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Swot Analysis Of Stanbic Bank

1356 Words6 Pages

Stanbic Bank Zambia Limited (Stanbic) implicitly champions a culture of innovation based on its mission statements and vision that outlines that by their employees being inspired, motivated and involved they will move the bank forward in an innovative manner in the various endeavors that the bank is involved in across the group. Due to the banks structure being hierarchical in nature its innovative culture is influenced or rather impeded by the operational characteristics of a hierarchical organization that tends to lean towards a high degree of predictability in its operations, is very control focused resulting in rigidity and tends to lean more towards stability rather than risk taking in terms of embarking on ground breaking ventures (Martins …show more content…

The bank will have to deliberately create a culture of innovation so that it becomes embedded in the employees natural routine for approaching and finding solutions. Strengths & Weaknesses of Stanbic Bank Culture Impacting Innovation Stanbic bank’s organizational culture has aspects that in some instances positively encourages the active pursuit of innovative solutions in the various business domains by both business units and individual employees. Paradoxically in other instances the same culture has an unintentional detrimental impact in that it discourages the active pursuit of innovative initiatives at certain levels and under certain circumstances that are perceived to impinge on budget, time and cost in an adverse manner from a financial perspective. The strong values within Stanbic Bank that promote and emphasize collaboration and support within and between the various distinct business units at all levels and stages have had a positive impact in promoting innovation (Dixit & Nanda, 2011). Innovation at the bank tends to most strongly manifest itself in areas such as sales and marketing, customer service and experience, processes, channels and …show more content…

References: da Cunha, J. V., & W. J. Orlikowski, (2008) ‘Performing Catharsis: The Use ofOnline Discussion Forums in Organizational Change’, Information andOrganization, 18 (2) pp.132-156 Dixit, G. K., & Nanda, T. (2011). Strategic Alignment of Organizational Culture and Climate for Stimulating Innovation in SMEs. International Journal of Innovation, Management and Technology, 2(1), 77-85. Gumusluoglu, L., & A. Ilsev, (2009) ‘Transformational Leadership, Creativity,and Organisational Innovation’, Journal of Business Research, 62 (4) pp.461-473 Luu, T. T., & Venkatesh, S. (2010). Organizational culture and technological innovation adoption in private hospitals. International Business Research, 3(3), p144. Retrieved from http://www.ccsenet.org/journal/index.php/ibr/article/download/5614/6864 . Martins, E. C., & F. Terblanche, (2003) ‘Building Organisational Culture that Stimulates Creativity and Innovation’, European Journal of Innovation Management, 6 (1)

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