Strategic Management Assignment PDF

   

Added on  2020-10-05

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STRATEGICMANAGEMENT
Strategic Management Assignment PDF_1
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1.........................................................................................................................................................1INTRODUCTION...........................................................................................................................2MAIN BODY...................................................................................................................................21 Identification of existing vision, objectives, mission and strategies of organisation...............22 Formulation of mission and vision statement for concerned bank..........................................33 SWOT matrix to analyse internal strength and weakness of the company..............................44 PESTLE analysis and development of environmental scanning key points............................55 BCG matrix and recommendation for long term objectives & specific strategies...................66 Implementation of recommendations.......................................................................................77 Issues faced by different departments of bank and recommendations to resolve themselves.88 Recommend the procedures for evaluation and strategy review.............................................9CONCLUSION................................................................................................................................9REFERENCES .............................................................................................................................10
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EXECUTIVE SUMMARYThis report is based on Dubai Islamic bank which was established on 1975 andheadquartered in Dubai. It is the only bank which have incorporated Islamic laws and principles.This bank is the largest financial institution in UAE. This report covers vision, objectives,mission and objectives of a company. It also covers external and internal analysis which impactsthe working and success of a company. Along with it, there are various issues faced by differentunit of a company recommendations are given to solve them. 1
Strategic Management Assignment PDF_3
INTRODUCTIONStrategic management is described as the continuous analysis, planning, assessment andmonitoring of all those aspects which are required by a company to achieve its organisationalaims and targets. Changing needs of customers, advanced technology and emerging trends forcesa firm to implement strategic decisions (Barney, 2012). Strategic management assists thecompany in acknowledging their present situation in a desirable manner. This present report iswritten in context of Dubai Islamic Bank which is an UAE based Islamic bank headquartered inDubai. This report covers mission, vision, strategies and objectives of the bank. This researchalso covers internal and external factors which impacts the working of bank in a considerableway. Also, BCG matrix is prepared to acknowledge long term objectives. At last, issues faced byvarious departments of company are discussed and recommendations are given to resolve thoseissues.MAIN BODY1 Identification of existing vision, objectives, mission and strategies of organisationDubai Islamic bank was established in 1975 and it is the largest bank in UAE by publicjoint stokes and assets. At present bank is successfully operating around 90 branches withinUAE. Major goal of this bank is to develop Islamic finance as a norm other than being analternative (Eden and Ackermann, 2013). Every organisation has some vision, mission andstrategies which helps them to achieve their organisational goals and objectives. In respect ofDIB, existing mission, vision, strategies and objectives are mentioned below: Vision: The vision of a firm help employees in acknowledging the values, purpose andgoals of a company. Existing vision of Dubai Islamic bank is “ To be one of the most progressiveand normed financial institution around the globe.”Mission: Mission of a company emphasize and focuses on the today's requirement andachievements. In context of DIB, current Mission of company is to “ sustain and improve theposition of bank as leading Islamic bank around globe by providing unsurpassed customerservices, improving employee engagement, growth and innovation. Strategies: To sustain a firm position within market and to gain competitive advantageover rival companies, it is vital for every organisation to formulate and implement effective2
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