STRATEGIC MANAGEMENT OF A BANK

Strategic Management of a Bank

Strategic Management of a Bank

Introduction

There are three major trends that shape change. Specifically, the three trends are (a) the heightened competition brought about by globalisation, (b) information technology, and (c) managerial innovation. Globalisation is changing the economy and markets in which organisations operate. And there has been an increase in the e-business sector that is changing how work is distributed and performed with the use of information and communication technology (ICT (1) (Information and Communications Technology)

A significant example of how the reshaping of managerial values, work practices and business notions onset with less domestic restrictions and trade barriers to embrace international competition is afforded by the accession of UK as a member of the World Trade Organisation in the 1990s. The exposure to the competitive edge of foreign organisations compelled Malaysian domestic organisations to evolve a new corporate strategy in response to changes in the cross national managerial work related values (Baron & Besanko 2001).

Many articles and books have been written about how change management can be approached. Nevertheless, the field of organisational change is far from mature in understanding the dynamics and effects of time, process, discontinuity

A surface at which seismic wave velocities change. , and context (Pettigrew, et al. 2001). Moreover, little is written about implementation process and issues in highly regulated contexts such as the banking context (Nightingale nightingale, common name for a migratory Old World bird of the family Turdidae (thrush family), celebrated for its vocal powers. The common nightingale of England and Western Europe, Luscinia megarhynchos, is about 6 1-2 in. (16. & Poll 2000, Baron & Besanko 2001). Technical change in service industries is an underrepresented un·der·rep·re·sent·ed

Insufficiently or inadequately represented: the underrepresented minority groups, ignored by the government. area, despite its importance in employment and innovation (Nightingale & Poll 2000). Further, empirical studies Empirical studies in social sciences are when the research ends are based on evidence and not just theory. This is done to comply with the scientific method that asserts the objective discovery of knowledge based on verifiable facts of evidence. seeking to link change to organisational performance are rare (Pettigrew, et al. 2001). Partly, the rarity is due to the difficulty in producing convincing evidence. This study contributes to change management by reinforcing existing literature that stress the significant human factor in change management.

This study set out to study and analyse the change management and implementation process of a bank in UK using the qualitative method. The paper focuses on driving forces that prompted Bank A to change its corporate strategy, which in the late 1990s underwent major changes in its business approach. The Bank A corporate strategy shifted to a customer focused strategy with the transition to a more efficient technological system and business arrangements that underpinned a regime of competitive products and services.

A primary aim of this study was to contribute to an understanding of organisational change and the effect of human factors on a change management programme in ...