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Forces - Min Khant Hlaing

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75 views

Forces - Min Khant Hlaing

Uploaded by

sirismk19
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Technological Forces

Technology plays a crucial role in the banking industry. K bank has adopted various self-service technologies, such
as ATMs, SMS banking, mobile phone banking, and internet banking, to improve its service quality. These modern
technologies offer significant benefits to banks, as they enable a faster task completion, efficiency, and cost savings
(Elkhaldi & Abdullah, 2022) which enable banks to better serve their customers and increase customer satisfaction
(Khadim & Islam, 2022).

Sociocultural Forces

K bank is committed to becoming Net Zero in our own operations by 2030 and to be the leader in innovative
“Green Finance” in Thailand for environmental sustainability. The organization tries to show respect to every
customer by wearing the green color uniforms and by delivering excellent products and services beyond customer
expectation and by striving for customer success and satisfaction. KASIKORNBANK (KBank) and DHL Express
have jointly engaged in the GoGreen Plus project to support the cross-border transportation of shipping documents
using sustainable aviation fuel (SAF) in order to reduce carbon emissions.

International Forces

All international banks including K bank must obey the policies such as the financial regulations, economic stability
policies, and poverty reduction which are established by The World Bank(WBG). (WBG standards: World Bank
Group,2024). The investment strategies of K bank are also impacted by changes in the world’s financial markets.

Demographers Forces

If people earn more income, they could do more saving and investing processes at the bank. K bank is the
organization which is providing several financial services to various ethnics and genders. KBank recognises the
value of managing diversity in the workplace and treats all of its employees equally and without discrimination
based on their age, gender, sexual orientation, country, ethnicity, colour, or disability. K bank also show respect and
provide excellent services based on customers’ preferences and cultures which will get customers’ attention and
satisfaction. That’s why respecting cultural norms and providing different entertainment in different languages and
cultures are very essential in banking industry.

Economic Forces

Interest rate fluctuations have an effect on K bank's borrowing costs and profits. The real value of money is also
impacted by shifts in the general level of prices in the economy, which have an impact on the lending and investing
activities of K banks. Additionally, the demand for loans is impacted by the nation's overall economic situation,
which have an effect on KBank's operations.

Political-Legal forces

Due to the political instability, conflicts and security concerns, country’s economy could be down. It could make the
investments in the bank and the demand for the loan on the decrease. In addition, it could also affect the
collaboration with international banks. The government’s established regulations and limitations will affect much
interest and exchange rates on cross- border transactions and international banking operations. That’s why the
government has a big impact on banks.

Elkhaldi, A. H., & Abdullah, G. A. (2022). The Effect of Cloud Computing’s Advantages and

Components on Time Savings and Data Privacy for the Quality of Electronic Banking

Services. International Journal of Professional Business Review, 7(3), e0601.

https://doi.org/10.26668/businessreview/2022.v7i3.601

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