Q.1 write a reply for this article (Natali)
The financial institution I work for has four key strategies but the one that resonates with me is “Diversify™ and expand with new products and markets”. In 2019 Walmart ended the partnership with Synchrony after 20 years of service causing a lot of uncertainty since this was our largest client, some employees lost their jobs. I noticed a switch in the strategy that is now more focused on extending relationships with new clients and constantly improving the technology aspect to offer solutions to the consumers that want to self-service through the website or an app, this has been a big area of opportunity.
In the chapter 3 we learned how the organizations analyze the environment and competitors, as both a client and an employee is easy for me to see that the technological capabilities of Synchrony are not the best compared to other banks as Discover or CapitalOne, Synchrony is aware of this and now the focus is in continuing to innovate. I find the strategic management process effective because they are listening to the feedback of consumers and are using the results found in different studies and analyses to put into place strategies that won’t put the company at risk again.
Veselinović, J., Mitić, M., Bačvarević, B. B.,