The Strategies that Mountain Bank Should Implement to Achieve a Essay

The Strategies that Mountain Bank Should Implement to Achieve a Competitive Advantage - Essay Example Since the Swiss and European banks operate in a different way, this new scenario poses new challenges for implementing controls. In order for Mountain Bank to thrive in its sphere, it is crucial that it implements certain elements in its practice. For instance, it must understand the specialty of its product. Will it penetrate e-banking? Will it accommodate to student loans or mortgage? Deciding to penetrate a target market is the first step towards achieving competitive study. Since Mountain Bank offers many business services, such as retail banking, lending, real estate and corporate banking, it must complete a SWOT analysis to understand the true essence of profitability that each sector can give. Banks, such as Chase and PNC, utilized the points system and spending methods to attract customers. Similarly, Mountain Bank must develop a unique core strategy that creates customer value overtime. Another crucial element that Mountain Bank must embed in its organization in order to gai n a competitive advantage is to enact a cost leadership strategy. It is clear that the mortgage sector has been struggling for years as the recessive environment continues to hurt the economy. Thus, the clear way channel to penetrate the cost leadership strategy is to focus on commodities that other financial banks are not exploiting. Introducing a higher rate for savings account can dramatically be one of the innovative solutions towards creating a brand revenue channel. 2.Describe the types of practices a human resource professional should recommend for Mountain Bank with respect to its tellers, based on the universalistic approach and commitment strategy.   As a premier bank, it is essential that human resources individuals continue to implement strict rules of the Sarbanes-Oxley Act along with strict auditing standards to achieve an excellent commitment strategy. The goal is to excel in providing customers with products that accommodate to their needs while adhering to strict standards that deter frauds. Another element that is crucial in developing these criteria is enterprise risk management system which is applied in order to mitigate the risks that can plague banks such as frauds or bad investments. Moreover, the economy in the past years has been weak, not to say the least. Banks have been defaulting in loans as creditors have failed to pay their loans. These trickled effects have been a domino effect internationally. When one bank is hit by a fraud, it has a dynamic impact throughout the banks in the international front. The bank already was mounted with numerous amounts of risks and troubles prior to this massive problem. The Wall Street Journal reports that many banks, such as UBS, were charged $2 billion for conducting unauthorized trades. Such practices have to be eliminated in order to achieve a higher level of efficiency. 3.Discuss the four human resource strategies (internal/cost, external cost, internal/differentiation, and external/differe ntiation) that may be implemented within an organization.   The four human resource strategies that are associated with internet and external cost and differentiation can be implemented in many ways. First and foremost is the fact that the HR must enact a means of benchmarking organizational performance. An organization performance examines the HRM-firm performance link and allows the bank to evaluate their methodological challenges of measuring