Global Corporate Strategy


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Introduction to Global Corporate Strategy

In the era of globalization, it is essential for businesses to obtain international expansion by adopting effectual strategy. However, if businesses are still focusing on local markets then it is significant for them to target outside the home market i.e. called global marketing. Moreover, international corporate strategy requires business to coordinate their product and pricing strategies across international markets and thus achieve customer satisfaction. Also, business is required to focus on competitors’ marketing and sales strategies with the aim to overcome them and target both domestic and international clients.

The purpose of the report is to develop knowledge and skills regarding understanding the key strategic issues in regard to the Global Financial Services Industry. Therefore, Lloyds Banking Group has been undertaken which is a leading financial service provider to both individual and business clients within the UK. The main business activities of the organization are retail and commercial banking, general insurance long-term savings etc.

Task 1

Firm's Competitiveness in the Global Financial Services Industry

Through reviewing the annual report of Lloyd Banking Group 2014 it can be assessed that the main aim of the business is to become the best bank for both individual and business customers. They are serving around 25 million customers in the UK. However, the business faces tough competition from other similar financial services-providing industries such as Citigroup and ICBC. It can be ascertained that as compared to such an industry business is heavily involved in providing retail and commercial finance and investments to individual and business customers. Adopting an effectual global corporate strategy assists Lloyd Banking Group in providing effectual financial services and satisfying the requirements of clients. Businesses such as Lloyds, Citigroup and ICBC face serious competitiveness.

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Globalization can be stated as the way through which businesses expand their operations within different countries together with the aim to not only set the national identity but also become part of the world as a whole. The advantages and disadvantages of globalization are as follows...


  • Countries like the UK, and Germany are rich and thus they can sell their products and services to poorer countries.
  • Globalization assists individuals in learning varied things and dealing with people across boundaries.
  • Due to globalization imported goods are available within the country and thus people can utilize them in order to enhance satisfaction.
  • It helps in creating and offering varied jobs to people so that they can improve their standard of living.
  • It provides opportunities for local industries to work hard and compete with international businesses.
  • It utilizes resources from varied countries for producing products and services so that they are able to carry out work efficiently.
  • Through globalization, clients get benefits as they get a wide variety of products from which they can choose the best.
  • Businesses get access to much broader markets.
  • Here, investors get much wider opportunities to invest in different businesses.


  • Globalization affects local businesses and brands as they can go bankrupt because large multinational corporations are providing their services and dominating the world economy.
  • It also affects the local traditions and culture of people.
  • Local industries are affected because people are moving towards international firms to buy products and services.
  • High interference of political parties and thus it raises conflicts among them.
  • Globalization affects underdeveloped countries.
  • It affects companies as they get much greater competition. Thus, it can put smaller industries at a disadvantage as they do not have the resources to compete at worldwide scale.

There are varied key opportunities and threats which is faced by Lloyds Banking Group which are as follows...


  • Lloyd's has varied former competitors such as Bradford & Bingley which makes it easier for financial service providers to win over UK businesses. However, it provides opportunities to enhance the profitability of Lloyd's.
  • The financial service provider has the opportunity to enhance their mobile banking usage so that they can provide satisfaction to customers. There are a wide number of British consumers who are using mobile phones to manage their financial accounts. However, increasing the usage of mobile banking will help the bank minimize its operational costs per branch and satisfy the needs of clients.
  • Lloyd Group is planning to focus on launching Islamic banking services in order to become strong. Further, business open Islamic Nostro Account and allows different banks to move money around the world and assist the business clients in keeping with Shariah law. However, it provides a great opportunity for banks to enhance their market penetration by providing Islamic banking services to Muslim clients.
  • Further, the UK Islamic banking market is divided between HSBC, the Islamic Bank of Britain and West Bromwich Building Society. Thus, it provides enough space for Lloyd's Bank to share the emerging growth opportunities in such segments of banking and provide financial services to its customers.
  • It has been assessed that The Bank of England is planning to extend the Quantitative Easing program. Further, it helps firms to decrease the interest rate and thus improve monetary growth in the economy. Moreover, the monetary base of the UK is likely to grow and thus it aids banks such as Lloyds to enhance mortgage loan production. With the assistance of this, it provides loans to varied UK customers and thus satisfies their needs.


  • The business faces varied challenges and threats of fines and costs if found guilty fixing of the exchange rate.
  • The main threat to the company involves regulatory requirements that affect the market share of the firm. The increase in divestments will affect the group's market share and its competitive positioning.
  • There are varied proposed regulations which are likely to affect the banking industry of the UK. However, there are different potential changes in UK financial standards and if these are implemented then, it may affect the banking business.

Bargaining power of Financial Service Providers

The bargaining power of financial service providers is high as they have less competition among those providing banking services in the UK. Thus, they have the power to charge high-interest rates from consumers and also adjust the quality of products or services and delivery timelines. However, if the financial service provider has such a type of bargaining power, they can affect the competitive environment and thus directly influence the profitability of the business. Lloyd's provides effectual financial services to both individual and business clients so that, they can demand for high-interest rates. Also, the clients are ready to pay high interest on mortgages because the firm owns goodwill in the market and they have minimum competition who is serving a large base of customers in the UK. There are various factors which affect the bargaining power of financial service providers such as changes in policies by the Bank of England. Also, fluctuation in interest rates affects the bargaining power of banks.

Change in needs and expectations of customers in the global financial services industry

In today's era, customers require modification in the services and products of banks. Thus, there are varied financial service providers who are focusing on enhancing their services to satisfy the needs of clients. Banks are required to redesign their processes as per the expectations of customers so that, more customers can be attracted. Nowadays varied customers prefer to use mobile applications to carry out or manage their finances so it is crucial for businesses to set its Internet banking facilities to enhance their banking services worldwide. Following are the five needs and requirements of customers which they require from global financial services providers. These are as follows...

Channel Expansion:- It is crucial for the firm to develop the right product mix and thus provide self-service channels to clients which provides them with a rich and consistent banking experience.

Service Availability:- Provide effective technology that helps in making banking easy and thus attracts a large customer base.

Client Usability: The bank should build a reliable, competent and responsive model to satisfy the needs of customers. Also, business analyzes feedback from their account holders so that, they can improve the same.

Data Privacy and Security: The financial service provider is required to protect and safeguard the identity of clients and also ensure that, any internal or external person should not misuse the client's personal information.

Easy banking:- Banks are required to make their banking services easy and simple so that, clients have a better banking experience (Hopkins, 2004).

Task 2

e-Banking- The Role of Alliances, Mergers and Acquisitions

Strategic alliance can be stated as the contract among two or more parties to pursue a set of agreed objectives which is needed at the time of remaining independent business firms. As per the strategic alliance, two businesses mutually agree to share their resources to achieve common objectives. Financial service providers start strategic alliances to expand their business in the global marketplace. Mergers and acquisitions can be defined as the term used for the consolidation of businesses. The merger can be stated as the combination of two different companies to form a new enterprise. Moreover, the acquisition is the purchase of one company by another and forming a new company. It is generally done by firms when they find themselves less profitable or competition in the market is high.

Furthermore, it can be assessed that strategic alliance, mergers and acquisitions assists Lloyds Banking Group in order to develop its digital capabilities in the area of insurance, customer finance, and retail and commercial banking markets. Thus, financial service provider undertakes consolidation methods such as mergers and acquisitions and acquire another banking firm which is facing challenges in overcoming their debts. It helps Lloyds to expand its market share and thus provide varied products and services in the area of insurance and customer finance for education loans, holiday loans etc. Further, businesses can also merge with similar financial service providers and thus carry out their operations on a large scale and attract varied customers. Thus, through merging with other banking firms, Lloyds can provide varied diversified services to clients. Also, they can determine the needs and expectations of customers and provide them with mobile banking usage facility so that, customer satisfaction can be attained.

All these consolidated methods help Lloyd’s banks to execute Internet banking in their system thus attracting customers to utilize online banking. Through determining the needs and expectations of customers, the business plans strategic alliances with other financial service providers and delivers mobile banking facilities to gain customer satisfaction. Merger and acquisition helps Lloyds Banking Group to expand its operations in different markets such as providing customer finance, retail and commercial banking with the aim to satisfy customer needs. Thus, undertaking such consolidated methods might assist banks in encouraging their digital abilities and providing customized services to clients as per their requirements. Through Mergers and acquisitions, it helps in maximizing the value of financial capabilities. Such consolidated methods assist in benefiting the banking group to enhance productivity and improve client satisfaction. It also aids banks in minimizing the costs and risks by distributing them across the members of the alliance. However, sometimes banks form strategic alliances in order to gain political advantage. With the assistance of this, banks can ally with local foreign businesses in order to gain entry into the international market and overcome local barriers. Thus, it helps in expanding the operations in the worldwide market and enhances the performance of the firm.

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It can be assessed that in my opinion, the business model undertaken by Lloyds is the best fit for the aim of providing real differentiation and positioning in the fast-changing era of globalization. The purpose of business is to provide customer satisfaction and fair returns to their shareholders. Thus, in such a fast-changing internet and mobile banking market, business evaluates the needs and requirements of clients and put their demands on first priority so that they can create goodwill and make a difference together. Lloyds possess the best business model i.e. they are a leading financial service group which provides low-cost, minimum risk and client-focused UK retail and commercial banking business models. It operates to provide banking services to both individual and business clients. Furthermore, the business also creates value for our clients by developing strengths and developing a distinct image of the firm in the market. It also provides superior customer insight and thus focuses on maintaining relationships.

Thus, it can be assessed that Lloyd's business model is the most suitable and provides differentiation and positioning of the brand in the fast-changing internet and mobile banking market. Also, firms should determine the needs of customers and develop mobile usage because in Britain there are various customers who are using mobile banking to manage their finances. Thus, the Financial Banking Group is required to focus on maintaining relationships with customers and satisfy their needs and wants to build trust among them. In the current era of globalization, it is crucial for business to undertake online banking methods because if they do not adopt this then customers have varied choices available in the form of competitors. Hence, business is required to improve their services and products by adopting innovative technology in the form of online banking so that, they can attract a large number of clients. However, the UK financial services market remains one of the largest in the world and thus Lloyd’s business model is required to be formulated as per the UK economy. Thus, it provides real differentiation and positioning for future regulatory reform and attains desired objectives.

Task 3

Corporate Governance, CSR, Leadership, And Competitiveness

Corporate governance can be defined as the processes and mechanisms through which businesses are controlled and directed. Here, the board members and managers of the firm have the rights and responsibilities that involve rules and procedures in order to make decisions in corporate affairs. Further, business is also required to undertake corporate social responsibility (CSR) in order to develop regulations and take initiative to protect the social environment. Also, the company is required to carry out various CSR activities with the aim of integrating regulation into a business model. Moreover, there are various relevant management and leadership concepts available with firms which helps them to focus on customer satisfaction. It also rebuilds their colleague’s pride in working in their group by undertaking the best CSR and corporate governance practices. Further, Lloyd undertakes such a business model which puts customers at their heart and provides them with quality products and services in order to develop a long-term view through making the most emerging digital channels.

The main strategy developed by Financial Banking Group is that they provide low-cost, minimum risk and customer-focused UK retail and commercial banking business model. Thus, keeping in mind such objectives business focuses on client needs and expectations in order to deliver them the best quality products and services. Further, in the coming year, businesses are required to bring varied changes in their technology, and customer behaviour and improve regulatory requirements.

Developing the Best Customer Experience:- Clients are the heart of the business and thus the bank is focusing on building customer experience by providing them with multi-brand products and services. Further, business is required to develop its digital presence by providing Internet banking facilities to clients and delivering high-quality services.

Becoming Simplified and Easy:- Business creates the operational capability to enhance and integrate as per the change in customer needs and requirements through becoming cost leaders among UK financial services providers. However, by such cost leadership, it enables the business to provide increased value to our clients and competitive differentiation.

Delivering Sustainable Development:- The UK economy provides growth opportunities to businesses in order to become market leaders in providing varied products and services to consumers.

Colleagues:- Lloyd Bank is trying to focus on their employees and provide them with proper training so that they can focus on customer requirements in becoming the best financial service provider.

Helping Britain Prospers:- It states that businesses are regularly focusing on satisfying the needs of UK clients by providing them with the best financial products and services.

Through, the above objectives can be assessed that; it helps Lloyds in developing its ability in order to satisfy the needs and requirements of clients. Thus, the financial banking group undertakes effectual corporate governance schemes, CSR and varied leadership and competitiveness theories to give tough competition to rivals. All these strategies assist businesses in targeting clients and developing long-term relationships with them by providing them with quality financial products and services. Hence, the ability of the Lloyds Chairman and senior management team to target customers and satisfy their requirements. All the senior management and employees of the organization are focusing on making Lloyd the best bank for all its stakeholders. Thus, such an objective can be attained by the firm through developing strategic objectives and providing low cost, minimum risk and improving customer behaviour within the firm.

As per the corporate governance report of 2014, the Chairman states that they are focusing on developing the best financial services in order to develop trust among clients as well as proving to be the best bank for shareholders. The firm has taken varied crucial decisions in order to become the best bank for customers. Hence, the corporate governance framework enables strategic, accountable and responsible decisions developed by colleagues. Also, the team of banks supports colleagues in order to fulfil the business objectives of CSR and corporate governance. Lloyd's Chairman and senior management help businesses to put forward to satisfy customers and shareholders. With the assistance of such a business model, it puts clients at the heart which is based on traditional attributes such as prudence and long-term view in order to develop emerging digital channels. Also, businesses are focusing towards developing the Internet and mobile banking market as it is the need of young customers. They carry out most of their financial activities by using mobile phones. Thus, business is required to redesign its system and use innovative technology to attract clients.

Task 4

Personal Reflections on Learning and Overall Report Presentation

With the help of this assignment, helps me to analyse the significance of Global Financial Services provided by Lloyd Bank to its clients. Through carrying out the report, I understand that the objective of the bank is to satisfy the needs of clients and shareholders. Also, businesses are trying to improve their mobile usage services by adopting innovative technology such as the Internet and mobile banking so that, customers can be attracted towards the firm. The UK banking sector is vast and thus Lloyd gains more than 25 million customers and delivers them the best financial services. It involves both individual and business clients and the firm provides different financial instruments so that banks can satisfy Britain’s households, businesses and communities.

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Furthermore, Lloyd Banking Group is focusing on the UK-centric approach strategy in which they focus only on the needs and requirements of clients and fulfil it in order to achieve goals. Also, the business strengthens its colleagues with the aim of focusing on building effectual strategies and satisfying the needs of shareholders by providing them with fair returns. Moreover, the business targets UK customers only but they are required to expand its operations by merger and acquisition and focus on the worldwide market in order to enhance its customer base. As per my viewpoint, it can be stated that Lloyd's senior officials like Lord Blackwell are continuously thinking about the expansion of business in the global market but they are lacking somewhere which is proving them to focus currently on the local market. Business lacks in providing mobile banking usage services thus they need to be innovative and adopt such services to attract clients and satisfy their needs.


From the accomplished report, it can be articulated that Lloyd Banking Group provides financial services to UK customers. Moreover, the firm is planning to expand its operations in the global marketplace. Therefore, it needs to undertake effective approaches such as strategic alliance, merger and acquisition with the aim of developing an Internet banking system. Also, a financial banking group is required to determine the needs and expectations of customers in the global financial service industry and then provide them with suitable quality products and services to attain customer satisfaction. Furthermore, business undertakes CSR, corporate governance and leadership competitiveness to build effective digital channels. However, it assists clients in developing long-term views and provides the best services to attain satisfaction among them. In the end, it can be stated that Lloyd's senior management and colleagues are trying to develop a global corporate strategy and are expanding its operations globally.


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