Research On The Strategic Transformation Of XX Branch Of ICBC Under The Background Of "Internet Plus"

The Internet has profoundly affected people’s lives since its inception,and the Internet financial frenzy generated by its integration with finance has even swept the world.Internet finance utilizes tools such as cloud payment,cloud computing,and big data to rapidly change the lifestyle of the public and promote changes in the traditional financial industry with the advantages of convenience,efficiency,and product diversification.As a branch of a traditional large commercial bank,Industrial and Commercial Bank of China XX Branch also has some problems,such as weakening of financial intermediary function,decline of deposit and loan interest margin income,backward financial service mode,lack of competitiveness of financial products,etc.Its market competitiveness is weakening,and its market share is constantly being eroded.It is imperative to study and formulate a digital transformation strategy in the context of Internet plus.The research background of this article is Internet finance,and the method used is empirical research.Taking XX Branch of ICBC as the research object,based on the relevant knowledge of corporate strategy learned,this paper conducts a comprehensive analysis of the strategy of ICBC Head Office and the current strategic status of XX Branch of ICBC,and finds out the existing problems in the current strategy.Then,it analyzes the opportunities and threats brought by the external environment to ICBC XX Branch in terms of its macro environment,industry environment,and industry competition,and draws on its strengths and weaknesses in the internal environment based on current internal resources and capabilities.Then,SWOT analysis method is used to comprehensively analyze the strengths,weaknesses,opportunities,and threats existing inside and outside XX Branch.It is pointed out that ICBC XX Branch has obvious internal advantages,while external opportunities outweigh threats.Therefore,it is suitable to adopt SO strategy to improve its competitiveness in the Internet era.Finally,this article combines the existing strategic situation of ICBC XX Branch,as well as its internal and external conditions,and based on the current Internet background and the entire bank’s digital development achievements,develops a transformation and development plan for XX Branch in the next three years.XX Branch should focus on key directions such as thinking mode,management organization,business channels,human resources,and risk management and control,establish a consistent digital layout led by the Group’s strategic planning,and achieve strategic transformation,upgrading,and innovative development of XX Branch.The research in this paper can provide some reference for the strategic transformation of traditional large commercial banks in the context of the vigorous development of Internet finance,and provide some theoretical exploration for the development of subsequent large commercial banks.