final_strategicmanagement_assignment

Student No. 1510862/1 Date: 18-Dec-2015

BOLTON BUSINESS SCHOOL

Course level: MBA

Module title: Strategic Management

Module code: MBA 7026

Level HE7

Credits 20

Assignment title: Strategic Analysis Project Report Date issued Date due in Extension date agreed? Actual submission date

4th Oct 2015 18th Dec 2015

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Student Number: 1510862/1

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Table of Contents

Introduction ..................................................................................................................................... 3

Main Body ...................................................................................................................................... 3

Strategy & Sustainable Competitive Advantage......................................................................... 3

Commercial Bank International (CBI): An Overview ................................................................ 5

Strategic Management Process ................................................................................................... 6

Strategic Analysis ....................................................................................................................... 6

A. SWOT Analysis: Brief summary .................................................................................. 8

B. Internal Analysis: OCP & SAP .................................................................................... 9

C. External Analysis: Micro Environment (Specific) ..................................................... 15

D. External Analysis: Macro Environment (General) ..................................................... 19

E. Corporate Portfolio Analysis: Boston Consulting Group (BCG) Matrix ................... 21

Strategic Choice: Stability Strategy .......................................................................................... 23


Introduction

Strategic Management can be defined as use of effective management techniques to

achieve business objectives. It plays a vital role in organizational performance as it

embeds business goals and objectives into the course and direction of the organization.

A successful strategic management process involves using various strategic tools for

complete assessment of the organization and making an appropriate strategic choice.

This report provides critical strategic analysis of Commercial Bank International (CBI)

using set of strategic models and concepts. Internal Analyses have been conducted

using Organizational Capability Profile (OCP) and Strategic Advantage Profile (SAP) to

identify strengths and weaknesses of CBI. External Analyses have been conducted by

applying Porter’s Five framework and PESTLE analysis for micro and macro

environment respectively. Using these analyses, CBI has been positioned in BCG

Matrix which is one of the corporate portfolio analysis techniques. Based on CBI’s

position, a suitable strategy has been recommended to address the strategic issues

faced by the organization.

Main Body

Strategy & Sustainable Competitive Advantage

The term strategy was most commonly used in the battlefield by military personnel to

outline war tactics and overcome the danger caused by enemies. Dobson et al. (2009)

suggested that modern world competitive markets are similar to battlefields of wars

where organizations develop strategies of deterrence, offence, defence and alliance to

gain competitive advantage. Johnson and Scholes (1999:10) explain strategy as “the

direction and scope of an organization over the long term: which achieves advantage for


the organization through its configuration of resources within a changing environment,

to meet the needs of markets and to fulfil stakeholder expectations”.

An effective strategy enables an organization to direct its various capabilities and

resources (tangible and intangible) towards a common goal. It sets course and direction

for the future of the firm to equip them with the ability to counter uncertain situations.

Bracker (1980) emphasized that accelerated rate of change in business environment

and new technology increased the need for analytical decision making to increase

managers’ ability to tackle uncertain future. Therefore, effective strategy is essential for

consistent success of the organization. The importance of strategy lies in its ability to

exploit an organization’s core competencies and strengths to make most of the

available opportunities and achieve sustainable competitive advantage.

Organizations are said to have competitive advantage when their current and potential

competitors are not implementing organization’s value adding strategy simultaneously

(Barney, 1991). The competitive advantage can be sustained if organization is able to

ensure that competitors are unable to duplicate the advantages of this strategy (Rumelt

cited in Barney, 1991). Sustainable Competitive Advantage is therefore achieved when

the organization has unique, valuable, rare and inimitable resources or attributes which

differentiates them from their competitors. These can be in the form of unique

processes, special skills, exclusive goods or services and even the distinctive way the

human resources are managed. For example Walt Disney’s sustainable competitive

advantage lies in its research and development methods where as Apple’s sustainable

competitive advantage lies in its unique brand and product design. Although sustainable

competitive advantage may give the organization greater profits, very few organizations


are able to achieve it successfully for long term. Advanced technology, increased

globalization and market dynamics have often been the reason for competitors to

imitate the design or process of the organizations with sustainable competitive

advantage. However, effective strategies can help organization to sustain their

advantage over competitors.

Commercial Bank International (CBI): An Overview

Established in 1991, Commercial Bank International (CBI) has been operating in UAE

with the vision of becoming the preferred bank for customers, shareholders and

employees. Passion, Accessibility, Commitment and Trust make up the core values of

the organization. CBI’s domain consists of banking products and facilities in the broader

forms of Cash Management, Treasury, Lending and Trade Finance. Working in the

region with tremendous business potential and international exposure, CBI faces

extensive competition from 23 local and 26 foreign banks operating in UAE. With recent

re-branding of the Bank after Qatar National Bank (QNB) took over 40% of the

shareholding, CBI seeks to capitalize on improving its image and position in the UAE

banking industry.


Strategic Management Process

The above diagram illustrates the strategic management process which starts from an

organization setting its mission and objectives and how it achieves competitive

advantage successfully. The aim of this report is to use this strategic management

process to effectively conduct in-depth analysis of CBI. This will help in identifying CBI’s

key strengths and weaknesses which can help build an effective strategy that could be

implemented to achieve sustainable competitive advantage.

Strategic Analysis

In literature, strategic analysis has been explained as in-depth understanding of the

environment in which an organization is functioning and how it deals with the

environment to enhance organizations efficiency and effectiveness by increasing the

capacity to use its resources intelligently (Worrall cited in Rudnicki & Vagner, 2014). As

explained above, the business environment plays an important role in the strategic

analysis of an organization. An organization’s environment (illustrated in figure 2)

constitutes of forces surrounding an organization that have an effect on its processes,

performance and resources.


The environment can be further classified into internal environment and external

environment. The internal environment defines organization’s behaviour and comprises

of forces within the organization such as the owners, the board of directors, employees

etc. The external environment consists of all those factors outside the boundaries of the

organization that affects its functionality and operations. External environment is further

classified into specific (micro) environment and general (macro) environment. Specific

environment includes customers, suppliers, strategic partners, competitors and

government. General environment includes various forces that includes political, legal,

economic, environmental, international, demographic and cultural.

Strategic Analysis is very important as it helps organization to systematically examine

the environment to identify and interpret potential challenges that may cause problems


presently or in the coming future. Organizations that fail to strategically analyze the

environment will be prone to operational breakdown, loss of market share, loss of key

resources and other failures. Strategic Analysis will be very helpful for CBI to

understand its position in the industry. Understanding the specific and general

environment of CBI will help to identify the strengths and weakness of the bank. Further

it will also clarify what changes are required at CBI and how those changes can help to

achieve competitive advantage.

Strategic analyses are conducted using various structured and well developed business

models and analytical tools to get improved results, for both internal and external

environment (Blackwell and Eppler, 2014). These analytical tools include but not

restricted to SWOT Analysis, Value Chain Analysis, Organization Capabilities Profile

(OCP), PESTLE, Porter’s 5 Factors, Early warning scans and War Games.

A. SWOT Analysis: Brief summary


SWOT Analysis helps examining organization’s capabilities and resources to exploit

available opportunities and shield against threats (Thompson cited in Peralta & Viltard,

2015). Among various strengths mentioned above, CBI’s core strength lies in its

strategic alliance with QNB that has the great potential to become its sustainable

competitive advantage. The weaknesses highlight areas where necessary

developments are required such as MIS, IT Systems, branch network and online

banking systems. As foreign banks are planning to leave the country, CBI has

tremendous opportunity to capture the market. However, intense competition from local

rivals and stringent banking regulations together with economic slowdown pose a threat.

Matching the internal factors and external factors in form of a matrix (Weihrich cited in

Zavadskas & Tamosaitiene, 2011), TOWS strategic matrix is used to conduct GAP

analysis and position CBI. Figure below shows that CBI is in “Vulnerable” zone.

B. Internal Analysis: OCP & SAP

The Organizational Capability Profile (OCP) tool has been used to carry out CBI’s

internal analysis and structure its appraisal (See Appendix 2 for details). The tool

analyzes organization’s capability factors, strategic strengths and weaknesses, to help

Strengths Weakness

Opportunities Leverage (SO) Constraint (WO)

Threats Vulnerable (ST) Problematic (WT)

GAP Analysis

Internal Factors

Exte

rnal

Fac

tors

Figure 4: CBI's position as per GAP analysis


in formulation of strategy. Organizational capability can be defined as organization’s

ability to carry out operational tasks utilizing it resources to achieve a particular end

result (Helfat & Peteraf cited in Toytari & Rajala, 2015). OCP is created by assessing

organization’s various capabilities in six functional areas of finance, marketing,

operations, personnel, information management and general management. Kozami

(2002) suggested that preparation of OCP proves to be a handy tool to establish relative

priorities of an organization compared to its competitors, its vulnerability to external

forces, the potential threats it could face and its overall capability to survive and

compete in the industry.

The table below (Figure 5) illustrates OCP prepared for CBI. Based on the analysis

carried out in OCP, CBI’s Strategic Advantage Profile (SAP) is prepared (Figure 6) to

identify critical functional areas and how it affects the position of the bank as a whole.


Organizational Capabilities ProfileWeakness

-5

Normal

0

Strength

+5

Financial Capability Factors

Sources of Funds 3

Usage of Funds 0

Management of Funds -2

Marketing Capability Factors

Product Related -1

Price Related 2

Promotion Related 4

Integrated and Systematic 4

Operations Capability Factors

Production Systems 2

Operations Control System 2

R&D System -5

Personnel Capability Factors

Personnel System 3

Organizational and employee characteristics 3

Industrial relations 3

Information Management Capability Factors

Acquisition and retention of information 0

Retrieval and usage of information 0

Processing and usage of information -2

Transmission and dissemination of information -3

Integrative, systematic and supportive -4

General Management Capability Factors

Genera Management System -1

External Relations 2

Organizational climate -4

Figure 5: Illustrating CBI's OCP - See Appendix 2 for details


CBI’s SAP gives a picture about its functional strengths and weaknesses. The overall

internal environment of CBI has been unfavourable with only two functional strengths,

one neutral capability and three functional weaknesses. Marketing and Personnel

factors have been identified as potential strengths of the organization. On the other

hand Operations, Information and General Management are recognized as the

weaknesses of CBI. The Finance function remains neutral.

As highlighted in OCP and SAP, CBI’s core competencies lie within the marketing

capabilities. Among many marketing capability factors, the most prominent strength has

been the strategic alliance with Qatar National Bank (QNB) which has also been

identified as key strength in SWOT Analysis. QNB is one of the largest banking groups

in the Middle Eastern and Africa (MENA) region. The arrangements between QNB and

CBI have allowed CBI to share the same logo as QNB (Figure 7). The new logo has

played vital role in completely changing the brand image and popularity of CBI in UAE

banking industry. Key customers have been able to increase their business dealings

with CBI due to QNB’s popularity around the world as it provides international reach,

Capability Factor Nature of Impact Competitiveness Strength or weakness

Finance →Decent capital structure, Potential to raise capital, good investment opportunities and

backed by Middle East's largest Bank

Marketing ↑ Strong Branding Profile, Impact of QNB's Logo and lowest interest rates offered

Operations ↓ Poor R&D facilities and Obsolete Technology

Personnel ↑Good manpower planning and development, Attractive Employer and good enternal

relations

Information ↓ Inflexible MIS, obsolete IT systems and unreliable information

General Management ↓Ineffective and inconsistent strategic management systems and organization culture not

effective

Figure 6: CBI's SAP based on OCP (See Figure 5 and Appendix 2)


stability and sense of trustworthiness. This rebranding of the organization has provided

CBI with sustainable competitive advantage. Studies have shown that in today’s

competitive business environment, branding plays an important role in achieving

sustainable competitive advantage and formulation of corporate strategy (Balmar &

Gray cited in Thesleff et al., 2011). The effective branding of the CBI also received

recognition by Banker Middle East which identified CBI as "The Fastest Growing Bank"

and "The Most Improved Bank". Although the variety of products offered by CBI has

been low compared to its competitors, CBI distinguishes itself by providing customized

products to its customers. CBI’s marketing strength also lies within the low prices (i.e.

interest rates) it charges for its products. This pricing strategy has helped in attracting

many customers in recent times. It is important to highlight that although CBI may not

have high presence in the retail banking industry (individual customers), it has a good

reputation among its corporate and commercial clients, i.e. wholesale banking.

CBI personnel capabilities have also been highlighted as potential strength in SWOT

and OCP. In competitive banking employment market, CBI has been an attractive

Figure 7: Showing CBI's association with QNB in terms of Branding


employer in terms of monetary rewards. The manpower planning and development has

also been very decent. The quality of staff working at CBI has been very high. CBI can

capitalize on their personnel strengths to overcome the threats posed by the external

factors.

Information management has been the most significant weakness of CBI. In banking

industry where retention, processing and usage of information play a key role, CBI has

been below par. The information flow has been complex and time consuming because

the information system is centralized. The lack of adequate information at the lower

level of hierarchy is very evident. The management needs to effectively communicate

their agenda and vision to the organization to ensure that every part of the organization

is working towards a common goal (Northouse cited in Madu, 2012). The IT

Infrastructure within the organization has been very poor. CBI is still using outdated and

inflexible banking systems which adversely affect information management capability.

The operational capability factors also highlight that lack of advance technology and

insufficient research and development have adversely affected the performance of the

organization. Amado and Walczush (2012) agree with such view by suggesting that

capability in information technology has direct relationship with proactive corporate

environmental strategy and firm performance. Therefore, development in areas of

information management and operational activity is important for CBI to enhance

business performance.

General management capabilities have been weak due to inconsistency. CBI has faced

several changes of the senior management teams over the years. As these changes

are regular, CBI has not been able to implement effective long-term strategies. Although


appointment of new senior management brings in lot of experience and skills to the

organization which has been strength as per SWOT, the middle and lower level

management have struggled to increase efficiency. Therefore despite tremendous

potential, the senior management still requires to enforce drive and determination into

the organizational culture. Hall (1993) concluded that when the organization’s culture is

focused towards high quality standards and ability to change then the culture is key

contributor to competitive advantage.

Lastly, the financial capability has been positioned neutral. Where QNB provides

adequate strength to CBI’s source of funds, the usage and management of funds have

not been up to mark. CBI has the potential to raise capital from the market because of

great reputation of QNB. However the recent financial turmoil has led to greater non-

performing loans where customers have not been able to repay their debts and the

return on investments have been low due to poor economic performance around the

world, resulting in quarterly losses. Therefore financial capability of CBI has been

neutral.

C. External Analysis: Micro Environment (Specific)

The Specific environment of an organization comprises of external forces that have

direct impact on the operations of the organization. Therefore, it is very essential for CBI

to have detailed analysis of micro environment. Porter’s Five Factor model has been

used to conduct analysis of CBI’s specific environment (Figure 8). Porter’s framework is

based on horizontal competition factors (Threat to entry, Threat of substitutes and

Competitive rivalry) and vertical competition factors (bargain power of supplier and

customers). Porter (2004) emphasized that the ability of this technique to determine the


market attractiveness and intensity of competition allows organizations to define its

market appropriately and assess the situation of the industry.

The results of CBI’s micro environment suggest that factors of threat of new entry,

bargaining power of suppliers and threat of substitute are in favour of the organization.

Competitive rivalry and bargaining power of buyers have been unfavourable for CBI.

The threat of new entry is relatively low in banking industry of UAE due to presence of

various barriers to entry. Setting up a bank incurs a high cost which makes it very

difficult to start up a bank in UAE for a new entrant. Government’s banking regulation is

another key barrier to entry. Requirements such as minimum capital limits and lending

controls that restrict business operations reduce the attractiveness to enter the market.

No. Factors Description Magnitude

1 Threat of New Entry- High cost of entry

- Stringent Regulatory RequirementsFavourable

2 Threat of Substitute

- No perfect substitute

- Imperfect substitutes don't threaten

the industry as a wholeFavourable

3 Bargaining power of Buyers

- Switching Cost is low

- High price sensitivity

- Products are mostly similarUnfavourable

4 Bargaining power of Suppliers- Raw material not very significant in

service industry such as bankingFavourable

5 Competitive Rivalry

- Intense Competition

- Low Levels of Product Differentiation

- Moderate Concentration Ratio

- High exit barriers

Unfavourable

The Five Forces Model of Competition

Figure 8: Micro Analysis of CBI using Porter's Five Factor Model


Further, the incumbent banks in the industry pose great threat to any new entrant.

Incumbent banks have great potential to keep prices artificially low to restrict new entry.

Therefore these barriers are effective to hold back entrants in the market ensuring that

CBI, like other banks operating in UAE, is safe in this regard.

Analyzing the generalized products offered by the bank, it is hard to find perfect

substitutes. The framework defines substitute products as products in other industry

with certain similarities (Gabriel, 2006). In CBI’s case, the closest substitutes are few

products that are also offered by mortgage and insurance companies. However, since

most of the products offered by the banks do not have proper substitute for example

current account, the factor is also considered strength for CBI.

Since CBI works in the service industry, it is not dependent on the supplier for raw

materials. The basic supplies in CBI would relate to complimentary products such as

cheque books, cards etc. Therefore this element is also favourable for CBI.

The competition in the UAE banking industry is very intense. Using the concentration

ratio as suggested by Porter (2004), it can be concluded the concentration of UAE

banking industry is moderate, as top five firms make up for 62% of the market share

(Figure 9). The high intensity of competition can also be explained by government’s

controls over the financial institutions to ensure existing large banks do not pose threat

to smaller banks. Formation of cartels is illegal and therefore competition prevails. Low

levels of product differentiation and high exit cost also adds up to high degree of rivalry.

Hence competitive rivalry poses in the micro environment is unfavourable for CBI.


Bargaining power of the customers is another unfavourable element for CBI. With 48

banks to choose from, the customers will definitely be attracted to the one that provides

the best financing package. With low switching cost, high price sensitivity and low

degree of product differentiation, the customers possess high bargaining power.

Siaw and Yu (2004) concluded that collective strength of these forces can help

determine the ultimate potential of an organization to achieve higher profits. Porter’s five

factors identify CBI’s specific environment to be attractive with three favourable factors

and two unfavourable. With effective overall business strategy, the favourable specific

environment can help CBI to increase profitability of the organization.

UAE Banks Concentration CR5

Emirated NBD 18%

National Bank of Abu Dhabi 14%

First Gulf Bank 13%

Abu Dhabi Commercial Bank 10%

Dubai Islamic Bank 7%

Union National Bank 6%

Mashreq Bank 6%

Abu Dhabi Islamic Bank 5%

Commercial Bank of Dubai 3%

RAK Bank 3%

Al Hilal Bank 2%

Sharjah Islamic Bank 2%

Emirates Islamic Bank 2%

Bank of Sharjah 2%

National Bank of Umm Al Qaiwain 1%

National Bank of Fujairah 1%

Noor Bank 1%

United Arab Bank 1%

InvestBank 1%

Commercial Bank International 1%

Ajman Bank 0%

Figure 9: Showing UAE Banking Concentration ratio

(Based on Total Equity from Individual Bank Financials 2014)

62%


D. External Analysis: Macro Environment (General)

In today’s ever changing business environment, it is essential for the organization to be

highly proactive not only considering forces that affect them directly but also the forces

that have an indirect impact on its operations. PESTLE Analysis is used as an effective

tool to analyze the variables (Ward cited in Peralta, 2015), present in the external

environment (illustrated in figure 10), which can affect CBI and its competitiveness. The

results of CBI’s PESTLE Analysis have been summarized below (Figure 10):

The results suggest that political, technological, socio-cultural and environmental factors

are in favour of CBI where as economic and legal factors are unfavourable for CBI. UAE

has been seen as a political stable country and key market player in oil and gas industry

(Dalli & Wilcox, 2006). The region is also popular for it tax-free policies. Being an

important member of Gulf Cooperation Council (GCC) in collaboration with other gulf

countries, UAE provides numerous opportunities for banks like CBI. Therefore, political

factor is in favour of CBI. However it must be noted that Government plans to introduce


new tax regimes as part of economic revival policy which may have a major impact on

CBI and other organizations in the industry.

The wealth generated from Oil exports and tourism has allowed UAE to enhance their

technologies in all aspects. Government has shown keen interest in technological

advancement as it is an essential element to grow an economy and therefore it is

favourable for CBI in terms of investment opportunities for its clients.

The environmental factor is also favourable for CBI as stringent laws to keep the

country clean are in place. An environmental friendly region will attract more customers

and therefore greater business opportunities for banks like CBI. The socio-cultural factor

has also been favourable for CBI. With millions of expatriates living in UAE, the market

is suitable for variety of banking products. High population growth rate, great numbers

of tourist visiting the country, higher percentage of people in the age band of 15 to 24

and high level of consumerism make UAE a market with high demand for banking

products (especially credit cards and personal loans).

The current economic turmoil has already hit banking industry and is expected to

worsen. UAE may seem a land of opportunities but the volatility in the economic cycle

has been a negative element. The economy’s dependence on oil industry, real estate

and tourism has adversely impacted the banks like CBI. The price level has been on the

rise and the wage rate hasn’t increased substantially. This has led to investors looking

for other options and employees wanting to shift to other region. Therefore the

economic factor has been unfavourable for CBI.


UAE has been considered very strict and complex when it comes to legislation. The

legal cost of living and doing business in UAE is very high. Organizations are required

to follow well defined rules and regulations regarding particulars like employee

management, labour laws, health and safety laws and consumer protection laws. The

legal requirements for Banks have been very stringent. Therefore, the legal factor also

acts as a threat to general environment of CBI.

The analysis has provided firm base to understand the position and potential of the

organization together with the market growth (Nataraja & Al-Aali, 2011). PESTLE

analysis shows that the overall macro environment is favourable for CBI with majority of

factors in positive zones. However, economic and legal factors do provide substantial

threat to the organization which needs to be addressed when formulating strategy.

E. Corporate Portfolio Analysis: Boston Consulting Group (BCG) Matrix

To ensure taking up an effective strategic choice, it is essential for an organization to

carry out corporate level strategic analysis through Corporate Portfolio Analysis (CPA).

CPA can be described as set of techniques which aid in carrying out portfolio analysis of

an organization to be used for competitive analysis and strategic planning. Teryima and

Aondona (2014) explained that CPA concentrates on evaluating the relative market

share position of an organization and industry growth rate over a period of time to

identify which portfolio derives greater value of market share and growth level such that

much performance level will be attained.

Boston Consulting Group (BCG) Matrix has been used to conduct CPA of CBI. The

matrix has been defined as the combination of the choice of product life cycle and

market share of the organization (Henderson cited in Hambrick et al. 1982). The matrix


has four quadrants which are based on the relative market shares and the industry

growth rate. The four quadrants are dogs, cash cows, question marks and stars.

Businesses can be placed in one of the quadrant based on their position considering

industry growth rate and relatively market share. The quadrants are shown and

described below (Figure 11):

Using the analysis in the previous sections, CBI has been positioned in the “Question

Mark” quadrant of BCG Matrix. CBI’s small market share, also illustrated in figure 9, has

been the major reason for categorizing the organization as a question mark. The

internal analysis of SWOT and SAP have highlighted that CBI has tremendous potential

High Question Marks Stars

High growth and Low market share

The problem with these business units is that

their small market share does not make

enough money for its own funding in order

to keep pace with the competition, thus their

existence is questionable

High growth and High market share

Leadership in the industry provides very

good profits and requires constant and

continuous investment in order to maintain

this market growth rate

Dogs Cash Cows

Low growth and Low market share.

This is the characteristic of mature and

stagnating industries whose profitability is

weak and unlikely to become a source of

money.

Low growth rate and High market

share.

Generates large amounts of money that

cannot be profitably reinvested, but serves

to cover the costs of development and

research, to improve other business units,

companies, interest payments, or dividends.

Low High

Mar

ket

Gro

wth

Rat

e

Market Share

Figure 11: Showing Boston Consulting Group (BCG) Matrix as described by Kosir et al.

(2012)


in its marketing and personnel capabilities, however it is going through certain cash flow

and profitability problems. The inability to generate adequate cash flows has been key

characteristic of “Question Marks” (Douglas and Christopher cited in Srivastava and

Prakash, 2011). Furthermore, the external analysis of PESTLE has pointed out the

unfavourable economic conditions have had a great impact on the business

performance of CBI resulting in slower growth of sales which has kept the market share

low. Lastly, CBI entered the market when there were already established banks with big

customer base and recognized brands. Taggart and Harding (1998) concluded that

question marks exist in high growth market that already has established brand leaders

which validates the categorization of CBI as question mark.

Strategic Choice: Stability Strategy

After complete analysis and understanding of the CBI’s current situation, business

environment, strengths and weaknesses it is important to make strategic choice. Out of

various strategic alternatives, it is recommended that CBI consider stability strategy of

pause and proceed with caution as CBI is placed in the “question mark” quadrant of

BCG Matrix. Phadtare (2010) explains that this type of stability strategy is where the

organization keeps its business definition unaltered and wishes to test the grounds

before conducting full-fledge strategy. It is a temporary strategy where it is important for

the organization to impose a phase of consolidation before embarking on further

expansion.

Considering the current economic instability of UAE, it is important for smaller banks like

CBI to carefully assess the market sentiments. CBI’s performance in the last few

quarters has generated losses as the market conditions worsened. Therefore it is


important for the organization to hold back and survive, through this strategy, in this

unstable situation until the economic forces are favourable. A stability strategy of pause

and proceed with caution will best suit CBI as the Bank can’t afford to take many risks

and any sort of expansion under these economic conditions will increase cause a

setback.

Furthermore, CBI’s new senior management needs time to settle and implement their

organizational culture. Therefore this strategy would help the minor structural changes

to take place and allow the organizational system to adapt to the new vision and

approach of the new management. Kozami (2002) concluded that pause and proceed

strategy is an intentional attempt to postpone major strategic changes in the

organization to a more appropriate and opportune time to move on with the rapid strides

again.

For CBI, this appropriate time would be when the economic situation improves

substantially and when the new management is able to successfully implement their

business approach in the organization. As above conditions are fulfilled, CBI can

consider changing their strategy.

Conclusion

Strategic Analyses are very important to understand various dimensions of the

organization by dissecting the organization into different elements and analyzing each

element in detail. Internal strategic analysis has been very helpful in identifying the

strengths and weaknesses of CBI. The OCP and SAP framework, tools used for internal

analysis, indicated the functions and areas that require further development and

attention for organization to prosper. External Analyses on the other hand provided an


effective insight into the opportunities and threats faced by CBI both at micro and macro

level. Porter’s Five framework was effectively used to identify the impact of micro factors

on the external environment of CBI. The macro variables affecting CBI’s external

environment were analyzed using PESTLE analysis. Using the internal and external

analyzes, CBI was positioned in the “question mark” quadrant of BCG matrix. Stability

strategy of pause and proceed with caution has been recommended for CBI to survive

in the UAE banking industry until the overall environment becomes favourable.

Word Count: 4,343 Words


Appendix 1 – SWOT Analysis

SWOT analysis of CBI assessed the strengths and weaknesses of the bank. It further

examined the opportunities and threats that can be posed by the external forces.

Weaknesses

1. Compared to the competitors, CBI’s branch network and ATM has been a significant drawback. CBI has only 25 branches and

around 150 ATMs in UAE. With smaller retail network, CBI fails to compete with its rivals who boast very high numbers when

it comes to branches and ATMs. ENBD, Mashreq Bank and RAK boast large network of ATMs and branches which attract retail

customers.

2. With increasing use of technology in banking sector around the world, CBI hasn’t been able to come close to its competitors.

The quality of CBI’s online banking and mobile banking has been below par compared to what has been available in the

market.

3. Most banks in the UAE have decentralized operations where each branch reports separately to the head office. This allows

branches to increase efficiency through more suitable transaction processes. On the other hand, CBI is still using the

centralized decision making process where every transaction approval has to go through the head office. Therefore the

transaction processing time is relatively high and fends off potential as well as existing customers.

4. CBI’s card facility has been a major setback for its customers. Firstly, there have been many reports of cards not working on

certain transactions. Secondly, competitors have come up with better promotional offers like discounts, vouchers etc which

hasn’t been proactively implemented by CBI.

5. CBI’s inactive treasury has also been one of its weaknesses. Other banks have been active in the money market and capital

market where as CBI has remained very inactive in trading activity.

Strengths

1. Qatar National Bank (QNB) holds 40% stake in Commercial Bank International (CBI) which provides the latter significant

strategic advantage. QNB has remained the largest bank of GCC in terms of assets, capital and net profit as of June 2015 with

45% of market share in Middle East and North Africa Region. QNB was also named “One of the World’s Strongest Bank”, “The

Best Bank in The Middle East” and “One of The Top 50 Safest Banks in the World” by various market research companies.

2. A strategic alliance with QNB allows CBI to expect future growth and prosperity with global reach. The association also

introduced new branding strategy by CBI where the new logo of CBI has been the same used by QNB. Other than improving

brand image and strong market reputation, CBI will also enjoy the expertise, banking knowledge and products offered by QNB.

Therefore this is categorized as the most important strength of CBI.

3. CBI has recently appointed new faces in senior management roles. Among many changes the prominent change has been

the appointment of Mark Robinson in February 2015. Mr. Robinson has been in banking industry for over 30 years and has

worked for top banks of the world including Citibank and ANZ Bank. With further senior appointments in Retail Banking,

Treasury, Islamic Banking and Finance, it is expected that the new team will bring greater excellence to the organization.

4. 57% of the shares of CBI have been held by QNB (40%), Mohammed Omar Ali Bin Haider (8.94%) and Ras Al Khaimah White

Cement Company (8.18%). All these three groups are very successful and stable organizations which gives a financially stable

and strong capital base. Further, as per reports by Kassem (2015), CBI is planning to raise find to inject more capital and

expand its operations.

5. The interest rates offered by CBI on some of its products are among the lowest in the industry. The “Low Rate Visa Platinum

Card” charges very low interest rates compared to that of the competitors. Further, CBI also has keenly emphasized on offering

tailor made products to its customers. The organization feels it attract more customers by providing customized products to

match their needs.

6. Lastly, CBI’s partnership with QNB has allowed it to attract more large corporate customers who are involved in trading

internationally. The trade finance products of CBI have been preferred by many large corporate due to their involvement with

QNB. Since 2013, there has been a rise in the number trade finance customers.


Opportunities

1. Trenwith (2015) pointed out that some of the world’s largest banks are exiting the UAE market. Important names include

Barclays, Royal Bank of Scotland and Standard Chartered. The lesser number of foreign competitors would mean customers

would turn to local banks. This provides CBI with great opportunity to increase its market share in the UAE market.

2. Dubai 2020 provides CBI with the opportunity to make its presence felt. The great opportunities that this mega event brings

would allow the banks in the region to increase their business as many projects are related to this event. This event provide a

multiplier effect in the economy as various projects start up and ancillary firms would require funds to satisfy the potential

demand created by this event.

Threats

1. The Central Bank of UAE has imposed very strict regulations in the banking industry after suffering various financial crises.

The ever increasing regulatory requirements restrict the freedom with which the bank wishes to operate. For example the

capital adequacy limits reduces banks ability to lend.

2. Local Banks pose very tough competition to CBI. Most banks in UAE have been operating way before CBI emerged in UAE.

Government backed banks are more preferred by many customers and therefore creates difficulty for CBI to increase its market

share.

3. The current economic slowdown has made situation very difficult especially for the financial institutions. Increasing non-

performing loans and uncertainty among the investors has destabilized banking operations. CBI has also been hit hard with

this downturn with lenders failing to pay back their loans and advances.

4. The increase in scope of Islamic Banking has attracted many banks in UAE to introduce Islamic banking operations.

Competitors have started Islamic banking few years ago where as CBI just recently started its Islamic window. Therefore,

competitors have already developed innovative Islamic products and have floated them in the market. To enter this market at a

very later stage poses threat to CBI in UAE market.

5. CBI’s real estate sector exposure stands at aver 20%. Higher concentration risk in real estate is a big threat to CBI

considering the economic slowdown.


Appendix 2 – Organizational Capabilities Profile (OCP) & Strategic Advantages Profile (SAP)

Financial Capability

Sources of Funds

Is the organization's capital structure satisfactory?

Yes, the capital structure is satisfactory considering the size of the organization.

Can the organization raise capital in the market?

Yes, CBI can certainly raise capital in the market.

Where does the effective controllership rest?

Effective controllership rests with Qatar National Bank (QNB) which is the largest bank in the Middle Eastern region.

Does the financing pattern cause the organization to be dependent on outsiders?

Although QNB provides good financial support, CBI is also dependent on its public holing and customer deposits to conduct

business activities.

Is the reserves and surplus position healthy?

Due to losses and writing off the non-performing loans, the reserves and surplus figures not up to mark.

Is relationship with bank and financial institutions cordial?

The relationship with other financial institutions is reasonably good.

Is the debt equity ratio satisfactory as compared to other competitive organizations?

CBI’s Debt to Equity ratio is reasonably high compared to competitors (shown below).

Banks in UAEDebt ot

Equity

National Bank of Umm Al Qaiwain 2.49

RAK Bank 3.88

Invest Bank 3.97

Mashreq Bank 5.26

Abu Dhabi Commercial Bank 6.72

Emirates NBD 6.76

Abu Dhabi Islamic Bank 7.18

Commerical Bank International 7.41

United arab Bank 7.83

National Bank of Abu Dhabi 8.91

Ajman Bank 9.18

Source: Financials of Individal Banks


Usuage of Funds

Are adequate investment opportunities available?

Yes, the UAE’s market provides ample investment opportunities.

How does the organization compare with others so far as the dividend record is concerned?

The dividend record of CBI has been the worse among the competitors mainly due the banking operations of CBI starting late

compared to other banks.

What types of relationships exists with its shareholders?

CBI enjoys strong relationship with its shareholders.

Banks in UAEEarnings per

share

Commerical Bank International -0.01

Ajman Bank 0.03

Invest Bank 0.06

United arab Bank 0.13

Abu Dhabi Islamic Bank 0.16

National Bank of Umm Al Qaiwain 0.17

RAK Bank 0.21

Abu Dhabi Commercial Bank 0.23

National Bank of Abu Dhabi 0.28

Emirates NBD 0.30

Mashreq Bank 3.62

Source: Financials of Individal Banks


Management of Funds

How effective and efficient are the financial, accounting and budgetary systems?

The financial, accounting and budgeting systems are moderately effective.

Do the management control systems satisfy the organizational needs?

No, the organizational needs are not fulfilled with current management control system. A newer system implementation is in

process.

What trends do the various financial ratios indicate?

Financial ratios indicate a bleak picture of the position of CBI. The economic slowdown, change of management and writing off

NPL has had a big impact on the key ratios of CBI (shown below).

Have they been satisfactory over the last few years?

No, the ratios have been disappointing.

What strengths and weaknesses does the ratio analysis indicate?

The Ratio analysis indicates a weak position of CBI as a whole.

Has inflation been taken into account?

Yes, inflation has been taken into account as valuations are done based on inflation and interest rates.

What is the status of the ongoing projects?

System implementation and Business Model implementation are under process to change the operational style of CBI.

Have there been time and cost overruns?

Yes, the new and existing projects are costing CBI heavy costs but the new management feels it is important for survival in this

market.

Price Earning Ratio -171.00

Return on Equity -2.45

Return on Assets -0.34

EPS -0.01

Net Profit Growth -139.71

Total Assets Growth 0.61

Book Value Growth -3.82

EPD Growth -137.82

Free Cashflow -380.88

CBI

Source: Financials of CBI


Marketing Capability

Product related factors

Does the organization offer the requisite variety of products of services?

Yes, the organization offers wide variety of products and services.

What is the level of product differentiation?

In the banking industry, products are very similar and hence there is low degree of product differentiation. However, CBI offers

various customized products to cater customer needs.

Does the product mix satisfy market requirements?

No, CBI needs to introduce more products to cater the requirements of the market.

Are there products which do not contribute to profitability?

Yes, there are many loss making products.

What steps have been taken to phase-out such products?

Stress has been given to improve the quality of these products not to completely phase out the products.

Price related factors

What pricing objectives are pursued?

To provide the lowest possible prices in the market

Are they oriented towards price maximization or sales revenue maximization?

Sales Revenue Maximization

Do the pricing policies conform to market requirements?

Yes all banks are seeking ways to charge lowest possible prices to capture the market.

Promotion related factors

Does the organization use relevant promotional tools?

No, promotions on certain products are missed out by CBI.

Are the different forms of promotion used effectively in generating sales?

Yes, branding of the Bank has helped a lot in increasing the sales.

What does market research indicate with regard to promotion and public relations?

After collaboration with QNB, the promotion of the banking products together with the organization’s image has improved

substantially.

Are the funds allocated to promotion being used effectively?

Large sum has been allocated for effective promotion of the Bank. The new management has emphasized on improving brand

image.

Integrated and Systematic factors

How does the organization compare with others of its kind in tears of market standing and image?

Although the image has improved significantly after partnership with QNB, the market share hasn’t been very high due to

existence of very large banks and higher number of smaller banks.

What strengths and weaknesses are there in the marketing organization?

CBI’s strength lies in its branding which has been the core competence. The weakness lies in its retail products promotions

where lack of branch network presence and substandard online banking have slowed down progress.

How effective is the marketing management information system?

It has been somewhat effective and regular reports are distributed to the concern parties.


Operations Capability

Personnel Capability

Factors related to the production system

Do work systems support efficiency and productivity?

The systems used are obsolete and require enhancement.

What is the extent of vertical integration?

Yes it has two subsidiaries Takamul Real Estate and International Financial Brokerage LLC

Does it offer certain unique advantages to the organization?

Yes, it does provide an advantage in investment opportunities.

Factors related to the operations and control system

Is aggregate planning able to absorb short terms demand fluctuations?

Yes, contingency plans are created for such incidents.

Is there an adequate supply of factors of production?

Yes.

Does the organization have any unique advantages with respect to its factors of production

No, CBI does not have any advantage in terms of factors of production.

How effective are the cost, quality and maintenance systems

Moderate Effective

Factors related to the R&D system

Does the organization possess certain distinct advantages with respect to its R&D personnel, facilities, and technology?

No

Does it possess patent rights?

No

Does it have access to the latest technology?

No, this is one of the weak areas

Factors related to the personnel system

How effective are the various personnel systems like manpower planning, selection, development etc

The human resource planning selection and development is very effective. Regular trainings are offered to employees to

increase their skills. The recruitment process and career planning are also very good.

What importance does the personnel function enjoy within the organization

It is very crucial as the function is responsible to bring in the human resource and to contain it.


Information Management Capability

Factors related to organizational and employee characteristics

How does the organization compare with others of its kind in terms of corporate image?

CBI has a good image in terms of corporate image.

Does the organization possess unique advantage with regard to the quality of its managers, staff and workers

The new management team seems to bring in great experience and skills to the Bank. However, it is too soon to judge the

capabilities and performance of the management.

How is the organization perceived as an employer

CBI is known as an attractive employer. Although the size of the organization is relatively small, it has higher job security

compared to its competitors.

What special benefits does the organization offer to its employees that others do not offer

Monetary benefits along with certain perks offered by CBI are better than offered anywhere else in the banking industry.

Further certain banking products are available to the employees at very low rates.

Factors related to industrial relations

What is the organization's record with regard to industrial relations

CBI has been doing well in terms of building and maintaining industrial relations

Does the organization offer safety welfare and security measures over and above the statutory requirements

Yes

What is the general level of employee satisfaction and morale

In terms of monetary benefits, the employees are very much satisfied. However the learning scope and career growth have

been problematic as CBI uses obsolete systems.

Factors related to acquisition and retention of information

Where does the organization stand with respect to the sources, quality and timeliness of information for decision making?

The MIS in CBI has been average.

What is the level of its retention capacity for information?

Record and information keeping at CBI is neutral.

How secure are its information systems?

Somewhat secure

Factors related to processing and synthesis of information

How well does the database management work in the organization

As a bank the database management has been average.

What is the state of the art with respect to computer systems and software capability of the organization

The computer systems are slightly old however the basic software is very much up to date.

What is the level of its ability to synthesize information

The current banking system implemented at CBI has been inflexible in terms of synthesizing information. However, new

system is in implementation phase.


General management Capability

Factors related to retrieval and usage of information

Is the availability and appropriateness of the information format adequate

No, the information availability is not centralized at the moment unlike the practices at other banks.

What is the capacity of the organization to assimilate and use information

Information gathering is often time consuming due to amount of data required. However once the information is available it is

used appropriately to make key decisions.

Factors related to transmission and dissemination

What are the speed, scope, width and depth of coverage of information in the organization

Speed is relatively slow compared to competitors. The scope, width and depth of information available have been very vast. As

a Bank CBI requires making all possible analysis to provide management to make key strategic decisions

What is the level of willingness on the part of managers to accept information

Since information takes a lot of time, reliability of the information has been an issue since check and balance would take more

time. Therefore managers at CBI are only willing to accept information which is known to them.

Integrative, systematic and supportive factors

What is the situation regarding the availability of the IT infrastructure within the organization

IT infrastructure requires development.

Is it relevant and compatible with the organizational needs

An improved IT can help improve the business environment and operations of CBI.

Does the organization carry out regular and periodical upgradation of its IT facilities

No

Is there willingness on the part of the top management to invest in the latest IT systems

The new management has invested heavily to bring in new technology to improve functionality of the bank.

Are competent IT professional available within the organization

Yes

Does the top management support IT application within organization

Yes

Factors related to the general management system

Does the organization use strategic management systems and what is the level of their effectiveness

Yes, CBI does use strategic management system but it hasn’t been very effective in terms of improving the situations of the

organization.

Have the mission purposes and objectives been identified clearly

Yes

What is the effectiveness level of the strategy formulation, implementation and evaluation processes

The past strategies haven’t been very fruitful. The new management’s strategy is expected to improve the organization as a

whole.

Is the management information system reliable

There is little discrepancy

Does the organization possess distinctive advantages with respect to its corporate planning system

No

Are the rewards and incentives systems for top managers consistent with the achievement of objective

There are good incentive systems however not consistent with the achievement of the objective.


Factors related to general managers

Does the top management possess the required orientation to implement strategies

Yes

As compared to similar organizations, what are the qualities and capabilities of the general managers

Very similar

Do these qualities and capabilities offer any unique advantages to the organization

No

Factors related to external relationships

What is the level of influence that the organization has on governmental regulatory institutions and financial institutions

Very little influence due to alliance with QNB

Is the organization able to manage its public relations well

Yes

Does the organization discharge its social responsibilities well

Yes

How does the organization compare with regard to its public image with respect to its competitors

The public image is slightly below compared to that of the competitors

Factors related to organizational climate

Does the organizational culture support the achievement of objectives

No, there is a definite need to encourage employees to change the culture

Is the use of power, political equations and the balance of vested interests conducive to the achievement of objectives

No

Do these factors offer any unique advantages

No

How effectively does the organization imbibe strategic changes

In the past the strategic changes haven’t been taken well

Is the nature of organizational structure an controls consistent with strategy implementation

There is a new model in place to align the organizational structure with the objective of the organization


Appendix 3: PESTEL Analysis

Political Environment

Stable political environment in UAE

UAE is popular choice as a tax-free zone

Government plans to introduce certain taxes that could affect the organizations

working in the region

UAE enjoys the benefits of being part of Gulf Cooperation Council (GCC)

Central Bank of UAE is the regulatory body to monitor and regulate the banking

industry

Economic Environment

Interest Rates in UAE have remained low and aren’t expected to change

The real economic growth of UAE is expected to slow down due to slowdown of

worldwide market conditions. Analysts have predicted a recession to hit the

worldwide economy in coming months.

The rate of inflation has been increasing over the years. However, the economic

slowdown may result in fall in general price level.

UAE’s high dependency on oil and real estate has been a real concern

The wages level in UAE has been rising moderately however it is not consistent

with rise in price level

Unemployment rate has been falling


Social Environment

UAE is home to millions of expatriates making UAE a highly diverse region with

many different cultures.

Level of education is higher in UAE and is under further development

Although UAE is a Islamic Country, it allows people to follow other religion

Most population is between 15 to 64 years old

Dubai and Abu Dhabi are the largest cities in terms of population

The consumer confidence has been falling due to economic slowdown

UAE is assumed to have good leisure activities and work life balance is

considered to be balanced

Yearly events such as global village and various exhibitions attract investment

opportunities

Technological Environment

UAE government has been spending great amount in research and development

to improve the economy as a whole.

Government and industry both are very interested in improving technology to

compete with the best in the world

Technological maturity is still under development but has been high to match the

latest developments around the world


UAE has developed legal frameworks to ensure intellectual property is protected

Technological advancement in the banking industry has been impressive

Latest technology is used in education sector

Technology is changing very rapidly and UAE has been able to adhere to the

changing situation

Environmental Environment

The rules and regulations imposed to keep the country clean have been very

strict. Large sums of penalty are forced on violation of laws.

Government has introduced environmental friendly facilities such as transport

and awareness campaign to encourage people to adopt environmental friendly

practices.

Legal Environment

UAE has been considered very strict in terms of its regulation

The legal cost of living in UAE is reasonably high

UAE has very well defined rules and regulation for employees working in this

region. This includes proper health and safety laws, employment contractual laws

and compensation laws.

Consumer laws are also in place in UAE


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