Scotiabank Phase 2: Current Design, core competencies and how it affects operational, financial and competitive advantage The current design of Scotiabank is that it is not only just a bank but a trustworthy institution to secure families for the future. An important part of what makes Scotiabank’s design so prominent against other competitors is their commitment to corporate social responsibility. The company prides themselves on their ability to assist in building promising futures across the world by ethical banking practices and environmental involvement/ awareness. Scotiabank can improve on their corporate social responsibility by focusing on what they are doing to improve customer experiences. Showing how they are impacting the community positively is important but they must not forget to show the importance of their customers and how crucial each individual’s business is to the company.
Operational
The design can be an advantage for the operations of Scotiabank because it offers the employees an opportunity to expand their involvement in the company by not only meeting customer’s needs but by meeting the needs of the community.
Financial
Putting more money into programs that will not generate revenue will still benefit the company in a way that money cannot in the long run. Having a good reputation is very important for any business and being responsible with their money and time shows potential customers why they should give their business to Scotiabank.