Essay on Pest Anaylsis Nordea - 1443 Words

Pest Analysis on Nordea Political 1. Legislation/law for information systems 2. Effectiveness of law v internet 3. Monopoly legislation 4. Trading from investors Economical 1. Economy of information systems in Scandinavia 2. Economical trends 3. Trade and industry 4. Competition of cost outside Europe Social 1. Wide demographic 2. Applying decent pricing to customer’s needs 3. Innovative idea to suite customer trends 4. Security Technical 1. Using different sites to their advantage 2. Challenges of integrated systems 3. Innovative ideas 4. Competitors Political – ‘Political systems can exert significant pressure on the development and use of information systems in organisations’ (Beynon-Davies, 2004). This normally†¦show more content†¦Social One of Nordea’s goals is that the ‘website should be designed in a way that would be easy even for 65-year-old customers to understand’ (Jelassi Enders, 2008) They aim to address a large demographic, to hold as many customers as they could. This achievement was shown in 2002 when they had 10.6 million private customers (Jelassi Enders, 2008). Deitel et al pointed out that people are less trusting of banks and the public now see banks as power and money hungry institutions who messed up society. Nordea previously removed their basic charges for their customers and customers that want to do equity trading pay various amounts. However Nordea’s competitors still tend to be cheaper. An example of this is E*Trade that charge 50% less than their trade (Jelassi Enders, 2008). Nordea have an innovative media view which is TV banking. This allows customers who are not computer literate, or purely don’t like using the internet to check their balances via the TV. With this as an example of one of the new benefits using remote mechanisms, it is important for stakeholders to be interested for their purposes. Margetts and Dunleavy (2002) (cited in Beynon-Davies, 2004) argue that for people to change their conventional way of interacting with organisations over to new technology mechanisms there is a substantial and immediate set of