The paper "Integrating Customer Focus Across the Firm" is a great example of a Finance and Accounting Case Study. The service delivery industry is one of the outstanding industries within any economy. It has experienced a lot of significant developments and progressive strides. The financial service is one of the most advancing service sectors in the world. The paper focused on the two prominent financial service sources (traditional and new smaller sources) within the economy. The case study involved the determination of the suitable sources of finance between the two based on the premises of people, process and physical evidence.
The paper focused on various theoretical models so as to derive the advantages and disadvantages of each financial service model to justify the best out of the two. Also, the discussion also contains the last segment which constitutes the argument section on the preferred financial service option. The banking service is one of the service functions of the economy which dates back to several decades. This sector has been critical in determining the progress of various business institutions and activities in all economies of the world.
The advancement seen in the financial service provider has led to several developments and sophistication in this sector. For example, this sector has seen the emergence of new and small financial service providers in a market that was previously dominated by large financial entities. Besides, it has witnessed progressive strides towards positioning the financial service sector as a crucial ingredient in the economy (Beck et al. 2009). The level of diversity created by the emergence of small financial service providers has expanded and diversified this sector.
Therefore, customers have a wide range of options from which to choose to depend on the preferred advantages of one entity. The realization of new financial service sources has contributed to too much flexibility for various businesses and individuals in accessing loans and financial help for the success of their entities. Besides, it has facilitated the emergence of various business initiatives in the global economy. This paper intends to engage in the discussion regarding the two most common sources of finance (traditional sources and new small financial service providers).
The paper focuses on establishing the advantages and advantages of each of these two financial sources. One way of developing the discussion is with an emphasis on their basic elements which constitute the working environment for these banks. They include people, process, and physical evidence facilities operate (Kolesar & Wayne Galbraith 2000). Besides, the discussion will also focus on several theoretical frameworks that aid in identifying the advantages and disadvantages of both the traditional and the new small financial sources for business. The discussion intends to determine how people, process and physical evidence contribute towards the desirability of any of these financial service providers.
Further, these three parameters help in building knowledge on how these two financial sources impact on the development of businesses in the contemporary world. Traditional and new and small sources of financing Throughout the development of financial history, the presence of the financial providers (banks) has been quite prominent. The financial institutions which began as primitive sources during the batter trade history soon developed to more advanced institutions. The development of the banking sector has been a crucial; segment of the economy with these financial institutions contributing significantly towards the advancement of an economy.
Many businesses have had the priority of accessing various categories of the traditional source of financing as one of the available financial sources. In many countries, there has existed both political and legal framework to safeguard the operations of this financial institution (Kotler et al. 2002). Despite such progressive steps, other people continue to perceive the traditional financing sources as desirable and less efficient.
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