Change Management in Loyds Bank: Strategy and Analysis

Change Management
CW2 – Assessment

Table of Contents
Executive Summary.........................................................................................................................3
INTRODUCTION...........................................................................................................................4
Background of company..................................................................................................................4
Section 1...........................................................................................................................................4
1.1 Market size of bank..........................................................................................................4
Fin tech use- apps the bank is using.......................................................................................5
The impact of covid 19...........................................................................................................5
Net zero target sustainability..................................................................................................5
1.2 Critically explore the strategy planning process using William’s strategy management
model......................................................................................................................................6
Section 2...........................................................................................................................................6
Critically analyse how McKinsey strategy change model is being applied by bank when
dealing with strategic change.................................................................................................6
Section 3...........................................................................................................................................8
Develop a PESTEL and porter’s 5 forces analysis to critically analyse the external
environment of the bank.........................................................................................................8
Identify opportunities and threats as key drivers for change................................................10
Porter’s generic strategies.....................................................................................................11
Section 4.........................................................................................................................................12
Recommendations................................................................................................................12
REFERENCES..............................................................................................................................13

Executive Summary
This report will cover different aspects of change management within an organisation that
impacts the functionality of the business. Within this report, different models that are concerned
with the change management will going to be discussed and some of these models and tools
include Pestle analysis, porter’s five forces, porter’s generic strategies, McKinsey 7s model and
many more. Additionally, this report will also cover the recommendations given to company for
enhancing the level of productivity, profitability and efficiency within the business.

INTRODUCTION
Business management refers to the arrangement as well as coordination of the multiple
operations of an organisation. Change management is considered as a systematic approach for
the purpose of dealing with the transformation or transition of the objectives, processes or
technologies of a business (Akbar and et.al., 2019). Within this report, Loyds Bank is taken into
consideration as an organisation for demonstrating different aspects of this report. There will
background information of respective bank and along with it, this report will also cover critical
exploration of strategy planning process by using William's strategy management model.
Additionally, this report will also cover discussion of McKinsey strategy change model along
with pestle analysis and porter's five forces to analyse external environment. Moreover,
recommendations will be given to bank in order to gain competitive advantage over competitors
in marketplace.
Background of company
Within this report, Lloyds Bank Plc is taken into account which is a British commercial
and retail bank having various branches throughout the world. The bank was founded in the
month of January in year 2009 and is considered as a Public Limited Company. It is the largest
retail bank within the Britain and also has a great network of the branches as well as ATMs in
the Wales and England. Lloyds Bank Plc offers 24-hour online and telephonic services of
banking. The retail division of the bank is a leading provider of a wide variety of services such as
mortgages, savings, loans, current accounts, credit cards, motor finance and insurance. In the
year 2012, the respective bank had 16 million small business accounts and personal customers
(Buschow and Suhr, 2022). Lloyds Bank Plc has traditionally been considered as one of “Big
Four” clearing banks. The bank has its operational headquarters in London and other multiple
offices in Scotland as well as Wales. This financial organisation also operates a large number of
complex offices, data centres, brand headquarters in Yorkshire, Birmingham and many more
places.
Section 1
1.1 Market size of bank
Market size is defined as the maximum overall number of sales operations or the
customers the business can see which are often measured over the course of a year. As of May