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Building an International Financial Services FirmHow Successful Firms Design and Execute Cross-Border Strategies$
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Markus Venzin

Print publication date: 2009

Print ISBN-13: 9780199535200

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780199535200.001.0001

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How to compete? The development of business and functional-level strategies

How to compete? The development of business and functional-level strategies

Chapter:
(p.184) 8 How to compete? The development of business and functional-level strategies
Source:
Building an International Financial Services Firm
Author(s):

Markus Venzin

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199535200.003.0009

This chapter explores how positional competitive advantages can lead to superior performance. It shows why profitability variance among financial services firms exists not only on an international level but also on a national scale. Higher profitability depends on the ability of a financial services firm to understand the local market structure and develop positional advantages. Another avenue to higher profitability is to deploy superior resources and capabilities in the local market. A third common way to internationalize in a profitable way is to concentrate on a narrow industry segment (or client group) and leverage superior capabilities on a global scale. The chapter introduces and illustrates these concepts with two case examples — Allianz and HBOS — which demonstrate show how financial services firms can create unique strategic positions by developing differentiation and cost advantages as well as by focusing on well-defined target segments.

Keywords:   financial services firms, competitive advantage, profitability, local markets, internationalization, Allianz, HBOS, strategic positions

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