Research On The Competition Strategy Of Rural Credit Cooperative Union In Minfeng County

The main business of the rural credit cooperative union in Minfeng county is the deposit and loan business and the intermediate business.The deposit service includes the public deposit(unit current deposit,unit regular deposit)and savings deposit(regular deposit and current deposit).The loan business includes peasant household loan,rural economic organization enterprise loan,non-agricultural loan,credit card overdraft and so on.rural credit cooperative union in Minfeng county has a long time to adhered to the market orientation of serving the "three rural",serving the community,serving small and medium enterprises and serving the county economy,strongly supporting the development of the county economy,and realized a new breakthrough in the business development.However,agriculture and rural economy have also entered a new stage of market oriented,pay attention to efficiency and optimize the structure,which also brings new opportunities and challenges to China's rural credit cooperative union.Under this background,this article adopts the way of combining theory with practice to study the competitive strategy of rural credit cooperative union in Minfeng County.First,this paper analyzes the opportunities and threats faced by the rural credit cooperative union in Minfeng county.from the macro environment and the industry environment,and combs the opportunities in the external environment,which includes the strong support and great opportunity for the Central Party's major policy deployment,and the tax relief and preferential policies for the rural credit cooperative union in Minfeng county are powerful.It has promoted the development of the rural credit cooperative union;the quickly rural economic growth and effectively reduced the risk of the rural finance;the continuous optimization of the agricultural structure provided a good opportunity for the development of the credit union;the expansion of the rural consumption field and the upgrading of the structure promoted the development of the credit business;the fund demand for the peasant workers to return home increased;The advantage of Minfeng county's regional structure is beneficial to the development of the business of rural credit cooperatives;the development of internet technology has a positive effect on the promotion of operational efficiency;the bargaining power of the buyers is relatively weak;the intensity of competition in the industry is relatively low.The threats are as follows:the tightening of financial regulatory policy has brought new requirements;the interest rate marketization challenges the profit pattern of the deposit and loan spreads,and the lack of rural credit consciousness and the lack of property guarantee ability to create financial risks;the supplier bargaining power is gradually enhanced with the promotion of people's financial awareness and ability;industry barriers reducing the potential motivation of potential entrants and increasing the threat of rapid development of substitutes.On this basis,the author makes quantitative evaluation of the adaptability of the key elements of the current strategy of the rural credit cooperative union in Minfeng county.The results show that the current strategy of the rural credit cooperative union in Minfeng county is still inadequate in the use of the development opportunities in the external environment and the avoidance of external threats.Secondly,through the objective evaluation of the resources and ability of the rural credit cooperative union in Minfeng County,the advantages and disadvantages of the internal conditions of the rural credit cooperative union in Minfeng County are found.The advantages include the good development of the credit business,the rich customer resources,the strong ability of the deposit business and the credit.The ability to release is strong;bank card and intermediary business develop rapidly;risk control ability is relatively strong;profitability is higher than the average level of industry.The disadvantages are:the internal governance structure of the rural credit cooperative union in Minfeng County is not perfect;the structure of human resources needs to be optimized;the new services such as ATM,POS,online banking and SMS service are beginning late;the technical ability is weak.On this basis,the quantitative evaluation of the key elements of the current strategy of the rural credit cooperative union in Minfeng County is carried out by IFE matrix,and the results show that the advantages of the rural credit cooperative association in Minfeng County are more than the disadvantages.Then,through the analysis of the operating environment of rural credit cooperative union in Minfeng county by the SWOT analysis matrix,this paper combs out the opportunities and threats,advantages and disadvantages in the operating environment,and then forms the alternative competition strategy.On this basis,the author adopts the QSPM(Quantitative strategic planning matrix)to select the competition strategy of rural credit cooperative union of Minfeng county,and it is determined that the rural credit cooperative union of Minfeng county should choose the differentiation strategy of"using the opportunity and giving full play to the advantage",and explains the implementation plan of the competition strategy from three aspects of management innovation,business innovation and marketing innovation.Based on the above analysis,the paper finally puts forward the corresponding safeguard measures from four aspects:organization,talent,culture and technology.Based on the combination of theory and practice,this paper makes a competitive strategy for the rural credit cooperative union in Minfeng county,which has a certain guiding role in planning the future development direction and obtaining competitive advantages of the rural credit cooperative union in Minfeng county.At the same time,the research process and research conclusions of this article are also have certain reference value for other financial institutions in the same industry.