SWOT analysis refers to strategic planning commonly used to evaluate the strengths, weaknesses, opportunities, and threats involved in a company or an organization.
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Canadian Pacific International Bank has a strong distribution network. The company has expanded its operations beyond domestic markets. It has many branches; hence it avails products and services to customers conveniently. The company offers extensive training and development programs to its employees. This equips them with relevant skills for quality service delivery.
Evidently, the company’s process of hiring employees is poor. It is explicit that employees are hired without ascertaining the need. This implies that some employees will be redundant. Notably, the management practices embraced by the company have several limitations. The company does not have well-established rules and regulations which guide employees in the working environment. Employees are transferred from one branch to another without specific reasons. The company has been losing employees due to its ineffective reward system, as evident by the fact they are not rewarded based on their efforts and contributions.
The company can employ new technologies to enhance efficiency in various operations. This would guarantee cost-effective production thus can offer quality products and services at a reasonable price. Basically, the banking industry is not saturated; hence the company can access a large number of customers by opening other branches in new markets.
Canadian Pacific International Bank has been losing its employees to competitors and other industries. For instance, George Burns left the company and joined Bank of Winnipeg. In recent times, customers tend to value quality service from businesses. CPIB’s poor customer service is very dangerous as the company may lose customers of its competitors.
The success of a business organization depends entirely on the customer base. Therefore, enterprises must strive to attract and retain a large number of customers through quality products and services. It is vital for firms to undertake environmental scans on various areas that affect marketing decisions. This covers both internal and external situations. This is often referred to as situation analysis.
Situation analysis of Canadian Pacific and International Bank
Company (Canadian Pacific and International Bank)
The company’s main objective is to provide quality services to its customers. However, employee-related problems are likely to pose a great deal of challenges in achieving this dream unless the company shifts its focus on motivating employees. This is paramount because it guarantees effective business operations.
Canadian Pacific and International Bank have a larger market share since it has several units or branches both in domestic and international markets. It has a good distribution network; hence it can access a large number of customers than most of its competitors in the industry.
The banking industry has a large number of key players that compete for customers. Most of the banks have laid down strategies on how it can provide quality service in order to attract and retain customers. Evidently, Canadian Pacific and International Bank is facing challenges related to workforce and this might have negative effect on quality of products and services delivered. Therefore, there is need for the company to address this issue immediately. The company is also likely to face stiff competition in future due to the fact more banks are emerging banks from developing countries.
Canadian government has well established laws and regulations that influence operations of businesses entity. Government regulatory measures would affect distribution and delivery of products and services by the bank. In the recent times, people value information. Therefore, customers of Canadian Pacific and International Bank would be influenced by the education about the products and services delivered to them by the firm.