Designing a framework for measuring and analyzing competitors in the banking industry: A thematic analysis approach

Authors

1 Department of Business Administration, Faculty of Management and Accounting, Shahid Beheshti University, Tehran, Iran.

2 Department of Communication Sciences, North Tehran Branch, Islamic Azad University, Tehran, Iran

Abstract
Purpose: The research population consisted of managers, department heads, and experienced experts with at least eight years of relevant experience in the banking sector. Data were collected through semi-structured interviews and analyzed using thematic analysis. Through coding and theme development, the essential indicators for competitor assessment were extracted.
Methodology: In today's highly competitive, technology-driven environment, the banking industry has undergone profound transformations, intensified by the emergence of new rivals, such as fintech companies. This study aims to identify and analyze competitive indicators to assess and neutralize rival banks' strategies, providing a foundation for improved strategic decision-making.
Findings: The research findings showed that evaluating competitors in the banking industry can be explained in terms of two levels of needs: strategic and supporting. In this framework, indicators fall into two main categories: strategic performance indicators, which include criteria such as market share, revenue, profitability, facilities, cost of money, bank capital, and economic value added; and strategic management indicators, which include items such as target markets, strategies, digital banking, programs and actions, value proposition, business model, bank value chain, organizational structure, and strategic pillars. This categorization reflects the nature and level of impact of indicators that are key to competitor analysis.
Originality/Value: This study provides a comprehensive framework for systematically comparing a bank's competitive position within the industry and across strategic groups. The framework can serve as a valuable tool for banking managers in competitor monitoring, strategy formulation, and the enhancement of competitive advantage.

Keywords

Subjects


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