CHAPTER ONE
INTRODUCTION
The greatest problem facing managers in a firm or organisation is on low to make useful management strategies or decision make in order to improve the productivity in the organisation. After establishing a company, the manager should evaluate the management strategies that will suit the establishment (organisation) in order to increase the productivity that will be accomplished the organisation goals.
According to Bartol and Martin (1993) management strategies is a process through which managers formulate and implement strategic goal achievement, given available managerial and internal conditions. The definition recognize that strategic management is oriented toward reaching long-term goals, weight important environmental elements, consider major internal characteristics of the organisation, and involves developing specific strategies. It is impossible for an organisation, be it services, merchandizing or manufacturing to succeed without a major using its management strategies.
It is true fact that management strategies helps the managers to meet the goals of the organisation because strategy management helps the managers to analyze, identify and develop a competitive advantage which is a significant edge over the competition in dealing with competitive forces. It promotes a scene of direction so that organisation members know where to expand their effort.
1.2 BACKGROUND OF THE STUDY
Intercontinental Bank Plc was first established as a merchant bank in February 1989 under the name Nigeria Intercontinental merchant Bank Limited. It commenced business with paid up Ordinary Share Capital of N12 millions. In five years it became the most profitable merchant bank in Nigeria. in 1st September, 1989, an Investment Company was set up. In 1993 the bank acquired substantial equity stake in Associated Discount Hause Limited (ADHL), the longest discount firm in Nigeria. In 1996, the bank required majority equity state in equity bank of Nigeria Limited, a nimble and dynamic commercial bank, to enhance commercial operation of the group. In 1999, the bank became commercial bank. In 2000, it converted into Universal banking. In 2002, it became a publicly quoted Company listed on the Nigeria Stock exchange. In 2004, it exceeds the new N25 billions shares holders founds as prescribed by the CBN. In 2005, it emerge with three other banks: equity Gate way and Global in October 2005. It is the 4th largest bank in Nigeria, by all financial indices. In 2006, it executed another public offer that guessed about N100 billion with subscription level hitting an unprecedented 77.4%. in 2007, a consortium of five foreign financial Institutions invested were spread all over the country. in 2008, it emerge to be the number one bank among all the banks in Nigiera. In 2009, the bank celebrated it 21st year Anniversary of Operation in Nigeria.
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