Importance of Pestle Analysis for Royal Bank of Scotland

BUSINESS ENVIRONMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Task 1...............................................................................................................................................3
Governance and structure of Royal Bank of Scotland.................................................................3
Task 2...............................................................................................................................................5
Importance of carrying out PESTLE analysis for Royal Bank of Scotland................................5
Task 3...............................................................................................................................................6
Pestle framework to analyse the external environment of Royal Bank of Scotland...................6
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................1

INTRODUCTION
The factors involving internal and external factors like employees, customers needs and
expectations, supply and demand, management, clients, owners, suppliers, innovation in
technology, market trends, activities by government, social trends, economic changes, etc., and
how these factors effect the functioning of the company and its business environment and
situation.
The Royal Bank of Scotland group operated in UK and have the headquarters in Edinburgh, is
worlds the largest banking and financial service groups. The Pestle analysis and how it works to
help the bank in developing. Importance of Pestle analysis like cost-effectiveness, deeper
understanding, alertness development, exploit opportunities. Various factors like political
economical, social, technological, environmental and legal, which are effecting the Royal Bank
of Scotland in ways.
MAIN BODY
Task 1
Governance and structure of Royal Bank of Scotland
Organisational governance can be defined as system through which rules and regulations
in organisation are developed and implemented in pursuit of organisational objectives.
Governance of organisation also involves planning and implementing a framework through
which organisation is functioned and controlled (Maklan, Antonetti and Whitty, 2017). Royal
Bank of Scotland adopts the highest standards of governance of organisation, business integrity
and professionalism in all practices of organisation.
Royal Bank of Scotland is governed by its Board and Committees. In this board of Royal
Bank of Scotland is principle decision-maker and fulfils responsibility of leading and managing.
In this board approves strategy that is implemented in organisation and on the basis of strategy
implemented performance of the organisation is monitored. In order to govern organisation
formal schedule has been reserved for board that they discuss and these are those matters that are
specifically discussed by board only. These are matters that are key aspects of organisational
operations and affairs. This schedule is reviewed annually.