Appendix A and M2 readings Flashcards
What is a challenger bank? What is a neobank? Why can’t they call themselves ‘banks’?
- challenger bank is a small financial institution, and may or may not have brick-and-mortar locations, so their fees can be low and all of their services are available online or in-app.
- Neobanks only offer services online or in-app, and their fees are considered low in comparison to the big banks.
Aren’t regulated under the bank act
What are the levels of banks in canada?
traditional = regulated by federal gov so can control rates and :. accessibility of money, and are focused on deposits and loans
near-banks = credit unions and caisses populaires = owned and operated by their members and generally regulated by the provinces
trust companies = may be regulated under provincial or federal legislation, also provide traditional banking services.
What is the potential advantage of neobanks?
Arent official banks so dont need to offer all possible services, can instead niche down and get very good at one speciifc thing
How to know money is secure in a neobank?
If it is insured by the CIDC then if they go bankrupt, you’re still good for up to 100,000
What is Meta doing soon? How is this helping them reach their goal?
Incorporating 3D aspects into their existing 2D avatars (like BitMoji/Snapchat did)
Helps them reach their goal of creating a virtual 3D space (metaverse) online where people can meet others, work together, do activities, hang out, etc. withit feeling real
What are the 3 ways people are looking ‘posh’ in the metaverse?
- Expensive avatars = cryptopunk has ones that are 2D and pixelated but expensive af so if you;ve got one of those you got schmoney
- Designer clothes = lots of big brands (Gucci, Nike, etc.) have released digital clothing lines/products, many of which sell for tonnsss of moolah
- Events and influencing = virtual events like the Meta Gala (virtual version of Met gala) are hosted online for influencers and famous people
Internal analysis involves the objective review of internal information pertaining to:
- Strengths & weaknesses
- Firm’s current strategy & performance
- Financial performance (sales, market share, market potential, profitability, shareholder value)
- Other performance dimensions (humans, legal, relational, etc.)
- Current & future availability of resources (how actualy access?)
- Competitive intelligence – capabilities, vulnerabilities, intentions of competitors
What are some ways to measure performance beyong money?
- Sources of cost advantage
- Finance/access to capital
- Manufacturing/operations
- Innovation
- Management/employee capability & performance
- Values & heritage (what guides and inspires the org)
Continuous ones (should be tracked always): - Product & service quality (what org says vs what customer actually sees/experiences)
- Brand/firm associations
- Brand loyalty (what drives it? habit or actual value)
- Customer satisfaction
What to consiuder when looking at assets and competencies?
- What can be developed (innovation, manufacturing/operations, access to capital, management, marketing & customer base)
- Which are important to customers?
- Which have been developed by successful competitors?
- Which are significant parts of the value chain?
What are some ways to evaluate marketing?
Product quality/reputation Product characteristics/differentiation Brand name recognition Breadth of product line & systems capability Customer orientation Segmentation/focus Distribution Retailer relationships Advertising/promo skills Sales force Customer service/product support
What are some ways to evaluate customer base?
Size & loyalty
Market share
Growth of segments served
Customer satisfaction
What is the right way to look at a SWOT matrix? How differentiate between internal (S/W) and external (O/T)
Find ways to convert weaknesses into strengths and threats into opportinities OR minimize/avoid them
Strengths and opporuntiies should match
Differentiate by asking “would this still exist if our org didnt exist?”
