Tuesday, August 27, 2019
Charles Schwab & Company Case Study Example | Topics and Well Written Essays - 500 words
Charles Schwab & Company - Case Study Example Moreover, the company offers services with low commission charges which result in huge revenues and consumer trust. The recent sale of the Ã¢â¬Å"US TrustÃ¢â¬ has decreased profitability. Since the company operates in only a few countries it has a risk of losing business. The aging population in countries it operates like Hong Kong, USA and UK are likely to increase demand for insurance and other retirement and corporate services the firm offers. The positive prospects of the asset management industry are likely to bring benefits to the firm. Despite the opportunities, the firm is likely to be affected by the global recession which has reduced demand. The increasing number of new entrants in the market will increase competition for the firm. Volatility in financial markets can cause Charles and Schwab & CompanyÃ¢â¬â¢s profits to decline. The firm should continue to prioritize consumers and quality product in order to retain profitability. It can start operations in other countries that may have potential demand for the services offered. The company can modify and polish its services by offering new convenient plans for its potential customers in order to combat competition. Market research should be conducted to offer services that are better than competitors in order to retain market share. The firm was the first discount brokerage company. Its strategy is to empower individual investors by offering discounts and convenient plans. It was the first to offer 24 hours a day and 7 days a week services. Moreover, it offered automated telephone services(Rimma Kats,2011). It used the strategy to ease the consumer by offering automated online and cell phone facilities to increase market share and profits. The firm has an organized system for the smooth running of the company. The firm has maintained different department. Each department handles a particular aspect. The firm has specialists to maintain and develop software for its mobile commerce facility. The firm well identifies the marketing segment for each service it offers and modifies its packages for different units.