Competitive Advantage for Scotiabank in the Caribbean

The Royal Bank of Canada experienced some fundamental managerial errors in May 2003. It was reported as a major “glitch” that had been caused by wrong configuration during the installation process. A simple problem had severely affected the lives of millions of people. In this essay I will discuss the security and control problems such as the simultaneous upgrade of both the main and back-up systems. This will lead into the strategies management could have used to prevent these problems happening in the first place and what they can do differently in future. I will also explain how management neglected the public relations side of the issue which had customers questioning the reliability and stability of Royal Bank of Canada ultimately

Although the Canadian Bank oligopoly has traditionally been uncontested, the environment in which they operate is experiencing significant change. In order for retail banks to remain relevant in a decade, they must make significant changes to their business model. International political landscape tensions hinder international ambitions of banks and while the increased regulation is viewed as an additional burden, it is currently one of the rare forces keeping new entrants from dominating the entire industry. The Canadian population is facing a significant shift affecting the banks environment, their customer base includes an increasing proportion of millennials, women and visible minorities. Canada has the second largest population of foreign born habitants, and due to mass migration this trend will intensify.

1. Visit the website of a large national bank, regional bank, or credit union, and use the information you find there to answer the questions below. EXAMPLE: Some large banks you might consider include Bank of America®, JPMorgan Chase®, Wells Fargo®, Citibank®, and U.S. Bank®.

A small company established in Saskatchewan, Canada, Technon had been doing most of its commercial banking through a local credit union (small, local

Evaluate RBC strategy and organizational structure. Is RBC well equipped to compete with niche operators such as internet-only banks with focused product offerings?

After my return from Germany, I worked in Parksville BC as a server at a local restaurant and focused on saving money for school and developing interests. When in Parksville I began commuting to University in Nanaimo at VIU. At a career fair at VIU I met a representative from TD Bank, who told me about the vibrant, customer focused culture

Anderson, P. L. (n.d.). Price Elasticity of Demand [Mackinac Center]. Mackinac Center: Advancing Liberty and Opportunity. Retrieved March 13, 2013, from http://www.mackinac.org/article.aspx?ID=1247

Capital One is a banking company that is focused on credit cards and consumer loans. The company also has some minor international operations in Canada and the UK, primarily in the credit card business. The company breaks down its business as follows. Credit cards are the major source of income, accounting for $10.4 billion in revenue, or 64% of the total revenue for the company. Consumer banking accounts for 31% of the revenue, commercial banking a further 10% of the revenue, and the company has negative revenue on "other" businesses. The credit card business is the most profitable, generating $2.277 billion in profit, or 70% of the company's total net income. Consumer banking accounted for 25% of total net income, while commercial banking accounted for 16% of total net income.

In both jobs, I earned CAD$ 14 per hour, which are about 10€. I was paid bi-weekly, whereas Aspen paid with paycheques and Ardene via direct deposit. To get my money I had to establish a bank account with a Canadian Bank. I chose CIBC (Canadian Imperial Bank of Commerce) since they offer a free account for one year.

Canadian Imperial Bank of Commerce or CIBC as most know it, has been operating since 1867. They are a profit corporation that offers public banking and financial services to individuals, small businesses, and also other corporations. CIBC is a Canadian corporation that has branched out and now does business in Europe, Asia, Australia, Latin America, and of course The United States (Wikipedia).

1. At the start of the 21st century, RBC was Canada’s leading bank and largest bank in terms of assets and market capitalization. It was a full-service bank with five main lines of business: personal and commercial banking, insurance, wealth management, corporate / investment banking, and transaction processing. The commercial bank of RBC (Royal Bank) accounted for nearly 50% of the company’s net income and had an extensive delivery network with branches, Automated Banking Machines (ABM’s), point of sale terminals, mobile sales staff, and 1.4 million online banking customers and 2 million phone customers. The bank also had an extremely strong international network.

The Scotiabank is one of the world’s most popular banks in North America and is located in Canada, Halifax. Founded in 1832, Scotiabank came to be the second largest bank in Canada. A year after its development, Scotiabank paid out its first dividend to shareholders. Having marked the method in history, it was carried out through the golden era to the modern era and is yet continued to this day. Scotiabank provides innovative financial products and services to individual customers, small/medium sized business, corporations and governments across the world.

The objective of this report is to analyze and evaluate Scotiabank’s primary business activities and financial data to determine whether or not it would be a good employer of recent University of Calgary graduates. This report includes sections such as company introduction, marketing and operations management, corporate social responsibility and recent issues, and financial information.

“ Our mission is to be a Premier Bank in the Asia- Pacific region, committed to providing Quality Products and Excellent Customer Service.”

“We aim to become a super regional bank. This involves growing our presence in the Asia pacific region and sourcing 25-30% of earnings from our Asia Pacific Europe and America division by 2017, while also being very focused on growth in our core domestic businesses in Australia and New Zealand.”