Strategy statement for bank Lloyds Essay Example | Topics and Well Written Essays - 500 words - 2

Strategy statement for bank Lloyds - Essay Example Customers and shareholders are key stakeholders to a business organization, since they do not only determine the direction that an organization takes in running its operations, but also the nature of the business and the core market that the organization serves. A business organization ventures into a given business and formulates the purpose and objectives for why it is in existence based on the customers and shareholder’s needs. The best interest of a customer is the responsiveness of a business to the customer needs (Wonglimpiyarat, 2005:27). The best interest of the shareholder is the increasing returns on the investment, as well as the sustainability of the increment of this returns over the long-run. Prioritizing the needs of the customers through making the Lloyds Bank simple for the customers to do business with is a positive step towards the bank realizing its prime objective. The combination of the interest of the customers and the shareholder under one vision is clearly the best way to success. It is the investors/shareholders who funds a business organization towards exploiting the available opportunities (Great Britain, 2009:87). On the other hand, it is the customers who helps a business organization to generate revenues that can cover for its operations and still create value for the shareholders of the business. In this respect, Lloyds Bank has applied the shareholders resources towards developing the relevant skills, people and resources necessary for responding effectively to the customer needs. On the other hand, the effective response to the customer needs has enabled Lloyds Bank to curve a satisfactory market share within the UK banking industry, and thus enabled the bank to remain well funded and even attain a leading position in the industry (Lloyds Bank Group, 2014:n.p.). Therefore, this customer-shareholder combination has worked in the be st interest of the Lloyds Bank. Towards 2017,