Need an argumentative essay on Corporate Strategy. Needs to be 6 pages. Please no plagiarism.Download file "Corporate Strategy - HBOS" to see previous pages... It was the HBOS Group Reorganisation Act

Need an argumentative essay on Corporate Strategy. Needs to be 6 pages. Please no plagiarism.

It was the HBOS Group Reorganisation Act 2006, a private Act of Parliament, which gives more operational freedom to the group. With this Bank of Scotland has become its principal banking subsidiary. It has three more subsidiaries such as Halifax plc, HBOS Australia and HBOS Insurance and Investment Group Limited.

While Halifax operates as retail banking division in Scotland, England and Northern Ireland, Bank of Scotland is main retail banking division in Scotland. Formed in 2004, HBOS Australia is a consolidation of group's companies in Australia. HBOS Insurance and Investment group manages insurance and investment products in UK and Europe. HBOS is launched as a 'New Force' in banking and claimed as a major and distinctive new competitor in the UK financial service markets. It has about 22 million customers all over the world and unique expertise of the global banking scenario. It has three strong divisions of retail banking, corporate banking and investment. It is believed that successful acquisition and integration of many banking units has helped HBOS to emerge as a major financial conglomerate in Europe. Its average growth is around 10 percent. It operates under a number of well known brands.

Businesses that actively pursue innovation generate more growth and profits than those that do not. This process will give the institution higher brand awareness and appeal. Last few years HBOS has been introducing innovative and customer oriented measures to achieve this goal. This has given it an upper hand in the industry. In its long years of existence it has been adding up more products and services to cater to the different needs of the people. The globalization, liberalization and privatization process has opened up new opportunities and challenges for the bank. The bank has entered into new markets with a global vision. In the recent period, it has grown to become a leading financial mall and global finance retail network. The market capitalization of the group is the fourth largest in UK. With assets of over 400 billion, HBOS is UK's largest mortgage and savings provider. It has several high profile brands including Bank of Scotland, Halifax, Birmingham Midshires, Intelligent Finance and Clerical Medical.

But with globalization is turning to new trajectory challenges and opportunities before banks such as HBOS are crucial and thought provoking. Financial sphere of the world has changed a lot with free flow of fund and resources from continent to continent or countries to countries. Financial institutions are now compelled to find new models of growth. There are lot of pressure from investors, shareholders, promoters and customers for fulfilling growing expectations. But squeezing margins, impact of technology and increasing competition are compelling banks to reduce cost as low as possible. Today's banking has more global behavior than local flavour. The management has to taken into consideration lot of global and demographic issues before giving shape to a product, service or strategy. The risk management has got more concentration among bankers. Also expectations of customers are growing more with peer bank competition. Most of the banks in Western countries have now entered into high potential new destinations such as India, China and North American countries. They are also adapting both organic and inorganic growth models to survive in the new context.

Today's financial service industry is facing lot of problems.