Get Full Essay Get access to this section to get all help you need with your essay and educational issues. Get Access Blue Ocean Strategy Essay Sample According to Cham Kim and Renee Mauborgnethe Blue Ocean strategy involves the description of how the organization should try and proceed to find some way to work in the marketplace that is not bloodied by the competition and also that is free of competitors.
Hire Writer History Capitec Bank was founded on the 1st of March and built back on its micro credit business, keeping in mind its intention to establish a proper bank in the microfinancing platform Manson, Microfinance is a term used to describe the provision of financial services in addition to microcredit to small businesses and the bottom of the pyramid BoP population van Themaat et al, Based on statistics it is found that BoP is more than two thirds of the population that survive on bare minimum income van Themaat et al, Furthermore Finscope estimated that 35 percent of the total population in SA have never banked or used any financial service to manage their finances.
With relation to the above, it is recognized that other financial institutions overlook serving the BoP as they are perceived as non-profitable Coetzee, However on the other hand, Capitec recognised this market as a window of opportunity as the majority of this population remained unbanked due to the many constraints that prevented them from obtaining financial services van Themaat et al,Robin et al, The bank implemented its profit-driven strategy by customising its services and products to the needs of the BoP to achieve the following: Acceptability, Availability, Affordability and Awareness, thereby overcoming the constraints that existed.
Coetzee,van Themaat et al,Robin et al, This approach deemed successful which has resulted in an increase of market share with These aspects used by Capitec Bank to penetrate the banking sector will be discussed in this paper.
Acceptability As mentioned previously in the history, Capitec overcame many constraints that had previously left the BoP sector unbanked. The founders of Capitec critically evaluated the BoP and found that many are embarrassed by their lack of education, skills, literacy, are unable to afford basic financial services and that their perceptions of banking is that it is complicated, expensive, difficult and time consuming van Themaat et al, Capitec offers a simplistic and acceptable approach to banking which has changed these perceptions taking into consideration that the Bop are first time users.
Overcoming the lack of confidence and literacy skills in first time BoP clients was achieved by the paperless IT and management information system van Themaat et al, This also incorporated biometric identification using fingerprint technology and cameras to identify their clients which creates ease of use and quicker response time van Themaat et al, Overcoming the language barrier was achieved by employing staff from the local communities.
Robin et al, Coetzee, By treating their customers with respect, this increases the emotional appeal to the BoP population.
As compared to service in a big four branch, the Bop customer is treated as inferior and unvalued, therefore Capitec defines it focus by customer and not by income van Themaat et al, Coetzee, The management IT system is centrally controlled, increases simplicity and customer value by reducing administration costs, paper work, prevents fraud and keeps track of transactions using fingerprint biometrics.
Opening an account takes ten minutes. After credit evaluation and approval, the loan application process is as follows: This further proves that the strategy of simplifying its service implemented by Capitec appeals to the Bop population allowing Capitec to penetrate the banking sector.
According to Planting Capitec Bank has extended their business banking hours.Blue Ocean Strategy Essay Sample. According to Cham Kim and Renee Mauborgne (), the Blue Ocean strategy involves the description of how the organization should try and proceed to find some way to work in the marketplace that is not bloodied by the competition and also that is free of competitors.
Innovation Strategy Essay Sample. The pad will enable client to charge their devices while they enjoy their favorite meal; Starbucks will be recognizing this new technology naming it “Duracell Powermat”.
since then it has been using it as a target to attract client. An example to this is that in , 95% of the devices in the. Constraints On Strategy Research Paper This sample Constraints On Strategy Research Paper is published for educational and informational purposes only.
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Client Interaction Strategy Monique George LDR /Leading Change August 5, Nicole Seldon - Facilitator Client Interaction Strategy As the consultant for Kudler Fine Foods, communications with individuals on various levels of the organization is inevitable.
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Leave your email and we will send you an example. Oct 23, · Teaching Strategies Essays (Examples) Length: 2 Pages Document Type: Essay Paper #: Teaching Strategy for Special Ed Special Education Standard The following paragraphs will outline a particular example of a strategy used to build relationships and strengthen culture in an educational institution .