VI.

STRATEGY IMPLEMENTATION

Long-term Objectives

The long-term objective of the strategy is to increase the company’s profitability through

retrenchment specifically using the turnaround strategy. Increasing its revenue through changing

portfolio by selling assets in the countries like Japan and some other parts of Europe where

interest rates are expected to remain lower due to poor performance. Diversify its investment in

United States like investing in unrelated industry to mitigate the company’s portfolio risk.

Citigroup should focus on its core activities particularly expanding its credit card business,

housing loan and consider investing in new emerging technology to cover all the possibilities of

emerging online banks. Also include the reduction of cost to improve company’s cash flow or

stabilize its finances to use in sustaining operations.

Annual Objectives

Invest a portion of company’s assets into unrelated industry particularly in utility

industry as this industry are not likely affected when financial industry are experiencing

financial distress. To possess and create a comprehensive vision and mission statement that

explain what Citigroup wants to achieve and what business they are focusing on to attain a

specific end point. Reduce operating expenses as to reducing employees and implement strict

control for purchasing administrative cost.

 Annual Objectives (Hierarchical in Nature)

Long-term Objectives:
Increase company’s profitability
through retrenchment.

Annual Objectives:
Increase segments
profitability this year.
(Current profits are $7.3
million)

Invest a portion of
Possess and create a Reduce operating
company’s assets
comprehensive vision expenses as to
into unrelated
and mission reducing employees
industry particularly
statement. and implement strict
in utility industry.
control on
administrative cost.
Policies

 Implement specific set of rules and regulation to minimize future cost and ensure that

inside and outside transactions were executed in accordance with the set rules.

 Ensure that all bank activities, including all the investment in domestic and international

markets meet the U.S. government requirements.

 Exercise employees’ rights in this business-driven environment by allowing them to give

feedback and reach out to their top management to mitigate any problems arising in the

internal control unit of the company.

 Implement ethical guidelines that emphasize and illustrate the critical nature of internal

controls to all levels of personnel. This is to be committed on conducting in an equitable

manner regardless of race, ethnicity, religion, age, or sexual preference.

Resource Allocation

Coordinate with the project and operational effectively by establishing a comprehensive program

management strategy. Evaluate project proposals on a monthly or quarterly basis to decide which

ones gets further development. Consolidate multiple similar efforts under one program leader;

this tends to enable the use of key resources more effectively and allow the management to make

critical deadlines. Train employees to have the required skills and job tasks get easily completed

on time to ensure timely delivery of products and services. Train less experienced workers to

complete job tasks if there is unexpected demand or attrition. Obtain specialized training from
authorized providers to ensure that the company runs a safe workplace that complies with local,

state and federal regulations.