Lcb Case Study

Topics: Management, Bank, Central bank Pages: 11 (4011 words) Published: December 26, 2011

Since the beginning of 2001, the Lebanese Canadian Bank has worked on strengthening its position in the banking sector by adopting an ambitious five-year business plan aimed at increasing its market share and the volume of its banking activities as well as at improving its net results.

This ambitious strategy was intended to position the Bank among the “Top Ten Banks” operating in Lebanon and this was actually achieved. LCB management took this initiative and monitored its implementation from 2001 through 2007, which contributed to a consistent growth of its total assets from:| LEBANESE CANADIAN BANKThe Lebanese Canadian Bank (LCB) boasts an extraordinarily long list of CSR initiatives. Having been forced to work around the unpredictable political climate of Lebanon, the bank has discovered that the best way to make the most of circumstances it cannot control is to plan its initiatives year by year, remaining flexible and ready to adapt to any unforeseen change.  “Every year we have something different; we open new opportunities, we make new plans because in Lebanon, you cannot predict what is going to happen. Year after year we base our CSR on the issues and concern of the Lebanese people and environment. We consistently take into consideration everything that’s around us, and out of that, make new strategies, new programs,” explained Elie Azar, Corporate Communications Manager at LCB.  The bank has been involved with various CSR programs covering a broad spectrum of regional issues and concerns, including road safety, prevention of drug use, and providing Christmas gifts to underprivileged families. LCB has invested in several health initiatives, financing a dental clinic and an AIDS treatment facility, providing medications for patients with AIDS who need assistance, and supporting the rehabilitation of mentally disabled young adults. Additionally, LCB has worked in collaboration with the US, Canadian, and Emirati embassies, along with the UN for the demining of cluster bombs in southern Lebanon. The bank also works closely with the Ministry of the Interior to plant trees all across Lebanon and has worked with UNDP to establish libraries equipped with computers in the Chouf. Also with UNDP — as well as IMF, IFC, and the World Bank — LCB coordinated the Middle East and North Africa Development Forum (MDF5), a big event dedicated to empowering civil society and expanding the scope of economic and social policy issues in the MENA region.  Perhaps the most important CSR initiatives for the Lebanese Canadian Bank are those involving youth. “We want to be a youth-savvy bank. We believe that the youth are the future of Lebanon, and also our future clients. Out of our annual CSR budget, which is more than 30-40 % of our global communications budget, we want to dedicate 40-50 % to youth initiatives,” Azar pointed out. “We are part of an industry; we want to invest in initiatives that promote the future of our business.”Home > Credit Resources > Human Resources Management > Three Effective Management StylesIs Your Management Style Effective?When it comes to management, half the battle is knowing when to use the right management style. Some styles tend to focus on people, while others gravitate toward a specific project or product. The management style that ends up working in a particular situation depends on your people skills, knowledge, resources available to you, and the results you’d like to achieve.It’s important to choose the right management style for each situation. Without styles that align with certain circumstances, you may find your business moving more slowly and making costly mistakes.The following management styles may be effective in getting your people to do their best work:1. Participatory Style.Managers using this style give employees tasks to complete from start to finish. For projects in which that is not possible, managers must...
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