A Report on Lloyds Bank: Innovation, CSR, and Strategic Analysis

This report examines Lloyds Bank's operations, focusing on the impact of innovation and technology on its performance. It analyzes the bank's technological advancements, detailing how digitalization has improved operations, increased sales, and boosted profits. The report emphasizes the importance of Corporate Social Responsibility (CSR), highlighting how CSR activities enhance the bank's brand value, attract customers, and build stakeholder trust. It also discusses Archie Carroll's CSR model, explaining its structure and how it helps Lloyds Bank achieve its social responsibilities. The analysis covers how the bank's CSR initiatives, including sustainable energy investments and ethical practices, contribute to its market position and long-term success, as well as challenges faced and how these are addressed. The report also includes references from various sources.

COURSEWORK

TABLE OF CONTENT
INTRODUCTION.......................................................................................................................................3
TASK 1.......................................................................................................................................................3
Impact of innovation and technology.......................................................................................................3
TASK 2.......................................................................................................................................................5
Importance of Corporate Social Responsibility.......................................................................................5
Archie Carroll’s CSR Model...................................................................................................................7
CONCLUSION...........................................................................................................................................9
REFERENCES..........................................................................................................................................11

INTRODUCTION
It is very essential for businesses to understand the environment in which their company
is operating in so that improvement and planning can be done accordingly. The businesses are in
the market to earn profit and market share which is only possible when the customers are
satisfied. Lloyd banks have more than 45,856 employees working in the organization and their
headquarters is in London. The report is going to cover the impact of technology and innovation
in the organization and the importance of corporate social responsibilities. There is also going to
be a discussion on Archie Carroll’s CSR Model in the further report.
TASK 1
Impact of innovation and technology
There are a lot of improvements which have come in the market which is why it is very
essential for Lloyd banks also to get innovation and technological changes in the organization so
that there is a better functioning (Ehie, 2016). There are a lot of changes which are visible in
Lloyd banks over years in the market according to the customer’s needs and expectations from
the organization. Lloyds is proving the customers with the best of sources for funding which is
making a lot of clients get attracted to this organization.
 Operations
There is a change in the technological aspect in the market for the financial sector industry as
well which is why the company has got in a technological change in the company so that they
can get a competitive advantage which is a very essential factor for the organization. The sales
have increased in the organization because of the services which have been added because of the
technological changes in the organization which is a very essential factor. The information which
is required by the customers is being delivered to them on time and in a safer form which is why
the customers can have a better trust with the organization (Petrescu and Petrescu-Mag, 2016).
This is adding a lot of advantage to the organization which is good for the functioning of the
organization. The main focus of the organization is to increase the satisfaction level of the

customers which done by the digitalization in the company which is even being promoted by the
organization by the medium of campaigning. There are cost friendly innovations which are
taking place in Lloyd Banks which is making the company have a great advantage for a long and
successful run in the market.
 Sales
Due to digitalization in the organization the sales of sourcing of financial help is increasing
and there are more clients which are coming in the organization. The operations of the industry
has increased over years because of technological and innovations which have been done (Safar
and et.al., 2018). It is because of the performance of the bank in the market there is a huge
popularity which the organization has gained over years and the competitors can not compete
with the organization. Information technology is also being used in this bank so that the
information of the customers is safe and secured by the organization them. This is helping
Lloyds Bank take better decisions for them for a long run in the market which is a very essential
factor since the banks numbers are increasing in this industry. The demand of the customers is
security and safety which is being provided to them. The customers do not have to wait for
assistance in the organization and can directly find better solutions for themselves which is a
great factor for the organization. It is with the help of technology there is a lot of time
consumption and there are better decisions which are being taken in the organization which is a
very essential factor (Wang and et.al., 2016). The quality of the services and the products of
Lloyds bank are also improving with the help of innovations and technological aspect of the
organization which is a great factor for the organization.
 Profits
It is because of the technological changes in the company the net income profit of Lloyds
bank has increased to £4.3 bn in the year 2019 which is a lot more than the last year. There is a
use of latest technology and innovation by the employees in the company so that there is a better
growth in the organization. There are a lot of events which are being held by the bank which is
helping the company to aware the customers, the quality improvement which is taking place and
the services for the customers as well has to be communicated to the customers so that the
company can have higher profit margins. It is because of the technological changes in the

company there is an improvement in the quality of the services and products of the organization
which is being provided to them from time to time. There are a lot of challenges which an
organization has to face in the market which can impact on the profit margins but with the help
of using high standard technology in Lloyds bank it is being well balanced which is a great factor
(Saleem, 2017). The social needs are also being considered in the organization and being
fulfilled by the organization so that the organization can have a strong market for them and be in
the market for a long run with a competitive advantage.
 Growth
There has been a lot of improvement in meeting the demands of the customers with the help
of technology which is making the company have a competitive advantage as well. There is a
better communication which can be seen in the organization which is helping all the employees
to have a better direction for them to function in which is a bright future for the company to have
in the market. There are online services with the organization has started according to the change
in the customers trend and their demand so that they can have a better access to their accounts by
sitting at home (Crane, Matten and Spence, 2019). It is very essential for businesses to get in
technological changes in the organization so that there is a growth in the organizational
functioning and operations which is going to get in new ideas as well in the company. With the
use of technologies the wages of the employees can be saved because the functioning can be
done by the technologies which is a great advantage for Lloyds bank because they have been
paying the customers a lot of wages which made the profits of the organization reduce.
TASK 2
Importance of Corporate Social Responsibility
It is very essential for business conduct CSR activities which help to increase the
efficiency of the business indirectly. CSR is the business model which helps tom increase the
social communication of the business organisation in the market and increases the accountability
effectively. This also helps the company to improves its activities as the main focus of company
is to develop social or environmental issues. This helps to increase the potential of the business

to attract more customers and also satisfy stakeholders effectively (Watts, Dainty and Fernie,
2016). As there are many issues which are determined by Lloyd Bank which helps to develop
effective social responsibility to help the community in different ways and increase their
standard of living effectively. Lloyd Bank is also providing additional employment opportunities
for the poor class to increase their family income and increase their livelihood effectively. as the
bank is very large in network and is located in different market. The main aim of corporate social
responsibility is to return back all the resources in other form which were taken from the society
and nature. As global warming is one of the biggest environment concern and is impacting the
environment and causing many challenges in the heath in society (Grayson and Hodges, 2017).
Corporate social responsibility also helps to increase the ethical value of the organisation
to develop effective work culture to achieve objective effectively. With the help of CSR Lloyd
bank also reduces the employee turnover and increases the talent input in the company to gain
better results. Company also has many stakeholders and with the help of CSR it also increases
the trust between all the stakeholders of the bank to increase the size in the market effectively
(Masoud, 2017). As banking industry has grown very vastly due to increase in globalisation
which also increased their competition in the financial products for personal and other business
use in the market. Economy grows with the increase in the competition\ in the nation. Lloyd
bank also provided effective information to all its customers about their financial products to
create trust and make them loyal to the company effectively. Much survey provides information
that customers are more attracted to the banks which operates legally and ethically and also has
positive image in the society (Ruël and Wolters, 2016). Businesses need to take loans to grow
their business and improve their efficiency and this all can be done with the help of CSR
activities. CSR activities help to increase the brand value of the bank and also provide effective
opportunity to reduce the cost of operation by increasing the customer base. Increase in the
demand of the financial products in the market it also helps the bank to invest in innovative
technology to retain existing customers and attract new customers from the market. This reduces
the completion and helps to attain core competency effectively (Davidson, 2017).
Lloyd bank has invested in many sustainable energy plants to increase the potential of the
society to gather better energy. Company also focuses on using sustainable resources to protect
environment and welfare of society effectively. CSR activities help to increase the perceived

value of the company to attract potential candidates in the bank and increase the performance of
the organisation to achieve objectives and increase profit margins effectively. Lloyd bank uses
effective digital media and internet and print media to communicate different activities which
has be conducted by the company to increase the efficiency of the company (Calabrese and et.al.,
2018). This also helps Lloyd bank to increase the interest rates by gaining more funding. Bank
has also reduces the interest rates for the poor customers this increased the ethics and morale in
the market and helps the bank to target poor customer segment to gain more profit margins. CSR
is very essential for the financial institutions as it has very high turnover and very large network
of employees. Lloyd bank provides effective employees benefits both financially and non
monetary to increase their job satisfaction and motivate them to increase their performance
effectively. There are many factors which also help Lloyd ban to increase the quality of the
services and with the support of marketing team bank is able to educate all the customers about
the digital services to increase the number of transactions effectively (Alotaibi and Liu, 2017).
This also helps to reduce the competition and develop effective quality of services to increase
satisfaction of customers. It is very essential for Bank to adopt CSR as it helps to increase
improve the opportunity to expand in new market with low risk of failure as high brand images
increases the chances of success in the market and also attract more customers rapidly.
Archie Carroll’s CSR Model
It is structured system which assesses the resources and activities which are present in the
organisation to attain social responsibilities effectively. The main aim of this model is to focus
on the profit maximisation which also improves the size of the company effectively. Lloyd Bank
PLC also has to determine this model to ensure the higher profit margins and also achieve social
responsibilities (Shukla and Pattnaik, 2019). This model is developed in a pyramid which also
focuses on the legal laws and regulations of the market. It also helps to increase the ethical duties
to attain social welfare effectively. it is also very essential for the Lloyd bank to increase the
quality of products and services according to all the responsibilities in the model. This also helps
the bank to increase the efficiency to compete in the market and attain maximum profit margins
effectively.

Economic Responsibility
It is the first and very base responsibility of any business to too increase the profit
margins of the business to achieve their objectives effectively. This also helped the organisation
to develop effective understanding about all the resources to develop effective strategies and
increase the sales of the company. Lloyd bank provides effective financial products to SME and
for individual as well. To increase the profit margin the main focus of the company is to increase
the volume of customers by providing low interest rates which help to increase the sales
effectively. Bank has designed many products to attract every customer segments to increase
sales and profit margins effectively (Schrempf-Stirling, Palazzo and Phillips, 2016). This will
provide effective opportunity for the company to gather more potential resources to grow
company in the market and attain core competency effectively. Company has invested in the
technology and digital platform for transaction this also increases the satisfaction of customers
and increase profit margins to attain core competency effectively.

Legal Responsibility
It is also very important foe company to identify all the rules and regulation of the
government to become legal. This also helps the Lloyd bank has to develop effective policies in
accordance with the laws (Carroll, 2016). Company follows all employee benefit regulations and
safety of all employees to be in the legal boundaries and fulfil the legal responsibility to attract
more customers and gain more trust i the market effectively.
Ethical Responsibility
Ethical responsibility includes organisation values and cultures which is accumulation of
all the attitudes, behaviour, moral value of employees. Lloyd bank develops effective vision
which increases the ethical value of the organisation. Company has also developed healthy
working environment to reduce disputes in the company and increase the performance to achieve
objectives effectively.
Philanthropic Responsibility
The last responsibility which needs to be attained after all the three responsibilities are
achieved. Lloyd bank provides unsecured loans for the environmentalist’s who tries to protect
the environment (Kasemsap, 2018). Company also provides low interest rates loans to poor
customers for their personal use. This responsibility helps to increase the goodwill in the market
and also helps to increase the customer base in the market to compete effectively.
CONCLUSION
From the above report it can be concluded that there is a need for the businesses in the
market to get changes in the company so that they can get a competitive advantage. It is very
essential for organizations to get a competitive advantage which is going to make the
organization to have a better functioning. The competition in the market is increasing and the
company might lose their market shares as well which needs to be well maintained so that the
company can have a better functioning for themselves. Businesses will have to plan and analyse

the market so that the changes can be got in effectively which is going to make the operations
and productivity increase.

REFERENCES
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