Sustainable Business Strategies for NatWest
Added on 2020-04-21
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Running head: BUSINESS STRATEGYSustainable strategy reportName of the studentName of the universityAuthor Note:
2BUSINESS STRATEGYTable of ContentsTask 1...............................................................................................................................................4Introduction......................................................................................................................................41.1 Problem Statement.....................................................................................................................41.2 Key Forces for Change..............................................................................................................4PESTEL Analysis............................................................................................................................41.3 Competitive Dynamics..............................................................................................................7Figure No 1– Porter’s Five Forces Diagram....................................................................................91.4 Critical Success Factors...........................................................................................................11Task 2.............................................................................................................................................122.1 Position Statement...................................................................................................................12Figure 2- Strategy Diamond..........................................................................................................122.2 Sustainability Arena.................................................................................................................14Figure No 3 – Sustainability Arena...............................................................................................142.3 Sustainability Vehicle..............................................................................................................15Table No 1– Ansoff Matrix...........................................................................................................152.4 Differentiation..........................................................................................................................16Figure No 4- Bowman’s Strategy Clock.......................................................................................16
3BUSINESS STRATEGY2.5 Sustainability Staging..............................................................................................................182.6 Economic Logic.......................................................................................................................182.7 Evaluating Measures for Sustainable Strategy Implementation..............................................19References......................................................................................................................................20
4BUSINESS STRATEGYTask 1 IntroductionNatWest or National Westminster Bank is one of the largest retail and commercial bankof United Kingdom. The bank was established in the year 1968 by the merger of WestminsterBank and the National provincial Bank. The following report is based on the sustainable strategyreport of NatWest Bank. 1.1 Problem StatementNatwest Bank has seen torrid times in the last few years with a number of problems emergingone after the other. The main problem as of now is the failure of the online banking systemwhich has resulted in a huge customer backlash from the bank. The customers face huge risk asthey are in the fear that their online accounts may be hacked. The online failure of the bank willhave a direct impact on its reputation and will prevent them from attracting potential customers.The bank will also lose the support of the stakeholders in such a case. The management ofNatwest must issue a strong statement to the media and assure the customers about the safety ofthe accounts as well as appoint a networking expert to make sure such incidents do not happen inthe future.
5BUSINESS STRATEGY1.2 Key Forces for ChangePESTEL AnalysisThe PESTEL analysis of Natwest Bank is an analysis of the macro environment that hasa direct impact on the mentioned bank of United Kingdom. The external factors usually are notin the hands of the business organization and thus they may act as a threat or opportunity to thesuccess of the business organization (Armstrong et al. 2015). Political2016 was a challenging political environment for United Kingdom because of the presentsituation of BREXIT. The political situation of Britain is thus quite problematic for thebank to make progress.As a result of BREXIT the UK government has to amend the constitution and change thelegal, economic and political rules and regulations of the country. Therefore themanagement of the mentioned bank has to amend their own rules and regulations whichwas earlier based on European Union laws and regulationsTrade regulations will be implemented on UK which will have a direct and long lastingimpact on the business transactions of Natwest bank as they will have to abide to anumber of different rules that will affect their performanceEconomicalThe economic system in UK is in shambles after the announcement of the country’sseparation from the European Union (Armstrong et al. 2015). The management of thebank will have to come up with new policies to effectively deal with the situation.
6BUSINESS STRATEGYHowever the bank can attain profit from its overseas facilities where there are no suchrisks involved.The success of the bank depends on the economic growth rate of the country and viceversa. SocialThe social network of the organization depends on the demographics like age, gender,income and other such related elements (Bhardwaj and Malhotra 2013)Education is one of the key aspects in the determination of the social analysis of theNatwest bank.The leisure habits of the people are also another important consideration of theorganization.TechnologicalThe implementation of the latest technologies has been of great help for the mentionedbank as because they have been able to easily cope up with the complex pressures ofmodern banking (Armstrong et al. 2015)The implementation of the latest ERP software in the server of the bank proves theefficiency of the bank to handle both domestic and international banking with easeThe use of the technology has been of great use for Natwest to make sure that theymaintain a competitive edge over their rivalsEnvironmental
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