Mastercard: Creating a World Beyond Cash

Table of Contents

Case Analysis
Problems
Possible Solutions
Recommend Solutions
Expected Outcomes
Conclusion
Reference

Case Analysis

This thematic analysis aims to study Mastercard, one of the worlds leading payment networks. This study will be based on the case study by Gupta et al. (2022) titled Mastercard: Creating a World Beyond Cash. The main tasks in this work are the identification of strategic issues, possible solutions, recommended strategic management decisions, and expected outcomes of this solution.

Problems

First, it is necessary to the define strategic issues which Mastercard faces. Based on the information provided in the case study, it can be concluded that the company has several disturbing aspects. One of them is the rapidly evolving payments landscape, which poses several threats to Mastercard. The threats include the democratization of the banking system, which can lead to high user fees and a lack of transparency. Another problem is the rise of blockchain and cryptocurrency, which is the growing interest in digital currencies.

Possible Solutions

Based on the highlighted strategic issues, embracing new technologies such as blockchain and cryptocurrency becomes one of the possible solutions for Mastercard. The main advantage of this choice is the improvement of security, which reduces the possibility of various frauds. This initiative will also improve the quality of the payment systems. Moreover, introducing these technologies will allow the company to gain competitiveness and market advantage. Another strategic decision may be to join new markets to diversify their revenue streams. This initiative is also related to the technological development of Mastercard and will be consistent with its strategy of Growth-Diversity-Build (Gupta et al., 2022). Despite the effectiveness of blockchain and cryptocurrency, it is worth remembering that the company may have difficulties regulating this aspect. This requires the development of different regulatory measures to reduce the possibility of violating the organizations and its customers security.

Strategic management decisions, which can be applied to resolve issues that have arisen in the company, can be embracing new technologies. This initiative should be considered taking into account external and internal factors before being implemented. The companys managers must assess the organizations readiness for these changes, conduct market analysis, and train employees. Furthermore, it is crucial to invest in extensive research of blockchain and cryptocurrency, highlighting the advantages and possible difficulties for the company. In addition, the introduction of new technologies requires the formation of strategic partnerships. The Master card should investigate all possible organizations and platforms that are engaged in the regulation and maintenance of blockchain infrastructure.

Expected Outcomes

The introduction of new technologies provides significant advantages for the company. One of the expected results of implementing the recommended solution is the acquisition of new talented specialists and the encouragement of skill-building and knowledge-sharing processes in Mastercard. Moreover, increased market share and profit are anticipated, resulting from the expansion of the companys technologies and an increase in the consumer base. Regarding customers, it is expected to increase satisfaction with services due to compliance with new trends in the field of payments. Another outcome is suggested to improve the ability of Mastercard to navigate the rapidly evolving payments landscape and decrease user fees and a lack of transparency.

Conclusion

In conclusion, even though Mastercard is the leading payment network in the world, it continues to face some problems related to strategic management. This is due to the constantly changing market and consumer needs. To resolve these issues, the company was offered the introduction of new technologies, such as blockchain and cryptocurrency. These initiatives will significantly improve performance and competitiveness and increase customer satisfaction.