Research On The Competitive Strategy Of Financial Management Business Of DP Bank

Financial management business is an important profit point for banks.The ’new regulations on asset management’ put forward new requirements for the competitive strategy and business model of banks’ financial management business.As a rural commercial bank,DP bank’s financial management business has been greatly affected by the financial regulatory policies and the COVID-19 epidemic in recent years.The adaptability of the original competitive strategy to the current environment has been reduced.It is urgent to adjust it to enhance its competitive advantage.In order to help DP bank’s strategy committee improve the accuracy of strategic decision-making in financial management business,based on the competitive strategy theory and value chain theory,the theoretical research framework is constructed from four aspects by using research methods such as questionnaire survey,interview,PEST analysis,SWOT analysis,QSPM matrix analysis,AHP and other tools.Firstly,analyzing the competitive strategic environment of financial management business of DP bank.Secondly,selecting the competitive strategy of financial management business of DP bank.Thirdly,putting forward the implementation suggestions of financial management business’s competitive strategy of DP bank.Fourthly,putting forward the safeguard measures for the implementation of financial management business’s competitive strategy of DP bank.First of all,with regard to the analysis of the competitive strategic environment,the research found that there were 28 environmental factors affecting the competitive strategy of financial management business of DP bank,including 6 opportunities and 7 threats in the external environment,7 advantages and 8 disadvantages in the internal environment.EFE and IFE matrix analysis found that the external and internal environment quality of DP banks was better than the industry average.Secondly,with regard to the choice of competitive strategy,the research shows that among the three alternative strategic plans,the differentiation strategy has the highest total attraction score,which indicates that the differentiation strategy is the most matching competitive strategy with financial management business of DP bank at present.Thirdly,regarding the implementation of the competitive strategy,the strategic positioning and objectives of DP bank were optimized first.On this basis,from the basic activities of the value chain of financial management business,four specific implementation paths were proposed around the differentiation strategy,namely,the implementation path of the differentiation strategy of financial management product design,the implementation path of the differentiation strategy of financial management product marketing,financial product investment operation differentiation strategy implementation path and financial product customer service differentiation strategy implementation path.Finally,on the safeguard measures of competitive strategy implementation,five specific safeguard suggestions are put forward.In the organizational management guarantee,we need to optimize the company’s organizational structure and strengthen risk control.In fund guarantee,we should increase digital transformation investment and strengthen financial management.In the cultural guarantee,we should continue to build an internal control and compliance culture,and introduce an agile culture and a refined culture.In the human resources guarantee,we should actively promote the construction of the core branch’s talent team and create an agile team.In the information technology guarantee,it is suggested to strengthen the information technology security management and improve the digital financial system.Through the above research,the purpose is to provide decision-making reference for the strategic management committee of DP bank to optimize the competitive strategy of financial management business and enhance the competitive advantage of DP bank in the regional peers.