EFG Eurobank Corporate Strategy Essay Example | Topics and Well Written Essays - 3500 words

EFG Eurobank Corporate Strategy - Essay Example More recently, strategy implementation has been heralded as the key to corporate strategic success (Ulijn and Amant, 2000). However, corporate strategy regardless of how elegantly conceived, how comprehensive its scope, or how forward-looking its thrust, does not provide competitive advantage until it is communicated, understood, valued and acted upon by a variety of key corporate stakeholders. Employees must understand, accept and internalise corporate strategy if the strategic blueprint is to be transformed into positive strategic results. Suppliers, strategic partners and customers must have a basic understanding and appreciation of the firm's strategic direction if these stakeholder relationships are to flourish and be productive. The financial community must be aware of a company's strategic intentions in order to properly evaluate a firm's current value and prospects for the future. Only when the corporate strategy message is communicated in a clear, concise, timely and persuasive manner to key corporate stakeholders does the firm have an opportunity to achieve competitive advantage. This paper will serve as an explanation of what Corporate Strategy meant. ... EFG Eurobank Ergasias was first established in 1990 as Euromerchant Bank. With 8 billion market capitalisation and 1.9 billion share capital at the end of 2004, the EFG Eurobank Ergasias Group currently offers a full range of banking products and services aimed at individuals, corporations and institutions. The Bank has built up leading market positions in a number of areas, in particular in the high margin, high growth segments, which form the key focus of its activities. EFG Eurobank Ergasias is Greece's leading provider of consumer loans and credit cards, lending to small and medium sized enterprises and mutual fund management. Moreover, it has a significant presence in corporate banking and holds the leading position both in investment banking, through EFG Telesis Finance, and in capital markets, through EFG Eurobank Securities, while it also has a strong comparative advantage in the field of private banking. Employing over 13,700 people, both in Greece and abroad, with a local distribution network of over 300 branches, 700 ATMs and alternative distribution channels, including phone banking, electronic banking and mobile banking, the Bank achieves countrywide distribution and service capability and the integrated coverage of the needs of its customers. The Bank also develops its presence in the wider geographical area. Access to European markets is facilitated through the strategic alliance with Geneva-based EFG Group. The Target of EFG Eurobank was to become the Bank of first choice in Greece, focusing on quality, innovation and comprehensive services; and To develop its presence in the wider area of Southeastern Europe, exporting its successful local business model. In terms of its ownership,