Strategic Management Analysis and Case Studies

The provided assignment content consists of various academic articles and books on strategic management, finance, and economics. The articles cover topics such as competitive analysis, financial innovation, investment decisions, and the impact of technology on banking. The texts also explore themes like income inequality, globalization, and the role of information systems in business strategy.

Strategic Management and
Leadership

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Strategic development history of company............................................................................1
TASK 2............................................................................................................................................4
Current strategic situation.......................................................................................................4
TASK 3..........................................................................................................................................10
Strategic decision for the future...........................................................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Strategic management consists of systematic process with the help of which manager of
enterprise can formulate as well as implement theframed goals and objectives. With an aim to
mark an effectual presence in the today's competitive scenario, manager of enterprise take help
from different type of tactics or strategies. Overall benefit of such type of practice will be
incurred by corporation in the form of increased profit and sales.
In order to carry out present report, Lloyds Banking Group PLC is chosen. It is the
British financial institution which was found in the year 1995. Thus, the company has been
operating in this industry for an about 21 years (Lloyds Banking Group PLC, 2016). This report
will give description about past, present and future strategies of cited company.
TASK 1
Strategic development history of company
Lloyds Banking Group PLC is the public limited company which has now established its
presence in global world. At present firm is consider as one of the most recognized bank of
United Kingdom. Hence it has successfully established its unique brand image in the eyes of its
buyers in an effectual manner (Dobbs, 2014). The whole journey of bank is not so simple. This is
because, in order to reach on to the respective position corporation has faced many ups and
downs. Furthermore, the manager of cited corporation has also framed number of strategies in
past and it is due to the tactics only Bank has now gained the respectiveposition.
In accordance with the given context, there are different strategic developments examined
which has influenced the long term direction of cited company in an effectual way. Herein, on
considering the past 21 year’s strategy of cited organization, it is analysed that it has pursued
growth in market by using merger and acquisition tactic. In the year 1995, Lloyds Bank has
merged its operation with TSB and hence become Lloyds TSB bank. With an aim to expand
range of its services, in the year 2000, firm has acquired Scottish Windows which is a mutual
life insurance company (Grant, 2016). Hence, it is by complying with the given type of activities
only cited firm has established its presence in UK as well as other markets. The merger and
acquisition strategy which cited firm has used brought number of changes in the operation of
bank.
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In this context, here manager of organization has changed its manner of carrying out its
work in accordance with the other company to whom it is merging its operation. For example, on
merging with mutual life insurance company, bank has made several variations in its operation.
For instance, with an aim to give support to this service corporation has organised training and
development programs for its employees. This is done, with an aim to improve the knowledge as
well as understanding of the employees regarding the new financial services which is of mutual
life insurance. This effort is made by manager of bank with an aim to pursue its goal of
becoming the global bank (Martins, Oliveira and Popovič, 2014). At present also, company is
relying upon the above mentioned tactic. In this context, it can be said that merger and
acquisition tactic has also helped in terms of influencing the long term direction of bank to
present. With the help of given tactic, firm has expanded its operation in number of countries.
Thus, through this way it has fulfilled the needs and demands of many of its customers who
belongs to varied nations but wants to use services of enterprise. Furthermore, this tactic has
also played very effectual role in terms of improving the brand image of corporation in the eyes
of its customers. Thus, through this way overall benefit of the same will be being seen upon
productivity and profitability of company.
Besides this, it has also being assessed that manager of cited firm has also used the
divestment related tactic. The firm has to use this strategy because of the circumstances which
has happened in front of it. The decision of divesting some of its business was taken by manager
in the year 2009. In this regard, firm had transferred around 632 branches to new business which
is being called as Lloyds TSB. This decision is taken by firm because there are some branches
which are not working well. Thus, by transferring those branches' manager of cited corporation
has made efforts in terms of improving its operational efficiency in an effectual way.
In addition to this, there is another tactic identified which has been used by Lloyds
Banking Group PLC in past many years (Hitt, Ireland and Hoskisson, 2012). Tactic which cited
corporation has used is of low cost operating model or it can be said that low cost leadership is
another most effective tactic which is being used by cited bank. Earlier manager of cited
company does not give much importance to this approach. But, gradually it has realised the
importance of given method (Hu and Yang, 2016). Thus, it has made its efforts and hence has
made the decision to sale its services at low or cost effective prices. Through this way, cited firm
has gained attraction of large number of customers. Furthermore, it is by complying with given
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type of activity only, manager of cited corporation has performed significant improvement in its
sales and profit. Hence, the given thing has helped in setting long term direction of cited
company. Here, earlier the firm does not put its much focus upon maintaining or enhancing the
satisfaction level of its buyers. This is because, its main vision is to expand its presence in
different markets and thereby perform significant improvement in company's sales. But, after
making the implementation of low cost operational tactic the given perception of corporation has
totally changed (Dobbs, 2014). It is due to the presence of mentioned aspect it has made efforts
in terms of giving more importance to the needs and demands of its respective buyers. For the
purpose to enhance the satisfaction level of buyers, manager of Lloyds Banking Group PLC has
made its efforts in terms of engaging the customers of company in its day to day operation. In
this regard, number of measures is taken by cited bank. The firm contacts around 300000
customers every month and thus passes them information about their financial health. This tactic
is effective as it assists in building the long term relationship of enterprise with its buyers.
Furthermore, Lloyds Banking Group PLC also takes feedback from its customers. This will
make its buyers feel like that they are so important part of corporation.
Furthermore, the firm is also using stakeholder engagement as its tactic. This strategy is
applied with an aim to maintain satisfaction level of all its stakeholders. Earlier manager of cited
firm does not comply with the stakeholder engagement type of tactic as it believes that it is time
consuming process (Singh and Malhotra, 2015). But, afterwards firm has changed its given
perception and hence due to which it has changed its tactic too. Hence, from that movement only
stakeholder engagement tactic is being used by the cited corporation. Herein, manager of Lloyds
Banking Group PLC is enhancing its employees through feedback system (Translating Vision
into Strategy: The Case of Lloyds Banking Group, 2016). In this context, cited corporation takes
feedback from its workers regarding the operation which it is currently carrying out. On the basis
of their given response cited corporation tend to made changes in its tactics in an effectual way.
In the similar way, Lloyds Banking Group PLC also engages with its shareholder by arranging
meetings for them. In the meeting, cited company tend to give detailed description about the
work which it is currently carrying out. Overall, it can be said that all the tactics which company
has used in past helped a lot in the task to improve the sales and profits of firm. Furthermore,
these tactics has also assisted in setting new and tactical direction of the enterprises in an
effectual way.
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TASK 2
Current strategic situation
The current strategic situation of Lloyds Banking Group PLC is analysed. In this context,
it can be said that the tactics which are mentioned above has also played very effectual role in
terms of setting the currentactical direction of cited company. Herein, it is also analysed that firm
is transforming its current strategy as per the trends and changes which are occurring in the Bank
competitive environment (Ward and Peppard, 2016). However, with an aim to give description
about trends and changes which are occurring in financial service industry assistance is being
taken from the tool such as STEEPEL and Porter's five forces analysis. Furthermore, in the given
tool description will also be given about the current tactic adopted by Lloyds Banking Group
PLC with an aim to meet different trends and changes occurring in the industry.
STEEPEL analysis of Lloyds Banking Group PLC
Illustration 1: STEEPEL analysis
(Source: Rothaermel, 2015)
 Social: This factor communicates about the needs and demands of customers. Herein, it
is examined that nowadays buyers needs with respect to using any firm's services is
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changing (Laeven, Levine. and Michalopoulos, 2015). This is because; nowadays theyare
giving more importance to the convenience related factor. In this regard, when giving
choices at that time they are gives more importance to that factor which is more
convenient to them. The manager of Lloyds Banking Group PLC is addressing the given
need of its buyers by making use of digitization type of tactic. Here, the manager of cited
corporation has made efforts in terms of digitizing many of its banking operation in an
effectual manner. Through this way, firm is maintaining the satisfaction level of its
buyers which is generally hinders when corporation does not give consideration to the
problem which is being faced by its buyers (Rothaermel, 2015). Furthermore, it has also
being examined that the trends of customization is also evolving in many sectors, hence
banking sector is not an exception. In this context, it is identified that the manager of
Lloyds Banking Group PLC is also using the approach of customization as its current
tactical direction. In this regard, the bank follows customer focused approach wherein it
provides such type of services to its customers which is being demanded by them.
Through this way, cited firm is enhancing the satisfaction level of its buyers. Hence, due
to this it is gaining benefit in the form of increased profit and sales in an effectual way. Technological: There is a significant development is being seen in the information and
communication technology. In this regard, it has been examined that there are many firms
which are using IT as the tool for delivering high quality services to its buyers. Lloyds
Banking Group PLC is investing to modernise their infrastructure and delivering quality
services to customers through digital channels. Bank is under the pressure from tech
giants such as apple, Facebook and Amazon who are the big time investors as apple is
launching its pay mobile payment service so Lloyds Banking Group PLC have to be
updated with these technologies to build consumer payments. There have been
innovations in the financial sector and they have identified the need of digital
technologies mobile, analytics (Philippon, 2015.). Bank is working to develop the new
contactless card with an embedded fingerprint sensor that could create a more secure
banking transaction known as biometrics system. With the rise of cyber-attacks,
Regulations are working to stringent the security of customers by designing the
procedures that would include recognition voice and touch to provide security services to
customers.
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 Economic: Financial Services Authority (FSA) of UK designs policies and its plans are
implemented which affects the banking sector. Lloyds Banking Group PLC have
designed its strategies in such a way that it boost the economy by giving services at low
price or additional facilities (Ward and Peppard, 2016). Currently, UK is facing inflation,
so needs to focus on its capital investment plan. In this situation, people have demand
more than its supply, it leads to hike in the prices of the product. So FSA will increase the
bank interest rate so that people deposit their savings and earn interest. Lloyds Banking
Group PLC is following all trends and thereby accompanying these all in its current
strategy. Ethics It is very important for the bank to consider ethics aspects in their operations as it
enhances their reputation and improves image in the society (Morden, 2016). Lloyds
Banking Group PLC maintains transparency with their customers as majority of investors
don't know where their money are going to invest. Nowadays, banking sector in UK are
purchasing assets worldwide to earn high returns rather than rotating the money in the
market. Lloyds Banking Group PLC has designed its customer services with regards to
maintaining clarity and accountability to the society. However, it has been seen that
absence of these 2 factors make people feel like that they are disconnected and distrustful
to the banks, bankers and financial services. Lloyds is thinking to mention the list of
projects in which they are investing investors funds and must be published in their
website. This would assist the bank to build long term relations with their customers and
encourage the firm to review its own policies critically (Lasserre, 2012.). Lloyds
Banking Group PLC have developed the software where it mentions the personal details
of their customers, so it is required to protect the personal data of clients and maintain
confidentiality related to personal details of the customers and not disclose it to anyone. It
is a member of the institute of business ethics. Legal: Financial Services Authority regulates the banking regulation of UK therefore
designs law and regulation. On 1 April 2013, there is a need of Financial Services Act to
monitor the banking sector. As per this Act, Lloyds Banking Group PLC have established
a new financial policy committee that is empowered to monitor and respond to risks.
Government has set up Prudential Regulatory Authority, a new regulator to supervise the
companies that manage risks as part of the business (Goetsch and Davis, 2014). \The
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bank complies the legislative framework in order to avoid from any legal actions such as
penalty and imprisonment. They not only themselves complies with these regulations but
also developed Group legal to render advice on legal issues to colleagues and customers. Political: The political factors greatly influenced the operations of banking sector. It
depends on the extent of the intervention of government in the economy. Legislature
makers affects the Ex tax law, labour law, trade restrictions, etc. Interest is the major
aspect of every banking section on the basis of which Lloyds Banking Group PLC frames
strategies and these interest rates are fluctuated on the basis of political factors.
 Environmental: Lloyds Banking Group PLC not only designs its strategies to earn
maximum return but also considers its responsibilities towards society in the form of
corporate social responsibility. CSR strategies for 2014-2016 of Lloyds Banking Group
PLC has put emphasis on informing and encouraging initiatives on global social and
environmental issues and want to become key social contributor to the countries in which
the bank operates or is planning to operate (Hill, Jones and Schilling, 2014). Lloyds
Banking Group PLC encourages to value talented, diverse workforce in an organization.
These all activities are sponsored by the one or more members of Lloyd's executive team.
The management have designed Responsible Business Communities to review the
Group's engagement with communities and charitable and benevolent activities. The
purpose of Lloyds Banking Group PLC is to contribute in the prosperity of Britain.
Hence, these all things indicate that the company is working upon its new tactics
effectively and efficiently.
Lloyds Banking Group PLC is engaged in the banking activities at a large pace. So it has
to design its strategies cautiously by using various strategic management tools and techniques.
Porter has designed 5 forces to evaluate the current business environment in the following ways.
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Illustration 2: Porter's 5 forces
(Source: Hu and Yang, 2016) Bargaining power of customers: This force differs from sector to sector as banking
sector has different effect as compared to the companies. The customers do not have
much effect to the banking industry, but the high switching cost of consumers. The
internet plays major role in increasing the power of customer as they can easily compare
the prices of holding accounts and rate fixed by various banks so Lloyds Banking Group
PLC have to design its strategies keeping in view these points (gic management.
McGraw-Hill). For instance, Lloyds Banking Group PLC can introduce high return
saving accounts to attract wide range of customers. Threat of substitute products: The present scenario depicts that the Lloyds Banking
Group PLC offers 5 different current accounts but each bank have similar products. So
Lloyds needs to plan out its strategies considering the capital and time spent on marketing
exiting services and researching new one. In the present scenario in UK, bank's largest
threat of substitutes is from non-financial competitors rather than rival banks as non
banking companies provides banking services such as insurances, mutual funds and
securities yielding fixed income (Hitt, Ireland and Hoskisson, 2012). Lloyds Banking
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Group PLC finds it major earning from these services (Grant, 2016). Payment method
substitutes have become challenge for the banks such as jewellers, car dealers prefers to
finance on high value items which are been offered by non-banking companies at lower
rate of interest. So this sector needs to design its strategies considering this factor and
consider this force in designing the strategy for an organization. Threat of new entrants: Researchers have found out that an average of 215 banks opened
in each year. But due to mergers and bank failures, an average number of total banks
decrease (Dobbs, 2014). Lloyds Banking Group PLC does not face the challenge to
compete from new entrants as the banking industry deals with the money and financial
information of people and people do not easily rely on these factors to the new banks and
wants to place their trust on big and renowned organisations such as Lloyds Banking
Group PLC. So this force will not have much effect on the operations and revenue of the
bank. Power of suppliers: Lloyds Banking Group PLC depends on the capital of the banks
from customer deposits, mortgage-backed securities, loans from other financial
institution and mortgages and loans. The bargaining power of suppliers depends upon the
market that generally fluctuates (Nguyen, 2015). Lloyds Banking Group PLC has the
sufficient funds to serve the borrowing needs of customer along with maintaining capital
to meet withdrawal expectations. They need to provide quality services to their suppliers
by fulfilling their expectations and needs. This will help the Lloyds Banking Group PLC
to fight against the challenges which are given by suppliers.
 Competitive Rivalry: The banking sector is considered as highly competitive sector. The
financial service industry has been growing for around hundreds of year. Lloyds Banking
Group PLC needs to plan its strategies in such a way that it establishes competitive
advantage in the banking sector (Hu and Yang, 2016). The financial institution is
planning to design its strategies focusing on lower financing, investment services, higher
returns to customers and greater convenience than their rivals.
Resource-based view is the application of a bundle of valuable tangible or intangible
resources to build competitive advantage in the firm. Lloyds Banking Group PLC needs to
design value creating strategy by using the strengths and overcoming their weaknesses. Lloyds
Banking Group PLC has able employees who are proficient with the latest technology that assist
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the management of bank to satisfy the requirements of customers (Baumgartner, 2014). It has
installed and operates the latest software that would ease the work of human resources of Lloyds
Banking Group PLC and give them more time to focus on finding the ways to take care of their
customers. They have formulated transparent policies and adhere to these that built the trust of
clients (Hoyt and Shea, 2015). It has developed unique position in the market by creating
differentiated, multi brand business model that focuses on giving maximum returns to customers
with low cost and risk. The purpose of Lloyds Banking Group PLC is to contribute in the
prosperity of the Britain by becoming the best bank for shareholders and customers (Mols,
2013). This purpose can be attained by building customers relationships and commitment to
service and conducts. The financial organization has core competencies in the leadership style
followed by them that helps the bank to serve their shareholders. Lloyds Banking Group PLC
have designed strategies that can respond to the changing environment with the dynamic human
resources.
TASK 3
Strategic decision for the future
When the management of Lloyds Banking Group PLC conducts SWOT analysis of the
organization, they come to know that the bank does not have international diversity. It makes the
banking concern specifically exposed to the domestic economy (Lasserre, 2012.). In accordance
with the given context, it is suggested to Lloyds Banking Group PLC that they can diversify its
operations internationally. It can expand its operations by merging with the banks of the
developing countries. Lloyds Banking Group PLC will enjoy the benefit as it gives big
opportunity to the Multi national bank to introduce its services to the customers (Torugsa,
O’Donohue and Hecker, 2012). UK is a developed country and has progress in the technological
sector so banks are updated with these technologies that they can use in the area of their
expansion. In the developing countries, the interest rate is high as compared to developed state
(Morden, 2016). So it can provide loans to the people of developing countries like India at a low
rate that can help the Bank to gain competitive advantage in the banking industry. The banking
company has sufficient financial resources and skilled employees who can complement in
implementation of these strategies.
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The challenges faced by the management of bank are entry barrier from the countries and
understand their laws and regulations with regards to banking sector. These threats can be
reduced or overcome by merging with the existing banks of that country in which they can
expand (Singh and Malhotra, 2015.). They have to design the plan of action considering the
trainings to employees to adjust themselves in dynamic environment and introducing the culture
and working environment of the country. Banks need to evaluate the sources of finance who can
invest in their project. Bank will earn good revenue from this project as they can raise fund at
low rate of interest and lend these finances at higher rates as rate of interest of developing
countries are higher in comparison to developed countries (Laeven, Levine. and Michalopoulos,
2015). Lloyds Bank has to frame its strategies considering the taxation structure, laws and
regulation, economic reforms of that particular country for making informed decision. It needs to
comply with the foreign policies designed by government of UK.
It proves out to be SMART goal for the Lloyds Banking Group PLC as with the proper
planning, it can be achieved within the time defined. The developing country can grant licence
and permission to the Lloyds Banking Group PLC as it will provide jobs and employment
opportunities for the people of developing countries and helps in their economic growth and
development (Lewis, 2015). But Lloyds Banking Group PLC has to design its strategies
cautiously considering each and every aspect and then move forward. They first need to evaluate
and examine its own current resources, their strengths and weaknesses (Masini and Menichetti,
2013). It needs to make proper utilisation of its strengths and take actions to work on its
weaknesses as they can'tt take any chance of loopholes in their workings and operations.
Lloyds Banking Group PLC have the option to design its strategies to keep itself updated
with the latest technologies such as Biometrics, this technology will enable the customers to
access accounts online by recognizing voice and fingerprint authentication services. This will
secure the accounts of customers and clients. Its main aim is provide quicker, easier and secure
way to access their bank accounts (Martins, Oliveira and Popovič, 2014). Cyber attacks are day
by day growing in the UK so this technology have identified the solution for this problem as
these cyber crimes are prevailing due to the passwords inserted by the client and customers feel
more secure as they don't have to remember the password and reduces the risk of stealing,
guessing the password, brute forced by criminals (Jaumotte, Lall and Papageorgiou, 2013). It
will be advantageous for the Lloyds Banking Group PLC as is the largest planned out voice
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biometrics security technology in the UK that will help the Company to create competitive
advantage in the banking industry and will contribute to fulfil its goals and objective and thereby
becoming the best bank that provides quality services to the customer.
Management of Lloyds Banking Group PLC has to plan out strategies carefully
considering all the aspects of resources available to the Bank (Jaumotte, Lall and Papageorgiou,
2013). For instance, they need to make strategies to hire and appoint skilled employees who hold
expertise and keep himself updated with the latest technology and hire the person who will
introduce and make understand the biometrics technology to the customers (Casu, Ferrari and
Zhao, 2013). It will create competitive advantage for the Lloyds Banking Group PLC as many
financial institution have not used this technology in their operations and will make the bank to
become updated with the latest trends in the technology. They need to provide training to the
employees so that they can redress the grievances of customers with regards to usage of this
application.
Finance department needs to plan out the sources of funds to make investment in this
technological change and allocate the funds in the best possible manner that reduces the overall
cost (Philippon, 2015). Management needs to make the research part so accurately that it reduces
the future mistakes that result in loss of funds. They have to design this software considering the
vast range of customers of all ages.
CONCLUSION
It can be concluded that strategic management plays major role in the success of an
organization. Strategies are the integral part of decision making of top level management. Lloyds
Banking Group PLC is following low cost strategy and merger and acquisition and digital
marketing to attain its goal and objectives.Financial institution needs to conduct STEEPLE
analysis and porter's 5 forces to examine the current position and critically analysing the internal
and external environment of the bank. It is one of the most reputed and renowned bank of UK so
it does not have to face challenge related to threat of new entrants. In the present report, it has
been recommended that bank can expand its operations through technology development and
expanding its business by diversify its operations internationally. So it needs to allocate its
resource as per the plans and strategies designed.
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Masini, A. and Menichetti, E., 2013. Investment decisions in the renewable energy sector: An
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Online
Translating Vision into Strategy: The Case of Lloyds Banking Group. 2016. [Online]. Available
through: <http://www.cse-net.org/sites/all/themes/basic/images/Case
%20Study_Lloyds_FINAL.pdf>. [Accessed on 29th August 2016].
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