose of this paper is to study and formulate appropriate competitive strategies for W bank’s inclusive financial business.The SWOT matrix and QSPM matrix are used to compare and analyze the three basic competitive strategies,and it is determined that w bank is suitable to adopt a differentiated competitive strategy.Specific implementation measures include product and service differentiation,customer differentiation,and management differentiation of different branches.The safeguard measures include strengthening enterprise culture construction,strengthening human resource management,improving digital technology management and improving risk management mechanism.In order to ensure the effective implementation of the competition strategy,the purpose is to provide reference for W bank to improve its competitiveness in inclusive financial business,and also hope to provide certain support and reference for the selection of the business competition strategy of the same type of urban commercial banks.