President's Choice Financial
(5 pages of text)
By the end of 2013, PC Financial remained one of the few successful no-frills banking providers in Canada. Since its founding in 1998, the company had grown into a significant competitor in consumer financial services with nearly three million customers and $644 million in revenue. The financial crisis of 2008 and the competitive situation in Canadian retail financial services had led to the acquisition and in some cases closure of several of its competitors. While the changes in the market arguably seemed to be beneficial by reducing competition, they also raised questions about the company’s ability to continue as a separate operating entity.
This case is designed for use in strategic management courses and in courses focusing on the strategic aspects of finance or accounting. Its objectives are:
- To analyze a company using Porter’s Competitive Strategies and Five Forces models, in addition to internal analysis frameworks such as the VRIO model and the Blue Ocean Strategy framework.
- To understand the competitive landscape of the Canadian banking industry, which is dominated by five major banks.
- To explore the situation of no-frills banking in Canada.
Finance and Insurance
Canada, Large, 2013
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