An Upgrade To Competitive Corporate Analysis: Creation Of A Personal Finance Platform To Strengthen Porters Five Competitive Forces Model In Utilizing

Abstract

This paper aims to achieve three main objectives. First, it aims to assess the current general public perception regarding the financial services industry and states reasons for a client orientation business model. Second, it will discuss ways to make use of available data on the World Wide Web to discover a new client base and improve new market penetration, customer services, and relationships with customers. Finally, it will talk about a new Personal Finance Platform Software and propose a new model which will integrate Big Data into the service delivery process of the financial industry. The new Personal Finance Platform Software will ultimately be incorporated into a competitive corporate analysis. Competitive analysis applies modern management and economic principles to study a firms strategic position. Competitive analysis develops insights such as the firms strategic position, industrial organization, management structure, capabilities, competitor identification, rivalry, commitment, cooperation and economic principles. In conclusion, the authors will integrate the new Personal Finance Platform Software into corporate analysis by overlaying Porters five competitive forces model in order to create a competitive advantage. Ultimately, these companies who implement the Personal Finance Platform Software can expect to increase their total industrys competitiveness within a global milieu.