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Martinez (2009) states that as the world grows global, the need for banks to cross borders gain exceptional significance; thereby, some move their offshore branches, while others opt for various other mediums – one of such mediums to move across the geographical boundaries is ‘collaborative venture’, also known as a ‘joint venture’.
Elliott (2004) states that the advancements of information and communication technology have had a huge impact on the banking sector, along with its impact on other financial and nonfinancial institutions. Thatchenkery (2005) states that ICT has led banks to a long way; from a single branch towards the networking and flow of information to-and-from hundreds of branches; and from information flowing in all directions in a single bank to information flowing across banks, information and communication technology enhancements has revamped the banking sector to transfer of monetary terms from one bank to another, while both being geographically dispersed and having no connection what so ever.
Trends are commonly known as fashions but in a true sense, trends are waves that flow in, stay, and leave. But there is another phenomenon in trends and that is complementing each other. In this phenomenon, two or more trends do not overcome one another but actually, complement each other’s existence. So much so that the case under consideration, in accordance with Doukidis (2004), provides a classical example of how the trends of the banking sector have been assisted to flow by the trend of the information and communication technology. These trends have complemented each other to an extent that banking today without ICT stands absolutely no where.
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Deadline: 2007-06-03 12:37
Language Style: English UK
Writer ID: 6746
A jointventure is an entity formed between two or more parties to undertake economic activity together. The...
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