Vancity's Competitive Advantages

466 Words2 Pages
1. What is Vancity 's competitive advantage over other types of financial institutions? As globalization increased competition through the worldwide interconnectedness, it became more difficult to hold on to a company’s competitive advantage. Vancity, founded in 1946, enjoys its own competitive advantage to be one of the greatest employers in Canada. The main competitive advantages that Vancity holds over other types of financial institutions are that Vancity keeps healthy and talented workforce, builds meaningful career paths, and continues to advance their informational technology (IT) through strategic positioning. First, Vancity never stopped to create a healthy and talented workforce. The organization continued to be committed to their purpose, which were to work with the community to help them prosper while operating with integrity, innovation, and responsibility (Schermerhorn & Wright, 2014). The organization recognized the opportunity to help and impact both their workforce’s work and home life. It created an enjoyable work environment by hosting social events, listening to music, and casual dress codes. Moreover,…show more content…
First, the employees are continuing to experience more value from Vancity through their extensive effort to focus on the workforce. The result can be shown by their awards, including Canada’s top 100 employers, one of Canada’s top 30 greenest employers, and etc. (Schermerhorn & Wright, 2014). Secondly, Vancity’s healthy financial position, allowed them to serve their customers’ financial needs innovatively. For example, it was the first Canadian financial institute to offer mortgages to women and using media to directly market to the gay and lesbian community. Lastly, Vancity create value for the shareholders by bringing more business through their competitive advantage. It also creates value by supporting the values of the shareholders and what they consider
Open Document