This paper describes the competitive strategy of the Royal Bank in Canada.
Written in 2002; 1,410 words; 2 sources; MLA; $ 46.95
Paper Summary:
The paper studies how the Royal Bank has a long-term focus seeking to preserve and enhance economic, social and natural capital in order to improve the quality of people's lives and assure a continuing legacy for the future.
From the Paper:
"Each SBU endeavor comparative analysis of the performance of competing organizations, in terms of market position, rates of return, growth and market valuation. The Shareholder Value Model is used to develop shareholder return goals to assess the contributions of each SBU's to total Royal Bank market capitalization, and to set SBU value creation goals similar with corporate goals. From here the SBU managers examine the value of revenue growth, operating ratio margin/return and risk to ascertain how they will accomplish performance in the top quartile of their SBU peer group. Having distributed profit and loss accountability, in order to focus SBU's on value contribution, it become necessary to attribute capital funds to each SBU proportionate with risks assumed. This is a significant undertaking, which requires innovative thinking, and led to the use of a Risk-Weighted Capital Assignment. This requires managers to outline and gauge risk to ascertain changes in capital utilization and to estimate risk-return trade-offs when forming preferences about business mix and other decisions. The resulting assignment of capital becomes a key information to the calculation of shareholder value, and to the overall decision-making process.
Like many other major corporations, Royal Bank of Canada is keenly mindful of the battle to attract and employ high performing talent. In the long term, talent is perhaps the only sustainable competitive advantage, and as such, they are emphasizing on talent as a key strategic priority. Looking for an increasing capability in supervising and accepting continuing change with greater speed, collaborative team players can interact across all level of the organization, who are passionate about continuous learning and personal development. The Royal Bank has always valued customer-focused, relationship-oriented employees with strong business intelligence, and now quest to blend those attributes with many skills not traditionally associated with banking but including scientists, mathematicians and statisticians, database analysts, engineers, economists and website developers, to name a few. This approach to the business, emphasizing flexibility and innovation has enabled to highly customize transactions to suit unusual situations. By researching sectors on a global basis and through the global lending activities, Royal Bank of Canada are efficient to advise clients on both threats and opportunities to help them stay competitive on the cutting edge of innovation. They are also well positioned to analyze prospective strategic partners worldwide who have complementary operations. Royal Bank of Canada envisions a persisting expansion of new product and service offerings to exporters and importers. They also see a growing trend in partnerships, alliances and joint marketing programs on the part of banks, governments and service providers, in an attempt to influence a growing community of Small and Medium Enterprise exporters and importers."
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