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Concept of Strategic Management PDF

   

Added on  2020-09-03

11 Pages3009 Words41 Views
StrategicManagement

EXECUTIVE Summary The complete report is based on the concept of strategic management. In the presentreport the several analytical tools such as porter five force model , key performance indicatorframework have been used just for identifying the strategic position of Lloyds Bank.Assignment has focus on identifying the strategies used by an organisation in order to achievesuccess and fostering growth. In present assignment critical evaluation of the organisation'sstrategy has been done. Report will highlight the important strategies used by Lloyds Bank foraccomplishing business objectives.

Table of ContentsINTRODUCTION...........................................................................................................................4Company Profile :......................................................................................................................4Analysis of the organisation’s strategic position using relevant KPIs........................................7Analysis of organisation's strategic direction..............................................................................8Critical evaluation of the organisation's strategy........................................................................9Conclusion.....................................................................................................................................10Recommendations..........................................................................................................................10

INTRODUCTIONStrategic management is defined as the procedure which includes the development aswell as implementation of plan developed by the management team in an organisation. Strategicplans provides the direction or path which drives firm towards accomplishment of businessobjectives. Strategic management process also involves establishment of targets as well as goalsby top level management in an enterprise considering the availability of resources. The processof strategic management is a continuous one that changes as the organizational goals andobjectives. It supports business entity in increasing effectiveness as well as efficiency.The present report has focus on identifying the strategies adopted by the Lloyds Bank inorder to achieve success and foster growth in financial sector. It also emphasizes on identifyingthe strategic position of a firm in an industry.Company Profile :Lloyds Bank is recognised as the retail and commercial financial institution which has itsbranches in mainly in two location these are wale's and England. It is also popular as Big fourclearing banks. Lloyds Bank is the largest financial institution in Britain. An organisation has anextensive branch which enables firm to deliver the services to the wide number of customers.Business entity also provides 24-hour telephone and online banking services. Bank has widenumber of customer and some clients have small business accounts. Firm also operates manyoffices, brand headquarters as well as data centres. Lloyds Bank provides wide numbers range ofbanking as well as other financial services. An organisation also offers funds domestic , regionaland national charitable institutions working to tackle disadvantage across England and Wales.The strategy of forming the partnership with charitable institution has allowed business entity togain popularity. It has also provided firm a chance to generate brand awareness. Company alsooffers wide range of financial products as well as services such as savings, current account,credit cards , mortgages and loans (Johnson,2017)Objective of Lloyds Bank is to support Britain in developing prosperity. An organisationalso intends to operate more responsible business by catering or fulfilling the needs of widenumber of customers. Vision of Lloyds Bank is to become the leading institution in financialsector. Business entity in order to accomplish its vision has focus on three values these are givingpriority to the needs of customers, simple business procedures and making different businessdifferent from other competitors by providing additional services to customers.

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