Strategy and Change management (Natwest Bank)

Strategy and change
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................7
References:.......................................................................................................................................8

INTRODUCTION
Strategy is the general action plan in order to attain desired long term goals and aims. In
the modern business environment, the organisations highly focus on the developing the strategy
that can increase the efficiency of the work within the workplace. In business, changes have
become the most consistent part due to which effective change management strategy is essential
for the organisation. The present report is the study of National Westminster Bank which is
commonly referred as NatWest Bank. It is a major retail and commercial bank headquartered in
London, United Kingdom. The Bank was developed in 1968 with the merger of two banks
National Provincial Bank and Westminster Bank. Later, in the year 2000 the Bank becomes
subsidiary of Bank of Scotland Group. The respective bank is one among the four big clearing
banks of the UK. This bank has a big network of approximately 960 branches all across the Great
Britain. In the current time and has more than 7.5 million customers and 850,000 small business
accounts (Natwest-group-annual-report-accounts-2020-v1.pdf, 2020). This also delivers their
customers a 24 hours Actionline telephone service and online banking service.
MAIN BODY
Strategy is a business tactic which focus on actions that can achieve or accomplish the
organisational goals and lead to overall success (What Is Strategy (and Why Should You Care)?,
2020). The strategy is the broad action oriented tactic that is developed and implemented for a
particular purpose and improve the performance of the organisation.
The NatWest Bank has purpose led strategy that aims to put sustainability at the roots and
heart of the bank's future. The benefit of this strategy to NatWest is it will focus on building a
sustainable bank and gain competitive edge among the other potential competitors.
William's model of strategy management is an effective framework to analyse the
strategy planning process of the NatWest Bank based on the decision making (Strategic
Management Model with Examples, 2021). The model was developed by the William F. Glueck
and comprises 5 stages. Strategic management elements are the stage that helps the NatWest
bank to identify the mission, vision, goals and values of the bank and also their key decision
makers. Because, these elements provide the clarity of thoughts and vision to employees and
employers regarding what they are required to perform. Analysis and Diagnosis is the stage
where the NatWest Bank will apply different frameworks and theories like Pestle and Swot
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