Scribd
Upload
11 views

In Class Task - DNB

Uploaded by

albertineajer
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
11 views

In Class Task - DNB

Uploaded by

albertineajer
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

Albertine Bratli Ajer, Norway, DNB (Den Norske Banken/The Norwegian Bank)

Strategy statement

DNBs strategy statement is as following; «Our surroundings are constantly evolving.


Understanding changes in customer needs and expectations, the competitive
landscape and trends, are important to succeed. The Group's strategy is set up to guide
us to meet the changes in the world around us» (DNB, 2024).

DNB's strategy focuses on adapting to a rapidly changing world by prioritizing customer


trust, competitiveness, and sustainable growth.

DNB says the following about their mission and values; Our mission describes our long-
term vision and a goal we'll strive to achieve every day. To help simplify life for people
and businesses and make them prosper - that's why we're building the world's best bank
for Norway (DNB, 2024).

I suggest the following strategy statement for DNB; DNB's strategy is to adapt to evolving
customer needs, deliver trust and value, and achieve growth through competitiveness,
collaboration, and innovation—building the world’s best bank for Norway.

This statement is shorter and more focused than their current one, and it is under 35
words like Collis and Rukstad suggests (Collis & Rukstad, 2008). Also, including the
phrase "building the world’s best bank for Norway" encapsulates the long-term mission
and ambition of DNB. This strategy statement provides a clear, sharp, and customer-
focused summary of DNB’s strategy that aligns with its mission while being easier to
communicate and understand.

SWOT analysis

Strengths Weaknesses
DNB is Norway’s largest financial DNB relies heavily on Norway, making it
institution with a strong brand and market sensitive to the local economy. Becoming
presence. DNB offers a wide range of the most cost-effective Nordic bank may
financial services, including banking, demand major changes and investments.
insurance, and investments, attracting
various customer segments.

Opportunities Threats
Expanding digital sales and mortgage Intense competition from other Nordic
services could attract more tech-savvy banks and fintech companies may
customers. Exploring markets outside pressure margins. Norway’s economy,
Norway or offering more global services dependent on oil and gas, could impact
could diversify income streams. DNB during downturns or energy sector
shifts.
PESTEL analysis

Opportunities Threats
Government support for digital banking P Political instability in foreign markets
Strong economy, resource wealth E Economic downturns, loan defaults
Growing financial literacy, digital S Aging population, reduced youth
adoption engagement
FinTech innovation, blockchain T Cybersecurity risks, tech disruptions
Demand for green finance E Environmental regulations
Favorable local regulations L Stringent EU/global compliance

Porters five forces

Force Description
Threat of New Entrants Low: High regulatory barriers and capital
requirements
Bargaining Power of Suppliers Low: Limited suppliers in banking services and
technology
Bargaining Power of Customers Moderate: Increased competition from digital
banks gives customers more options
Threat of Substitutes Moderate: Rise of FinTech, digital-only banks, and
alternative financial services
Industry Rivalry High: Intense competition from both traditional
banks and digital challengers

References

DNB. (2024). Our strategy and values. Retrieved November 15, 2024,
from https://www.dnb.no/en/about-us/strategy-and-values

Dagsavisen. (2024, September 10). DNB vil kutte 500 stillinger det neste
halvåret.Retrieved November 15, 2024,
from https://www.dagsavisen.no/nyheter/innenriks/2024/09/10/dnb-vil-kutte-500-
stillinger-det-neste-halvaret/

DNB. (2024). Bærekraftsveileder. Retrieved November 15, 2024,


from https://www.dnb.no/bedrift/a-aa/barekraftsveileder

Collis, D. J., & Rukstad, M. G. (2008). Can you say what your strategy is? Retrieved
from https://edisciplinas.usp.br/pluginfile.php/5430480/mod_resource/content/1/1.2%
20Can%20you%20say%20what%20your%20strategy%20is%20-
%20Collis%20and%20Rukstad%20%282008%29.pdf

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy