QUESTION 2: Identify at least Three (3) main characteristics of a marketing-oriented organization of Citibank case study and provide an example for each characteristic.
Marketing-Oriented Organisation main feature is that to be as closer to the customers as possible and always one step ahead from the competitor. This situation happened because of these organizations basic aim is to attract the customers to their organizations. There are four main characteristics that define the marketing-oriented organizations including shared values, organization, strategy and stakeholders. Firstly, all decisions of these companies consider the customers first and they share the common value of superior quality of the products, secondly, their organizational structure has very few layers and their policies are not very difficult. Thirdly, the strategy of a market oriented organizations is long term, flexible and participative. Finally, they consider the expectations of the stakeholders before making any important decisions.
In the case Citibank, the company was built to create a highly diversified financial services company that could act as one to deliver solutions to client, Citibank has variety of brands with diverse array of products and the greatest distribution capacity. In fact, Citibank has certain characteristics of a market orientated organizations in their business functions. Firstly, Citibank sees the needs of customers as vital by identifying and delivering them in just one-stop shop. Citibank is considered as the first true “global financial supermarket” that provides all products and services in financial market from checking accounts to mergers and acquisitions, from credit cards to cash management, from leveraged finance to life insurance. Citibank had interacted well with all customers, understood all products and services the customers need. Annually, Citibank issue the Citi's Global Transaction Services Client Casebook with hundred pages of case studies gathered from across the globe, this is a testimony to the innovative spirit of the company clients. Also, Citibank had analysed and provides optimal solutions to satisfy customers' requirement and sought customer feedback to improve products and services provide in all the segments of the group, from accelerating cash inflow, risk mitigation and supply chain optimization, to partnering for productivity with clients, from improving cash outflow to enabling effective interaction with capital markets. Citibank also had implemented system to record customer feedback and communicate ideas at all branches and offices
Secondly, Citibank brings together that incredible diversity of products and services in multiple distribution channels. Citibank who has a global orientation, are organised into five groups which are Global Banking, Global Markets, Citi Capital Advisors, Citi Investment Research & Analysis and Global Transaction Services. This structure enables them to leverage their product breadth and geographic scope. In deep local roots in every market where they operate, their workforces are coordinated inter-functional by sharing the information across departments. Furthermore, in order to ensure that Citibank can focus more on the company’s core business, Citibank had proposed the realignment which makes the company to be comprised of two main businesses which is Citi Corp and Citi Holdings. In January 2009, given the economic and market environment, Citibank announced the acceleration of the implementation of the company strategy to focus on its core businesses. As a result of its proposed realignment, Citibank will be comprised of two businesses which known as Citicorp and Citi Holdings. Citibank believes that the realignment will optimized the company global businesses for future profitable growth and opportunities and will assist in the company ongoing efforts to reduce the company balance sheet and simplify the company organization. Citibank plan is to...
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