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Citibank's e-Business Strategy for Global Corporate Banking

Analyze the case study based on the questions given below.

1. How does Citibank differentiate its e-business product offering from that of its competitors? How could Citibank create its own competitive advantages in the market place?

2. Citibank's strategic intent is to convert its traditional money management business into an e-business framework. How does Citibank transform its traditional assets into digital assets? What issues, if any, do you envision that Citibank must overcome in order for the implementation to be successful?

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1. How does Citibank differentiate its e-business product offering from that of its competitors? How could Citibank create its own competitive advantages in the market place?

Citibank differentiates its e-business product offering from that of its competitors in a number of ways. They use their brand name to promote their company. Every company does this, and is a huge success because of it. Everyone knows that Citibank is a company in which people can receive financial services, such as open a checking or savings account. Have a network of strategic partners. This may mean partnering with other banks, or with other financial counselors and lawyers. The bank is then able to know how to handle lawsuits if they should come their way. The company makes it possible for customers to serve themselves. When a company allows this option, this probably means that it saves them time and money. A person who does it themselves can get it done faster than someone who has to go to someone behind the counter.

As a result, Citibank probably gets more customers and profit because of how they let others know that they have the opportunity to do it themselves. The word will spread, and profit would easily increase, which makes it worth it. Their services are also web-based. A person can have the option of transferring money, or requesting help with a transaction over the internet on their secured site in order to do what they need to during the day. The services are knowledge-based. This means a person has the choice in learning more about the company while interacting online which sets them apart from their competitors all the more. Every time a person logs in to the site, and contacts customer service, then he or she is going to learn something new. Citibank also uses the e-us as well. In the end, all of these are different ways in which Citibank does stand out ...

Solution Summary

This solution provided ways in which Citibank differentiates themselves from their competitors, and how to transform traditional assets to digital assets along with possible issues for the implementation to become a success.

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Q-4 How does the generic strategy model help in strategy formulation?

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