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In logically we can say that the selection of which prohibit any other possibility. It means the courses of action that can be chosen by asserting two or more choices as because at least one of which would be accurate. In an appropriate manner we can say an alternative solution in terms of business is like a design that complies with one or more requirements of the Building perfect strategy for any business.
Alternative # 01 Do Nothing:
Actually, do nothing strategy is like, there is nothing like a good cup of coffee. The do nothing strategy is keeping in the pink, not to be confused with in the red. The do nothing strategy is to be applied whenever the complexity of the environment or the situation is such that no predictable outcome can be foreseen. It is also applicable whenever opponent force is likely to act towards its self-consumption. The company situation during the alternative one will actually keep the overall operation constant. That normally means the continual ongoing process with changing or modifying any of the business strategy. In this situation the company will not incur any additional cost or the annual budget modifications to run their business. On the other hand the general profitability or the organizational growth will also be remaining constant. And if any incidents not happen then the company will not face extra problem other than currently facing problems.
Less risk factor would be occurring: Generally here less risk factor will be will come
because we all know that if any company try to change its strategic planning only then they need to take the risk of that changing situation. So it is very much clear that if the company follows the do nothing strategy then surely less risk factor would become one of the good pros points of the alternative.
any change. As a result we would be able to consider the do nothing strategy as a helpful alternative solution of the raised problem more over we would be able to consider this no change in work atmosphere as a key pros of the alternative solution one.
Management will get time to draw the best strategic plan for the conning future: In the present condition of the internationalization as well as keeping leading position
in local area of the banking sector the fundamental and most appropriate planning and also most vitally the best implementation of that plan is very much crucial. Thats why by considering this moment of the zenith position of the BG we can identify the do nothing policy as Beneficial point of the alternative one.
Operational function of the company will not get hampered: If the company
follow the do nothing strategy then apparently the operational function would not be hampered normally other than any sudden incident. It is because the company already has their all necessary policies to operate the business smoothly though they are not that much successful in terms of other international bank. And this alternative would be helpful for them in running their banking business without affecting hugely the total operational function of the company
Leading position of the company might become obsolete: Though now in the
local market the BG is in the leading position but we can assure that soon after the implementation of do nothing strategy the bank surely lose its leading position if they try to hold up this alternatives for the long term consequences. So we can now logically say that the do nothing strategy has also cons beside the leading position of the Bnco Ganadero.
Better internationalization by acquiring leading position will not be possible: The vision of BG is to achieve the international presence by joining the activity in
the capital market of the world. But if the company try to follow the do nothing strategy for large amount of time then obviously they will face the problems in better internationalization by acquiring leading position in the international capital market.
Continual sustaining with their mission statement for dreaming the achievement of the vision might get corrupted: The Banco Ganadero has
appropriately defined its mission statement and the vision. But as currently as they are facing some sorts of problems in the context of the best financial institution we think they need to change or update their strategies as per the necessity of the customer market. But if they follow the do nothing strategy for the best solution of their raised problem then obviously the continual sustaining with their mission statement for dreaming the achievement of the vision might get corrupted
were considerably affected, threatening the banks profitability. There were still many failures to follow the regulations established by the bank. In spite of all the efforts in the training of the human talent, and the investments in technology, the bank continued facing very serious problems that affected banking operation. We have spoken a lot about service to the client, but our client continues unsatisfied. He does not receive the service that he expects and requires. We are not giving the client the added value that he expects from the bank. So we can say that with the proper modification of the existing strategies if we can able to implement the policies perfectly then obviously not only all the strategically raised problems mentioned above would be solved but also other simple strategy based problems will also be resolved in full manner.
Potential to become one of the major connector between USA & Columbian economy: in the case we have informed that the BG was struggling for increasingly open
competition from foreign banks. So it was one of the great threats for the company. But in the process of the alternative two this problems would be automatically solved as because by showing the good performance of the modified strategies with proper implantation the investor will attracted.
Both internal as well as the external needs assessment would be cover up with full satisfaction of both customers and staffs: At this moment the company
has a number of needs assessments both internally and externally. And the pro here is acting like the fulfillment of the all those needs assessments to continue the banking successfully in locally and internationally.
Corporate global strategy will be automatically fit both in internal and external area of the organization: now days the Banco Ganadero is trying to make
expansion internationally and that are why the best global strategy is very much required for perfect expansion of the branch of BG in the overseas. Here in the alternative two we can found that the strategy modification is doing as positively to fit the global business strategy perfectly with the organizational context.
Appropriate strategic management has to hire or the existing management has to be get well trained: If any company needs to change or modify
its business policies then obviously they badly need to hire the expert person or need to train the existing management personnel so that they can appropriately modify the strategies. But the total arrangement of this process is both time consuming and also required the additional funding.
The modifying operating system would cause unexpected problem temporarily: When a company is trying to modify its business policies in a fulfill manner
then obviously the total operation process of the business will be modified and the sudden change or the modification of the operational program can simply cause simple problem like employee dissatisfaction, customers changing on the brand preferences and many other things which can hamper the normal flow of the business.
Any fault in the modified strategy could cause huge damage on the banks overall scenario: On the other hand if in the modified strategic plan had any types of fault
then obviously the total implementation process would be hamper and as a result the huge damage of the business could be occur. So that we can say best strategy also may have the con which can destroy the overall business System.
Less pressure on the regular banking operation: though BG invests a lot for
development of the technology but actually in the real life they were still suffering from this point. So if the alternative three has been taken for solving the currently facing strategy deficiency then also the technological advancement will be held automatically.
If we consider the alternative three, then actually we can found the BG would be able to make perfect strategic plan for capturing the leading position capital Market in Latin America. Here we can actually say that the internationalization process in this aspect is necessary for future growing profitability of the Banco Ganadero.
Value added service will satisfy the customers: in the alternative three we have
found the value added service for satisfying the customers. Though Banco Ganadero was serious enough in better customer service but unfortunately they failed to get the full success to satisfy the customer in Colombia. But here in the third alternative solution we find value added service as one of the most important pro of this alternative.
Costing is a big issue: In the alternative two we find out the additional cost as one of the
most vital con of the alternative. Here again in the alternative three we have found the same point as another vital con of this alternative three. Actually the additional cost will come whether we took any alternative as the solving solution of the raised problems other than do nothing strategy.
Though the internationalization would be successful but the strategic problem will be remain constant in the core banking business of BG in Colombia: If we going to follow the third alternative solution then may be the
internationalization will became very much successful but the problem with the core banking strategies in Colombia will not be finished, so that we can consider it as another con of the alternative three.
Alternative # 04
Policy making will be easy : though BG invests a lot for development of the technology
but actually in the real life they were still suffering from this point. So if the alternative three has been taken for solving the currently facing strategy deficiency then also the technological advancement will be held automatically.
Value added service will satisfy the customers: in the alternative three we have
found the value added service for satisfying the customers. Though Banco Ganadero was serious enough in better customer service but unfortunately they failed to get the full success to satisfy the customer in Colombia. But here in the third alternative solution we find value added service as one of the most important pro of this alternative.
Monetary valuation : In the alternative two we find out the additional cost as one of the
most vital con of the alternative. Here again in the alternative three we have found the same point as another vital con of this alternative three. Actually the additional cost will come whether we took any alternative as the solving solution of the raised problems other than do nothing strategy.
Human talent will be needing at its best currently BG lacks in that particular sector : If any company needs to develop a new business policy then obviously
they badly need to hire the expert person so that they can appropriately build the strategies which will perfectly fit with the new organization. But the total arrangement of this process is both time consuming and also required the additional funding or the annual budget of the company needs to be specified according to the necessity of the building new policy. If we going to follow the third alternative solution then may be the internationalization will became very much successful but the problem with the core banking strategies in Colombia will not be finished, so that we can consider it as another con of the alternative three.
Alternative # 05
More close to the core market: though BG invests a lot for development of the
technology but actually in the real life they were still suffering from this point. So if the alternative three has been taken for solving the currently facing strategy deficiency then also the technological advancement will be held automatically.
Monetary solution: If we consider the alternative three, then actually we can found the BG
would be able to make perfect strategic plan for capturing the leading position capital Market in Latin America. Here we can actually say that the internationalization process in this aspect is necessary for future growing profitability of the Banco Ganadero.
Risk Competitors counter-move: In the alternative two we find out the additional cost
as one of the most vital con of the alternative. Here again in the alternative three we have found the same point as another vital con of this alternative three. Actually the additional cost will come whether we took any alternative as the solving solution of the raised problems other than do nothing strategy.