Charateristics of Strategic management with examples

In October, 1998, Citicorp and Travelers Group completed their $70 billion atomic fusion, joining these ii companies argoting, brokerage and insurance service to create the largest corporate merger in history. Citicorp, the second largest commercial load in the unite States and the worlds leading distributor of credit cards tied a knot with Travelers Group, a fiscal heterogeneous that offered insurance and coronation banking services. The merger between the two created CitiGroup, a one-stop financial frequent that services e verywhere 100 billion customers in over 100 countries. This merger marked the author of a strategic transformation within the financial services industry in US. All organic laws argon set about with the challenges of such strategic developments: few from the desire to grasp the red-hot opportunities such as the supra stated mergers, or another(prenominal)s to surpass significant problems. The marges system and strategic management are ver y 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 related to examples. *Long term decision: Strategy is concerned with the grand term way of an organization. The Citicorp- Travelers merger set the company on a runway of a one stop financial shop.

By combining the resources of Citicorp and Travelers Group, Citigroup as a single unben dable provided a steer to increase its cust! omer base. The merger gave the company an opportunity to cross-sell their bank/insurance services to its bran-new 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 near 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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