lloyd bank 2

8/3/2019 Lloyd Bank 2

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Lloyd bank plc was operated in England and Wales as a British retailbank and some in Scotland. It was operated in 1765 and shifted

into Lloyds TSB in 1995.

A history of Lloyds Bank

In Dale End, Birmingham at 1765, there were two men, named John

Taylor and iron producer and dealer Sampson Lloyd II, set up aprivate banking business which helps for launching of Lloyd bank.

In 1864, six miles (10 km) west of Birmingham, in Old Bury, thefirst branch office opened. Taylors and Lloyds symbol to represent

industry and hard work. From 1677, the black horse device dates,

when Humphrey Stokes adopted it as sign for his shop. In theearly stage, the banker was called keeper. And obviously Stokes

was a goldsmith. In 1884, the bank took the responsibility andmade the black horse as their symbol. It is a private bank and

converted into joint stock Company known as Lloyds Banking

Company Ltd. in 1865, becoming Lloyds, Barnetts andBosenquets Bank Ltd. in 1884 and finally Lloyds Bank Limited in

1889.

There is no connection in origin between Lloyds Bank (no apostrophe)and Lloyd's of London, Lloyd's Register or Lloyd's List.

In 1968, the public interest was failed by the Monopolies and Mergercommission for attempting to shift with Barclays Bank and

Martins.

Martins finally acquired by Barclays in the following year. In 1972, theJoint Credit Card Company launched the Access credit card (now

MasterCard) and it also introduced Booth to receive money. Itwas the first online cash machine to use plastic cards with a

magnetic stripe. Lloyds Bank was a founder member of the Joint

Credit Card Company (with National Westminster Bank, MidlandBank and the Royal Bank of Scotland). Two sons of the original

partners also establishing a bankBarnetts, Hoares, Han buryand Lloydin Lombard Street, London. Next its become the ruler

of Lloyds Banking Company.


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To join with the Lloyds Bank Gloucester Building society gives it a largeposition in the UK mortgage lending market. In 1995, Lloyds Bank

merged with the Trustee Savings Bank (TSB Group). It was thelargest bank in the UK for share and second-largest to Midland

(now HSBC) Bank by market capitalization. The Revd. Henry

Duncan of Ruth well, Dumfries shire in 1810 founded the TSB.The three Scottish branches were absorbed into TSB Scotland,. In

1991, Allied Irish Banks becoming First Trust Bank bought TSBNorthern Ireland. First Trust Bank inherited the right of AIB to

issue its own banknotes; savings banks never had this right in

either Northern Ireland or Scotland. In 1996, Lloyds Abbey Lifebecame a wholly-owned subsidiary of Lloyds TSB Group.

Services:

The bank offers a full range of banking and financial services. Lloyds

TSB Offshore Limited operates branches in Jersey and the Isle of

Man while Lloyds TSB Bank (Gibraltar) Limited operates in

Gibraltar, both trade as Lloyds TSB International.

Lloyds TSB is authorized and regulated by the Financial Services

Authority, a member of the Financial Ombudsman Service, the

Financial Services Compensation Scheme, and the Association for

Payment Clearing Services and of the British Bankers' Association; it

subscribes to the Banking Code and Business Banking Code. The bank

uses the following series of sorting codes:

Range Note

30 to 39former Lloyds

branches

77-00 to 77-44

77-46 to 77-99former TSB branches

87 Lloyds TSB Scotland


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In England and Wales Lloyds TSB Bank provide mortgages and these

are administered by Cheltenham & Gloucester Plc; Cheltenham &

Gloucester and Lloyds TSB Scotland are members of the Council

of Mortgage Lenders. C&G savings are actually investments in

Lloyds TSB Bank. In 2009 it was announced that Lloyds TSB

Scotland including additional branches of Lloyds TSB in England

and Wales are to be divested by Lloyds Banking Group under the

Trustee Savings Bank brand, together with branches (although

not the name) of Cheltenham & Gloucester. It takes four years to

complete the process.

To handle disadvantage across England and Wales the Lloyds TSB

Foundation funds local, regional and national charities working.

There are separate Foundations covering Scotland, Northern

Ireland and the Channel Islands.

For the futureThe applied Lloyd banking system made losses. In order to rise from

the losses Revolutionary project has to be under taken. It will be able

to take the bank to greater heights than before. For changing

management the company needs to undertake a long and exhausting

yet rewarding project. This will bring new dimensions to the company

and also take the to newer and profitable levels in the market. The

successful implementation of the project ensures that the brand image

of the company will soar to unforeseen heights. It is followed the

Adkar model to implement change management.


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It has been for a while to change management but become extremely

very popular with organizations or corporations that would like to

initiate significant change to processes that can include both work

tasks and culture.

It can be used a common definition for changing management. that is

a set of processesthat is employed to ensure that significant changes

are implemented in an orderly, controlled and systematic fashion to

effect organizational change. One of the goals of change management

is to achieve the organization's goal of an orderly and effective

transformation.

It has been taken into consideration boththe processes and tools that

managers use to make changes at an organizational level by

Organizational Change Management. In that case most wanted the

greater profit than the previous loss system. For this reason it is

needed to have a structural approach sothat transition from one type

of behavior to another organization wide will be smooth.

Management's Role in the Organizational Change

The first responsibility of management's In most cases, is to identify

processes or behaviors that are not proficient and come up with new

behaviors, processes, etc that are more effective within an

organization. When the changes are identified it is important for

managers to estimate the impact that they will have to the

organization and individual employee on many levels including

technology, employee behavior, work processes, etc.

In that case management should focus the employees reaction to an

implemented change and try to understand the reaction to it. In that


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sense change can be highly profitable with lots of positives however

certain changes do sometimes produce a magnificent amount of

barrier. It is the job of management to help support workers through

the process of these changes, which are at times very difficult. the

final result is that management must help employees accept change

and help them become well adjusted and effective once these changes

have been implemented.

The Importance of Buy In

It is necessary for an individual or organization to achieve change

effectively that individuals in the organization that will need to make

modifications to their attitude exhibit buy in. it means that as a whole

the organization get the changes that need to be made are ultimately

profitable to both the individual and the organization . In addition,

each individual and the organization as a whole will have to work hard

to make the necessary behavior modifications. If it is bad or are not

received positively by an organization then if it tries to make changes

it will be much more difficult to implement these changes without

significant barrier.

One can raise buy in by first explaining the changes one would like to

make, citing issues with current procedures and then communicating

the benefits for both the individual and organization.

ADKARis a model that is goal-oriented change management. It allows

change management teams to light their activities on specific business

results. The thing was initially used as a tool for focusing if change

management activities like communications and training were having


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the desired results during organizational change. The model has its

origins in sequencing traditional change management activities to a

given result or goal.

It is necessary to have awareness for the business reasons to change

the goals of early communications related to a business change. It is

desired to engage and participate in the change is the goal of

sponsorship and resistance management. Knowledge about how to

change is the goal of training and coaching. ADKAR becomes a useful

framework for change management teams in the planning and

execution of their work. They identify the required outcomes or goals

of change management.

The objectives or outcomes defined by ADKAR are sequential and

logical. It is obtained by an individual in sequence in order for a

change to be implemented and sustained.

As a manager, you can use this model to identify gaps in your change

management process and to provide effective coaching for your

employees. The ADKAR model can be used to:

diagnose employee resistance to change

help employees transition through the change process

create a successful action plan for personal and professional

advancement during change

develop a change management plan for your employees

develop a change management plan for your employees

The ADKAR model has the ability to identify why changes are not

working and help you take the necessary steps to make the change


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successful. You will be able to break down the change into parts,

understand where the change is failing and address that impact point.

To use the ADKAR model effectively, you will need to understand the

underlying framework for change initiatives. In the diagram below,

change happens on two dimensions: the business dimension (vertical

axis) and the people dimension (horizontal axis). Successful change

happens when both dimensions of change occur simultaneously.

Business dimension of change

The business dimension of change includes the typical project

elements.

Business need or opportunity is identified. Project is defined (scope and objectives).

Business solution is designed (new processes, systems and

organizational structure).

New processes and systems are developed.


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Solution is implemented into the organization.

These are the standard elements of a business change that managers

feel most comfortable managing.

People dimension of change

Research shows that project failures are the main reason for creating

problems with the people dimension of changing. In a study with 248

companies, effective change management with employees was listed

as one of the top-three overall success factors for the project. Helping

managers be effective sponsors of change was considered the most

critical success factor overall.

Effective management of the people dimension of change requires

managing five key goals that form the basis of the ADKAR model:

Awareness of the need to change

Desire to participate and support the change

Knowledge of how to change (and what the change looks like)

Ability to implement the change on a day-to-da basis

Reinforcement to keep the change in place

The strategy to bring about change

It is needed to implement a revolutionary change management

strategy of Lloyd banking which will ensure that the bank is back again

as one of the leading ones in its areas for years to come. Lloyd take

this action by keeping the assumption of the economic upturn in 2010

in mind. They need to rebuild the brand image that they once had and


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reinstall the belief in the minds of their customers that they are not

only dependable but also among the very best in their sector.

The whole change management project has to be undertaken by a

group of employees who will be appointed to certain roles of

administrative project. The change management team will be given

the administration of the entire project and members of the project

will be given priority with respect to their positions. The positions of

the members of the groups can be appointed with respect to their

years of experience in the company. The members of the project will

have to be specialized in the change management models and theories

so that they can successfully implement them in real life.

It is needed to go through training programs which will give the vital

information necessary to carry out such a project.

However unison is something that is essentials for others. The people

whose are not under the major and lower administrative posts not be

able to motivate their employees to stay united in the course of thechanges that will be needed in order to return to the top as well as

carry out this strategy.

The first important strategy is to identify the major locations in which

the bank plans to carry out its change operations initially. The bank

needs to have a initiative to grow as a result they need to expand

further into previously untouched areas. The basic principle of

selection of these places will be to target small and medium sizedbusinesses in various parts all over England. the main reason is that

these are the banks will require loans more than the established big

businesses and so the bank would be able to form profitable deals with

these more than others.


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There is a major issue and that is interest rate. bank will charge rates

which are slightly lower than the average in order to capture as much

of this segment of the market as possible, especially if any one wants

to open the small and medium sized businesses they have to keep in

mind that will not be able to afford loans with exorbitant rates. At that

same time if the bank manages to convey its lower rates to as many of

these business ventures as possible they will be able to catch a large

portion of this market and thus earn large profits themselves on a long

term basis.

It is needed to give out new plans by the change management teams

for the lending managers and the corporate service advisory providers

the meticulous task of seeking out the small and medium sized

businesses ventures in the UK. They have to find out such businesses

which will fulfill their individual target. The ones they will target will

have to have the financial strengths to repay the loans along with the

interest rates. The team will have to convince these ventures using thebrand image of the company and the reliable offer of a lucrative

venture with them. They can use the latest marketing tools and

branding strategies to implement their plans of attracting such

businesses.

The major tasks of servicing them come when this pool of business has

been attracted. It have been ensured by the lenders and corporateservice providers that they live up to their promises of low interest

rates along with a consistency of the time period in which they supply

the loans. To ensure the brand image of the bank they have to make

exemplary service to their customers as they can differentiated from


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other competitors in terms of reliability and other services as

promised. Encompass a total change in the company from a holistic

approach is the last phase of the strategy. What we must derive from

the AKDAR model of change is that change occurs first from an

individual level. The prime responsibility of the change management

team is to motivate their employees to embrace this change and not to

resist it which is usually the expected reaction of change. This is

because there maybe an awareness of change but the desire also has

to be there in the minds of the workers in order to carry this out.

To carry out this revolutionary strategy necessary knowledge is

required. That is why the change management team has to be trained

in accordance so that they can implement all the theoretical aspects

successfully. Otherwise what would happen is that the plan would be

implemented in a disorganized manner and the change would not be

sustained

Lastly what is important is the change to be sustained. For this whathas to be done is that the employees have to be motivated in order for

them to believe that the change which is occurring is for the good of

the company as a whole so that their prestige in working for it also

increases and as a result so does their loyalty towards the company. If

this happens then the employees will be dedicated to the company and

embrace any change or difference which occurs in the company


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References

Change Management. Wikipedia. 2008.

Lloyds Bank. Wikipedia. 2008.

Lloyds Bank TBS. Wikipedia. 2008.

Lloyds Bank: The Official Website.
http://en.wikipedia.org/wiki/Change_Managementhttp://en.wikipedia.org/wiki/Lloyds_Bankhttp://en.wikipedia.org/wiki/Lloyds_Bank_TBShttp://www.lloydsbankinggroup.com/home.asphttp://en.wikipedia.org/wiki/Change_Managementhttp://en.wikipedia.org/wiki/Lloyds_Bankhttp://en.wikipedia.org/wiki/Lloyds_Bank_TBShttp://www.lloydsbankinggroup.com/home.asp

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