Chapter 617: A Tit-for-Tat Struggle

It was perfect timing, Hannah thought. Justine, Oscar's aunt and family representative, was finally going to meet her nephew's wife formally.

"Don't worry," Hannah reassured her. "She's nice. She just wants to meet her nephew's wife formally."

"Which day?"

"I'll let you know when she sets a time."

"All right."

"I have to go to a meeting," Manuel said, seeing Susan at the door. "Bye."

Manuel hung up, then asked Susan, "Has the meeting started?"

"In ten minutes," Susan replied.

"Okay."

Susan turned and left, feeling unfairly burdened with the duties of both assistant and secretary. She was irritated.

Ten minutes later, the high-level Phillips Bank conference began. Susan sat behind Manuel. Tension filled the room.

"Things look bleak," Joe Harper, the chief marketing officer, began. "Sway Bank has expanded into commercial lending, and our Inbound Market Department has gathered substantial information indicating many companies plan to partner with them."

"Which companies are negotiating with Sway Bank?" Edward asked gravely.

"Here's the list," Joe replied, displaying it on the screen. "These are our current partners with expiring contracts."

Edward's expression hardened.

"Sway Bank is new to Kensbury City," Manuel interjected. "How do they have such accurate information about our customers?"

Joe was speechless, unsure how to respond.

Henry glanced at Manuel, surprised by his astute observation. "Sway Bank is a top-tier bank," Henry said. "Didn't they conduct market research before arriving? Manuel, this isn't the time to question them; we need to strategize." Henry's tone was somewhat condescending.

Manuel remained calm. "You make a good point. As you're responsible for marketing, what's your assessment of Sway Bank's market penetration?"

Henry, taken aback by Manuel's direct approach, felt embarrassed. He paused, then said evenly, "In my view, we should employ public relations tactics and engage in a tit-for-tat struggle against Sway Bank. We must prevent them from poaching our clients. Frankly, we can afford to let our clients retain more profit. We must maintain our market share, not just revenue."

Just as some executives were about to agree, Manuel bluntly stated, "I disagree."

Henry's face fell. Tension escalated. Susan, observing from behind Manuel, sensed his charisma and noted Henry's displeasure, but remained silent, understanding the inappropriateness of casual commentary.

"So, you'd simply watch them steal our clients?" Henry challenged.

"No," Manuel replied. "I disagree because if we cut profits to retain clients, competitors will learn, forcing us to offer lower prices on expiring contracts, leading to diminished revenue for Phillips Bank. Can we guarantee Sway Bank won't undercut us?"

Henry looked displeased.

"A price war is a destructive competition," Manuel continued. "It hurts both sides, and I won't consider it. Do you have a better strategy?" Henry's tone was laced with irony.

Manuel glanced at Henry, then addressed the other executives. "These companies value not just price, but also our service, quality, efficiency, integrity, and customer relationships. I've thoroughly investigated these long-term partners. First, we determine their willingness to switch banks, then develop personalized plans to meet their individual needs. A price war is unwise without careful consideration."

Henry remained silent. Henry's price-cutting strategy lacked support; Manuel's personalized approach was far more practical. Henry, frequently humiliated by Manuel lately, observed Susan's attentive and seemingly supportive demeanor, further fueling his displeasure. He controlled his anger.

"President," Manuel said to Edward, "I suggest forming a special task force to address Sway Bank's competition."

"Agreed," Edward responded immediately. "I grant you full authority."

"Thank you. I won't disappoint you."

"Excellent." Edward's trust in Manuel was evident. The conference adjourned, recognizing the need for more time to address the competitive challenge.

A special task force of thirty members, comprised of key personnel from each department, was swiftly assembled upon Manuel's return. Henry's exclusion enraged him; he felt isolated and threatened by Manuel's potential success.

"No! I won't let him succeed," Henry vowed.