Management of Multinational Corporations: CITIBANK

Résumé du document

Citigroup Inc. operating as Citi, is a major American financial services company which is based in New York City. This financial service sector was formed through a merger that took place in 1998 between Citicorp and the Travelers Group. Most of us would be familiar with the slogan ?Let's get it done' and this leads into the familiarity of the company. Another familiarity mode would be that this company was considered as the largest company in the world with total assets of US $2.2 trillion (Dec 2007) and provided jobs to nearly 3,20,000 employees. Citi is the leading financial services company in the world. It manages more than 200 million accounts in more than 100 countries. Its customer base is broad which includes individuals, corporations and governments by providing a full array of financial products and services covering Global Consumer Groups, Markets & Banking sectors, Citi Alternative Investment and Global Wealth Management zones as well. Citigroup and its myriad subsidiaries offer deposits and loans (mainly through Citibank), credit cards, investment banking opportunities, brokerage and plenty of retail and corporate financial services.

Extraits

[...] As a result of this policy, Citibank won the Human Resources Development Award in United Arab Emirates in 2002 and 2003.[9] This price rewards the company which has contributed the most to the human development in the country. Citibank has decided to hire more and more nationals for key and strategic jobs. Thus, we can consider that the company has more a “Regiocentric” or a Polycentric IHRM Orientation. Citibank can cope with issues of coordination between the headquarters and the offices in foreign countries. [...]

[...] The following analysis is based on a financial expert James Turk of Market Oracle” a UK based financial analysis firm.[12] How Citi is organized (2008/03/31) http://www.citigroup.com/citigroup/business/index.htm Appendix 3 [21]The following are published financial results for the three years ending Dec 2007 Historical Auditors Data Definitions Top 50 bank holding companies (table). National Information Center (2007-12-31) http://www.ffiec.gov/nicpubweb/nicweb/Top50Form.aspx Henderson Ian "Citigroup is 'world's largest firm'" Today (2007-03- 30) http://www.999today.com/businessandcommerce/news/story/10022.html Citigroup en plein desarroi http://afp.google.com/article/ALeqM5jNLt9YKr7TBmy1TnHki-EvCVyM6w Subprime : Citigroup pourrait déprécier 15 milliards de dollars supplémentaires, (2007/11/20) http://www.trends.be/fr/economie/banque-et- finance/12-1636-44170/subprime---citigroup-pourrait-deprecier-15-milliards- de-dollars-supplementaires-.html [5]Un rebond boursier au deuxième trimestre 2008 ? Raphael garaud (2008/03/26) http://www.la-chronique-agora.com/articles/20080326-753.html Geert hofstede cultural dimensions, United States http://www.geert- hofstede.com/hofstede_united_states.shtml Attentat contre une agence de la citibank a Athenes Mavros http://www.info-grece.com/agora.php?read,27,25925 http://careers.citigroup.com/careers/homepage/emea/gcib/humanres.htm http://citigroup.com/citigroup/press/2003/030305a.htm http://www.citigroup.com/citigroup/citizen/diversity/index.htm Citigroup shakes up operations outside the US Anonymous. Financial Times. [...]

[...] Indeed, US are its main market. But US is also as a thermometer of the worldwide financial mood, and so Citibank`s foreign investments and activities risk to slow down at short term. Consequences of presidential election in United States The economic situation in the United States is influenced by the US government economic policy. So the next presidential elections will have an impact on the future of Citibank. The democratic formation seems to have the advantage with the probable nomination of Obama, and the social predicted evolution from his program, mixed with the financial environment could make the bank in a delicate situation. [...]

[...] Its strategy is to adapt its marketing and management to the targeted place, but keeping in mind global objectives and views. Cross-cultural management and adaptation In this configuration, the main problem for Citibank is to link and to associate its north-American business culture to all the national culture found around the world. The key factor of its successful adaptation is the Human resource strategy. Indeed, the company sets up a geocentric hiring strategy, avoiding a higher cost for training expatriates in mass. Then, the local view is used in most of the management style, but the US efficiency. [...]

[...] Occupation is one of the prime factors of social class and is closely linked to an individual's identity. The average work week in the US for those employed full-time was 42.9 hours long with 30% of the population working more than 40 hours a week? Considering Hofstede's dimensions, Americans tend to be masculine in their behavior, individualist, have a low uncertainty avoidance and low power distance in their way to do business Discussion of the company's current problems related to -External environment Subprime crisis The subprime crisis has a deep impact on the worldwide financial network. [...]