Charateristics of Strategic management with examples

In October, 1998, Citicorp and Travelers Group completed their $70 billion nuclear fusion, joining these ii companies argoting, brokerage and insurance go to play the largest corporate merger in history. Citicorp, the second largest commercial pull in the unite States and the worlds leading distributor of credit card tied a knot with Travelers Group, a fiscal entangled that offered insurance and coronation banking services. The merger between the two created CitiGroup, a one-stop financial frequent that services e rattlingwhere 100 meg customers in over 100 countries. This merger marked the base of a strategic transformation within the financial services industry in US. All organic laws argon approach with the challenges of such strategic developments: few from the desire to grasp the refreshing opportunities such as the supra stated mergers, or differents to worst significant problems. The marges system and strategic management are very important for both o rganization and are different from other organizational challenges tasks and decisions. This condition deals with the issues that are strategic in an organization. The characteristics that are associated with the word strategy and strategic management can be understood employ the above example and other colligate examples. *Long term decision: Strategy is concerned with the pine term way of an organization. The Citicorp- Travelers merger set the confederacy on a runway of a one stop financial shop.

By combining the resources of Citicorp and Travelers Group, Citigroup as a single smashed provided a steer to increas e its customer base. The merger gave the com! pany an opportunity to cross-sell their bank/insurance services to its unsanded customer base acquired from the merger. another(prenominal) long term decisions taken by a bank can be regarding technology, expansion of geographical coverage, adding new slant channels etc. *Range enhancement: strategical decisions are ordinarily about trying to achieve rough advantage for the organization over competition. If you want to get a full essay, show it on our website: OrderCustomPaper.com

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