Group Members
1) Hossain Al Imran 113 0395 630
2) Reaz Rahman 3) Muntasir Mahmud Kibria 4) M. Wasif Rahman -
113 0184 630
112 0189 030 112 0909 530
History
Standard Chartered Bank (SCB) is a British multinational
banking and financial services company , headquartered in London, United Kingdom. The Standard Chartered Bank was formed in 1969 through a merger of two banks, The Standard Bank and The Chartered Bank. It operates a network of over 1,700 branches across more than 70 countries and employees around 87,000 people. Standard Chartered Bank has been operating in Bangladesh for over a hundred years. After the partition of the subcontinent in 1947, Bangladesh became East Pakistan, thereafter SCB started its business in 1948, in the port city of Chittagong.
Vision
Standard Chartered Bank has a key role to play in stimulating economic and social development through the services they provide and by being a force for good.
To be the world's best international bank.
Mission
Committed to provide the best.
To deliver a quality service that makes every transaction a pleasurable experience.
Customer is always right and in the core of everything.
What We Stand For
SCBs success is built on teamwork, partnership and
the diversity of our people. To be the right partner for its stakeholders. To build a sustainable business over the long term that is trusted worldwide.
Decision Making Process
SCB in Bangladesh follows a hierarchical pattern of
command. The Regional General Managers report to the Chief Executive Officer (CEO), The entire department heads at the headquarters report to the CEO. Manager or senior manager, reports directly to the head of the respective division in Dhaka. The respective branch managers are responsible for the performance of their unit.
Organizational Hero
To be an organizational hero of Standard Chartered Bank, one should perform extraordinarily. If a manager manages 130% revenue from the limit in a fiscal year outstandingly, he or she usually selects as a organizational heroes. He or she should have also some other characteristics to be a hero. He or she should be courageous, risktaker, trustworthy, responsiveness, loyal, creative and challenging.
Formal Structure
Porters Five Forces Model
The threat of substitute of Services.
High
The Bargaining Power of Supplier
The Intensity Of Competitive Rivalry
The Bargaining Power Of Customer
Low
High
High
The Threat to Entry of New Competitor
Low
SWOT Analysis
SWOT Analysis (Contd)
Strength:
Market Position is strong Maintain a position as a leading Cash Management provider One of the most profitable Multinational Corporation in
Bangladesh.
Weakness:
Weak customer relation management. Limited Number of ATM and Branches. Centralized Structure.
SWOT Analysis (Contd)
Opportunities:
Branch expansion for rapid growth. Working upon strategies for better returns.
Threats:
HSBC is pitching in quite aggressively Citibank is expanding in new markets Arab Bangladesh Bank has changed their strategy for
gaining more customers
Competitive Rivalry
Corporate Social Responsibility(CSR)
Promotion
Sponsors of Liverpool football club.
Credit Card discount. Limited Billboards. Limited TV Commercial. Co-sponsor of ASIA CUP 2012.
Offerings
Offering night banking, 24 hours ATM baking, 24 hour Phone
banking, internet banking, SMS banking, platinum credit cards having a maximum credit limit of BDT 1,000,000. Providing free gifts to customers who make more use of SCBs products and services. Offering shopping worth BDT 2,000 from Agora to customers who will be able to refer at least 5 new customers to Standard Chartered Bank.
Entrepreneurship
Standard and chartered bank has taken some steps to
help the women entrepreneurs by providing them loan which is only designed for them. Low interest rate.
Ethical Dilemmas:
Code of conduct ensures doing business in a lawful and
ethical way. In line with the banks five core values - responsive, trustworthy, creative, international and courageous. Group Code of Conduct is a practical working document which guides employees through the many difficult conduct issues which confront them on a daily basis. Employee will be judged not just by what is set out in the Code but on how this is reflected in their day to day activities and the behavior of all of clients.
Controls:
The board has an established framework to manage
risk and control their business and financial activities to deliver maximum profitability. Standard Charterers performance against forecast is reviewed regularly by their senior managers and the board, along with audits of assets, policies, legal compliance and the effectiveness of the internal control system. The support department controls the finance
Operational control
SCB helps its clients facilitate their cash flow through:
i)Ensuring easy access to cash; ii)Providing convenience for business transactions with award winning online banking platform (Straight to Bank), 24-hour phone banking services and branch access. Cash and trade solutions. Giving solutions to make business transactions in an easy and timely manner. Offering preferential pricing whenever clients do more transactions with us.
Employee Empowerment
It also encourages its staff to conform to an internal
culture of ethical behavior and sensitivities to the culture and religion of the country. There is a mandatory training on Company Code of Conduct for all staff
Technology
Internet Banking. ATM Card / Debit Card (Local & International). Credit Card (Local & International). Auto Bills Pay. SMS Banking Facility. E-Statement. Computerized reports. Communication with the rest of the world through
efficient network Technology Center.
Features of Internet-Banking
Easily Cheeked Account Balance.
Cheque Book Requests. Collected E-statement.
Debit card request.
Any type of inquiry. Purchase anything
Customers Convenience Banking Facilities
Evening Banking.
Speed Cheque Deposit. 24 hour ATM services.
24-hour Call Centre.
Internet Banking (Free).
Information Technology
This department is instrumental in the running of all the computerized operations of the bank. They help in the implementation and generation of computerized reports. Another duty of the department is to maintain communication with the rest of the world.
E-Banking
E-Banking provides their clients with a full range of
reporting capabilities, and a comprehensive range of transaction initiation options. Whether it is cash or trade related, the user-friendly e-Banking customer workstation provides a secure, reliable and effective link between clients and their accounts
OPSPAY
Standard chartered is proud to present opspay, a service for
their corporate customers which offers automated bulk transfer processing from their corporate accounts. This will result in reduced errors and an overall improvement in a persons salary payment processing. Opspay processes your staff salary payment by downloading your payment instruction in the form of a floppy diskette. The service ensures that appropriate narration is provided for all individual account credits in account statements. .
Conclusion
Standard Chartered Bank is one of the most prestigious banks in the world. The way they designed their working environment and managerial process attracts us very much. Doing job in Standard Chartered Bank is challenging always.
THANK YOU.
QUARIES
