Running Head: CITIBANK

Citibanks E-Business Case Analysis

Cheryl Bluthardt, Brandy Church, Dawn Townley, and Amanda VanKoevering
LDR660: Strategic Plan & Implementation
Siena Heights University
Lansing, Michigan
April 10, 2012

Citibank Case Analysis

2
Profile of Citibank

Citibank is a multidimensional financial institution that services approximately 200

million corporate and personal consumers around the globe (Hitt, et al, 2011). Before the
financial crisis and subprime mortgage meltdown of 2007, Citibank was one of the most
profitable banks in the United States (Hitt, et al, p. 99). The corporation targets large global
enterprises and governments, and differentiates itself from its competition by emphasizing
customer service. As a result, in 2008 Citibank had financial dealings in 49 markets with more
than $12.5 trillion in assets (Hitt, et al, 2011, p. 101).
Citibanks vision is to become the worlds leading e-business enabler (Hitt, et al, 2011,
p. 105). The banks priority is to meet the changing needs of its customers, and therefore
emphasizes technological advancements to provide seamless and efficient banking systems.
Providing anytime, anyplace banking became an essential component of Citibanks services. An
e-Business strategy was developed to implement this vision by connecting, transforming, and
extending Citibanks technology offerings (Hitt, et al, 2011).
To fulfill this vision and mission, Citibank employs approximately 325,000 staff (Hitt, et
al, 2011). These employees are led by Sanford Weill, Citigroups chief executive, and Jorge
Bermudez, Citigroups executive vice-president and head of global Cash Management and Trade
Services (Hitt, et al, 2011). Citibank also partners with several key technology partners that
include Oracle, Commerce One Inc., SAP AG, Wisdom Technologies, and Bolero.net (Hitt, et al,
2011). Together, Citibank and these partners comprise FinancialSettlementMatrix.com, a
company that supplies buyers and sellers with e-solutions to payment processing (Hitt, et al,
2011).

Citibank Case Analysis

These employees are charged with the task of being as efficient and effective as possible.
Citibanks main business strategy is to understand client needs by developing relationships with
each customer (Hitt, et al, 2011). Corporate consumers are encouraged to outsource financial
processing to Citibank, further deepening the banks understanding of customers current needs.
This knowledge can then be used to forecast customer technology needs for future development
and/or delivery.
As a large financial institution, Citibank conducts business around the world in over 100
countries on a daily basis (Hitt, et al, 2011). The bank continues to develop new markets in areas
that are not being serviced in an attempt to sustain its position as a global banking leader. To do
so, Citibank must optimize its e-banking services and anytime, anyplace banking.
This has been the priority of Citibank for the past 15 years. In 2000, Citibank made a
serious push to deliver integrated solutions that enabled its corporate consumers to conduct
business online (Hitt, et al, 2011, p. 99). Between 2000 and 2007, several entities within
Citibank were created to focus on the advancement of the institutions online banking options.
For example, in 2000, Citibank formed the Internet Operation Group, e-Capital, and e-Asset
Management (Hitt, et al, 2011). In 2002, Global Transaction Services was created within
Citibank to integrate technology and global efficiencies. In 2006, Citibank developed
TreasuryVision (p. 107) as a means to assist customers with liquidity management (Hitt, et al,
2011). These resources are a few examples of how, by 2007, Citibank offered a variety of webenabled business solutions to its customers.

Citibank Case Analysis

4
Symptoms of Citibanks Problems

While Citibanks mission is to meet its customers needs, there are signs that the
institution is struggling to fulfill this mission. First of all, Citibank services corporate customers
of varying sizes around the globe (Hitt, et al, 2011). Citibanks customers are also expanding
their businesses and becoming e-enabled. Customers want the ability to collect payments online
and have access to more efficient web-enabled financial processes (Hitt, et al, 2011, p. 103).
This dynamic clientele base requires Citibank to offer, support, and improve a changing portfolio
of services. Because of the diverse and constantly changing needs, Citibank is struggling to keep
pace.
Additionally, profit margins have been reduced as a result of the subprime mortgage
meltdown in 2007 (Hitt, et al, 2011). The resulting credit crunch has left Citibank facing a tough
business environment filled with intense competition. The changing global economy left
corporate and personal customers with less money, resulting in more requests for efficient and
low cost banking options. Then in 2008, Citibank and other financial institutions came under
regulator scrutiny. According to Hitt, Ireland & Hikisson (2011), Citibanks revenue grew 8
percent; however, its operational expenses grew by nearly 15 percent (p. 102). Citibank has
therefore struggled to balance providing the banking technology desired by both corporate and
personal customers with the costs associated with risk management, compliance, and day-to-day
business operations.

Citibank Case Analysis

5
Citibanks Goals for the Future

Citibanks leadership has several goals for the organization. Citibanks focus has been on
the customer meeting their needs has consistently been touted as the organizations number one
priority. As a result, the companys goals focus on achieving this mission.
One of Citibanks goals is to provide its customers with the technology that would enable
them to conduct business at any time, any place. Citibanks customers both corporate and
personal need the ability to work with their money in the most efficient manner possible.
Therefore, Citibank wants to web-enable its core services. Jorge Burmudez, Citibanks executive
vice president and head of e-Business, stated that, a core part of our e-business strategy is Webenabling our current services (Hitt, et al, 2011, p. 107).
Another of Citibanks goals is to align with partner companies that can provide Citibank
customers with innovative, seamless and efficient services accessible worldwide. Recognizing
that internal resources are limited, and it is resource intensive to internally develop new
technologies that will meet customers rapidly changing needs, Citibank has adopted the strategy
of aligning with partners to deliver e-services as a means to achieve their goal. As a matter of
fact, Tom Edgerton, head of the alliance for Citibank e-business, stated that in the future, it
wont be what your company can do, but what the network of companies you work with can
provide (Hitt, et al, 2011, p. 107).
Still yet, another of Citibanks goals is to provide customers with technology-based
services that would streamline their accounts receivable, accounts payable, and liquidity
management processes. To accomplish this, Citibank emphasizes the development of a single
web-enabled platform where customers could access any of their systems. Caroline Wong, Head
of Citibank Hong Kongs Cash & Trade stated that Citibank would focus on providing customers

Citibank Case Analysis

with outsourced accounting solutions to achieve a better total-understanding of their customers

(Hitt, et al, 2011).
An important component to achieving Citibanks goals is to maintain customer
satisfaction. Therefore, another of Citibanks goals is to improve their customer service. To do
so, Citibank will need to improve the quality of their telephone hotlines, and to offer customers
relationship managers and product consultants (Hitt, et al, 2011). Another way Citibank would
like to increase customer satisfaction is by using technology to provide customers with better
services at lower costs (Hitt, et al, 2011).
Citibank also wants to increase their profit margins. The poor economy, coupled with the
crash of the subprime mortgage sector, cost Citibank $9.83 billion in the last quarter of 2007
(Hitt, et al, 2011). As a result, it became necessary for Citibank to cut costs to increase its profit
margin. Citibank did not want to reduce its ability to pursue its mission, however, so according
to Charles Prince, the goal became to identify and eliminate organizational, technology, and
administrative costs that do not contribute to our ability to efficiently deliver products and
services to our clients (Hitts, et al, 2011, p. 102). Citibank coupled that goal with the desire to
reach new markets in an attempt to increase its revenue stream.

Citibank Case Analysis

7
Analysis of Citibanks Current Situation

General Environment Analysis of Trends

There is a strong trend amongst financial institutions to utilize technology to increase
banking efficiency (Hitt, et al, 2011). This is a result of technology being more readily available
and accessible to both business owners and personal consumers. Technology has also become
more affordable. In relation to businesses, as demand has increased, the cost of the technology
has decreased. Additionally, there has been movement within the industry to encourage the use
of electronic payments (Hitt, et al, 2011).
One example of a recent trend is the use of a portable credit card reader for phones,
iPads, laptops, and computers (Square Up, 2012). This device can be used by businesses of
varying sizes, and allows one to take credit card payments without paying monthly fees or high
per transaction rates, or requiring compliance with Payment Card Industry Data Security
Standard (PCI DSS) as no customer card data are stored with the processor (Square Up, 2012). In
a home-based business article, Culp (2011) states that there are an estimated 18.3 million homebased businesses in the United States, and that number is forecasted to rise. This means there is a
market for the small, portable, affordable card readers in the United States, and potentially
globally.
The electronic payment trend continues as an analysis of Citibanks clientele illustrates
that more consumers are acquiring credit cards and using them on a more frequent basis
(Citibank, 2006). According to Citibanks 2005 financial statements, approximately 36% of
Citibanks global revenue is a result of customer-driven credit card transactions (Citibank, 2006).
Twenty-four percent is based on Citibanks US customers, while the remaining 12% is the result

Citibank Case Analysis

of international credit card transactions (Citibank, 2006). This is the largest percentage of any of
Citibanks revenue types.
Another industry trend indicates that while consumers are interested in electronic
payments, they still prefer brand recognition and banking with institutions that can demonstrate a
proven history of financial security (Hitt, et al, 2011). Customers want to have peace of mind
when it comes to utilizing e-banking services.

Citibank Case Analysis

Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis

According to Hitt, Ireland & Hoskisson (2011), Cititbank was the most global of all U.S.
banks and in 1997 was among the most profitable as well. The changing global environment and
customer needs, however, presented Citibank with unique opportunities and threats. An analysis
of Citibanks strengths, weaknesses, opportunities, and threats provide the following
information:
Strengths:

Strong Brand Recognition

Continuous Investments in Technology
Global Presence
Diversification of Products and Services

Opportunities:

Expand Good Reputation

Improve Existing Web Features &
Expand Global Banking
Increase Customer Service
Offer Fresh Approach to Banking

Weaknesses:

Declining Capital
Debt Obligations Due to
Subprime Market
High Customer Demands
Complicated Products

Threats:

Competition
Heavy Investments in Technology
Regulatory Scrutiny
Weakening Financial Markets

Strengths
Citibank/Citigroup benefits from strong brand recognition in the financial service
industry (Hitt, et al, 2011). As a result, Citigroup enjoys a strong competitive edge over its
competitors. Not only does Citibank have strong brand recognition within the United State, but
their brand name is known globally as well. According to Hitt, Ireland & Hoskisson (2011),
Citigroup provides a larger amount of credit cards than any other bank. Based on feedback from
this customer pool, in 2003 Forbes.com presented Citibank with a financial sector award, making
Citibanks superior customer service another of its strengths (Hitt, et al, 2011).

Citibank Case Analysis

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Citibank is also one of the most global of the existing financial service providers (Hitt, et
al, 2011). As a result, Citibank has a history of continually investing in its banking technology.
This reputation of superior technological offerings sets Citibank apart from its competitors.
Citibanks global presence is vital in continuous profits, and is therefore recognized as
another corporate strength (Hitt, et al, 2011). Their expanded portfolio enables Citibank to
deliver good results, regardless of the ongoing changes within the economy and banking
industry. Citibanks global presence also provides their customers with a better integration of
products and services.
Citigroup is also known for its diversified products and services (Hitt, et al, 2011). This is
essential in capturing new markets, as well as new consumers. Risk within Citibank is reduced as
a result of diversification. Diversity, in general, helps in positioning Citigroup with consistently
delivering superior products and services.
Weaknesses
The declining economy took a toll on the banking industry. Higher credit card costs and
the global economic slowdown accounted for declining capital within Citibank (Hitt, et al, 2011).
With credit card costs increasing, and financial losses due to the economy, Citibank had to take a
hard look at ways to improve technologies that would embrace and enhance performance.
Citibank also experienced a sharp decline in income levels subject to debt obligations
related to the sub-prime markets (Hitt, et al, 2011). These sub-prime markets strongly impacted
the bottom line profits of Citibank. Investors lost confidence in the financial industry as these
high risk loans escalated out of control.
As customer demands increased, Citibank found it difficult to keep pace with these
requests with less revenue at their disposal (Hitt, et al, 2011). Their lower scale of operations

Citibank Case Analysis

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restricted Citibanks ability to compete within the banking industry, thus limiting opportunities
within the banking environment.
Citibank experienced a weak competitive position that was primarily attributed to
underperformance (Hitt, et al, 2011). Citibank offered inferior products and services, and lacked
the innovation of new products and services that their customers desired. As a result, market
shares continued to decline over a four year period.
Opportunities
Citibanks positive reputation is well known within the global banking industry (Hitt, et
al, 2011). Citibank is focused on enhancing and expanding its good reputation. As a result,
Citibank has the opportunity to leverage its reputation to gain new customers, which will
increase profits.
Expanding global banking is essential in any banking organization. Citibanks product
portfolio could be enhanced by adding new products and services, as well as improving and
enhancing current offerings. Innovative products and services could potentially bring new
customers to Citibank.
Customer service is of utmost importance to Citibank (Hitt, et al, 2011). They want their
customers, new and old, to know they can rely on Citibank to focus on each persons individual
account as they would their own. This is the reason Citibank has made increasing customer
service of utmost importance.
Citibank is offering a fresh approach to banking. New technologies can provide
Citibanks customers with innovative and efficient accounts receivable, accounts payable, and
liquidity management services to be accessible anywhere, anytime, at the lowest cost (Hitt, et al,
2011). This will be a crucial tool in the success of Citibank.

Citibank Case Analysis

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Threats
As with any industry, competition is always a threat. Citibanks main competitors include
Bank of America, Chase Bank, as well as new entrants into the banking industry (Hitt, et al,
2011). Citibank must be innovative in developing new techniques in which to serve their
customers to remain strong and eliminate competition. Retaining current customers, as well as
attracting new ones, will prove crucial to the financial stability of the organization.
Even though investing in technology is one of Citibanks strengths, it also has the
potential to threaten the profitability of the organization. Developing and providing new
technologies is resource intensive (Hitt, et al, 2011). Whether Citibank simply enhances its
current technology, or purchases new technologies, the budget will be impacted.
Regulatory scrutiny is another threat to Citibanks growth (Hitt, et al, 2011). Banking
regulations change continuously. Staying abreast of these updates and implementing means to
stay in compliance is a resource burden on the industry. Being non-compliant, however, is an
even larger burden.
Weakening global financial markets also pose a threat to Citibanks growth (Hitt, et al,
2011). The declining economy provides an unstable condition that creates stress and fear for all
involved. This includes the banking industry, the customer, and the investors. As long as the
financial markets remain weak, threats to survival will remain.

Citibank Case Analysis

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Financial Analysis
The financial analysis provides the organization and stakeholders with the financial
condition of the organization. This is obtained from taking the financial statement, calculating
and analyzing ratios using simple averages, and calculating percentages based upon the data.
Business decisions are then based upon what these ratios reveal. Accounting ratios are one of the
most important tools used in analyzing and interpreting financial statements, as well as
determining the financial stability of the organization.
Financial ratios are pertinent when engaging in decision making. Managers need financial
information to better equip them with the tools needed to make current and future decisions for
organizational success. Financial strengths and weaknesses are revealed within the financial
ratios. Therefore, these ratios provide an essential tool in providing the organization what they
need to make educated decisions as to prior performance, current conditions, and future
predictions of the organization in relation to their overall goals.
Citibanks 2005 financial ratios are follows:

Profitability Rations
1. Return on total assets = 17.5% * Acceptable
2. Return on stockholders equity = 22.1% * Acceptable
3. Return on common equity = 22.3% * Acceptable
4. Operating profit margin = 1.6:1 * Acceptable
5. Net profit margin = 16.5% * Acceptable

Liquidity Ratios
1. Current Ratio = 1.2% *Acceptable
2. Quick ratio = 2.4% *Acceptable

Citibank Case Analysis

14

Leverage Ratios
1. Debt-to-assets = 7.5% * Acceptable
2. Debt-to-equity = 12.2% * Acceptable
3. Long-term debt-to-equity = 1.9% * Acceptable
4. Times-interest-earned = 36.1% * Acceptable
5. Fixed charge coverage = .8% * Acceptable

Activity Ratios
1. Total assets turnover = 8.1% * Acceptable
2. Average collection period = 1.3 times * Acceptable

Shareholders Return Ratios

1. Dividend yield on common stock = 9.1 * Acceptable
2. Price-earnings ratio = 3.6 * Acceptable
3. Dividend payout ratio = .03 * Acceptable
4. Cash flow per share = .09 * Acceptable
Ratios are primarily used to uncover underling strengths and weaknesses within the

financial stability of an organization. They are not to be deemed as the ultimate factor in making
financial decisions. They are simply a piece of the puzzle to use in conjunction with additional
analyses to better understand whether it is a good move to go forward with something, or not.

Citibank Case Analysis

15
Diagnosis of Citibanks Problems

The analysis of Citibanks current information provided an interesting perspective on the

state of the institution. Based upon Citibanks financial ratios, it has been determined that
Citibank has steady growth and consistent profits (Citibank, 2006). However, trend data would
suggest that customers are requiring more innovative banking technologies, and that Citibank
will need to invest in this area to maintain that steady growth and consistent profits particularly
in light of Citibanks mission to meet customer needs. With limited overhead, however, Citibank
does not have the revenue needed to develop its own technologies to keep pace with the
changing and diverse needs of its customers. This appears to be Citibanks root problem.
There are institutional strengths and industry opportunities that can address this problem,
though. Trend data suggest that customers desire banking establishments with proven records of
financial security. Considering that the SWOT analysis identified brand recognition as one of
Citibanks strengths, it would seem advantageous for Citibank to leverage this to increase its
market power. Citibank also aspires to partner with complementary companies that can offer ebanking solutions that Citibank does not have resources to address on its own. Given the trends
and the evidence collected in the analysis of Citibanks current situation, the Strategic Goal
Matrix indicates that Citibank should focus on providing a new e-banking technology through a
partnership with a complimentary organization.
Based on the trend analysis, the form of technology that will benefit a majority of
Citibank's customers is the Square credit card reader and processor (Square.com, 2012). This
device is very small, portable, cost effective and efficient. As long as an individual that wants to
process a credit card has internet access, either by cell phone (smart phone), iPad, tablet, laptop,
or desktop he/she can accept Mastercard, Visa, Discover or American Express.

Citibank Case Analysis

16

It is therefore proposed that Citibank and Square collaborate and partner to offer this
technology to Citibanks current customers. The benefits to both parties will be exponential
because Square will have access to the Citibank trusted, globally recognized brand, and Citibank
will be able expand on its largest percentage of revenue by making it easier to use and process
electronic credit card payments.

Strategic Goal Matrix

Rate each alternative from 1 to 3 to evaluate ideas, strategies or solution possibilities.

GOAL OPTIONS

IMPROVES COST TO
TIME
QUALITY IMPLEMENT REQUIRED

EASE OF
STAFFING

FINANCIAL
RETURN

TOTAL
POINTS

High = 3
Low = 1

High = 1
Low = 3

A lot = 1
Not much = 3

Easy = 3
Difficult = 1

High return = 3
Low return = 1

13

Align with partner companies to provide

customers with innovative, seamless and
efficient services

13

Provide technology-based services to

streamline customer A/R, A/P, and
liquidity management.

11

Distribute technology enabling customers

to conduct business online worldwide

Reach new markets

Improve customer service

Cut costs

Grass Lake Regional Chamber of Commerce Determination of Goals for Implementation

Citibank Case Analysis

17
Action Planning for a Better Citibank

To enable Citibank to partner with the complementary company and provide the credit
card processing services to its current customer base, thereby enabling Citibank to also increase
customer service satisfaction and profits, Citibank needs to:

Obtain funding source for start-up fees

Draft a partnership negotiation contract between Citibank and Square

Legalize negotiations between Citibank and Square

Satisfy any legality issues or insurance requirements

Establish Citibanks partnership with Squares business presence

Establish the web presence for this joint venture and identify staff who will be
responsible for maintaining the site

Determine accounting procedures of uploading and downloading files including

financial transactions

Identify help services for customers within Citibank and within Square

Schedule the date the new service will begin operations

Consider any additional filings that may be required ( Federal or State)

Develop and implement a marketing plan

Develop an operations plan for the sales department to handle customer inquiries
and order processing

Establish an evaluation metric to annually assess and document Citibanks

Strengths Weaknesses Opportunities and Threats (SWOT Analysis)

To work through this list, Citibanks leadership and departments will need to work
collaboratively to design and implement a synergistic strategic action plan. The individual

Citibank Case Analysis

18

department action plans that follow illustrate how Citibanks leadership and marketing, IT, and
sales departments will develop and implement a marketing plan to promote this new technology.

Department Corporate
Completed
by:
Key Result
Area:

Dawn Townley, CEO

Leadership
Align with partner company to provide new technology to current Citibank customers, thereby
Increase profits and customer satisfaction

Goal:
Step #

Action

Responsibility

Outside Experts
Needed

Budget
Needed

Budget
Explaination

Corporate Level

N/A

N/A

N/A

Supervisory
Level

N/A

N/A

N/A

To create a diverse team, who will ensure the development

and annual revision of a viable technology vision that aligns
with Citibank's goal

To assess the level of progress attained by Citibank for each

of the areas that are affected by technology use

To recommend strategies to achieve desired goal

Manager Level

N/A

N/A

N/A

To prioritize those recommended strategies as strategies

that should be completed within, the short term (1-3 years),
as well as long term (3-5 years) strategies

Corporate Level

N/A

N/A

N/A

To re-assess the level of progress attained by Citibank for

each of the areas of focus for technology use on an annual
basis, and make necessay changes as needed

Corporate level

N/A

N/A

N/A

Department Information Technology

Completed
by:
Key Result
Area:

Amanda VanKoevering, Director of Information Technology

Information Technology
Implement new technology for customers

Goal:
Step #

Action

Responsibility

Outside
Experts
Needed

Internal/External*

Yes

N/A

N/A

External*

Yes

N/A

N/A

Budget Needed

Budget
Explaination

Negotiation with Square for technology

Use Square's technology

Set up a helpdesk within Citibank

Internal/External*

No

Yes

N/A

Train superusers for helpdesk

Internal/External *

No

Yes

N/A

Mock exercise with helpdesk superusers

Internal

No

N/A

N/A

Re-assess processes for helpdesk

Internal

No

N/A

N/A

* External is to mean Square

Department Marketing
Completed
by:
Key Result
Area:

Cheryl Bluhardt, Director of Marketing

Marketing
Inform current customers of new credit card reader

Goal:
Step #
1
2

Action
Schedule a brainstroming session with the
marketing department and PR from Square
to contract with a company to design a survey of
the current customers

Responsibility

Outside Experts
Needed

Budget
Needed

Budget
Explaination

Internal

Yes

N/A

N/A

Internal

Yes

Yes

Pay for survey

creation
Pay for postage and
duplication

Send out survey mail

Internal

Yes

Yes

Compile Survey Data

Internal

No

N/A

N/A

Analyse data for customer needs

Internal

No

N/A

N/A

Request a budget from leadership

Internal

No

N/A

N/A

Develop multi faceted marketing campaign to

include use of mail and tv ads

Internal

Yes

Yes

N/A

Hire firm to and producers to advertise

Internal

Yes

Yes

N/A

Re-assess marketing strategy on an annual basis

Internal

No

No

N/A

Department Sales Department

Completed
by:
Key Result
Area:

Brandy Church, Diector of Sales

Operational Processes
To establish workflow for sales personnel responding to marketing plan of new product

Goal:
Step #

Action

Responsibility

Outside Experts
Needed

Budget
Needed

Budget
Explaination

Schedule meeting between head of sales and head

of marketing to discuss marketing plan - target
audience and timeline

Head of Sales
Admin Asst

NA

NA

NA

Schedule meeting between head of sales and head

of product development to timeline for getting sales
staff aclimated to features of new product

Head of Sales
Admin Asst

NA

NA

NA

Compile meeting notes from two meetings to

identify needs of sales staff and timeline needed to
achieve staff proficiency

Head of Sales

NA

NA

NA

Design training program for sales staff

Head of Sales

NA

NA

NA

Review notes from implementation of other new

products

Head of Sales

NA

NA

NA

Create FAQs for all features of new product

Head of Sales

NA

NA

NA

Write script for sales staff

Head of Sales

NA

NA

NA

Schedule meeting between head of sales and head

of IT to establish expectations for support when
sales staff are asked questions out of their area of
expertise and identify support resources

Head of Sales
Admin Asst

NA

NA

NA

Create IT resource contact list for sales staff

Head of Sales

NA

NA

NA

10

Reserve training facility for sales staff

Head of Sales
Admin Asst

NA

Yes

Need money for

large enough facility

11

Duplicate training manuals, FAQs, scripts, and

contact lists

Head of Sales
Admin Asst

NA

Yes

12

Inform sales staff of training sessions

Head of Sales
Admin Asst

NA

NA

13

Conduct training sessions

Head of Sales

NA

Yes

Will need food and

beverages

14

Establish work schedules with extra workers to

accommodate increased phone volume to
accommodate marketing push

Head of Sales

NA

NA

NA

15

Implement extra sales staff work schedules

NA

Yes

Overtime

16

Re-assess on an annual basis

NA

NA

NA

Head of Sales
and Sales Dept
Head of Sales

Duplication fees

Citibank Case Analysis

19
References

Citigroup. (2006). 2005 Financial Information. Retrieved March 13, 2012 from
http://www.citigroup.com/citi/fin/data/k05c.pdf?ieNocache=353.
Culp, K. J. (2011, November 18). Home-Based Statistics You Should Know. Unknown,
Unknown, Unknown.
Hitt, M.A., Ireland, R.D., & Hoskisson, R.E. (2011). Strategic Management: Competitiveness
and Globalization (9th ed.). Mason, OH: South-Western Cengage Learning.
Square Up. Accessed April 5, 2012 from http://square.com.