Discuss the main business challenges CITI Bank was facing with reference to Porter’s forces of competition.

Expert Solution

The five force model is a business analysis tool that examines the relative strength of five primary market dynamic that govern competition within virtually any industry.

Challenges -

It's difficult to measure accurate bargaining power of consumers.bargaining power of large group of customers is greater because bank cannot afford to suffer mass defection of depositors.

The threat of Substitute products has increased in the banking industry as companies outside the industry have begun to offer specialization financial services that were traditionally available from bank only.

The bargaining power of supplier .it is also difficult to estimate..

The thread of new entrants to the industry- the threat of new entrants form within financial industry is relatively small.

Rahul Sunny answered 2 years ago

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