OtherPapers.com - Other Term Papers and Free Essays
Search

Dynamics of Corporate Strategy

Essay by   •  July 22, 2012  •  Research Paper  •  2,818 Words (12 Pages)  •  1,694 Views

Essay Preview: Dynamics of Corporate Strategy

Report this essay
Page 1 of 12

Strategic Management 2011

TABLE OF CONTENT

Executive Summary.............................................................................3 - 4

Company Overview..............................................................................4 - 7

Vision................................................................................................7

SWOT Analysis

* Strength.....................................................................................8

* Weaknesses...............................................................................8 - 9

* Opportunity.................................................................................9

* Threats.......................................................................................9

Marketing Segment...............................................................................10

Conclusion..........................................................................................10 -11

References...........................................................................................12

Strategic Management 2011

Executive Summary

This week, 40 years ago the United Arab Emirates (UAE) was least known and was one of the

least developed nations in the world. Thanks to the visionary leadership, the country today

enjoys high standard of living and has achieved an income level comparable to that of

industrialized nations.

The UAE is made up of seven emirates (states), with each emirate having a ruler. December of

1972, these emirates decided to form a union and the UAE was born. Before the union, the

economy of the regions was largely depended on farming, small scale trade, fishing and pearl

diving. With the discovery, exploration and exportation of oil, the UAE realized significant

development within a very short timeframe.

With her dedicated and visionary leaders the UAE developed all sectors including

political, economic and social to the benefit of her people. With all these conducive and

favorable environment of political stability, economic growth and social uplifting the country

established itself as the hub for trade and commerce. This led to the huge demand of different

services including financial and banking.

The oil price, commerce and trade led to the success of the banking industry in the UAE.

Banking and financial services flourished due to the high oil price and the needs of the

thousands of migrant workers who wanted to use these services.

Banking in the UAE is of two categories, local owned or foreign. Foreign owned banks have

some limitations set by the UAE Central bank on the number of branches to operate in the

country.

Banking industry enjoyed strong economic success, and this can be attributed to the low

interest rates, high oil prices and the booming economy of the country with both working

population and businesses seeking credit for their different needs.

One of the banks, which has rejuvenated and enjoyed success, is First Gulf Bank (FGB). In this

Strategic Management 2011

Article we will look FGB's initial failures and later subsequent success after it was taken over.

We look into their strategies and why they succeeded over their competitors.

Company Overview

First Gulf bank (FGB) is one of the fastest growing and successful banks in the UAE. The bank

was first established and headquartered in Ajman (one of the emirates of UAE) in 1979.Due to

some mismanagement and failures the FGB was rescued and taken over by some Abu Dhabi

based investors in 1988. The bank was restructured and the management overhauled.

FGB is a publicly owned organization currently headquartered in Abu Dhabi and is listed on the

Abu Dhabi Securities Exchange. The majority shareholders are some from the Abu Dhabi ruling

family, with Sheikh Hazza Bin Zayed Al Nahyan being the chairman, while his brother Sheikh

Tahnoon Bin Zayed Al Nahyan is the vice chairman.

Towards the end 2002 FGB opened its retail division and started consumer banking. Since then

FGB has achieved tremendous success, both in profit and growth. The major factor for this was

the fact that the UAE economy was booming and demand for credit was overwhelming.

FGB provides different financial services and products for both retail as well corporate markets

and is fully into investments. The Bank offers construction, real estate, industrial, trade finance,

agricultural and personal loans, and treasury and foreign exchange services. Also the bank has

diversified into real estate sector and has gone into joint venture with some well established

giants in this sector including Surouh Properties and

...

...

Download as:   txt (16.4 Kb)   pdf (177.7 Kb)   docx (18.2 Kb)  
Continue for 11 more pages »
Only available on OtherPapers.com
Citation Generator

(2012, 07). Dynamics of Corporate Strategy. OtherPapers.com. Retrieved 07, 2012, from https://www.otherpapers.com/essay/Dynamics-of-Corporate-Strategy/31726.html

"Dynamics of Corporate Strategy" OtherPapers.com. 07 2012. 2012. 07 2012 <https://www.otherpapers.com/essay/Dynamics-of-Corporate-Strategy/31726.html>.

"Dynamics of Corporate Strategy." OtherPapers.com. OtherPapers.com, 07 2012. Web. 07 2012. <https://www.otherpapers.com/essay/Dynamics-of-Corporate-Strategy/31726.html>.

"Dynamics of Corporate Strategy." OtherPapers.com. 07, 2012. Accessed 07, 2012. https://www.otherpapers.com/essay/Dynamics-of-Corporate-Strategy/31726.html.