Name of student: Bui Huy Hoang
DBS bank is a leading financial services group in Asia, with over 200 branches across 15 markets. DBS was established in 1968 as the development bank of Singapore. It was the catalyst to Singapore’s economic development during the nation’s early years of independence. Since then, DBS has transformed into a successful financial services institution, offering a comprehensive range of innovative products and solutions to meet its clients’ needs. With operations in 15 markets, the bank has a regional network spanning more than 200 branches and over 1,100 ATMs across 50 cities.
DBS’ primary operations are in Singapore and ...view middle of the document...
S multinationals no longer dominate international business, in the mid-1970s, U.S firms made up almost half of the largest multinationals. Small and medium-sized businesses, many of them in rapidly industrializing Asian countries, are becoming “mini-multinationals”. This situation has accidently become an advantage for DBS bank to achieve their successes.
Second, the technological innovations, it has made what was once impossible. Advances in communications, information processing, and transportation technology have made today’s large international business feasible. Many firms depend on satellite technology to link worldwide operations and integrate plants and activities. In 2010, DBS introduced Singapore’s first Internet Banking guarantee. That is a form of self-service technology and it is more convenient, less complex, more compatible and more suited to those who are PC proficient. The perception that adopters had about social desirability, confidentiality, accessibility and economic benefits were viewed no differently when adopters were compared with non-adopters. DBS is succeed on this way, they have applied the technology in their business to get the goals.
Third, global consumer preferences, as we all know that DBS provides the range of services in corporate, SME, consumer and wholesale banking activities. That means they serve people who have the needs on baking to do their business. But in fact the preference of customer nowadays changes day by day. For example, there are a lot of banks around the world, therefore DBS is not only the choice of them. They can choose another bank for their saving, loans for their business so that DBS will lost a large of amount customers. So they decided to extend the market, and nowadays, they have over 200 branches across 15 markets in Asia and Middle East. That means, they will have a big number of consumer. And this right decision brings to them their goals.
The last one is integrated economic markets. Economic integration between groups of countries in a particular geographical area is gaining momentum, and today there are 35 such agreements. The objective of economic integration is to reduce or eliminate barriers to the free flow of goods, services, labor, capital, and other inputs of production between member nations. Singapore is one of members of ASEAN, and this is very meaning with DBS that DBS can enjoy the benefits from this group. For example, DBS have 4 markets in ASEAN, they can carry out their business easily like capital, open the headquarters in these markets to increase their profits.
However, there are two major factors that affects the business of DBS. Firstly, that is the economic environment, firms entering international markets are subject to unpredictable economic shifts that may have major effects on earning. For example, in 2009, that was a year of two halves. The star of the year was marked by imploding banks, rising bankruptcies, free-falling stock markets and a global...