Phân tích Các mơ hình chiến lược mang lại lợi ích cho SeABank Answer: Strategic management is the process of researching the current and future environment, planning goals of the organization, implementing and testing to achieve these objectives in the current and future environment Today, as a result of the globalization, rapid technological development, most businesses have to pay attention to set strategies The strategic management is concerned because: - it helps managers to forecast, access and make decisions on how and when to achieve future targets - it helps administrators to recognize opportunities and risks in business as well as to analyze and forecast the environmental conditions in the future in order to take advantage of opportunities, reduce risks and overcome competition Any banks need a specific business strategy Hence, effective mechanisms, policies and clear strategies are required for the survival and sustainable development of a bank Southeast Asia Bank (SeABank) is one of the earliest and among the top 10 largest joint-stock commercial banks in Vietnam, with total assets of 30,000 billion VND Following are three benefits that strategy management brings to SeABank I Strategic model: 1/ Low-cost strategy: implementing activities with high-performance and lowcost value chain, or edit the value chain to reduce costs and add value to the customers - Diversifying products and services; using efficiently current networks, technology to supply, cross-sell products and services; improving the quality of traditional products and services and developing innovative services to meet the demands of the market - Developing modern, efficient and qualified supporting systems as a basis for business development; supporting the branches and transaction offices; completing a restructuring step; renewing branches and offices according to the strategy Page of - The cost of products and services is a key part of the manufacturing process or has a great impact on the quality of the products and services 2/ Product differentiation strategy: Combining different features that make the products or services of a firm more favorable than those of its rival brands; product differentiation creates value for buyers without being copied easily and expensive a/ Leading products: developing ever-known products that have not been tried and are always welcome This strategy requires pioneering methods to help new products be known the fastest on the market Sony and Inter Corporation are two examples of this strategy b/ The friendliness: establishing rapport with its customers to address its customers and their needs This strategy requires the optimization of customer networks The motivation of this method is geared toward the needs of targeted customers, focusing on developing new products and services For example, the cabotage company The Home has successfully applied this strategy c/ The optimal operation: providing optimal products and services with high quality, good price and convenience that dominate other companies This strategy emphasizes on the cost, quality, good relationships with suppliers, efficient distribution For example, McDonald's Corporation, Southwest Airlines, Dell Computer Corporation In recent years, many banks in Vietnam has actively divert their business to attracting individual customers Accordingly, a successful retail banks need to understand an intimate relationship between brand and differentiation It is not only the difference in quality of products and services, but also creativity to put their names on the map Thanks to the efforts and breakthroughs in retail banking strategy in 2013, SeABank has been rated as one of the successful joint-stock commercial banks in this field In early 2013, SeABank invested millions of dollars in a new brand identifier At the same time, the retail strategy has been pushing from late 2012 "SeABank believes the best retail products and services are the simplest ones that are easy to use with low cost and high efficiency We want SeABank is known with simplicity beyond expectations and the 4P changes aim to this goal" In detailed, Page of SeABank conducts comprehensive renovation according to 4P standards on the whole system: Product (product superiority), Place (wide and fast distribution channels); Process (a simple process) and People (professional, friendly, conscientious staff) First, SeABank has successfully developed many unique products like Savings love for your children, Home purchase savings, Officers loan, free billionaire ATM cards for 10 years, Personal-preference account, etc The customer support program in 2013 of SeABank also resonated in the market In September 2013, SeABank launched interest rate at only 5.91%/year The package "Trust" supporting house purchases and management of cash flow for homebuyers are also warmly welcome by both buyers and sellers Most of the programs of SeABank have received positive feedback from the customers After one year implementing the new retail strategy, SeABank, almost entirely new band in the retail segment, has attracted 500,000 customers and become an innovative and dynamic retail brand with many awards including "Best Retail Bank in Vietnam 2013" awarded by Global Banking & Finance Review, "Innovative products and services Bank in Vietnam 2013 " by ASEAN Banker Forum The difference of SeABank is built on the whole system to bring convenience to customers "Customer always want simple banking services that are quick register and easy to use This goal requires a uniform process, but so far not many banks have succeeded " In April 2013, SeABank released the first "online retail banking supermarket" in Vietnam so that their customers can proactively register online services anytime and anywhere According to a representative of SeABank, provoding "better, simpler and cheaper products and services" will continue to be a target of SeaBank in the future 3/ Customer strategy: provide pilot products with superior design to collect customers’ response to revise the products or find solutions to meet customers’ requirement Depending on different products, they can be divided into several groups by targeted customers or the capability of the firms The solutions to this are to develop the joint venture or employ outsources to meet customers’ needs - building regular relations with customers Page of - maintaining customers’ loyalty - supplying products and services according to customers’ needs - Customer is the fundamental factor that determines the potential profitability of the sector and SeABank They require different level of services, quality and characteristics of products and distribution channels - To survive and thrive in the competitive environment today, the banks are concerned to develop the scale of their systems, to innovate of their products and services, to create credibility and attract customers The expansion of scale which requires more technology are risk also On the other hand, the open integration and strong development of the banking and financial services, especially electronic services, has increased high-tech crime which are barriers to banking applications II Benefit analysis: 1/ The external factors: In this economic integration era, companies and people all have new awareness toward banking and finance The companies can gradually approach the capital (deposits, loans, payments, export-import payments via banks Individuals have used many banking services such as ATM cards, credit cards, etc Cash payment is less popular due to high risk when transporting In addition, the use of ATM, MasterCard, Visa in the baking system in general, SeABank in particular, is proved to be effective very - bringing great opportunities for the development banking services in order to meet more and more professional demands of the businesses in the economy - With the capital contribution of foreign strategic partners, SeABank can not only increase its equity but also access to modern managerial skills, innovative technology and development new services that the partners have experience - creating opportunities and pressures to promote creativity, enhance labor productivity and train SeABank human resources to meet new requirements - creating opportunities for SeABank to develop nation-wide network with modern technology, innovative services 2/ The internal factors: In 2013, SeABank was one of the commercial banks with the most charter capital (5465.8 billion VND), its total assets were more than 100,000 billion VND Page of with 155 outlets nationwide This is thanks to the proper strategy and the consensus of the Board of Shareholders In recent years, the growth of the charter capital of SeABank is better than its competitors Meanwhile, as compared to the state-owned banks and foreign banks, its charter capital is much lower This is a weakness that SeABank needs to consider by adjusting the strategy to suit the trend of integration of Vietnam - SeABank uses the latest version (R08) of the Temenos T24 bank management software All transaction stations of SeABank are connected directly to the Head of the transaction and other offices all over the country, which ensures quick and absolutely safe transactions SeABank has successfully integrated Temenos T24 and Way4 (a card switching software) to supply safe, multi- functional and multi- utilities cards In addition, SeABank also owns Data Center system, IBM Servers systems and optimal storage system - SeABank applies the Core Switch Nesus 7000 switching solutions of Cisco Oracle Corporation (USA) awarded SeaBank a membership certificate of application the most modern grid technology of Oracle SeABank is a member of SWIFT (Society of World Interbank Financial Telecommunication 24h per day) - Security should be identified as an indispensable factor in quality of banking services Banks need to implement the best solution to protect consumers and raise awareness of each employee: from marketing staff to customer care staff, supportreceiving staff But those efforts haven’t been enough It was revealed in a study by MIT and Harvard a few years ago that when the yellow lock icon (the connection encrypted by HTTPS) are removed from the login page, 96 % of participants still enter the password Even when there are warnings about suspicious sites, 57 % of participants still enter the password The random code generation equipment for once use can be disabled if the internet banking customers are not concerned about protecting their computers so that malicious hackers to hijack their machines Therefore, the banks should actively propagate to the clients to understand the security risk and the way the banks are adopting to protect them With each incident, the benefits of security measures should be emphasized, which can avoid losses When the customers are aware of the problem, they will be happy to share the cost of security for banks and more active in the information security These mandatory provisions should Page of be included in service agreements to help customers understand the risks that may occur and allow them to choose of preventive measures Moreover, in order to share costs for customers, banks can provide free advanced security utility for their patrons, and ensure a minimum level of security required for all customers In recent years, SeABank has made great effort to provide the highest level of security possible for the customers The first achievement of SeABank is due to the harmonious combination of technology, people and processes Though many mistakes need overcoming, SeABank staff still give confident commitment to bring their customers more secure and reliable service The security are considered a competitive advantage on the market III Enhancing the strategies to achieve the goals by 2015: When Vietnam implements fully the commitments to open in the field of finance and banking, SeABank should develop more strategies to achieve the following objectives: - Chartered capital increases on average 20% to maintain the top ranks and reaches over 14,000 billion VND (approximately $800 million) in 2015 - Growth deposits in average of 20-50% - Outstanding loans will increase by 50-51% on average Moreover, SeABank will reduce the annual rate of loans in total capital by 5-7% to reduce the proportion of loans accounted for 60% of total deposits and strive to increase the proportion of services revenue (non-credit) in total revenue by over 55% in 2015 - Sales of international payments to grow on average 30% -34% per year, reaching $7,500 million in 2015 - In terms of credit risk management, loan classification to implement and plan debt according to international standards Non-performing loans over total loan to be under 2%, the proportion of medium and long-term credit over total credit to reach 40-42% - Expanding branch network annually, reaching 120 in 2014 - The growth in pretax profit from 35% -40% annually - In terms of personnel and training, organizing training programs and fostering in-depth knowledge and updating advanced banking knowledge, launching new products, services and business operations Page of 7 Page of ... included in service agreements to help customers understand the risks that may occur and allow them to choose of preventive measures Moreover, in order to share costs for customers, banks can provide