Saturday, October 19, 2019

Commerce Bank Case Study Example | Topics and Well Written Essays - 500 words

Commerce Bank - Case Study Example The weakness is the staffing challenge, which will be solved with training more internal workers to curb the emerging trends. The visible opportunities are evident in the New York market where competitors rely on deposits and loans instead of service provision. Commerce bank offers the typical retail banking transactions with a different touch to impress their clients and build a strong reputation in the industry. For instance, the bank ensures that customers have access to their services for longer durations, spanning 12 hours daily. This initiative is to enable the clients receive quality services in all the branches countrywide. Headquartered in the Southern New Jersey, Commerce bank has stores in Pennsylvania, Delaware and New York (Francis & Research Associate Corey Hajim, 2006). Another strategy that makes the bank exceptional is their freedom and experience when handling customer problems and the routine gifts offered to new clients. This enabled the bank to receive more deposits than their competitors, which increased profit margins and liquidity ratio. The bank also grew its customer base through aggressive promotional strategies such as branding roadway kiosks, free customized hot dogs and through the help of vendors. Currently, it offers high market share and a large customer base across the country, which is a competitive advantage. Commerce bank faced the challenge of recruiting the best employees for their jobs. As a result, organizational culture and philosophy were important aspects in determining the best employees. The bank should aim to hire professionals who understand how to handle customers with experience and decency. It is also tricky to acquire the services of experienced workers on a full-time basis since they are already absorbed in other sectors (Francis & Research Associate Corey Hajim, 2006). The company manages its affairs pertaining to both internal and external environments. For instance, in the SWOT analysis, Commerce

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