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    Strategic Planning: Bank of Queensland

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    sahil
    Bank of Queensland (BOQ) is one of Australia's oldest and most trusted financial institutions. It has 160 branches across Australia. While BOQ has many competitive advantages like various deposit schemes and widespread ATM access, it also faces weaknesses such as lower interest rates than competitors and issues with its online banking infrastructure that crash frequently. To sustain its position against stronger rivals, BOQ must improve its technology and raise interest rates to maintain customer loyalty.

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    Strategic Planning: Bank of Queensland

    Uploaded by

    sahil
    49 views13 pages
    Bank of Queensland (BOQ) is one of Australia's oldest and most trusted financial institutions. It has 160 branches across Australia. While BOQ has many competitive advantages like various deposit schemes and widespread ATM access, it also faces weaknesses such as lower interest rates than competitors and issues with its online banking infrastructure that crash frequently. To sustain its position against stronger rivals, BOQ must improve its technology and raise interest rates to maintain customer loyalty.

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    Bank of Queensland (BOQ) is one of Australia's oldest and most trusted financial institutions. It has 160 branches across Australia. While BOQ has many competitive advantages like various deposit schemes and widespread ATM access, it also faces weaknesses such as lower interest rates than competitors and issues with its online banking infrastructure that crash frequently. To sustain its position against stronger rivals, BOQ must improve its technology and raise interest rates to maintain customer loyalty.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    49 views13 pages

    Strategic Planning: Bank of Queensland

    Uploaded by

    sahil
    Bank of Queensland (BOQ) is one of Australia's oldest and most trusted financial institutions. It has 160 branches across Australia. While BOQ has many competitive advantages like various deposit schemes and widespread ATM access, it also faces weaknesses such as lower interest rates than competitors and issues with its online banking infrastructure that crash frequently. To sustain its position against stronger rivals, BOQ must improve its technology and raise interest rates to maintain customer loyalty.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 13

    Strategic

    Planning
    Bank of Queensland
    Introduction
    + The point of this project is to focus on a real-world
    organization and the identification and analysis of it’s
    competitive advantage.
    + This project includes information gained from hours of
    research on the selected organization, Bank of
    Queensfield, about it’s working and competitive
    advantage (Trembizki, et al. 2017).

    2/2/20XX PRESENTATION TITLE 2


    Overview
    • Bank of Queensland (BOQ) is Australia’s one of the
    most trusted and oldest financial organization based on
    Brisbane, Queensland. So far the retail banking
    institution has 160 institutional branches spread all over
    Australia, with 65 corporate branches and 95 local owner
    manageable branches.
    • The Bank of Queensland is ranked among one of the top
    hundred Australian institutions by market capitalization
    on the Australian Security Exchange.
    • Bank of Queensland also got its name inscribed on the
    Queensland Business Leaders Hall of Fame in 2014 due
    to its trusted providing of banking facilities to
    Queensland fore more than a century and its growth
    nationally (Stanford, 2020).

    2/2/20XX PRESENTATION TITLE 3


    Internal and External
    Environment
    • External Environment:- Every events that
    happening outside the company that have
    the potential to affect the company can be
    referred to as its external
    environment( Godwin,2017).
    • Internal Environment:- A corporate
    environment inside the organization that has
    a direct and specific implications on the
    company can be termed as the internal
    environment.

    2/2/20XX PRESENTATION TITLE 4


    Competitive Advantage
    Bank of Queensland clearly topples other banking institutions by providing the following features:-
     Works with a maximum efficiency and their employees are specially trained to always help like
    friends to each and every customers which are clearly evident to all the positive reviews they get
    on social networks like Quora, LinkedIn etc. Also in 2007, the customer satisfaction of the bank
    stood at 88% (Namugenyi, Nimmagadda, & Reiners, 2019).
     BoQ’s are open 24X7 for the benefits of our customers unlike most of the other financial
    organizations here which remains closed on weekends.
     Providing internationally recognised debit and credit cards to clients.
     BOQ has a scheme where an individual can open a zero balance account which means that there is
    no lower limit for the deposits in that account which most of the banks don’t provide.
     BOQ’s Automated Teller Machine (ATM) facilities are spread throughout the country and
    constitutes the maximum number.

    PRESENTATION TITLE
    2/2/20XX 5
    SWOT Analysis
    Strength Weakness Opportunities Threats
    Online banking Stronger brand
    Desire of
    Multiple money deposit facilities fail to names of other
    customers for
    schemes provide assistance banking
    reliability and trust.
    most of the time. competitors
    No other
    Internet as a
    Rate of interest competing banks
    Scheme for creating a Zero marketing tool. It
    lower than that of are currently
    balance account. has to repair its
    other banks providing zero
    internet server.
    balance accounts.
    At present other
    Higher responsiveness to banks are getting
    customer demands negative customer
    2/2/20XX PRESENTATION TITLE
    reviews 6
    The Weakness
    Although the bank seems to have competing advantage but if
    the working and assistance goes on like this then it has a
    higher risk of failing commercially.
    The recent reviews from the users seems devastating as most
    of them are having complaints with the server breakdown of
    the bank resulting in a problem for internet banking holders
    (Jobs ,2017).

    Because of the currently ongoing pandemic, every 8 out of


    10 people are totally dependent on internet banking facilities.
    With this increasing number of technological dependencies
    in people, Bank of Queensland is perhaps one of the few
    banks to have been facing technological issues most of the
    time.

    2/2/20XX PRESENTATION TITLE 7


    The Strength
    • Bank of Queensland provides an ample of schemes. One of the most popular being the
    creation of an account without any money depositing in it, the Zero Balance account. An
    individual can create a bank account and doesn’t have to fear for the lower limit of the
    deposit.
    • Some of the other banks provide this scheme but only for students and minors while the
    Bank of Queensland provides this for every user who wishes to, only the rate of interest
    is a slightly fewer in this case than the others (Bainbridge & Lunt, 2021).
    • Throughout Australia the maximum number of Automated Teller Machines (ATMs) is of
    Bank of Queensland’s. Also the main branches are open 24X7 for the benefits of the
    customers.

    2/2/20XX PRESENTATION TITLE 8


    Future Sustainability

    • The threats are increasing as the institute is unable to provide a stable traffic on their
    website which are leading to the failure online baking facilities.
    • As soon as the number of simultaneous users are increasing on their websites, it is
    crashing then and there.
    • People will have to get more and more accustomed to the internet which may led to
    the collapse of the organization if they do not work on this fault of them (Damenu &
    Beaumont, 2017)

    2/2/20XX PRESENTATION TITLE 9


    Improvement

    • The rate of interest for the savings account in the Bank of Queensland is relatively low
    as compared to the other competing organizations.
    • The one and only primary reason for its fame is because of its trust and reliability
    since over a century but if it does not work on its facilities then its market might fall
    down eventually.
    • So, the crucial thing to be focused upon is the incrementation of the rate of interest.

    2/2/20XX PRESENTATION TITLE 10


    Conclusion
    + From the following discussion it is clear that the Bank of Queensland
    certainly has prospects as it seems to give an ample of facilities to its
    customers. Already the retail bank is having its name among people so
    the only thing that it should focus on is its facilities and workings.

    + The competitive advantage of the bank seems to be high overall.


    Other banks are currently running low on competition but with the
    ongoing breakdown of BOQ’s online traffic response, there’s a chance
    that to fall down among its competitors.

    2/2/20XX PRESENTATION TITLE 11


    References
    + Trembizki, E., Buckley, C., Bletchly, C., Nimmo, G. R., & Whiley, D. M. (2017). High levels of macrolide-resistant
    Mycoplasma genitalium in Queensland, Australia. Journal of medical microbiology, 66(10), 1451. retrieved from
    https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5845567/
    + Stanford, J. (2020). The rise and fall of Land Banks in Queensland. Queensland History Journal, 24(5), 502-518.
    retrieved from https://search.informit.org/doi/abs/10.3316/ielapa.068532086914112
    + Godwin, L. (2017). The fluid frontier: central Queensland 1845–63. In Colonial frontiers. Manchester University
    Press. Retrieved from https://www.manchesterhive.com/view/9781526123800/9781526123800.00015.xml
    + Namugenyi, C., Nimmagadda, S. L., & Reiners, T. (2019). Design of a SWOT analysis model and its evaluation in
    diverse digital business ecosystem contexts. Procedia Computer Science, 159, 1145-1154. retrieved from
    https://www.sciencedirect.com/science/article/pii/S1877050919314802
    + Jobs Queensland. (2017). Positive futures: apprenticeships and traineeships in Queensland: building on the
    strengths of the apprenticeship and traineeship system. Retrieved from https://www.voced.edu.au/content/ngv:80439
    + Bainbridge, L., & Lunt, N. (2021). Place, Strengths and Assets: A Case Study of How Local Area Coordination is
    Supporting Individuals and Families Under Conditions of Austerity. British Journal of Social Work. Retrieved from
    https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7989567/
    + Damenu, T. K., & Beaumont, C. (2017). Analysing information security in a bank using soft systems
    methodology. Information & Computer Security. Retrieved from
    https://www.emerald.com/insight/content/doi/10.1108/ICS-07-2016-0053/full/html

    2/2/20XX PRESENTATION TITLE 12


    Thank
    You
    2/2/20XX PRESENTATION TITLE 13

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