Environmental Factors
The internet has accelerated the capability of firms to coordinate processes and personnel across organizational as well as geographic boundaries (Mithas & Whitaker, 2007). A firm can either grow by international market penetration of existing customers based in international markets, and/or the firm can develop completely new international markets with existing products.
Both of these international market growth strategies are influenced by Internet (Mathews & Healy, 2006) and of course, online banking services. Firms engaging in international business can take advantage of differences in recession and growth in economic cycles around the world (Daniels & Radebaugh, 2001). However, Firms need adequate resources at their disposal in order to take advantage of an opportunity when it comes along. Firms can enter into foreign market to minimize competitive risks, perceived dependency on domestic market, and to exploit market and investment opportunities abroad (Daniels & Radebaugh, 2001). The motivation is to create additional economic value through interaction patterns that take into account the trading partners’ requirements and circumstances (Buvik & John, 1999).Therefore, we hypothesize:H6: The greater the opportunity for overseas market development a firm has, the greater the online B2B banking value it experiences.
More financial literature on Economics.Studio
More on the topic Environmental Factors:
-
Conflictology -
Ecology -
Economy -
Finance -
History -
Law -
Medicine -
Philosophy -
Religious studies -