Royal Bank of Scotland
Case Study: The Royal Bank of Scotland Group
Executive Summary
Today, The Royal Bank of Scotland (RBS) is one of the biggest banking institutions with its capabilities to provide world-class services whilst maintaining its reputation as a top financial services provider in the banking industry. Its leadership in this market is remarkable, and so are the ways the bank’s governing body has been able to manage the complexities, challenges and changes that come with the industry.
Understanding that the Royal Bank of Scotland (RBS) has recently undertaken a series of changes, this report provides an outlook of the approaches RBS has taken to manage those changes. This report also includes the assessment of the success that RBS has experienced with the implementation of those changes. The implication of this approach and changes made on the part of RBS are also provided.
A. RBS has undertaken a series of changes in recent years. Describe the approach they have taken to manage change and evaluate the success of these changes. Why has RBS developed such an approach?
The Royal Bank of Scotland (RBS) has been a leader in the provision of financial tools and services in Europe since 1727. RBS has established itself as a pioneer of sustainable business restructuring and decision-making, which has helped it to maintain a competitive advantage in the industry. For a long period of time, RBS has been able to manage and cope with economical climate changes, but with the recent global economical recession and the challenges it has proposed, RBS has had to implement new policies and restructuring to its business in order to manage market uncertainty. This means the bank needs not only developing elemental management approaches, but also including leadership innovations in its business structure to ensure adaptability to change. As part of its ability to take the lead in its industry, there were various essential moves RBS attempted to initiate in order to promote high
Executive Summary
Today, The Royal Bank of Scotland (RBS) is one of the biggest banking institutions with its capabilities to provide world-class services whilst maintaining its reputation as a top financial services provider in the banking industry. Its leadership in this market is remarkable, and so are the ways the bank’s governing body has been able to manage the complexities, challenges and changes that come with the industry.
Understanding that the Royal Bank of Scotland (RBS) has recently undertaken a series of changes, this report provides an outlook of the approaches RBS has taken to manage those changes. This report also includes the assessment of the success that RBS has experienced with the implementation of those changes. The implication of this approach and changes made on the part of RBS are also provided.
A. RBS has undertaken a series of changes in recent years. Describe the approach they have taken to manage change and evaluate the success of these changes. Why has RBS developed such an approach?
The Royal Bank of Scotland (RBS) has been a leader in the provision of financial tools and services in Europe since 1727. RBS has established itself as a pioneer of sustainable business restructuring and decision-making, which has helped it to maintain a competitive advantage in the industry. For a long period of time, RBS has been able to manage and cope with economical climate changes, but with the recent global economical recession and the challenges it has proposed, RBS has had to implement new policies and restructuring to its business in order to manage market uncertainty. This means the bank needs not only developing elemental management approaches, but also including leadership innovations in its business structure to ensure adaptability to change. As part of its ability to take the lead in its industry, there were various essential moves RBS attempted to initiate in order to promote high
References: Business Case Studies LLP: Motivating through total reward, 2012, viewed 10 October 2012, <http://www.thetimes100.co.uk/studies/view-brief-study-motivating-through-total-reward--106-258.php>. Scotsman.com, RBS axes 9,000 jobs in bid to cut £2.5bn, 2012, viewed 10 October 2012, http://thescotsman.scotsman.com/latestnews/RBS-axes--9000-jobs.5151185.jp Stredwick, J 2012, An Introduction to Human Resource Management, 2nd ed., Routledge, London. The Guardian: RBS tells employees: bank with us or go unpaid, 2007, viewed 10 October 2012, <http://www.guardian.co.uk/business/2007/mar/23/currentaccounts.savings>. The Royal Bank of Scotland: About RBS, 2012, viewed 11 October 2012, <http://www.rbs.co.uk/personal.ashx>.