Strategy and Change Management at Lloyds Bank: PESTEL Analysis and McKinsey Model

And Change
management- Lloyds
Bank

EXECUTIVE SUMMERY
Change management refers to the procedure and methods under which any organisation
narrate and apply the changes within the both internal as well as external processes. It also
include fixing and carrying the employees, setting up the necessary steps for change along with
observing the pre and post changes in the activities in order to making sure their successful
application. Organisational changes are always found as the challenging tasks. It frequently need
numerous stages of practice and may affect various independent operations within the business
organization. Developing an organized approach for change is condemnatory to help assure a
advantageous conversion while justifying the disturbance. COVID-19 effect the entire economy
of country. Its impact on the Lloyds bank has been analysed. PESTLE analsyses help the
organisation in klnowing about the several external factors which are effecting the operations of
business. McKinsey strategy change model is useful for developing the effective changing
strategies at work place.

Table of Contents
EXECUTIVE SUMMERY..............................................................................................................2
INTRODUCTION...........................................................................................................................4
COMPANY BACKGROUND........................................................................................................4
SECTION 1......................................................................................................................................4
Market Share...............................................................................................................................4
Fin Tech Use...............................................................................................................................5
Impact of COVID-19 .................................................................................................................5
Net Zero Target Sustainability....................................................................................................5
Strategy Planning process by the use of william's strategy management model........................6
SECTION 2......................................................................................................................................6
McKinsey Strategy Change Model.............................................................................................6
SECTION 3......................................................................................................................................7
PESTEL Analysis of Lloyds bank..............................................................................................7
Porter's generic strategies..........................................................................................................10
SECTION 4....................................................................................................................................10
Recommendations.....................................................................................................................10
CONCLUSION..............................................................................................................................11
References:.....................................................................................................................................12

INTRODUCTION
The change management is a process which permit the professional within organizations
to purchase and scale the change management actions which help wedged individuals and groups
decision by their change. In simple words, it can be explained as the process of planning,
implementing and solidifying the several changes in the organisation. Basically, it state how the
companies handle changes such as adopting any new technology, shifts in hierarchy of
organisation. Lloyds Bank is the selected organisation for this report which is a British bank.
This report covers the entire background of company, strategy planning process, process of
application of strategy change model. Along with this, it also deal with the PESTEL analysis and
porter's 5 forces analysis of Lloyds bank.
COMPANY BACKGROUND
Lloyds bank plc is a British retail and commercial bank having their branches all over the
England and Wales. It was founded by John Taylor (a button maker) and Sampson Lloyd (an
iron producer) in 1765 having headquarters in Gresham Street, London, United Kingdom. This
company is dealing with the banking and insurance products. The origin of this bank reach back
to 1765, when John Taylor and Sampson Llyod set up a private banking business in Birmingham
which was named as Taylors and Llyods. That bank was only providing services to the
manufacturers and merchants. The bank has provided services to their customers more than 100
years, from a single branch. The Taylor has dropped out from the business in 1852 and after that
it becomes the Lloyds & Company. It becomes a limited concern in 1852. by joining Barclays
bank, It was established in Lombard Street where it took over Barnetts, Hoares and Co. At the
very first time, they use the symbol of famous black horse.
SECTION 1
Market Share
From a recent research, it has been found that the market capitalization of Llyods banking
Group is $44.93 billion which make it as the 437th most valuable company as per its market
capital. Market capitalization is the sum total of market value of any company outstanding
shares and it is used for measuring the worth of a company. Lloyds bank is consider as one of the
largest financial services organisation of United Kingdom as they are serving more than 30