Outline
Introduction
Overview of the Finance and Banking Industry
PESTE Analysis OF Troika Dialog London
Matching the CV with the industry
Opportunities for Graduates in Troika Dialog London
Gap Analysis and Action plan
Bibliography
Appendix : Analysis of the Troika Dialog London using the Porter’s Five Forces model
Introduction
The finance and banking industry is one of the fastest growing industries in the world. It has attracted very many players. It is also one of the most diversified industries, with the diversity coming as a way of boosting service delivery and enhancing business continuity in the industry. The industry has very many companies and firms which specialize in different segments of service provision (Webster, 2006). One such player in this industry has been Troika Dialog. Troika Dialog commonly referred to as Troika is a banking investments and securities company. It has been in operation for 20 years. The company is based in Russia – Moscow. It has grown to become a multinational firm with operations in different countries including United Kingdom. It deals in the provision of financial, investment and advisory services. Its interests and activities lie in investment banking, capital markets, asset management, research, personal financing and investments and alternative investments. Under these lanes of business, its service offerings include debt and equity capital management, transaction of foreign exchange, financial risk control, liquidity and balance sheet management and bookkeeping and financial management. Other services being offered by Troika are investment control and settlement, trading in bond and equity and tax advice and offering tax planning and advisory services (World Economic Forum, n. d) The company has made great achievements in Russia leading to the expansion of its services to United Kingdom – London (Fleming, Bokros and Votava, 2001).
Therefore this paper looks into the finance and banking industry with specific reference to Troika Dialog – London. It carries an in-depth analysis of the industry – in specific Troika using analytical tools like Pestle and gap. It assesses the career advancement and employment opportunities present in the company especially so for a young stream of people who are graduating from higher academic institutions.
Overview of the Finance and Banking Industry
The finance and banking industry lie in the services sector. In fact it is the leading industry in the services sector in terms of the expanse in the number of activities and services which it provides in the economy. For a long time, the major participants in this industry have been banks. This is because the industry only dealt with the provision of financial services to its customers. However, the world economy has changed so fast creating a room for demand for more services from the industry apart from finical services. This has pushed for integration and diversification of services from the industry so that it can sufficiently cater for the emerging development needs (Marshall Cavendish Corporation., 2010). People continue to be creative which lead them to creating diverse areas of potential investment. Therefore many players apart from the banks have been attracted to this industry. These include asset trading firms, micro-finance institutions and many other service firms that offer quite a big range of services as it is with the demands of the economy. Many of these firms are born from the banks and a majority of them form business partnerships with banks. The partnerships ensure that the services are offered efficiently. Troika is an example of such firms. The company is operating as a subsidiary firm of Sberbank. The growth of this industry has made it to have a high demand for employees. The industry employs many people globally from diverse fields of studies. The reason for this is the diversity in the nature of services that are being offered (Kantur, Krasnov, Noel and Rutledge, 2006 and Kilner, 2011).
PESTE Analysis OF Troika Dialog London
Troika London Limited is one of the many firms that are under the regulation of the Financial Services Authority. Troika has grown to become one of the London Stock Exchange members.
Troika Dialog operates all over Russia – in 20 cities. It also has offices and operations in London, the capital city of United Kingdom. The company serves different clients among them international firms, individual entrepreneurs, government agencies and financial institutions. Its networks of clients are drawn from different regions of the world (Kilner, 2011).
London is the largest Urban Zone in the world drawing populations from different regions of the European Union and the world. London is one of the most economic viable cities in the world with huge volumes of trade and trading transactions made.
London and the United Kingdom at large is a stable country. It has well constituted and functional political institutions which are the formulators of the policies that govern the economy. The country has stable politics and a peaceful environment that favors business in the country. United Kingdom has a big population. The majority of the people of United Kingdom are well educated meaning that there is a high literacy level. The political stability of the country has steered the economic environment in the country which has been performing extremely well according to many analysts. The political climate of the country is supportive of the activities of Troika in a number of ways. First of all, there are good governance structures. We have the senate and the lower house which sets up political structures and policies. The Politics of United Kingdom are issue based and thus healthy for economic growth through ensuring that better policies are formulated. The political institutions are also very efficient and supportive of other institutions including economic or business institutions the country. Secondly, there is political stability. The country has not witnessed volatile political wrangles. This means that there is peace which translates to a conducive environment for business. Thirdly, the government ensures business responsibility and ethic is adhered to by business firms operating within the country. The government ensures that there is an open and fair business environment for all the investors in the country. Also the government of UK has been supportive of foreign investment in the country a factor that has attracted many foreign investors, Troika Dialog being one of them. With a good foreign policy, the UK government has good relations with foreign countries. It is one of the core members of the European Union. Though it has its own challenges, bilateral and multilateral business agreements often accelerate business in any country. These factors have favored the entry of Troika Dialog into the financial industry of Britain (Crockett, Harris, Mishkin and White, 2004).
The UK government is protective of its economy therefore it takes adequate measures of controlling and regulating the economic systems. While some economists favor this kind of control of the economy, others are against it and argue that it undermines the principles of an open market or liberalized economy. The level of government control in business is quite high. However, this kind of regulation has been accepted as it ensures that larger firms do not manipulate and monopolize the economy. The UK has entered many bilateral and multilateral business agreements. Having operated in different political climates, Troika in Eastern Europe, Troika finds a very favorable business destination in United Kingdom. Moreover, its location in London is quite strategic as this is the business hub of UK (Great Britain and Great Britain, 2012).
United Kingdom is the second largest country in the world in terms of the size of the economy and infrastructure. As explained earlier, the country has a large population. UK has an active and diverse economy. It is ranked as the second most developed and industrialized country only coming second after the United States. The country has a high Stable Gross Domestic Growth which only fluctuates a little owing to the economic conditions and fluctuation in the global economy. There are many foreign firms which have been operating in the country. The country still remains open to foreign investment thus many foreign companies are investing in the country.
UK has a high literacy level due to the presence of sound academic institutions. There are many colleges and universities in the country which supply graduates to the industry. The rate of unemployment is low meaning that most of the young people who finish their studies end up being absorbed in the industry. There is a good balance between the number of people who leave college and those who are absorbed into the job market. The country has a high development index implying that there are low rates of poverty. Most of the citizens of the United Kingdom live above the average line of economy.
Britain has a well developed financial industry. The industry is very competitive with many banks and other financial institutions taking an active part in the industry. The wealthy population in the country has been supportive of this industry. In fact the demand for financial services is one of the reasons behind the growth of the financial sector. Many companies both local and multinational are doing business in the finance industry of Britain. With many industries in United Kingdom, the affinity for financial services still remains high (Great Britain, 2006).
It is worth noting that Troika Dialog has been in Britain for quite a long time. The company was attracted by the demand for financial services in the economy of Britain. To add to that, there are a lot of incentives in the British economy for investors like Troika. Most of these have been mentioned and are strengths on the side of the economy and for would be investors. Troika still finds an elusive as it expand its customer base in the country by capitalizing on the economic strengths of Britain (Hedgeweek, 2008).
The Major challenge that the company is facing is the high competition existing in the industry in the country. As it is with the company, it still young in the country. Many investors will often trust and buy services from established firms as this reduces risks. The company is however trying its best to cope with the completion. The major boosting factor being its performance in Russia and other CIS countries where it has it has launched its activities. Also the company activities in London are boosted by the fact that it has a diversity of services. It acts as a one-stop shop for financial services which is what many customers prefer in these days. In Russia the firm has received many awards for its ecstatic performance which has boosted the confidence of its customers in the United Kingdom (Chambers and Chambers & Partners, 2008).
Britain is a country that draws its population from people of different regions and races. It is a multiracial country. Owing to the fact that the country is multiracial, there are diverse lingual groups in the country. However, the major language that is used by a majority of the population is British English. This is an advantage for Troika Dialog. Britain has well developed social institutions. The social institutions are well organized and contributors in economic development. These include these include churches, health institutions and social schemes among many others. These social institutions forms part of the customers for the financial sector of Britain and are thus boosters of finical institutions in UK. Apart from a few incidences of racial segregation, the communities in London and the entire United Kingdom are well organized with a healthy pattern of interaction. They give a favorable environment for the economic institutions to flourish. Generally, the social climate of London can be argued to be one of the most favorite for Troika Dialog and many other companies form foreign countries which are doing business in London or Britain at large. There is heterogeneity in race but with good relations. The population is also large and enterprising which is a big advantage to Troika (Martin, Fitzgerald and Ebrary, Inc., 2002).
Troika has been very creative and innovative which has helped to keep it at per with other bigger companies in the industry. The company utilizes information technologies in improving service provision to its customers. London is one of the most technologically advanced cities which are utilizing information technology to hasten work. Financial institutions like the Barclays bank have been in the fore front in improving service delivery. Being a technology cautious company, Troika has managed to keep at bay in the finical business sector in London (Martin, Fitzgerald and Ebrary, Inc., 2002).
The financial industry of Britain has been growing from time to time due to the ever demand for financial services. The economy of Britain has been one of the major supportive factors of the growing demand for financial services. Stricter regulations are being introduced in the capital and securities market of Britain. This has been witnessed in the recent years. The main reason for this is to protect the market and other firms Like Troika from fraudulent traders and companies trading in the market. With this, there are tight regulations for entry and sustenance in the market. However, the security of investors is being guaranteed in these measurers. Therefore, investor confidence in financial institutions is growing. Therefore, companies with good growth and expansion policies are finding it quite easy to gain strong grounds in the industry (Great Britain, 2006).
Matching the CV with the industry
Troika Dialog London is a financial services and research firm which hires employees from different fields of different qualifications. The firm is an equal employer and hires people of different cultural divides in as long as they best suit the qualities that are being sought for. It has employed people in senior and small ranks from different countries. It does not rely on expatriate leadership but in experience in business and management. It gives other firms competition in labor by enticing people who they think have the skills and experience necessary fro driving their business. They monitor the performance of the employee in his or her previous position which informs them on the worthy and value of the employee to the company. However, this works for the senior management positions. The company sis still growing similar to the industry as mentioned earlier, the industry is still demanding more labor. Troika draws its staffs from different fields. The kinds of people required by the company include those who have specialized in finance and accounting, customer management, sales, communication and general management (Hedgeweek, 2008).
According to the curriculum vitae of Garush Antonyan, he is an outgoing person with a grasp of communicative qualities that are demanded for by the employers in the financial industry. He is an undergraduate in business and criminology. He did his undergraduate studies in London meaning that he has is aware of business in London and the UK. He also studies in Ukraine where he graduated with two diplomas. Having cone from a CIS nation – Ukraine and studied in London, Garush is well aware of Troika and its line of business. Staying in London adds to the experience of Garush.
Garush is a good communicator. He knows several Languages among them two key international languages which are English and French. English is the widely spoken language in United Kingdom. On the other hand, there are many foreigners doing business in UK. Garuch can be resourceful in reaching customers who do not speak English. Garush is quite experienced more so in management. He has worked with several business enterprises. He worked as a restaurant assistant in Ukraine where he developed the skill of customer relationship management. Customer relationship management is an essential skill in the financial business thus Troika Dialog can find this skill in Garush while recruiting more employees. He also worked at the embassy of Armenia where he further advanced his communication and organizational management skills. His later qualification even gives Garush a more upper hand experience and a likelihood of eligibility for a job with Troika Dialog London. He was the vice president and investor representative of a furniture mall in Ukraine. He controlled over 140 workers. He managed to raise the accounts of the company.
His level of experience qualifies him to be employed by Troika Dialog London. His major setback however is that he has not directly worked in a financial institution which could have given him an even greater advantage over other people seeking for jobs in Troika Dialog. Also, Garush has only studied in London. He has never worked in London or UK. The lack of international working experience can be a hindrance to his prospect of being employed by Troika. Generally, Garush is a suitable potential employer in the financial industry as his qualifications and work experience shows. He has good managerial, communicative and organization skills. He also has the personality which is required by the industry. He is outgoing and interactive and can help in forming customer networks and maintaining then through his management and communicative skills. He is computer literate with proficiency in computer office applications.
Opportunities for Graduates in Troika Dialog London
As earlier highlighted, the financial industry employees many people in the UK. In the recent times the volume of work in the industry has increased due to diversity. The industry needs fresh minds of motivated people. Universities and colleges are major sources of such individuals. The young people who graduate from universities have high ego and ambition therefore they are employed in the industry to help in driving change. The senior management staff of Troika is composed of more experienced people who have worked in the industry for long. They are more familiar with the practices in the industry. Under the senior management we have a group of employees who are implementers of policies and decisions that are crafted at the managerial level. Such employees have a high interest in learning and familiarizing with activities in the industry. Most of these staffs are young people who graduate from colleges and universities. As part of its expansion plans, more job opportunities for graduates are being created in Troika Dialog (Hedgeweek, 2008).
Gap Analysis and Action plan
Troika Dialog London is a strong financial institution in United Kingdom. The firm has a strong foundation in its mother country where is has been rated among the top performing firms. It has succeeded in becoming a member of the London stock exchange. Being listed on the London stock exchange implies that Troika Dialog has a wide capital base. This is a positive pointer of growth for Troika. It positions it as a firm worth investing in. It has expanded its business in London and molded its image in the financial sector of United Kingdom. It has been able to maintain an image of an equal employer. Its decision to use foreign staffs and not expatriates has been behind its quick acceptance. People have more confidence in firms with manager that have a good reputation and whom they know through their records. However, the control and regulation of the financial market affects its operations. Also, there is a stiff competition (Kochendörfer-Lucius, Pleskovic, IBRD, and Internationale Weiterbildung und Entwicklung gGmbH, 2006).
As we move into the future, a number of actions will have to be taken by the company that will guarantee it growth. Troika need to expand into the entire United Kingdom. This will help to portray it as a national company and earn it a national image thence the benefits of these. By doing this it will even have a platform or basis of moving into other countries neighboring Britain for example Scotland among others. As more economic agreements are taken by countries in Europe and the world at large, the company should take the opportunity to expand into the entire Western European market. It has to utilize its success in United Kingdom well – as a bridge to entering other markets. Expansion should form part of its short –term objectives; centering on full capture of the UK market. It should also inform its long term objectives; getting outside Europe and capturing the rapidly developing markets in Asia and even other regions like Africa.
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