\"Assume you are working as GM of \" XYZ\" bank that has 300 branches scattered
ID: 460729 • Letter: #
Question
"Assume you are working as GM of " XYZ" bank that has 300 branches scattered in every corner in the globe. After studying the current performance, you and your strategic team's members have decided to achieve significant jump in bank's performance. You did agree to revisit every strategic component in your bank, as they represent the real ideology behind bank's performance. The current unsatisfactory competitive position is as follows: XYZ ranked number 300 in world bank list XYZ annual revenue is $750 Billion XYZ annual profit is $150 Billion XYZ market share is 7% of the banking market world wide The targeted strategic position is as follows: To be number 10 in world bank's list To achieve $2 Trillion as annual revenue To achieve $400 Billion as annual profit To achieve 20% as a market share. You asked for a meeting with all your regional executives across all markets. In that meeting you discussed the mechanism for achieving the new performance jump. All the executives agreed and approved the new success strategic recipe. Each and every executive has taken two copies of the strategic plans i.e. one for the master and comprehensive strategic plan and the second each or ortion in that strategic plan". Required with deep analysis: As a leader for that change, explain the three big strategic questions that should be ask and answered in this case. Do you think the GM did ask the right questions in perspective. From where they have to start the strategic change journey in that case. Explain sequential strategic ideology of any firm.Explanation / Answer
1.The GM of the XYZ Bank should ask below eqestions to the executives, who have come up from across the world do discuss the strategy to achieve Jump in the Company's Market Share, Revenue and Profits:-
i. What should be the time line for achieving the above mentioned targets?
ii. How can this be achieved?
iii. What all challanges the executive feels, that they will face to achive the above Targets and how they can over come those challanges?
2. The company should start and go as per the below plan
- Time line to achieve the final Goal as discussed by GM should be fixed and it shoule be sub-divided into small time frames.
- The bigger task of Revenue, Profit and Market Share should be divided region wise/ market wise into small time frames with clear objectives.
- For each region (few branches of the bank out of 500 total branches), some one should be made responsible.
- System to measure the region wise progress and identify progress, gap should be made.
- At certain frequency all the members should meet and discuss the challanges, out comes till now.
- Compititor's position and strategies should also been discuss to counter act at appropiate time.
Which this steps and action plan, XYZ bank will surely be able to achive its goals.
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