Lloyds TSB Bank (stakeholders) Essay Example | Topics and Well Written Essays - 2000 words

Lloyds TSB Bank (stakeholders) - Essay Example The successful implementation of the Group's strategy is the responsibility of all 70,000 staff employed by the Group. It is their approach to making Lloyds TSB a high performing organisation that has enabled the Group to make such good progress in 2004 and which only they can ensure further progress over the next few years. The focus of Lloyd TSB on their customers has never come at the expense of other stakeholders. They claim that they are constantly striving to make Lloyds TSB a great place to work and a great investment opportunity for shareholders. For shareholders, Lloyds TSB delivered a total shareholder return (share price appreciation plus dividends) of 15 per cent during 2004, a significantly better performance than both the FTSE Bank Index and the FTSE 100 Index. So, 2004 has been a year of good progress for customers, staff and shareholders all of whom are linked by a common desire - the successful delivery of Lloyds TSB's business and financial strategies. (Banking business Review 2005) Lloyds TSB has a clearly articulated organic growth strategy that is focused on improving and deepening relationships with our personal and business customers. During 2004 this strategy has started to gain traction, with good progress being made in each of their business units. The successful delivery of profitable franchise growth has been central to the Group's return to positive earnings momentum during 2004. The building blocks of attracting, retaining and developing customer relationships in all areas of the business are the foundations of profitable franchise development and sustainable earnings growth. With this in mind Lloyds TSB has spent much of the last few years putting their customers at the heart of the strategy, ensuring that customer needs drive their business transformation. During 2004 they have continued to improve the product range, they have significantly enhanced their customer service levels, and have made clear progress in improving the Group's processing efficiency. As a result, customer satisfaction levels are higher than at any time during recent years and they are recruiting a higher number of quality customer relationships. (Banking business Review 2005) iii) The company also provides telephone and Internet banking services. Cheltenham & Gloucester (C&G), a subsidiary of Lloyds TSB, is the group's residential mortgage provider, selling its products through branches of C&G and Lloyds TSB Bank in England and Wales, as well as through telephone, Internet and postal services. The insurance and investments sector operates through Scottish Widows, the group's specialist provider of life assurance, pensions and investment products. These services are distributed through the Lloyds TSB branch network via independent financial advisers and directly via the telephone and the Internet. Insurance and inves

Societal Perception Of Foreign Business In Nigeria Dissertation - 1

Societal Perception Of Foreign Business In Nigeria - Dissertation Example Such permission can only be granted by the local communities like the Ogoni. The social perceptions towards the foreign companies operating in Nigeria deteriorated as communities became displaced and their resources forcefully are taken to accommodate the oil fields. The societal perceptions of the oil-led development in many countries have many consequences. Some of these consequences include slow growth, inequality, and unemployment. Countries that depend on oil production are characterized by poor governance, high rates of corruption and high instances of conflict. This has added to the notion that foreign companies are exploitive and unfriendly. Norway has used the benefits of North Sea petroleum to develop its economy. Nigeria and Angola have been suffering from poor management of the same resource. In Nigeria, the disparity between poverty and oil wealth is notable (Parker 2006). The same trend has been observed in Venezuela. Foreign companies like Shell-BP for partnerships with domestic elites with an aim of protecting their interests. The multinational has been blamed for the inequalities created by the oil-led development. In the Niger Delta region, exploration began in 1958. The compensation of the land acquisition in the delta region has aided only a small group of people (Apter 2005). The environment and the local economy remain devastated. Gas flaring has permanently destroyed food crops and the only source of livelihoods for the local communities (Parker 2006). Barren farmlands and destruction of drinking water have created tensions between the local communities and the foreign mining companies. Thousands of villagers have been killed through explosions and raptures.