Provide a 6 pages analysis while answering the following question: The Current and Future use of Internet Technologies for LLoyds TSB. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. Lloyds TSB offers an inclusive range of banking and economic services to a number of 16 million individual consumers throughout over 2,000 branches athwart the UK, in addition to telephone and internet banking services. This Group is one of the foremost mortgage lenders in the UK, by means of a marketplace contribution of 8.8 % as at the end of 2006. Profit previous to tax from UK Banking in the year 2006 was £1,549 million. .
Insurance and Investments have also integrated internet competence and the profit in the year 2006 was £950 million. Wholesale and International Banking also incorporate internet competence and profit at the end of 2006 was £1,640 million.
Below I have presented the graphical representation of Porter’s Five Forces model. I will analyzes each Lloyds TSB Current and Future use of Internet Technologies and there effect and advantages to the E-Marketing, web design, B2B and ales, and Customer Service seniors this all discussion will be according to this model.
Porters 5 forces analysis is a configuration for business analysis and company policy development. It employs thoughts urbanized in Industrial Organization economics to obtain 5 forces that come to a decision regarding the competitive strength and consequently pleasant appearance of a marketplace.
Threats of a new event: as the technology is evolving every business wants to present its customers the unsurpassed products and services. In the banking sector technology has affected customer behavior. Now they require more ease and security. By keeping this in mind the Lloyds TSB has expanded mobile banking (Smith et al, 1995). .Competitive rivalry within the industry: in this prospect the Lloyds TSB has adopted a more secure and customer-friendly web transaction management system.