Financial Services Strategic Development

Financial Services Strategic Development - A Long Term View

Financial Services Strategic Development - A Long Term View

Recent Past Development History

Planning is the first and for most step in identifying the life challenges. The organization planning is necessary for the organization to achieve the desired outcome. In most of the organizations business planning is necessary as to cater the work environment. We plan to do things better and with great initiative and programs. We do things for a change and for making environment better and workable. In the planning for an organization there are route maps as where we were, where we stands today and in future what will be our company position and this is the deal which we called today strategic planning (Schmidt, 2009, pp.1).

Strategic planning identifies long term directions regarding the company strategies and vision that need to be identified in the current scenario. The defined goals and objectives of an organization their past history depicted with the changes in the current strategies that takes place in an organization. The long term planning is much helpful in identifying the current status of an organization. Strategic planning is achieved to identify the desired status of an organization (A Strategy for the Financial Services).

In strategic planning the goals and objective of the organization are stated. It was identified that there are long term sustainable goals that needs to be considered at the time of building the brands for the market.

This flow chart that depicts the company rules regarding the strategic planning it states that in an organization there is strategic planning, after that there is a long term financial planning and besides this there is a budget planning (Financial Management Guide, pp.1).

History of Lloyds Bank

Since then it has been keeping pace with the ever-changing market environment by offering substantial business knowledge and products to ensure sustainable growth, enhanced efficiency, and risk management of customers. The bank has made intensive investments in order to become a leading through the cycle bank for UK businesses and to support the UK economy. Lloyds Bank is a three years old player of the financial services industry of the UK. The bank offers financial services and varied products in corporate financing, risk management, banking, capital markets and international trade. The graphical representation identifies the five year history of Lloyds Bank (London Stock Exchange).

Strategies implemented in the last ten Years from 1996-2006

In the 1996 strategic decision to merge the two major banking subsidiaries allowed the company to become the largest mortgage provider of the UK. Good corporate governance and significant mergers have allowed the company to establish a strong capital position in the past ten years. Corporate responsibility has been a crucial element of the strategic development at the organization. The company has made a substantial investment in minimizing the effect of global environmental issues (Lloyds TSB Group, 2007, pp.1).

In the past ten years, the business strategy has been centred on the growth in order to accomplish the vision of ...