External Environment Analysis of Kiwibank Essay
help banks to develop their organization and simplify management. Threats are costly resources for trainning staff to approach new technologies and invest for changes of technologies. Moreover, those high-tech trends are key drivers of change. Banks catching up with those advanced technologies remain in this current competitive market. 2.1.5. Environmental New Zealand is a country of earthquakes because of being part of the Pacific Ring of Fire. This causes significant destruction to banks in New Zealand so banks have to look for effective solutions to reduce to minimum uncontrolled damages. This is the threat to banking industry, which is not easy to control because of coming from nature and not being predicted. However, because of earthquakes, people have tendency to made deposit to reserve their assets. If there are any damages, they still have reserve assets in bank. 2.1.6. Legal Banks in New Zealand have responsibility for pass all of the laws for banking industry such as the Reserve Bank of New Zealand Act, Companies Act, Commerce Act, Fair Trading Act, Credit Contracts Act, etc. All banks have to obtain licensed banks which are the type of financial institution. Moreover, to owe licensed banks, financial institutions have to meet high qualitative standard and simultaneously, they also accepted to be supervised by the Reserve Bank.
2.2. Porter’s five forces analysis 2.2.1. The threat of