Strategic Management

Description

PART A: Individual Coursework assignment of a maximum of 4,000 words (75% of overall grade)
Background

Assume you are a strategy consultant working on a contract for a large multinational retail bank (“The Bank”) based in Western Europe. Management at The Bank have become aware of the growing interest in cryptocurrencies and the blockchain technology that underpins them. Specifically, they are interested in the potential for cryptocurrencies, namely; permissionless
coins (e.g. Bitcoin), permissioned coins (e.g. JP Morgan’s JPM Coin which was launched in Q1 2019) and central bank digital currencies or CBDC’s, which have been proposed by The Bank of England in 2018.

In your strategic consultancy role your client, (The Bank), tasks you with strategically reviewing the future of digital currencies (see the Bitcoin Case Study (BM6001 SM CW Case Study 19AUT – Bitcoin)* and the impact that would have upon The Bank if it were to occur.

Required
Please research, analyse, evaluate, devise and submit a 4,000 word strategic plan for The Bank to strategically respond to the changing nature of digital payments and monetary systems in the new FinTech enabled global economy.

The strategic plan should cover the following points:

 Update the information within the 2014 Case Study through to the present day using secondary research.
– for example, Banned in some countries and new cryptocurrencies launched like the facebook coin…

 Identify and evaluate the key drivers of change in the macro environment with respect to the future of money for The Bank using the PEST(EL) model and how they interact with the competencies and resources of new forms of money using a SWOT.
– PESTEL relate to banking and cryptocurrencies, then pros and cons
– you are strategic consultant advising the bank, for SWOT analysis relate it to internal strengths and weaknesses of the bank and how they relate to the external opportunities and threats for the bank

 Using Porter’s 5 Forces Model critically analyse the global digital payments industry and evaluate the relative desirability of the industry for companies such as “The Bank” to operate in this space.
– explain PORTERS 5 FORCES model and analyse pros and cons and adapt the model for example add a 6th force or eliminate a force

 Critically analyse the stakeholders of new forms of money using a mapping technique and evaluate the stability of their current positions.
– Use Mendelow Stakeholder Mapping model, analyse pros and cons

 Develop and strategically evaluate the likely future scenarios for the future of money and digital payments on a global basis.
– Use Porter’s Diamond, pros and cons

 Discuss whether the medium to long-term future of the digital payments industry, and therefore the future of such new forms of money, are sustainable in their current structure. What changes may occur going forward and how might The Bank respond now to be best placed to prosper going forward? Consider using scenario analysis techniques here.

* Please access and read carefully the Bitcoin Case Study (BM6001 SM CW Case Study 19AUT – Bitcoin), which is attached

Please be advised that you are expected to apply a wide range of appropriate strategic analysis and decision making tools, models and theories, (in addition to those suggested above), to the data found within the case study and to newly sourced secondary data/information.

Research and analysis should be used to support your critical arguments and rigorously justify their proposed strategic plans.

Your research must be fully referenced in your coursework using the Harvard system.

PLEASE ONLY USE ACADEMIC SOURCES, SOURCES FROM JOURNAL ARTICLES, UP TO DATE RESEARCH AND TRUSTWORTHY WEBSITES, MINIMUM 40 REFERENCES ARE REQUIRED OR MORE!
PLEASE DO NOT USE REFERENCES FROM ESSAY WEBSITES!
PLEASE SEE ADDITIONAL FILES FOR CASE STUDY
PLEASE BARE IN MIND THIS IS MY FINAL YEAR PLEASE WRITE A QUALITY PAPER

PLEASE USE THIS READING LIST ASWELL:

1. https://rl.talis.com/3/pearsoncollege/items/4D84783E-1898-1BFE-D23C-EB982F4467B6.html?embed=1

2. https://rl.talis.com/3/pearsoncollege/items/E24E0C61-DC0B-7DB8-0431-0B0B27EF168B.html?embed=1

3. https://rl.talis.com/3/pearsoncollege/items/800A41D5-761B-5EEB-C492-A021E597C439.html?embed=1

4. https://rl.talis.com/3/pearsoncollege/items/3FA6873B-19CF-8657-7604-80F7A66730E7.html?embed=1

5. https://rl.talis.com/3/pearsoncollege/items/858BBFB5-6B8E-853D-5E29-B09F1F2C4E42.html?embed=1

6. https://rl.talis.com/3/pearsoncollege/items/0B0471E0-E2F3-6BC6-B6DC-2A2907D9EAEC.html?embed=1

7. https://rl.talis.com/3/pearsoncollege/items/2CF73862-55CA-6C5A-E26D-C9570B91FB34.html?embed=1

8. https://rl.talis.com/3/pearsoncollege/items/BEA1AFFA-5418-E6F5-529D-36EB80E50779.html?embed=1

9. https://rl.talis.com/3/pearsoncollege/items/05611981-9E1B-68C7-4EA1-F3BF4D6853A7.html?embed=1

10. https://rl.talis.com/3/pearsoncollege/items/86C2FDB1-C46A-45E3-4E5B-A52E9EEE0654.html?embed=1