• Research Paper on:
    The Currency Market; Currencies Direct- Company and Industry Analysis

    Number of Pages: 20


    Summary of the research paper:

    This 20 page paper examines the position of the currency exchange market for individuals and small to medium sized enterprises(SME's) it the UK. The paper focuses of Currencies Direct Ltd, the first mover in this market to seen up a specialist operation. The paper looks at the company and the market and performs a Porters Five Forces Analysis and a SWOT analysis. The bibliography cites 15 sources.

    Name of Research Paper File: TS14_TEcurrendir.rtf

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    Unformatted Sample Text from the Research Paper:
    of Suppliers 14 3.5 Substitutes 17 4. SWOT Analysis 18 4.1 Strengths 18 4.2 Weaknesses 19 4.3 Opportunities 20 4.4 Threats 21 5. Conclusion 22 1. Introduction Currencies Direct Ltd is a business that seeks to pass on savings of buying  currencies in baulk to customers, giving them a competitive advantage to attract customers. The target market are business and private customers that need foreign currency at levels which are to  small or at frequencies which preclude them from the benefits of larger transactions undertaken by large corporations and prevent them from using many of the tools used by these corporations,  such as hedging, futures and options. The company faces a great deal of competition and the environment in which t operates may change in the future if the UK  adopts the Euro. The purpose of this paper is to consider the company itself and the industry in which it operates to form and analysis that can be used to  develop a plan to help Currencies Direct retain business and the current competitive advantage. 2. Currencies Direct Ltd. The company started up in 1996/7 after seeing a gap in  the market between the large corporations which used many currency planning tools and the smaller market which supplied small amounts of currency at higher prices (Currencies Direct, 2005). This means  the target market were small to medium sized enterprises (SMEs) as well as to a lesser extent, consumers who needed to make large transactions, such as for the purchase of  a foreign property (Currencies Direct, 2005). The company started up with little backing, only ?8,500 in start up capital. The company started off with a small London office situation  in Paddington, and within the first year generated a turnover of ?12 million (Currencies Direct, 2005). The company have gained a first mover advantage in serving this market in this 

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