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Operations Management

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(a) For the banking industry discuss the external factors which are impacting on the industry. (b) Also, discuss the responses of the industry to each of the factor and indicate whether the industry has been successful or not in meeting the challenges offered by these factors. Your assignment should include the following: • Introduction • A short literature review on external factors impacting on an industry. • Discussion of factors impacting on the particular industry you have chosen. (Note an industry is a group of firms operating in a given sector and it is not...

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Question Preview:

(a) For the banking industry discuss the external factors which are impacting on the industry. (b) Also, discuss the responses of the industry to each of the factor and indicate whether the industry has been successful or not in meeting the challenges offered by these factors. Your assignment should include the following: • Introduction • A short literature review on external factors impacting on an industry. • Discussion of factors impacting on the particular industry you have chosen. (Note an industry is a group of firms operating in a given sector and it is not one firm only) • Discussion of responses of the industry. • Indication whether they have been successful or not.

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The objective of the assignment is to understand the certain factors impact an industry’s operational management. The factors are mostly external and they have been elaborated with supporting examples. It is also to be observed in what manner these external factors affect a chosen industry and how they respond to the challenges posed by these external factors. It is also to be indicated by the subsequent discussions whether the challenges posed by the external factors have been successfully dealt with or not. The external factors have been discussed with respect to PESTLE and SWOT analysis, which would help in knowing how the external factors play an important role in the day-to-day operations of the banking industry. Although there are both internal and external factors that affect the banking industry, the external factors pose a serious issue when it comes to operational management.

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