Organizational strategies are the means through which companies accomplish their missions and goals. Successful strategies address four elements of the setting within which the company operates: the company‘s strengths, its weaknesses, the opportunities in its competitive environment, and the threats in its competitive environment. This set of four elements—strengths, weaknesses, opportunities, and threats-when used by a firm to gain competitive advantage, is often referred to as a SWOT analysis. SWOT was developed by Ken Andrews in the early 1970s.
An assessment of strengths and weaknesses occurs as a part of organizational analysis; that is, it is an audit of the company‘s internal workings, which are relatively easier to control than outside factors. Conversely, examining opportunities and threats is a part of environmental analysis-the company must look outside of the organization to determine opportunities and threats, over which it has lesser control.
Strength and weakness are the internal factors of the organization and which are controllable.
Opportunities and threats are external factors of the organization and which are uncontrollable.
Strengths
The strength of the Karnataka Co-operative Apex Bank depends on their external and internal environments which are:
The bank operates only in Bangalore due to its limited area it is easy to monitor minor requirements of the customers which may be ignored by other banks.
The bank provides the easiest way to open a new account into any of its branch as the customers has to fill minimum requirements.
The bank has the branches in the remote areas where the branches of other banks are not yet opened which give the bank edge over the other banks.
As the bank is a co-operative bank thus bank gets the advantage of getting priority by the different cooperative societies for transactions and loans.
Due to the co-operative bank nature of the bank people have faith in the bank.
Co-operative staff is the main strength of the bank.
Adherence to cooperative values and principles.
Karnataka State Co-operative Apex Bank has deep roots in the community.
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Karnataka State Co-operative Apex Bank considers the users of funds not only the customers but also the member of the bank.
It has great amount cooperation with other district cooperative banks.
Karnataka state Co-operative Apex Bank focuses on the person of limited means and the poorer section of the society.
The main priority of Karnataka State Co-operative Apex Bank is member services rather than profit.
Karnataka State Co-operative Apex Bank has the capacity to thrive in crisis.
Weakness
Karnataka State Co-operative Apex Bank has less resources‘ as compared to the other nationalized and public banks.
Political pressures on the employees of the bank as compared the other banks.
There is some sort of government control over the working of the bank.
No internet banking and mobile banking.
Less advertisement is other weakness of the bank.
Due to the restricted area the total capital of Karnataka State Co-operative Apex Bank is limited.Opportunities
Being a Co-operative bank it has the opportunity to finance the government projects.
As it is a state Co-operative bank, this bank is bank in demand.
Being operative bank this bank this bank gets priority over the other banks for Co-operative societies.
Bank should open branches in other states of the country.
Bank may take the advantage of being Co-operative bank by promoting itself.Threats
The main threat to Karnataka state Co-operative Apex Bank is increasing steps/roots of the public banks.
Easy policies of the public banks.
Less documentation of the public banks for different types of loans.
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Instant/one minute service provided by some banks.
Online banking and mobile banking facilities of other nationalized and public banks.
Increasing market share of the other banks threaten Karnataka State Co-operative Apex Bank lose its position in the market.
More significant brand image in public acceptance of product and services of public and nationalized banks as compared to cooperative banks.
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SUGGESTIONS Suggestions
To run any organization successfully the management needs to think always for the betterment of their service and product, every time there is a chance of improvement in the functioning of every organization specially when we talk about the banking sector in past there is very less or no competition in the market and the banks has no pressure to provide better facilities to the peoples but in recent years the competition is increased due to the entry of the public banks and other money lending units. Considering this the state cooperative banks need to be more careful and needs to take such step which favors them to stay ahead in the market. Some of the suggestions and recommendation are given here which may help Karnataka State Co-operative Bank to stay in the competitive market if they adopt these:
In order to be competitive in the market, all three segments of co-operative banks should jointly work out a coordinated strategy for establishing workable synergy to compliment and supplement each other.
CEO should take steps to promote the officials suitable for the DGM post which has been vacant for a long time.
The bank should recruit more clerical staff in order provide better customer services.
In order to have a competitive edge over other co-operative banks, it has to implement new strategies keeping in view the market, regulatory framework and co-operative values.
Healthy relationship should be established with the customer.
More mass awareness campaigns should be organized in order to enhance market share of bank.
Customer‘s satisfaction must be the top priority of the bank.
More branches should be opened at the remote areas.
Core banking facilities should be adopted.
Maximum practical exposure should be provided to the job trainees so that they may handle the various enquiries of customer effectively.
Functioning should be fast i.e. the time taken to do any work should be reduced efficiently.
Online banking should be provided to customers for their batter service.
Customer‘s care center should be established.Bangalore Institute of Management Studies Page 64
BIBLIOGRAPHY
Books
o Management of urban Co-operative Bank by Dr. ParthoPpratim R
o Organization behavior by Stephen Robinson
o P. Subba Rao, Human Resource Management, 3rd edition, Himalaya Publishers, Year-2003.
Reports
o Apex bank Profile
o 96th Annual Reports of Apex Bank
Websites
o www.karnatakaapex.com o www.nabard.org
o www.moneycontrol.com o www.timesmoney.com o www.rbi.org
o www.bankingindia.com o www.bankersindia.com