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SWOT Analysis

Following are some points of strengths and weaknesses for internal environment and opportunities and threats for external environment respectively.

Strengths

Supportive environment for learning: As mentioned in the report, environment in Soneri in Soneri Bank is conducive for learning and as an internee I was given full support and encouraged to diffuse the knowledge with my learning capabilities. Anyone wanting to be blended in a professional banking environment can be immensely benefited by the Soneri bank’s professional environment. More opportunities for career development thus resulting in more dedicated work force.

Dedicated banking for SME sector: Soneri bank pays special attention to the SME sector thus resulting in a more professional and focused approach for the profound sector. So there is more to learn and serve for this important sector.

Reaching far distant lands like Northern areas thus grabbing first mover advantage: First mover advantage for any organization in any field is the key to become market leader. Same goes for Soneri bank because it has ventured in the northern areas before any other bank and certainly this venture gets Soneri bank a higher position and special position in the minds of people.

Job rotation as a periodic practice thus making the staff knowledgeable about all fields: Job rotation for the staff in Soneri bank is a regular practice. It gives the employees insight in all aspects of general banking thus making them quite comprehensive about the minute details to be an effective banker.

Weaknesses

Less effective software: One of the most visible weaknesses is the software.

Not that the software itself is faulty, but it becomes less effective with the often wavering link with the head office. If a customer returns because he or she was not entertained is definitely not in favor of any organization. So attention should be given to the matter in hand.

Broken down on line links: It is same problem as mentioned earlier. Wavering link often stops the entire working thus resulting in nothing but to wait for the link to become effective again. So of being idle the link should be upgraded as a first priority because broken links makes a no. of services irresponsive.

Broken down ATM network: This is also a staggering problem. ATM’s have become a most essential facility of all the banks and a huge no. of people

gets benefit from them. But it is obviously annoying to see an ATM that is shut out. It may be a problem for the bank in this age of competition.

Relatively less scattered global network: When other banks are venturing in the global network Soneri bank is still falling short of an expansion in the global network. Like mass production, presence is more places may result in an opportunity to compete with other institutions and to make a distinguished place in minds of customers. There is still a huge gap in getting benefit from this aspect.

Opportunities

Establishing foreign branch network: As mentioned earlier opening new branches in abroad will definitely give Soneri bank more insight into the global markets thus making it more responsive to the latest trends in banking.

Capitalizing on information technology: I.T is booming in the current age, so besides taking all measures transfusing I.T in all fields will definitely give Soneri bank an edge for providing quality services.

Extension of serving markets: This is in reference to the above mentioned point. If the bank is present in more locations it will definitely give an opportunity to get benefited by the local responsiveness phenomenon.

Increasing the no of products and services related to online banking: As it is an age of I.T, more products easily attainable by the customers over Internet, more will be the credibility of the bank in their minds as a quality service provider.

Threats

Increasing no of private and international banks: Recently no of new banks have ventured in Pakistani banking industry and also there have been a no of

distinguished organization because perception precedes action and amongst all the tough competition it will be a challenge to formulize a favorable perception in the minds of potential customers.

Advanced and sophisticated software used by other banks: Software is the core of banking these days. Like Habib bank uses Misys (Management Information System) and National bank uses CAMS (Computer asset management system). More effective soft ware will ultimately lead to better, effective and efficient banking solutions. So unless effective and comprehensive software is not obtained competing with other banks will be difficult.

Strict focus on SME sector: Soneri bank pays special attention to the SME sector and it is a healthy practice but other sectors also need to be given proper attention and priority as well because attention in one sector and negligence in the other might v\create an imbalance.

Unstable economic condition: Taking into consideration the recent economic turmoil that has shaken the economy of whole world, all banks need to be careful to be vigilant for any uncertain condition.

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