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Strategic Management Report on Askari Bank

Strategic Management Report on Askari Bank

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Published by Syed Aun Ali Zaidi

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Published by: Syed Aun Ali Zaidi on Apr 22, 2011
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05/23/2014

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 Strategic Management report on Askari Bank 
Submitted to:-Mr. Chaudhry Fazl-e-MuqeemSubmitted by:-Mohammad Hammad FarooqMohammad Nauman KhalidQasim Ali
 
T
able of Contents
ACKNOWLEDGEMENT .............................................................................................................................. 5STRATEGIC MANAGEMENT  AN OVERVIEW ........................................................................................... 6IMPORTANCE OF STRATEGIC MANAGEMENT ....................................................................................... 6INTRODUCTION TO THE ORGANIZATION .................................................................................................. 7Mission Statements ................................................................................................................................. 7Strategic process in Askari Bank ............................................................................................................... 7Strategic Goals ..................................................................................................................................... 7Strategic planning ................................................................................................................................ 8Evaluation ............................................................................................................................................ 8Review ................................................................................................................................................. 8Report ................................................................................................................................................. 8Management Committee ..................................................................................................................... 8Executive Committee ........................................................................................................................... 8Final Report ......................................................................................................................................... 8STRATEGIC MANAGEMENT EXPLAINED .................................................................................................... 9STRATEGIC POSITIONING OF BANK INTERNALLY ................................................................................. 11HUMAN RESOURCE ............................................................................................................................ 12THE BOARDS MANDATE ..................................................................................................................... 12Training and Development of Occupational groups ............................................................................ 12Recruitment and Selection ................................................................................................................. 13On-line Job Application System ...................................................................................................... 13Recruitment Procedure .................................................................................................................. 13Recruitment and selection of Management Trainees ..................................................................... 14LEADERSHIP ....................................................................................................................................... 16TEAMS & NETWORKING ..................................................................................................................... 17STRATEGIC POSITIONING OF THE BANK EXTERNALLY ......................................................................... 19PEST ANALYSIS ............................................................................................................................... 19PORTER FORCES MODEL .................................................................................................................... 21THREAT OF NEW ENTRANTS ........................................................................................................... 22COMPETITION ................................................................................................................................ 22SUBSTITUTES ................................................................................................................................. 22
 
IFAS MODEL ....................................................................................................................................... 23Analysis and evaluation .................................................................................................................. 23SWOT ANALYSIS ................................................................................................................................. 23Strengths ....................................................................................................................................... 23Weaknesses ................................................................................................................................... 24Opportunities................................................................................................................................. 24Threats .......................................................................................................................................... 25STRATEGIC POSITIONING OF BANK BY OFEERING INNOVATIVE PRODUCTS ............................................ 26E-banking ........................................................................................................................................... 26Mobile ATM Bus ................................................................................................................................ 26Overall Analysis and Evaluation .......................................................................................................... 26Five Facets of Strategic Management..................................................................................................... 27GOAL SETTING ................................................................................................................................... 28ANALYSIS ........................................................................................................................................... 28STRATEGY FORMULATION ................................................................................................................. 28STRATEGY IMPLEMENTATION ............................................................................................................ 28STRATEGY MONITORING .................................................................................................................... 28The Strategic Management Process (benchmark) .................................................................................. 29Step One: Agreement on the process
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................................................................................................ 30Step Two: Identification and clarification of the organizations ........................................................... 30mission, objectives and current strategies.......................................................................................... 30Step Three: Identification of the organizations internal strengths ..................................................... 30and weaknesses. ................................................................................................................................ 30Step Four: Assessment of threats and opportunities in the external ................................................... 31environment. ..................................................................................................................................... 31Step Five: Identification of key constituents and stakeholders,........................................................... 32their expectations and resources. ...................................................................................................... 32Step Six: Identification of key strategic issues. .................................................................................... 32Step Seven: Design, analysis, and selection of strategy alternatives ................................................... 32and options to manage issues identified in Step 6. ............................................................................. 32Step Eight: Implementation of the strategy. ....................................................................................... 33Step Nine: Monitoring and review of performance............................................................................. 33

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