Citizens bank Essay Example | Topics and Well Written Essays - 1250 words

Citizens bank - Essay Example The researcher states that the strategic problem that the Citizens bank is facing is followed by an important tactical problem: up to then, in 2004, the organization has used acquisitions as a tool for promoting growth. Acquisitions, as developed through the years, led, necessarily, to the radical transformation of organizational structure: in 1992 the employees of the organization were estimated to just 1,300 while in 2004 the firm’s staff reached the ‘24,000 people across the  USA’. It was at this point that the tactic of the organization to proceed to acquisitions led to concerns. Larry Fish, the CEO of the firm identified the particular issue; it was clear that for the future the terms of acquisitions in which the organization would proceed should change. At the same time, Fish had to face another problem: Citizens Group was no more a bank of average size; it has become a major competitor in the US banking industry. Thus, the practices used up to then for se curing the firm’s image in the market should be reviewed. It has become clear that the firm was facing a tactical problem: the rate of acquisitions of other banks/ financial institutions have become so rapid that the organization’s mission and values could be doubted, as of their feasibility. The firm’s CEO would have to resolve a series of issues related to the above practice. From 1992, up to the acquisition of Charter One, the organization’s growth has been gradual.