Contemporary Developments Business & Management Assignment

Contemporary
Developments in
Business and
Management

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................1
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
External influences of organisations and its impact...............................................................1
TASK 2............................................................................................................................................7
Relevance of ethics and CSR to Standard chartered bank and their impact on policies and
decision making process.........................................................................................................7
Effectiveness of organisational response................................................................................8
Areas of improvement as a response....................................................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

EXECUTIVE SUMMARY
This project assignment describe the major key aspects that are assistive in terms which
spreading business activities at global level. It is a case study of the Standard Chartered Bank
that is one of the leading financial sector. In addition, the overall revenue of this enterprise is
$14.060 US billion and its total equity is $44.368. The firm performs in competitive market and
for this it uses different tools and techniques.
INTRODUCTION
Business environment has a crucial role in vitality and advancement of a corporate
association. In this over dynamic world, it is essential for business entities to understand internal
and external environment and all those factors which can effect market reputation of the
company in an adverse manner. In which internal factors consists with employees, organisational
cultural, demand, supply, laws and legislations. On the other hand, external factors are political,
economic, social, technological etc. which put huge impact on advancement of a business unit.
Therefore, managers need to conduct market analysis so as to gain better outcomes (Abuznaid,
2017). The coursework is based on contemporary developments in management; the objective of
this project is recognise the decision making frameworks within organisations. Readers will also
come to know that how business environment effect working operations of the company.
Furthermore, there will be a discussion on importance of corporate social responsibilities for the
company. While considering the area of discussion, Standard bank is the chosen organisation as
it is more hindered by external environment cause it perform at international level. In addition,
Standard bank is a British overseas bank that is mainly operate in Africa then it was merged with
Charted bank and become Standard Chartered bank. The main services of Standard chartered
bank is – credit cards, corporate, consumer and investment banking, mortgage loans and wealth
management.
TASK 1
External influences of organisations and its impact
Due to globalisation, business entities are emerged in new markets. Additionally,
globalisation consists with interdependence of nations on each other. In this, individuals and
organisations interact at worldwide that aids in reach to more and more resources for a business
unit. Standard Chartered Bank operates at global level and hindered by different factors. As per
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the research, it has revealed that Standard Chartered bank is always focused on strategic alliances
and mergers with other financial institutes so as to obtain maximum competitive edge at global
level. Globalisation is really beneficial for the company in order to compete with external rivals
(Banerjee, 2012). When Standard bank merged with Chartered bank, it had take time to adjust in
local cultural of UK. It results, the firm uses various principles so as to easily accept changes in
external environment. Along with this, company worked with local people of British which helps
it in raising cultural knowledge and also provide suggestions so as to run business operations in
an effective manner. SCB wants to be proactive, in such way it wants to exceed buyers'
expectations, that why they always come up with new products and services by having new and
attractive features. It is a multinational bank headquartered in London, England. It is operated in
more than 1200 branches and outlets across 70 countries and employs around 87000 people. It is
a constitute of FTSE100 Index. Having established the sufficient number of branches, it is
considered the prominent bank in financing. It does not conduct retail banking in the UK, and
around 90% of its profits come from Asia, Africa and Middle East. It is listed on the London
Stock Exchange, the Hong Kong Stock Exchange and the National stock Exchange of India. The
name have been derived from the two names: the chartered bank of India, Australia, china and
standard bank of British south Africa. These are the major goals and objectives of SCB, such as-
 To be trusted and respected over the globe
 To treat every customers with integrity.
 To deliver services which will continuously delight buyers
Hence, it is cleared that external business environment put a immense impact of
spreading working activities. For example- changes in political condition of UK also effect will
bear customers' purchasing power. If British government decreases tax duties and interest rates
then it will assistive in enhancing sales and profitability of financial institutes (Barker and et. al.,
2011). Standard Chartered bank supports the process of globalisation and victimized the trend so
as to become global financial entity.
For accomplishment of its vision, the financial unit conducts an external environmental
analysis for getting higher market share. They are using different strategies and policies so as
provide effective and qualitative services to customers with an aim of gaining higher profits.
Standard Chartered bank also supports to those small financial units which cannot generate high
profits. They merge such firms into their own so as to expand their market area. In this manner,
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