| The decline of traditional industry growth momentum,demographic dividend narrowed,the problem of excess capacity is still outstanding,local debt risk accumulation,interest rate liberalization leads to the tightening of interest rate spreads,financial regulation has been strengthened,all of above make commercial bank face unprecedented development predicament,,traditional interest rate spread mode can not adapt to the current competitive environment.Meanwhile,with internet capital entering the financial field,innovative financial service model is gradually replacing the traditional bank counter service with the advantages of convenience and speediness.The rapid development of new technologies such as big data,cloud computing,blockchain and artificial intelligence has also contributed to the rapid rise of fintech companies.Under the pressure of internal and external problems,the profitability of China's commercial Banks has fallen sharply,which is far from the same as the rapid growth of the golden decade.In order to cope with the competition and gain new profit growth point,commercial Banks have to start to consider strategic transformation and develop to light.As early as 2004,China merchants bank has been leading the industry with its retail business.In 2014,China Merchants Bank was the first to proposed the construction of "one wing and two wings" light bank,restarted its transformation path,in the forefront of financial transformation again.In order to explore the motivation,feasibility and effect of China Merchants Bank's strategic transformation,based on previous literature,guided by the value chain theory,the "smile curve"theory and the long board theory,based on SWOT framework,this paper used strategy map to describe light strategy and transform it into four specific action plans,then evaluated the effect of light business of China Merchants Bank,hoping to provide some appropriate recommendations for other commercial banks in strategic transformation.Research shows that:(1)The motivation of strategic transformation of commercial bank stems from external pressure and development bottleneck.(2)The potential opportunities that commercial Banks face and their competitive advantages provide the feasibility for their strategic transformation(3)Commercial Banks can improve their efficiency only by implementing the strategic transformation into action.(4)Strategic transformation can significantly improve commercial Banks' efficiency.Based on the above research results,this paper suggests commercial banks:(1)Commercial banks should adjust their development strategies according to market changes.(2)Commercial banks should formulate the best transformation strategy in combination with themselves.(3)Commercial banks should focus on the customer and accurately grasp the customer demand,so as to increase customer satisfaction and stickiness.(4)Commercial banks should use Internet financial technology to launch innovative products and services to attract new customers.It is hoped that the conclusions and Suggestions of this study can provide reference for other commercial Banks' strategic transformation and make some contributions to enrich the research on strategic transformation of enterprises. |
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