Strategic Management Plan for Starling Bank

Management
Plan

Table of Contents
INTRODUCTION...........................................................................................................................3
PROJECT ONE...............................................................................................................................3
P1: Applying appropriate frameworks analyse the impact and influence of the macro
environment on a given organisation and its strategies..........................................................3
P2: Analyse the internal environment and capabilities of a given organisation using
appropriate frameworks .........................................................................................................6
P3: Applying Porter’s Five Forces model evaluate the competitive forces of a given market
sector for an organisation.......................................................................................................7
Bargaining Power of Suppliers...............................................................................................8
Threat of New Entrants .........................................................................................................8
PROJECT TWO...............................................................................................................................9
P4: Applying a range of theories, concepts and models, interpret and devise strategic planning
for a given organisation..........................................................................................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Strategic management is used to manage the resources of an organisation by eliminating
the wastage in order to achieve the organisation goals effectively and efficiently. It helps the
organisation to make maximum usage of resources. In simple words, the management formulates
the strategies which outlines the organisation's resources by setting up the goals, evaluating
policies according to the changing environment and competitive market in order to achieve the
desired goals. The strategic management is the the medium to meet the objectives of the
organisation effectively (Parayitam and Papenhausen, 2018). Accordingly, the strategic
management plan are devised which helps in prioritizing tasks, using resources effectively and
ensuring that the stakeholder are contributing their best to achieve the organisational goals. Such
plan help to attain the mission and vision of the company. The report examines the analysis of
internal and external factors affecting the UK based bank named Starling Bank, by devising the
Strategic Management Plan.
PROJECT ONE
P1: Applying appropriate frameworks analyse the impact and influence of the macro
environment on a given organisation and its strategies
PESTLE ANALYSIS
PESTLE analysis is used to examine the external factors affecting the organisation in
driving its desired goals. The key factors which affect the organisation are Political, Economic,
Social, Technology, Legal and Ecological/Environmental. This analysis helps the organisation to
frame the strategic plan to cope with the changing environmental factors. Here environmental
analysis is conducted to identify the factors affecting the working of the Starling Bank. The
outcomes of the analysis helps to gain insight view of the company and allows them to make an
appropriate decision (West, 2018). Further, the Starling Bank is required to be updated with
these changing factors in order to attain growth and success. Thus, these forces determines the
strategies and actions of the company towards its desired goals. Thus, the PESTLE analysis of
the bank are as follows:- Political Factors: The bank was severely affected when England was no more a part of
European Union. As this Brexit effect caused a negative impact on the regulation of
banks.

 Economic Factors: The Brexit effect caused a slow down in the economy as the capital
of bank was adversely affected. Inflation caused during pandemic made stakeholders
think twice before providing funds ton the bank. Social Factors: During the pandemic situation, customer valued the digital space and
thus, the bank adopted the digital use of financial services accompanied by flexibility in
serving. This also caused a trust issue factor in consumers (MacKian and Simons, 2021). Technology Factors: For Hi tech customer Starling Bank offered its services on mobile
app with increased cyber security. Thus, focus on fulfilling the demographic needs of the
customers. Legal Factors: Banks are opened in accordance with the regulations in UK accompanied
by laws such as privacy law, cyber law etc. Some regulations are made with the changing
environment. The delay in change may affect the goodwill of the company in the market.
 Environmental Factors: In the pace of technology the usage of paper was reduced by the
bank in order to attain sustainability in the competitive market .
SWOT ANALYSIS
Strengths
Some of the strengths are:-
 The premium brand image created by
several awards and achievements
received by the bank.
 One of the strength is its pioneer
innovation in the tourism industry.
Thus, creates a monopoly in the market.
 The bank has hiked the market by
opening large number of current
accounts and achieved its goals of
monthly transactions effectively.
 The contribution towards infrastructure
development as it acquires large
amount of market place.
Weakness
Negative factors of the bank are:-
 The services provided by the banks are
limited.
 The main demerit of this bank is its
virtual presence, as consumers faces
difficulty because of its no physical
presence.
 Long term growth of the company can
get affect as the bank makes minimal
usage of its resources (Cerlyawati,
Anggoro and Zainuri, 2017).
Opportunities Threats