United Commercial Bank and El Banco Compare and Contrast - Tiếng anh chuyên ngành | Đại học Hồng Đức

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Môn: Tiếng anh chuyên ngành (TACN)

Trường: Đại học Hồng Đức

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United Commercial Bank and El Banco Compare and Contrast The strategic service vision entails four
pillars, which consist of target market segment, service concept, operating strategy, and service delivery
system. In essence, the pillars are utilized to improve or modify current services. The first pillar, target
market segment is essentially the discovery stage. The point of this stage is to determine whom the
company is serving and to whose needs their product needs to be tailored.
Some contributing factors in determining the target include demographics, psychographics, and other
important characteristics. In the case of United Commercial Bank, their main target market is clear, the
Chinese American community, which is company’s ultimate goal is to aid families and businesses in
achieving their American Dream. On the other hand, El Banco de Nuestra Communidad focuses on luring
in Hispanic clients.
As stated by the company CEO, Drew Edwards, everything in the bank is designed to attract Hispanic
people, from the bright colors, to the Spanish music, and comfortable ambiance. The second pillar of the
service vision is the service concept, which mainly focuses on the reasons why customers would choose
one product over their competition. Some competitors that UCB faces in the Asian community are East
West Bancorp. Nara Bancorp, Cathay General Bancorp, and Wilshire Bancorp.
As previously mentioned, the Chinese American community is very focused on financial stability. In order
to defeat their competition, the UCB attempts to meet their standards by offering savings accounts and
CDs with high rates, attractive business loans for real estate transactions, and features to facilitate
import and export businesses, which are common among Asian Americans, and low and sometimes
refundable bank fee that keep the customers coming back. On the contrary, El Banco relies on bank
transaction fees as a source of revenue.
By comparing themselves to Western Union, El Banco attracts customers to come to their bank and cash
checks in their establishment even if they do not have an account with them. By charging people with a
1. 5% cashing fee, El Banco makes a third of their revenue. In addition, once they have the customer,
they are able to offer more features such as a mortgage for undocumented workers, based on their
taxpayer identification, credit cards, financing, and savings accounts. The third pillar is the operating
strategy. This factor focuses on the structure and order of the company.
The United Commercial Bank is strategically located in predominantly Chinese American neighborhoods,
as well as Hong Kong, Taiwan, and China. By employing Chinese speaking employees, UCB is able to
maintain a strong flow of business and communication with their customers. In addition, whenever a
client opens either a checking or savings account, they are rewarded with a tea caddy or gift tea sets to
further accentuate the culture. On the other hand, although El Banco is located only in Georgia, they do
employ a similar strategy in terms of structure.
They too are culturally homogenous, by focusing on their Hispanic constituents and employing Spanish
speaking workers. Two vast differences in their structure is that El Banco is informal in their overall
appearance and their business structure is a franchise company. Lastly, the fourth pillar is service
delivery system. This pillar oversees that the operating strategy is in fact being fulfilled. The way the
United Commercial Bank goes about delivering their service is, once again by employing Chinese
speaking employees and emphasizing the Chinese culture and beliefs.
By providing the clients with safe but valuable assets, UCB is able to match up to their competitors and
fullfill their business model. El Banco also utilizes culture to achieve their business goals. By decorating
their establishment with bright colors, Spanish music, comfortable seating, a play for children, snacks,
Spanish-language newspapers, phones, and e-mail stations, the banking is showing how dedicated they
are to their constituents and is effectively giving them what they desire.
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United Commercial Bank and El Banco Compare and Contrast The strategic service vision entails four
pillars, which consist of target market segment, service concept, operating strategy, and service delivery
system. In essence, the pillars are utilized to improve or modify current services. The first pillar, target
market segment is essentially the discovery stage. The point of this stage is to determine whom the
company is serving and to whose needs their product needs to be tailored.
Some contributing factors in determining the target include demographics, psychographics, and other
important characteristics. In the case of United Commercial Bank, their main target market is clear, the
Chinese American community, which is company’s ultimate goal is to aid families and businesses in
achieving their American Dream. On the other hand, El Banco de Nuestra Communidad focuses on luring in Hispanic clients.
As stated by the company CEO, Drew Edwards, everything in the bank is designed to attract Hispanic
people, from the bright colors, to the Spanish music, and comfortable ambiance. The second pillar of the
service vision is the service concept, which mainly focuses on the reasons why customers would choose
one product over their competition. Some competitors that UCB faces in the Asian community are East
West Bancorp. Nara Bancorp, Cathay General Bancorp, and Wilshire Bancorp.
As previously mentioned, the Chinese American community is very focused on financial stability. In order
to defeat their competition, the UCB attempts to meet their standards by offering savings accounts and
CDs with high rates, attractive business loans for real estate transactions, and features to facilitate
import and export businesses, which are common among Asian Americans, and low and sometimes
refundable bank fee that keep the customers coming back. On the contrary, El Banco relies on bank
transaction fees as a source of revenue.
By comparing themselves to Western Union, El Banco attracts customers to come to their bank and cash
checks in their establishment even if they do not have an account with them. By charging people with a
1. 5% cashing fee, El Banco makes a third of their revenue. In addition, once they have the customer,
they are able to offer more features such as a mortgage for undocumented workers, based on their
taxpayer identification, credit cards, financing, and savings accounts. The third pillar is the operating
strategy. This factor focuses on the structure and order of the company.
The United Commercial Bank is strategically located in predominantly Chinese American neighborhoods,
as well as Hong Kong, Taiwan, and China. By employing Chinese speaking employees, UCB is able to
maintain a strong flow of business and communication with their customers. In addition, whenever a
client opens either a checking or savings account, they are rewarded with a tea caddy or gift tea sets to
further accentuate the culture. On the other hand, although El Banco is located only in Georgia, they do
employ a similar strategy in terms of structure.
They too are culturally homogenous, by focusing on their Hispanic constituents and employing Spanish
speaking workers. Two vast differences in their structure is that El Banco is informal in their overall
appearance and their business structure is a franchise company. Lastly, the fourth pillar is service
delivery system. This pillar oversees that the operating strategy is in fact being fulfilled. The way the
United Commercial Bank goes about delivering their service is, once again by employing Chinese
speaking employees and emphasizing the Chinese culture and beliefs.
By providing the clients with safe but valuable assets, UCB is able to match up to their competitors and
fullfill their business model. El Banco also utilizes culture to achieve their business goals. By decorating
their establishment with bright colors, Spanish music, comfortable seating, a play for children, snacks,
Spanish-language newspapers, phones, and e-mail stations, the banking is showing how dedicated they
are to their constituents and is effectively giving them what they desire.