Answer to Question #200517 in Management for Abdullah Zahid

Question

Pick a well-known business organization that provides its annual reports at its website.

From the information in the articles and annual reports, answer these questions.

1. What is (are) the main industry (ies) in which the company competes?

2. What business-level strategy does the company seem to be pursuing in this industry? Why?

3. What corporate-level strategies is the company pursuing? Why?

4. Have there been any major changes in its strategy recently? Why?

1. Introduction 150 words

- Company introduction with history, products and services and key statistics/facts

including, revenue, profit, number of employees, etc.

- Introduction to organizational strategies.

- How does your assignment cover organizational strategies? What are implications of the

assignment’s findings for the company?

3. Conclusion (150 words)

- What you have done/covered in the assignment?

- Key findings

- Recommendations for the company so that existing issues and problems of organizational

strategies may be addressed.

Answer 1

Case of Standard Chartered Bank

1.     Standard Chartered Bank operates in the banking sector.

2.     The business level strategies that the bank is pursuing are listening to their customers and easing operations to become a faster, simpler and better bank with sustainable returns and growth. These strategies will help the bank to have a market niche or competitive advantage over their rival banks operating in the same industry.

3.     The corporate level strategies that the bank is pursuing are establishing a secure foundation which will come with a balance between client and product ratio as well as approaching risks strategically. These strategies will help the bank avoid risky businesses as well as roll out products and models that will not do so well in the market.

4.     The bank reviewed their organizational strategies in the year 2015 in order to be more customers focused, improve innovations and well as improve on the products and services that they were offering to the customer

Introduction

Standard Chartered Bank is a multinational bank from Britain with its headquarters in London England that offers financial and banking services. The bank operates more than 1200 branches all over the world and has over 87,000 employees with a presence in over 70 countries all over the world. In the year 2020 the bank had a total revenue of 14.754 billion dollars and a net income of 0.751 billion dollars.

Organizational Strategies

 An organization strategy can be defined as a plan on how an organization allocates resources to support business activities. Standard Chartered Bank organizational strategies since their last review in the year 2015 have been laying a very strong foundation, building a business that is both lean and focused and finally innovating and investing in order to capture more growth opportunities.

Organizational Strategies implications

Since their inception in the year 2015 the bank has made a strong case for trying to achieve most of the goals and targets that they had set but they are not where they would have wanted to be. The bank should be more focused on listening to their customers, easing operations to become a faster and simpler bank with high sustainable growth and returns and improve their financial and banking services. How the bank will know that they are in the right track is by the use of Key Performance Indicators (K.P.Is) for the next three years, with the main K.P.Is being increase in profits, increase in operating income, improved digital adoption from the customers and acquiring more customers.

 

Conclusion

The assignment tackled on the organizational strategies, history and services offered by Standard Chartered bank.

Key Findings

The Standard Chartered Bank organizational strategies as they stand are focused on their customers as well as growing the business. As much as this is good for the current and near future the bank should also be thinking on how they can be futuristic by improving on the innovations and infrastructure.

  

Recommendations

The bank should aim at more innovations in terms of Information Communication and Technology (I.C.T) and works towards fully digitizing their services as well as tailor making corporate and individual banking models that are customer oriented. The bank should also digitize their retail banking platforms with particular emphasis on distributed ledger technology, ecosystems and platforms. By doing so, the bank will have solved existing problems and issues in their organizational strategies and be a futuristic bank.

  

Reference

Standard Chartered Bank Strategic Report, 2018