MNG3701
ASSESSMENT 1
Introduction
Using Standard Bank of South Africa`s Integrated Report for 2023 as a case study we
look into the process of Strategic Management. Mission and vision statements will be
evaluated and discuss what makes these good. We will also be looking deeper into
Balanced Score card formulation.
Question1
Sustainable Development Goals Standard Bank is trying to achieve.
SDG 7 - Affordable and Clean Energy
Standard Bank drives renewable energy projects in South Africa through financial
investment.
For example, they assist with funding projects for solar energy in communities that have
limited access to electricity.
SDG 8 – Decent work and economic growth
Standard Bank supports policies that focus on encouraging activities that help people
create jobs, start businesses, and be innovative.
Example: Helping small and medium-sized businesses (SMEs) with financial support to
boost economic growth.
SDG 9 – Industry, Innovation and Infrastructure
Standard Bank makes it easier for small and medium-sized businesses (SMEs) to get
financial help, like affordable loans, and connects them to bigger markets and supply
chains.
For example, Standard Bank helped 893 enterprise development participants,
maintained 3508 jobs, and created 2170 new jobs.
SDG 11 Sustainable cities and communities
Standard Bank helps to assist people in having access to safe, affordable housing and
basic services, as well as work to improve slums.
, For example, they provided R2.6 billion in loans to 4,659 new customers for affordable
housing mortgages, bringing our total affordable housing loan portfolio to R32.6 billion.
SDG 13 - Climate Action
Standard Bank is committed to helping all countries become better at handling climate-
related risks and natural disasters.
For example, they support environmentally friendly projects and assist in implementing
green banking practices.
Question 2
Standard Bank's short-term targets:
Specific
The short-term target is clearly stated, whether it is retaining skilled workforces or
maturing their risk management.
Measurable
The progress or the improvement should be quantifiable; for instance, retaining the
workforce can be measured using an HR system.
Achievable
Targets must be reachable and realistic to achieve within the given timeframe, like
developing key talent within the company.
Realistic
The short-term target should align with Standard Bank's overall objectives, such as
improving customer satisfaction.
Time
Having a specific timeframe for deadlines, like achieving a cost-to-income ratio
approaching 55% by 2025.
Standard Bank's medium targets:
Specific
The long-term target set by Standard bank must be clear for example, creating a work
environment that is inclusive and diverse.
Measurable
A quantifiable metric can be used to determine the work environment using
questionnaires and HR software.
Achievable
The target set by Standard Bank must be feasible taking economic factors into
consideration, like wanting to grow their franchise.
ASSESSMENT 1
Introduction
Using Standard Bank of South Africa`s Integrated Report for 2023 as a case study we
look into the process of Strategic Management. Mission and vision statements will be
evaluated and discuss what makes these good. We will also be looking deeper into
Balanced Score card formulation.
Question1
Sustainable Development Goals Standard Bank is trying to achieve.
SDG 7 - Affordable and Clean Energy
Standard Bank drives renewable energy projects in South Africa through financial
investment.
For example, they assist with funding projects for solar energy in communities that have
limited access to electricity.
SDG 8 – Decent work and economic growth
Standard Bank supports policies that focus on encouraging activities that help people
create jobs, start businesses, and be innovative.
Example: Helping small and medium-sized businesses (SMEs) with financial support to
boost economic growth.
SDG 9 – Industry, Innovation and Infrastructure
Standard Bank makes it easier for small and medium-sized businesses (SMEs) to get
financial help, like affordable loans, and connects them to bigger markets and supply
chains.
For example, Standard Bank helped 893 enterprise development participants,
maintained 3508 jobs, and created 2170 new jobs.
SDG 11 Sustainable cities and communities
Standard Bank helps to assist people in having access to safe, affordable housing and
basic services, as well as work to improve slums.
, For example, they provided R2.6 billion in loans to 4,659 new customers for affordable
housing mortgages, bringing our total affordable housing loan portfolio to R32.6 billion.
SDG 13 - Climate Action
Standard Bank is committed to helping all countries become better at handling climate-
related risks and natural disasters.
For example, they support environmentally friendly projects and assist in implementing
green banking practices.
Question 2
Standard Bank's short-term targets:
Specific
The short-term target is clearly stated, whether it is retaining skilled workforces or
maturing their risk management.
Measurable
The progress or the improvement should be quantifiable; for instance, retaining the
workforce can be measured using an HR system.
Achievable
Targets must be reachable and realistic to achieve within the given timeframe, like
developing key talent within the company.
Realistic
The short-term target should align with Standard Bank's overall objectives, such as
improving customer satisfaction.
Time
Having a specific timeframe for deadlines, like achieving a cost-to-income ratio
approaching 55% by 2025.
Standard Bank's medium targets:
Specific
The long-term target set by Standard bank must be clear for example, creating a work
environment that is inclusive and diverse.
Measurable
A quantifiable metric can be used to determine the work environment using
questionnaires and HR software.
Achievable
The target set by Standard Bank must be feasible taking economic factors into
consideration, like wanting to grow their franchise.
