Comeback of the SNS Bank: An analysis of the organization and a strategy for the organization
Comeback of the SNS Bank
An analysis of the organization and a strategy for the organization
Paper Public Relations & Reputation Management
13-05-2013
Abstract
The Dutch government nationalized SNS Reaal, a bank and insurance company, on February 1st this year due to the incapability to solve its financial and organizational issues. The nationalization generated a great deal of media attention, mainly in a negative sense. This operation caused SNS Reaal to suffer serious reputational damage. A staunch plan is needed to guide SNS Reaal through the months following this crisis in order to regain the trust of its stakeholders and rebuild its corporate image. Through case study research the situation at SNS Reaal is described, and its most important stakeholders are introduced. After that, the ideal reputational circumstances with regard to mission, vision and values supported by Cornelissen (2011) and other literature is presented. Then, a strategy that attempts to achieve the desired results is provided, discussing desired communication towards various stakeholders, communication channels and a timeframe to do so. Finally a mention towards possible evaluation methods is made.
Inhoud
Introduction
In this paper a case study concerning the Dutch bank SNS Reaal is presented. An unavoidable bankruptcy leads to the nationalization of SNS Reaal on the 1st of February this year (NRC, 2013). In the summer of 2006 SNS takes over an enterprise named Property Finance. With this take-over, they became the biggest Dutch financier of real estate. But Property Finance provides more problems than progress. In the second quarter of 2009 SNS Reaal suffers a great financial loss. In 2010 Ernst & Young wrote a confidential report about Property Finance. It states that Property Finance provided easy loans, causing problems in the real estate branch. Two years later, SNS Reaal is in direct need for economic support. Minister
An analysis of the organization and a strategy for the organization
Paper Public Relations & Reputation Management
13-05-2013
Abstract
The Dutch government nationalized SNS Reaal, a bank and insurance company, on February 1st this year due to the incapability to solve its financial and organizational issues. The nationalization generated a great deal of media attention, mainly in a negative sense. This operation caused SNS Reaal to suffer serious reputational damage. A staunch plan is needed to guide SNS Reaal through the months following this crisis in order to regain the trust of its stakeholders and rebuild its corporate image. Through case study research the situation at SNS Reaal is described, and its most important stakeholders are introduced. After that, the ideal reputational circumstances with regard to mission, vision and values supported by Cornelissen (2011) and other literature is presented. Then, a strategy that attempts to achieve the desired results is provided, discussing desired communication towards various stakeholders, communication channels and a timeframe to do so. Finally a mention towards possible evaluation methods is made.
Inhoud
Introduction
In this paper a case study concerning the Dutch bank SNS Reaal is presented. An unavoidable bankruptcy leads to the nationalization of SNS Reaal on the 1st of February this year (NRC, 2013). In the summer of 2006 SNS takes over an enterprise named Property Finance. With this take-over, they became the biggest Dutch financier of real estate. But Property Finance provides more problems than progress. In the second quarter of 2009 SNS Reaal suffers a great financial loss. In 2010 Ernst & Young wrote a confidential report about Property Finance. It states that Property Finance provided easy loans, causing problems in the real estate branch. Two years later, SNS Reaal is in direct need for economic support. Minister
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