Analyze the competitive structure of the broker dealer industry

Analyze the competitive structure of the broker dealer industry. What are the principle drivers of profitability in this industry? How have changing regulation, demographics, and technology impacted upon competition in the industry over the last two decades? (3)

How was Schwab able to emerge from the pack of discount brokers established in the late 1970s to become the category leader by the mid 1990s? (3)

How was Schwab able to make the shift from a “tradition” discount broker to an “online broker”? What lessons about managing strategic change in a turbulent environment can be drawn from the Schwab case? (4)

Extra credit:

How does the business model of a discount broker like Schwab differ from that of a full-service broker? (2)

What are were main elements of Schwab’s competitive advantage by the mid 1990s? (2)