What are the various alternative strategies

Reference no: EM133504581

Case study:

In April 2018, the Standard Bank Group, which is one of the four biggest banks in South Africa and has a presence in 20 sub-Saharan African countries, cemented its re-entry into Côte d'Ivoire by opening the first branch of Stanbic (the name under which it traded in certain African countries) in Abidjan, the country's economic capital. The bank had operated a representative office in the country between 2001 and 2003, but had exited at the start of the civil war. After Alassane Ouattara ousted Laurent Gbagbo in 2011, peace was restored, governance started to improve and the country started to show an unprecedented economic growth of 9% a year. Thus, when some of its commercial clients asked Standard Bank to open a branch in the West African region, it decided to re-enter Côte d'Ivoire with a view on offering full-service commercial and consumer banking over time. The Standard Bank Group traces its history back to 1863 when The Standard Bank of British South Africa Limited opened its doors in Port Elizabeth. The group focusses its growth strategy on Africa, illustrating this with the slogan: "Africa is our home. We drive her growth." Sola David-Borha, the Standard Bank group's CEO for the Africa Region believes that the bank's success in Africa is due to the fact that its model revolves around its clients, and because the bank clearly understands the challenges and limitations of each country (Masilela, 2018). She took up the position in January 2017 (Financial Nigeria, 2017). Since then, her goal has been to ensure that the Standard Bank Group becomes a major financial institution in Côte d'Ivoire. After its civil war and its return to political stability in 2012, the country showed unprecedented economic growth. Côte d'Ivoire was viewed as a "champion" in West Africa where the economic climate was morose. With an average economic growth rate of 9% per year, the latest World Bank economic update on Côte d'Ivoire noted that a more effective and inclusive financial system would facilitate business development and improve the living conditions of the Ivorian people (World Bank, 2016). Thus, a number of questions were on David-Borha's mind when Standard Bank first considered re-entering Côte d'Ivoire: with Côte d'Ivoire's history of civil war and a banking sector that had let down its population, would Standard Bank be able to offer financial services that could meet the needs of the Ivorian people? Additionally, how could Stanbic expand into personal and business banking (PBB), and was rapid expansion into PBB the right decision?

Question 1: Why did SB select Côte d'Ivoire?

Question 2. What are the various alternative strategies that help firms create a sustainable competitive advantage?

Question 3. What are the five main choices of entry mode that are available to organizations when considering entry into a foreign market?

Question 4. Define and explain these entry vehicles and suggest what you consider the best mode available to Standard Bank?

Question 5. Explain how Standard Bank can offer or phase-in its financial products' offerings, such as Corporate and investment Banking (CIP), Personal and Business Banking (PBB), etc. in Côte d'Ivoire?

Reference no: EM133504581

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