Finance, Corporate Strategies, Auditing, Accounting

1) Describe the nature of the external environment facing the bounding assiduity in Tanzania. Introduction: The banking manufacturing in Tanzania has dynamically changed for the horticulture one decade. Many banks have joined the industry both(prenominal) local and foreign.The players in the banking industry are trying to get ward of their emulous positioning and repositioning strategically. In mid mid-sixties the banking industry had only one bank, National Bank of march (NBC). Therefore it was a monopolized industry structured. In 1986, Corporate and countryfied Development Bank (CRDB) was established, this make the banking industry to experience a duopoly market structured. In any industry, including the banking industry, the nature of competition is of all sentence a function of the market structure. Banks are now individually working on their make about what are applicable products and rates to be offered to the market.This is due to withdrawn of the Bank of Tanzania (BOT) as a market forces controller. In this regard the need for the single(a) bank in the industry to compete externally their avow way to sustain themselves alive in the competition. Porters Five Forces Framework has been widely used in analyzing the agonistic structures of an industry. Definitions of Bank The Bank of Tanzania defined the term Bank as an first appearance authorized to receive money on current circular subject to withdrawal by cheque.[Bank of Tanzania (BOT) Website]. Bank can be defined as an organization, usually a corporation, chartered by a state or federal government, which does most or all of the following: receives demand deposits and time deposits, honors instruments drawn on them, and pays interest on them; discounts notes, makes loans, and invests in securities; collects checks, drafts, and notes; certifies depositors checks; and issuesdraftsand cashierschecks. (http://www.investorwords.com/401/bank.html#ixzz2EwF1 cMPY). The Banking Industry of Tanzania. ! The Banking industry has various...If you involve to get a full essay, establish it on our website: OrderEssay.net

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