Swat Analysis of Woori Bank

Course: Human Resource Management (H 501) List of AssignmentSWOT ANALYSIS Of WOORI BANKPrepared for: Khair Jahan Sogra Professor Institute of Business Administration (IBA) University of Dhaka.

Introduction:

Woori Bank is a South Korean bank operating in Bangladesh from 1996. In this paper SWOT Analysis of Woori Bank different aspect of this bank was described.

As its an authorized Bank different sensitive issue like their Financial information, Employment policy, HR policy ,Client list are consciously excluded in this paper. Woori bank has a strong background in their home country South Korea.To expand its horizon they open their offices in 14 different countries. Bangladesh is one of them. Although they relatively started in very small scale now they are relatively strong in their Offshore Banking sector in Bangladesh and recently re launch their retail banking with various new products. At first we will describe about SWOT Analysis then we will show SWOT Analysis of WOORI BANK .

SWOT ANALYSIS: A SWOT analysis is a subjective assessment of data which is organized by the SWOT format into a logical order that helps understanding, presentation, discussion and decision-making.

The four dimensions are a useful extension of a basic two heading list of pro’s and con’s. SWOT analysis can be used for all sorts of decision-making, and the SWOT template enables proactive thinking, rather than relying on habitual or instinctive reactions. The SWOT analysis template is normally presented as a grid, comprising four sections, one for each of the SWOT headings: Strengths, Weaknesses, Opportunities, and Threats. SWOT analysis is a very flexible tool. Its use is not restricted to business and marketing. SWOT ANALYSIS – different applicationsSWOT analysis is a powerful model for many different situations. The SWOT tool is not just for business and marketing.

Here are some examples of what a SWOT analysis can be used to assess: • a company (its position in the market, commercial viability, etc) • a method of sales distribution • a product or brand • a business idea • a strategic option, such as entering a new market or launching a new product • a opportunity to make an acquisition • a potential partnership • changing a supplier • outsourcing a service, activity or resource • project planning and project management an investment opportunity • personal financial planning • personal career development – direction, choice, change, etc. • education and qualifications planning and decision-making • life-change – downshifting, relocation, • relationships, perhaps even family planning. WOORI BANK SWOT |Strength: |Weakness: | |Customer Service, “Customer is King’ Motto; |Single Branch Banking; | |Technological Advancement; |Single SectorInvestment Concentration; | |Strong Global Network; |Need for development of Long Term Vision; | |Efficient Manpower; |Need of development of Interbank relationship; | |Adequacy of Foreign Currency and competitive pricing; |Need for Re-engineering of departmentalization and | |Strong Financial Stability and Strong Growth: Asset |overall organizational structure; | |growth 18% and FCB’s Growth 27% from 2004-08; |Need for modernization & innovative products | |Stable Local Market growth; | | |High Profitability: | | |Well regulated and managed financial system with strong| | |control, transparency and accountability to the central| | |bank; | | |Opportunity: |Threats: | |Openness of Central Bank to adopt new technologies, |Unfavorable Political Environment; | |products and ideas; |Intense Market Penetration and competition in future; | |Opportunities to capture investors under FDI from South|Key Staff Retention; | |East Asia; |Depth & lack of Efficiency of Capital Market; | |A good place for investment & High returns; | | |Investment Banking & Merchant Banking; | | |Limited Number of Bank License; | | |A Big Market to Capture; | | |Market for New Financial Inclusions & Products; | | |Faster Development of Financial Sector along with Real | | |Sector in near future; | | MISSION OF WOORI BANK:Woori Group‘s mission is to be the leading financial group with global capabilities. Woori Financial Group promotes competitiveness on the basis of ‘One-Firm Approach. ’ Woori’s mission is to become Number 1 Korean bank in four areas: financial services, asset quality and profitability, management support and manpower. To achieve that mission their strategy is to employ highly talented and professional staff who will provide superior financial service while aiming at customer satisfaction. The mission Woori Bank Dhaka branch is to deliver optimum values to the customer, employees and to the nation .

Synonyms of CHANGE 1. alter 2. modify 3. vary 4. transform 5. revolutionize