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Conclusion
To sum up, for the past few years a great deal of attention has been paid to the processes of evaluation and regulations of the using of natural resources, as well as protection of environment in Uzbekistan. If ecology, as a source of providing the need of organisms and the daily life of people, is considered having its material importance for its economic activity, the controlling of economic affairs under the neutral economic demands is one of the actual problems standing in the way of countries. We can demonstrate the dynamics of the expenses spent for a few years on
events related to the protection of environment with the help of observing method used in our research.
In 2014 state budget expenses on protection of environment was 48,9 billion sum, of which 31,3 billion sum spent on protection of landscape and the biological diversity, 4,2 billion sum on cleaning and disposing of wastes, 5,2 billion sum on cleaning and disposing running-water, 8,2 billion sum was spent on the issues related to the protection of environment.
To conclude, we should bear in mind that although there is no limit to the need of people, the water and land resources are limited.
References:
1. Karimov I. Our main purpose is the continuation of reforms and integral changes in economy, creating a great opportunities for small business and entrepreneurship. Khalq so'zi. - 2016.
2. Danilov V., Losev K. Ecological challenge and stable development. - M: Progress, - 2000. - P. 5.
3. National lecture. Committee of protection of environment of the republic of Uzbekistan - 2008.- 2009.
4. Karimov I. "World economy regression, measures and methods of tackling it in Uzbekistan condition". - Tashkent. - 2009. - P. 72.
5. Pakhomova N., Endres A. Ecological management. - M.: Peter. - 2003.
6. Ursul A. Russia's transition into stable development. - M.:"Nosphere", - 1998. - P. 35.
7. Gulomov S. Management bases. - Tashkent, - 2002. - P. 98.
DOI: http://dx.doi.org/10.20534/ESR-17-1.2-271-273
Rashidov Oktam Yunusovich, Doctor of Economics, professor of the Tashkent State University of Economics E-mail: oktam41@mail.ru Tadjitdinov Karim Rakhmatjanovich, Applicant
at Tashkent State University of Economics E-mail: karim-tad@mail.ru
Methodological features of evaluation of competitive advantages of a commercial bank
Abstract: The article describes the development of theoretical issues of formation and development of competitive advantages of a commercial bank. The thesis says that competitive advantage of a bank primary depends on competitiveness of the banking products and services.
Keywords: competition, commercial Bank, competitive advantage.
The increase of commercial bank's profit directly depends on competitiveness of the banking product, as well as a bank itself. The competitiveness of the banking products and services is estimated
by the quality of offered services and conformity to the requirements of clients.
The principal element of competition in any market is product, by means of which the client meets his needs and bank receives required profit. Therefore, exactly competitiveness of banking product and service, not of individual commercial bank, is basic notion of competition.
Today the term "competitiveness of product or service" does not have clear and generally accepted definition. The view of the majority is that "competitiveness of product or service" is a set of qualitative and economic characteristics of banking products [2].
The main concept of banking competition is most clearly expressed in the most important characteristic of banking services in the market — in its competitiveness, i. e. in the bank's ability to meet customer needs. At the moment, commercial banks are focused on development of new or upgrading of existing banking products and
services in strategy of development. Banks treat it as fundamental tool for ensuring the stability of its operation, economic growth, competitiveness and achieve financial stability, as the effectiveness of the bank's activities depends on its ability to meet the specific needs of customers.
The superiority of a banking product over the banking products of competitors is expressed through sales figure for this service on the market under investigation. Competitiveness of service is reflected in its ability to compete with other services, and to win the maximum number of customers to whom it is aimed, with the help of an interconnected set of conditions, limitations and risks, which are its constituent conditions in the specified time.
Growing competition forces banks to be very careful about the competitive advantages of the services that are valued by consumers and which can not be ignored. Each bank at given point in time has its own set ofbanking services, which are at certain stages of the life cycle, owing to external and internal factors, can lead either to an increase in sales volume and profitability of services or to reduce the demand for services of the bank, reduce their profitability and even of losses.
Section 17. Economics and management
The quality of banking product and service can be defined as the totality offeatures and characteristics ofthe product, which gives to the bank ability to meet conditional and anticipated needs of customers. The quality ofbanking services depends significantly on the comparison process by customer of expectations of its quality prior to its consumption with the perception of the quality of banking services during and after its consumption. The perception ofthe quality ofbanking services takes place in two main aspects: what exactly client receives from the banking service and how client receives the banking service.
The differentiation of the quality of services, as well as the general orientation to improve the quality of customer service, raises to banks the problem of defining criteria of quality banking products. In principle, there are two possible approaches: from the perspective of customers and in terms of the banks.
The approach from the perspective of customers to the quality of banking products highlights the problem of maintenance. Here, the most important are: the speed of service, promptness of operations, working hours of a bank, errors and inaccuracies in the work, the quality of counseling. The client compares the quality of banking services with their prices and other banks-competitors.
With regards to the bank approach, quality criteria are as follows: the speed of the internal work processes, the level of costs for the correction of errors, the productivity ofbank staff, bank employees' mo-
tivation and other factors that are compared with the level of costs for the production ofbanking services. It is obvious, that in management two groups of quality criteria should be taken into account [1].
Quality work with clients requires that bank staff not only great in economic preparation, but also good knowledge of the basics of human psychology, business ethics, the ability to negotiate. In many cases, it is difficult or almost impossible for customer to assess major measurer of the quality of services, which is banker's qualification. Therefore, it is very significant the importance of the environment and the availability of additional services: personal attention, courtesy, responsiveness of staff, communication in the language of the client, the ability to listen, to give advice on matters of interest to the client, and others.
In order to achieve competitive advantages, commercial bank is required to invest directly in customer acquisition and promotion of its services in the market. Herewith, success depends on how the bank will be able to find their competitive advantages, including its individuality and clientele, will be able to adapt to customer needs and create new demand for banking services and products.
The following table presents the peculiarities of banking services and customer requirements, which should be considered in formation of the strategy of achieving competitive advantages of a commercial bank.
Table 1. - Features of banking services and customer requirements underlying the competitive advantage of a commercial bank
№ The characteristics of the services Clients' requirements for services underlying the competitive advantages of a bank
1. The abstractedness of services, is reflected in the inability to see and evaluate service before its receipt The customer demands higher requirements to the bank staff, bank equipment, the design of premises, etc.
2. Sources of providing services, which are bank staff or equipment. The client is in direct contact with bank employees in process of receiving services. Only routine services that do not require human intervention are automated
3. Inability to storage services In order to provide a full servicing during peak periods, bank should engage staff from other departments
4. Contractual character of providing services The nature and content of the contract should be clarified to customer
5. Any banking service is related to money Customer should entrust his money to a commercial bank, and the bank should make an effort to strengthen this trust
6. Spread of providing service It is required to optimize customer relationships during their cooperation with the bank
7. Recognition of the bank's service Customer perception of the receipt of unique service, enhances the competitive advantages of the bank
The table is developed by the author
As table 1 shows, commercial banks, in implementing activity focused on customer needs, increase attention, on the one hand, to study of the banking market, on the other hand, to preservation of existing and attracting ofnew customers. Therefore it is required to analyze the organization and carrying out marketing planning, the implementation of which provides banks a competitive advantage, allowing to concentrate resources on priority groups of clients and effective directions of the activity, making it possible to respond more quickly to market changes, increasing market share, sales volume and profitability of the bank.
The solution for increasing competitiveness of banking products and services, expansion of bank's activity, finally for its own competitiveness is development of competitive strategy of growth, enabling to formation of competitive advantages of bank, as well as regulation of the competitive position in the banking market, considering the current changes in customer preferences.
In the modern context, competitive advantages of commercial bank are determined by the degree of its compliance with offered bank products and services to customers' needs and to strong growth
ofits customer base. The growing competition in the banking market, exacerbated by the development of a network of pawnshops, makes bankers to link the future of their business with the development of its customers' business and their strategic goals and objectives. The bank should implement the most important thing for the customer.
Eventually, formation and development of competitive advantages of a commercial bank is determined by the value for the customer, which is created in four ways: improving the quality of banking products, competence and professionalism of bank staff, which are reflected in the quality of customer service, lower prices of banking services (which is beneficial for the client) and creating conditions for the development of the client's business. In other words, the bank's competitive advantage depends on what the customer actually receives in the form of value to him.
In our opinion, the aforementioned internal and external competences collectively define a complex of systemically important factors and conditions underlying the formation of competitive advantages of the commercial bank (Figure 1).
Figure 1. Systemically important factors and conditions underlying the formation of competitive advantages of a commercial bank
As can be seen from the figure, for the formation, implementation and retain of competitive advantage by commercial bank, it is required certain conditions. In our opinion, required conditions are as follows:
• based on an analysis of client needs and the latest developments in banking business, credit organization should permanently implement innovation;
• continuously develop and introduce new banking products and services;
• features of the bank due to the qualifications, initiative and professionalism of the staff, which requires continuous training of bank staff;
• bank should stand out by its dynamic capabilities of introduction of products and services, which are required by customer;
• adapt to the continuous changes in the business environment of its clients;
• bank should take care of the attractiveness of its brand, image and efficiency of business processes, organizational structure and other intangible assets, including the knowledge and professionalism of the bank staff.
Conclusion: Competitive advantages of a bank definitely should be reflected in product, price, quality of service, low costs and in other figures of activity of commercial bank, i. e. they should be measured and evaluated by economic indicators: higher profitability, greater market share, high volume of sales, large number of attracted customers, and others.
References:
1. Фатхутдинов Р. А. Управление конкурентоспособностью организации. - М.: Издательство «Эксмо», - 2004. - 541 с.
2. Тавасиев A. M., Ребельский Н. М. Конкуренция в банковской сфере. - М.: ЮНИТИ, - 2001. - 304 с.
