First Bank of Nigeria Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Introduction

In order to make any organization successful, it is important to have a strategic decision of the company aligned with its goals, mission and vision. Furthermore, to seek the strategic preferences of the top management with respect to all kinds of stakeholders in terms of social and political management aspects of the company, it is imperative to go through the real life situations of these aspects in the organizations you work or wishes to work.

To obtain a complete understanding of the social and political influences on the strategic decisions made by the top management of the bank, it is imperative to determine the key social and political management aspects for the bank. Social aspects deal with the situations that arise out of the relationship of the employees with each other. The relationship can be with the subordinates, colleagues and the superiors. It can be constructive, which will lead to positive enforcement of attitudes and believes towards things. This positive enforcement can be of the junior in case of relationship of junior and senior. It can sometimes be vice versa as you often see the situation when the seniors learn something from the juniors. If the relationship is between colleagues, then both get benefit from this motivation. Sometimes it can be destructive due to negative thoughts or any other aspect that will encourage negative behavior and in turn enforces de-motivation to interact with the others and it can be any one; juniors, colleagues and seniors.

A political management aspect of the organization from strategic point of view reflects the strategic approach to manage the political aspects of the organization. Politics can be internal as well as external. Internal politics is again related to relationship between employees and includes the degree of dependence of juniors oron seniors as well as between colleagues.

External politics have also various forms. It includes the degree of dependency of one firm on any stakeholder due to inter-company employee relationships or business holdings between two parties, etc. It also includes general political environment of the country, state or city.

First Bank of Nigeria

The first bank of Nigeria initiated the banking system in Nigeria. It was incorporated in 1894 and consists of more than 750 branches across the world, along with having international presence in the form of subsidiaries and representative offices. The bank has spread its network through seven subsidiaries and three representative offices internationally under the brand name of FBN. It is the largest financial institution in terms of assets and bottom line in Nigeria. It has 10 million customer’s accounts. It has won various awards based on its financial strength and performance over the years(First Bank of Nigeria, n.d).

FBN aspires to become the leading Sub Saharan financial group. Its structure, people and sustainability in the business give it the competitive advantage to aspire others. The bank always tries to extract the business synergies among the various groups of the business. It targets high growth markets generally and priority customers specifically. It realigns its business for profitable growth. These business strategies will reap benefits for the company.First Bank of Nigeria Case Solution

The optimum use of technology has raised the bar for the bank in terms of standards for the new product development process and in reality it reduces the time to reach market of the new products or services. It offers products and services similar to other big names in the global industry which are meant for customers in different phases of product life cycle and for throughout the entire value chains of customers(First Bank of Nigeria, n.d).

Social and Political Aspects of the Strategic Plan

Social and political aspects of the bank tend to affect the strategic plan due to the various reasons. Social aspects of the bank also affect positively as well as negatively. Social aspects reflect the type of relationship between the employees of all cadres. The relationship between the senior and the junior or between the colleagues tend to foster the culture in which there are synergies present which can multiplied the positive effects to the bank and hence the strategic plan because strategic plan is there for the bank. If there is no or less relationship between employees, then there is negative effect to the bank which can be harmful strategically(Margaret SosanAjayi, n.d)..........................................

This is just a sample partial case solution. Please place the order on the website to order your own originally done case solution.