Me and my project mate have selected Commercial Bank of Dubai (CBD) among other banks to study about the nature of strategic planning in this corporation because it’s one of the oldest local banks, one of the strongest banks in the private sectors in the UAE and its rich in history. CBD has strong trade finance and wide range of retail and corporate banking products and services.
First of all we have studied the strategic planning tools and reached that CBD has great extent of use for certain tools used in this organization such as:
* SWOT Analysis – CBD has not just the best but well-known strategic plan.
* PEST Analysis – CBD have transformed over the years to a modern banking institution capable with the following strength and characterized by the following great achievement (Strong Foundation, Strong Financial Structure, Sensible Polices, Strong Commitment to Quality Services, Strategic Plan for Nationals, Latest Technology, Important Contributions to ...view middle of the document...
And this corporation is one of the top 3 UAE banks for employee satisfaction.
* Financial analysis of own business - in 2010 CBD's Financial Strength rating is maintained at A- in view of its continuing strong profitability, solid capital sufficiency ratio and good asset quality.
Board of Directors and Top management have the full right to identify the decision making process and they are responsible for the environmental scanning and strategic planning. They are in charge in how these decisions are actualized to achieve the goals of the organization, they determines the source of power in an organization, and they give a proper balancing for the organization by ensuring the good coordination between different groups in this corporation. As they have external consultants to consult, ask and take the advices and make proper decision.
The level of the Competitive intensity for Commercial Bank of Dubai (CBD) is very high as this corporation was voted as a ‘Superbrand’ for 2010 by Superbrands Middle East and North Africa. And it was also been selected out of a total of 3,000 brands to an high-status award in the UAE. And that award reflects the strength of CBD’s brand, excellence in customer satisfaction by providing the high quality banking products and services that go beyond the requirements of its target clients.
CBD has a high level of the predictability of performance results, the aspiration of the corporation for the next year are to position the corporation between the top five most profitable banks, achieve at least 4% market share in selected target segments, and achieve high operational efficiency levels (within the top three banks in terms of cost to income).
The strategy of CBD is The Goal Is to have customer service that is not just the best, but legendary. By implementing the international Customer Services Standards, all employees including the managements within Commercial Bank of Dubai commit to abiding by all applicable and relevant parts of the standards. Commercial Bank of Dubai commits to adhering to the Statement of intent and policy Statements. According to this Strategy the Mission, Vision and Values of CBD is build it up.