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 function to crap the largest corporate merger in history. Citicorp, the second largest commercial force in the unite States and the worlds leading distributor of credit cards tied a knot with Travelers Group, a monetary mixed that offered insurance and coronation banking services. The merger between the two created CitiGroup, a one-stop financial frequent that services e very(prenominal)where 100 one million million million customers in over 100 countries. This merger marked the set about of a strategic transformation within the financial services industry in US. All organic laws atomic number 18 set about with the challenges of such strategic developments: few from the desire to grasp the in the buff opportunities such as the supra stated mergers, or early(a)s to overtake significant problems. The marges sy stem and strategic management are very important for both organization 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 desire term way of an organization. The Citicorp- Travelers merger set the community on a runway of a one stop financial shop. By combining the resources of Citicorp and Travelers Group, Citigroup as a single unattackable provided a steer to increase its customer base. The merger gave the company an opportunity to cross-sell their bank/insurance services to its novel 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 sl ant channels etc. *Range enhancement: strat! egical decisions are ordinarily about trying to achieve several(prenominal) 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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