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Risks in International Business
Just as there are reasons to get into global markets, and benefits from global markets, there are also risks involved in locating companies in certain countries. Each country may have its potentials; it also has its woes that are associated with doing business with major companies. Some of the rogue countries may have all the natural minerals but the risks involved in doing business in those countries exceed the benefits. Some of the risks in international business are: (1) Strategic Risk (2) Operational Risk (3) Political Risk (4) Country Risk (5) Technological Risk (6) Environmental Risk (7) Economic Risk (8) Financial Risk (9) Terrorism Risk Strategic Risk: The ability of…
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Digital Trends and Technologies Transforming CX in Banking and Finance
The taste of this new class of customers clashes with the traditional mode of service that dominates the finance sector. They grew up in a completely digital environment. They have no attachment to legacy systems that banks and finance companies have been holding onto for years, despite the wave of new technologies in business and communications. A 2017 report by Accenture indicated that 71% of financial services consumers are open to using “entirely computer-generated support for banking services.” Clearly, the majority of consumers are ready to go fully digital. This prospect presents a problem for legacy system-loving companies, and adequately coping with the situation means decisively acting now. It’s no…