Financial services is widely considered to become one of the most disrupted industries within the next 10 years (Rosenbaum, 2015). More specifically, according to many experts, the current retail bank location model will be obsolete in the near future. While this is a strong claim to make, multiple existing data and trends are supporting this […]

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Routines and rituals are part of our everyday lives. Many people follow routines to help organize their time and make their day more predictable, easy to follow and efficient. Routines and rituals are important behaviours in consumers’ lives that serve as sources of insight for marketers. Routine is defined as a set of mundane “tasks, […]

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The comparison was performed in the retail branches between the hours of 12 pm and 2 pm on a weekday (See note 1 below). This was done to examine the banking experience free of additional customer volume interruption and possible teller fatigue following a long shift. The 5 major Canadian retail banks were compared: TD […]

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One of the essential components of strategy formulation is the ability to forecast the state of one's industry in the future. With a fair amount of certainty about the future, managers can use a standard set of tools and analysis to formulate a strategy that best suits their company. However, in reality, the future is […]

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In a perfect world of strategy theory, one would start by analyzing the existing industry structure and then proceed to formulate a unique position for his/her business. This would involve deciding on how to compete in the market place and designing a unique set of activities that would enhance and synergize the envisioned competitive position. […]

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International sourcing is beyond finding an outside supplier to fulfill company's needs. We prefer to view it as a process of gaining access to and further developing suppliers' capabilities, while expanding one's network and product base. At the same time, international sourcing initiatives remind executives of company's core competencies and capabilities. Being a small company […]

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For years, businesses have outsourced some of their activities and production internationally. Others have turned to global sourcing for improving company's products offering or to minimize costs. In this article, we outline some practical tips for a company initiating international sourcing and attempt to derive an overall sourcing strategy. The first logical step in international […]

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Many industries experience prolonged periods of rapid change before settling to a more stable market structure. The changes may be exogenous in nature, arising from shifting competitive dynamics, technological advancements, etc. Companies may also experience voluntary and involuntary internal transformations, such as changes to company's management, installation of new equipment, etc. When these prolonged periods […]

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As explained in the article entitled The Reasons for the Economic Crisis, the crisis is set to continue with the aggregate consumer demand falling. What does it mean for your business? 1. The demand for your products is likely to decrease unless you are offering an inferior good (e.g. McDonalds hamburgers, etc.) 2. The competition […]

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The activities and fundamental issues faced by many businesses are often reminiscent of actions and psychological issues faced by people. It is not surprising, considering that these very same people run these businesses. In particular, it is important to look at the tendency of business owners, once faced with stagnation, to invest into projects and […]

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