Enhancing the Competitive Strategy Bank Muscat SAOG Assignment

Enhancing the Competitive Strategy Bank Muscat SAOG - Assignment Example This service should come hand in hand with liaising with other companies such as the utility companies to ensure that their bills can be paid through the bank for the customers in the bank. This will consequently increase the number of customers and also increase the revenues collected since the customers will be transacting at a fee. The bank is looking at going global in order to have the muscle and the ability to fight off any economic downturns that may face the country in the long-run. The markets in the country are volatile meaning that the bank is located in an economy that may change making it unstable. Backing the bank’s capital base and ensuring that the country cannot be worst hit by the economic or political downturns in the country can only be changed by increasing the number of branches outside the country (Bank Muscat, 2014). The bank therefore needs to assess the markets and spot the growing markets in order to establish branches in countries that have the best returns. The branches can be located in the neighboring countries such as Pakistan and India that are not too far away and in the process control the banking sector in the region through increasing their branches in the region further (Jeffreys, 2012). Targeting premier customer in the developed and developing countries such as Malay sia, China and Brazil where there is available markets for the service is also critical. The Bank should ensure that it does not back its assets in only a single area but back the assets through a stream of countries from all over the world and as a result gain the required capital base from abroad that cannot be affected by the Oman economy (Claessens and Van, 2007). The country may also consider merging with banks in the different countries that they wish to invest and ensure that the banks have a good reputation in order to ensure that the citizens of the countries believe in the bank. This is