LLOYDS GROUP

Lloyds Group

Executive Summary

This paper investigates Lloyd's group of organization producing the same principal product/service or more broadly the group of organizations producing products/services that are a close substitute for each other and the case study relayed to the organizational analysis and the benefits of the organization.

Table of Content

EXECUTIVE SUMMARYII

INTRODUCTION TO THE INDUSTRY AND THE ORGANIZATION1

ACADEMIC LITERATURE1

Management Style3

The types of ICT used in the Business4

How ICT Has Affected The Company5

Quality Assurance and Control Systems6

METHODOLOGY7

Primary Research7

Data8

Sample9

ORGANIZATIONAL ANALYSIS9

BENEFITS TO THE ORGANIZATION11

CONCLUSIONS AND RECOMMENDATIONS14

REFERENCES17

APPENDICES20

Introduction to the Industry and the Organization

The origins of Lloyds Bank stretch back to 1765, when John Taylor and Sampson Lloyd set up a private banking business in Birmingham, England. Their sons took the same steps by establishing a bank in London's Lombard Street called Barnetts Hoares Hanbury and Lloyd and eventually the two sons decided the Banks' name was too long for the average person and after some long discussions, they have decided to rename the company the Lloyds Bank.

Over the years, Lloyds Bank expanded through a series of mergers, including the merge with Abbey Life Insurance Company which saw the creation of Lloyds Abbey Life in 1988.

By the early 1990s, Lloyds Bank had offices in 30 countries, from Argentina to the USA. On the 1st of August 1995, Cheltenham & Gloucester (C&G) joined the Lloyds Bank Group. Later the same year, on 28 December, Lloyds Bank Group merged with TSB Group to form Lloyds TSB Group plc, one of the largest forces in domestic banking.

Academic Literature

The Lloyds TSB is a large business, it has a tall management structure. There is a chairman at the top followed by a long chain of command between her and the cashiers. The chairman works at the head office along with some essential experts that she needs assistance from in making important decisions. They help her with keeping the Company's image as it is, if not better and they also inform her about activities within the local branches. From this head office the chairman and the other executives calculate the profit or loss the company has made and every day liabilities through their accounts department. (Buchanan, 2004, 75)

Every branch has a branch manager and it is through to this manager that new strategies concerning the company's future are passed down from the chairman and the other executives who run the head office. The branch managers than impressively but informally pass on bits and parts of the new strategies onto their very well skilled labour force who then in turn compensate the managers' trust by producing a work place which is very volatile and takes much of my admiration as it is run in a kindly, formally and very skilled manner. (Burnes, 2006, 11)

Every branch has its own human resources officers who employ staff or scout possible future executives from other nationwide society buildings or well known banks in order to keep the company's image with the public highly respectable. Throughout the year the human resources officers send most of the staff to local ...