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Review Mission/Vision and Current Strategy
Mission: Citibank offers different customer services to satisfy customers’ needs. Such as offer telephone hotlines, relationship managers who understood clients’ needs, and product consultants who provided service expertise. Also, build a single Web-enabled platform for all customers with similar needs.
Citibank’s vision was to become the world’s leading e-business enabler. Citibank’s Current strategy is E-business strategy (“connect, transform, and extend”) which was to Web-enable its core services, develop integrated solutions, and reach new markets. wedding dresses Corporate Resources/Capabilities Citibank has good reputation and services and the long history Citibank had helps it build its high position in the market.
High investment and strong technology support helps Citibank could invest and develop E-business faster than other company. Marketing & Sales Citibank had offer different products and services to serve different market segments. wedding gowns Citibank also was the one of leading banks that invested hundreds of millions of dollars to develop E-business. In order to satisfy customers’ needs and competitive in dot-com boom, Citibank had invested and develop in E-business this new market in 2000. According to the case, Citibank had cover 49 markets with more than US$12.5 trillion in assets under custody.
Finance In 2006, Citigroup’s income from its global corporate and investment banking activities was about US$7.127 billion. During 2005 to 2006, Citigroup’s revenue grew 8 percent; also, the operational expense grew about 15 percent. goddess wedding dresses In 2007, in order to save over US$10 billion over next 3 year, Citibank reduce its IT operations costs and cut 17,000 positions. In last quarter of 2007, Citigroup had a US$9.83 billion net loss because of a US$18.1 billion exposure to bad mortgage debt.
Research and Development Citibank had been invested hundreds of millions of dollars in the E-business. Cocktail Dresses Also, in order to satisfy customers’ different needs, Citibank offered many different kind services. Such as transaction services, corporate finance services and treasury market services.