Strategy and Change management- Natwest Bank

Change management-
NatWest Bank

Table of Contents
Executive Summary ........................................................................................................................1
INTRODUCTION...........................................................................................................................1
Company Background.....................................................................................................................1
Section 1 ..........................................................................................................................................1
Market size of NatWest bank .....................................................................................................1
Fin tech use.................................................................................................................................2
Strategy planning process...........................................................................................................3
Section 2 ..........................................................................................................................................4
Analysing McKinsey strategy change model..............................................................................4
Section 3...........................................................................................................................................5
PESTEL Analysis........................................................................................................................5
Porter's 5 forces ..........................................................................................................................7
Porters generic strategies ............................................................................................................8
Section 4 ..........................................................................................................................................9
Recommendations ......................................................................................................................9
CONCLUSION................................................................................................................................9
References:.......................................................................................................................................9

Executive Summary
In the organisation the objective of change management is to implement strategies for
having effective change, and helping people for adopting change. The change in business is
constant and inevitable. For the study NatWest is taken which is an retail and commercial bank
offering various banking services to customers. The report was being divided into four sections.
In the sections the topics were covered related to the market size, Covid-19 impact and use of fin
tech. Further, the NatWest analysis the strategies for attaining the competitive advantage. In the
report strategic planning process is defined by using the model of William strategy management
model.
1

INTRODUCTION
The change management is the collective and systematic approach which deals with the
transformation of organisational goals, processes and technologies. The change management
helps in encouraging future growth of company by allowing it to remain dynamic in marketplace
(Bowe, R and et.al., 2017). The report is based on NatWest Bank which covers company
background. The report is divided into section in which first section is about bank market size,
Covid-19 impact and exploring strategy planning process. In 2 section the analyse has been made
on McKinsey Strategy change model. The 3 section deals with PESTEL and porters five forces
for analysing environment of bank. Lastly, recommendation is provided for the most suitable
strategy.
Company Background
The NatWest Bank is known as National Westminster Bank which is a major retail and
commercial bank in UK. The bank was introduced in 1968 by merging the national provincial
bank and Westminster bank. The bank was established by Sir Howard Davies and Alison Rose.
In 2000, it became part of Royal bank of Scotland Group which was re-named as NatWest Group
in 2020. It has large network of over 960 branches and 3400 cash machines across Great Britain
and also offers 24-hour Action line telephone and online banking services. The bank has more
than 7.5 million personal customers and 850,000 small business accounts (Boyd, B and et.al.,
2017). The bank deals with the products of banking investments, lending and Insurance, credit
cards, corporate banking. In the British Bank Awards the NatWest was awarded as best banking
app. The bank operates “mobile branches” using converted vans to serve rural areas. This service
allows customers for carry their banking transactions in remote areas where there is no branch.
Section 1
Market size of NatWest bank
The term market size is related with the potential number of customers or sales in a given
year. The market size is determined by the company before introducing new product or service.
By 2020 NatWest bank was ranked as 12th largest bank in united Kingdom of total assets by
having 2.54% of domestic market share. By the market capitalization it is fifth-largest bank in
world. By 2009 it was the worlds largest company by both assets (£1.9 trillion) and liabilities
2