Buy essay on SWOT Analysis of TMB Bank Public Company Limited

SWOT analysis is probably one of the most important in the contemporary management as it gives direct information about current stamen of things, what areas need more thorough attention and what are already working efficiently. Examining the operation of TMB Bank Public Company Limited on the Thai Market that gave been drawn a series of consistent pattern that determine the SWOT analysis
Strengths and Opportunities
This pattern would examine the strong parts that give good opportunities for the TMB Bank Public Company Limited to achieve this core goal
– Strong market position. TMB operates successfully more than 50 years on the local market. It keeps its position within the top three among the most popular banks in Thailand. It shows that TMB specialists are well aware about the target group needs and the developmental characteristics of the market
– Competent and experienced management. The governmental issues of TMB perfectly understand the necessity of westernization and it is essential that knowing the market they successfully use modern western managerial practice in their corporate policy and regulation of inner environments
– Real measurable goals. It is also very important factor as it deals with the successful managerial measurements. The bank governmental issues perfectly understand the real possibilities for further development and do not seek for the dominating position on the International level, when the leading position in the local market could be changed in such a severe competition.
– Good risk management system. The successful renewal after the decay caused by world financial crisis shows that the risk management system is perfectly operating and provides a good support for the TMB Bank Public Company Limited network.
– Participation within the Corporate Social Responsibility. Makes the bank more opened and socialized. It provides good opportunities for further development and providing efficient social programs
Weaknesses and Threats
This pattern would examine the weak parts of the company that could be real threat for it within such a competition on the Thai market and could create significant threat for further development and achieving the core goal
– Constant staff turnover. Despite the corporate logic that intended to provide trusting relationship between the governmental issues and the staff the turnover is still significant problem as it does not give an opportunity to create healthy task environment in the company. Hence the government understand the problem and working on it
– Lack of experience of the innovative technologies. It goes without saying that the local banks such as TMB are not so experienced in contemporary managerial practice, which is provided by the international banks in Thailand. They seek for the new strategies but they need certain time get accommodated to them and successful usage
– High concentration on the local needs. It does not open further perspective for the bank and do not provide a good advantage for becoming successful within the area and further development. With the lack of innovative experience this factor could be a serious threat for achieving the core goal of the company as local interest due the globalization is now becoming international. And local participators soon become a part of global market.
Conclusion
In the end I would like to make a stress on the fact that Thailand is the country of great perspectives that is why a number of western investors are attracted to the local areas. Banking is closely connected to the other business areas (tourism for example) and the developmental strategies should include monitoring of contemporary business of Thailand and the whole South East Asia area. The strong position of TMB Bank Public Company Limited on the local market provides bright perspectives for its further development and achieving the core goal of the company. It goes without saying that strong managerial team understands the difficulties and threats the company has and develops strategies aimed on the promoting the strong qualities and reducing the weak ones. I think that the company has great developmental perspectives on the local market of banking service even yet the contemporary situation is including many international participants and the severe competition is observed within the market including many international participants and the severe competition is observed in Thailand and South East Asia as well.

 
References:
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7. Bank Thailand Information Service (2010). TMB Bank. Retrieved March 6, 2010 from Bank Thailand Information