BTEC Level 7 Diploma in Strategic Management & Leadership - Arts and Humanities Assignment Help

Assignment Task:

Task:

Abstract

In this report, Strategic Change Management will be discussed, an assessment of existing strategy at MCB will be performed whilst taking into consideration the constantly evolving environment in which MCB operates. The three axes of the vision of MCB Group were to reinforce its domestic position, diversify non-banking activities and enlarge its international footprint.

In view of the new challenges, MCB intends now to proceed with a significant review of its business model in the short to medium term through an intensive digitalization of services. The main objective is to transform MCB into the first digital local bank in the long run, through a phased approach.

Acknowledgements

I wish to express my deepest appreciation and gratitude to Dr. Jayraj Roodurmun and Dr. Priya Ramluggun-Essoo, Lecturers at Rushmore Business School for their dedication, patience and guidance as enablers for this assignment. A note of appreciation also goes to the Management of MCB Ltd for the sharing of information and trust in the application of confidentiality clause I maintained. Last but none the least, to all members of my family for their support during this journey.

Introduction
For many people, strategy can mean different things. Strategic management is about leading and moving forward with a long-term scope of action. Strategy may be considered as a “never- ending process” with core elements being costs, profitability and network with objective to create and capture net value for the firm. Seeking competitive advantage will be determinant to success or failure of firms, and ultimately for the benefit of its customers and the company itself. According to Michael Porter, “competitive strategy aims to establish a profitable and sustainable position against the forces that determine industry competition.” (Porter, 1985). “Strategic change management is the process whereby the strategy is managed in a structured manner to achieve organisational objectives and missions” (Janse, 2019).

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