Overview of the Finance and Banking Industry
PESTLE Analysis of Troika Dialog London
Matching the CV with the industry
Opportunities for Graduates in Troika Dialog London
Gap Analysis and Action plan
Appendix : Analysis of the Troika Dialog London using the Porter’s Five Forces model
The finance and banking industry is one of the industries in the world experiencing fast growth. This industry has attracted very many players. It is also one of the most diversified industries. The diversity comes as a way of boosting service delivery and enhancing business continuity in the industry. The industry has very many companies and firms that specialize in different segments of service provision (Webster, 2006). One such player in this industry has been Troika Dialog. The Troika Dialog Company commonly referred to as Troika, can be categorized as a banking, investments, and securities company. It has been in operation for over 20 years. The company is based in Moscow, Russia. It has grown to become a multinational firm with operations in different countries including the United Kingdom. It deals with the provision of financial, investment, and advisory services. The company’s interests and activities are in investment banking, capital markets, asset management, research, personal financing and investments, and alternative investments. Under these lanes of business, the company’s 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 the United Kingdom. This has seen the company establish its operations in London (Fleming, Bokros and Votava, 2001).
Therefore, this paper looks into the finance and banking industry with reference to Troika Dialog – London. The paper carries an in-depth analysis of the industry – specifically Troika – using analytical tools like Pestle and gap. It assesses the career advancement and employment opportunities present in the company. This is especially for a young stream of people who are graduating from higher academic institutions. This is a strategy that has been employed by the company.
Overview of Finance and Banking Industry
The finance and banking industry form part of the services sector. In fact, it is the leading industry in the services sector. This is in terms of the expansiveness and the number of activities and services it provides in the economy. For a long time, the majority of the participants in this industry have been financial institution. This is because the industry only focused on providing financial services to its clients. However, the world economy has changed so fast creating a room for increased demand in respect to services from the industry apart from financial 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. This industry has experienced rapid, and this has made it have a high demand for employees. The industry employs many people globally from diverse fields of studies. This is advocated for because of the diversity of services that are being offered (Kantur, Krasnov, Noel and Rutledge, 2006; Kilner, 2011).
PESTLE Analysis OF Troika Dialog London
Troika London Limited is one of the many firms that are guided by the regulation of the Financial Services Authority. Troika has experienced growth and now the company is one of the reputed companies trading at the London Stock Exchange. This Troika Dialog Company has established its operations all over Russia and spread in about 20 cities. It also has offices and operations in London, which is 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 at large. London is one of the most economically viable cities in the world. The city boasts of huge volumes of trade and trading transactions made.
London and the United Kingdom at large enjoy a relatively stable environment. It has well constituted and functional, political institutions that are the formulators of the policies governing the economy. The country has stable political and peaceful environment that favors business. The United Kingdom has a big population. It must be pointed out that most individuals residing in the United Kingdom are well educated. This means that there is a high literacy level in the United Kingdom. The political stability of the country has steered the economic environment in the country, and this 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. In the U.K. political arrangement, there is the senate and the lower house, which sets up political structures and policies. The politics of the United Kingdom is issue based. Therefore, the political environment in the U.K. is healthy for economic growth. This is because the environment ensures that good policies are formulated. The political institutions are also very efficient and supportive of other institutions including economic or business institutions the country (Crockett, Harris, Mishkin and White, 2004).
Secondly, there is political stability. The country has not witnessed volatile political wrangles. This means that there is peace, which translates to a good 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 investors in the country. Also, the government in the U.K. has been supportive of foreign investment. This is a factor that has attracted many foreign investors, Troika Dialog being one of them. With a good foreign policy, the U.K. government has good relations with most foreign countries. The U.K is regarded as 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 U.K. government is protective of its economy. In this case, the U.K. government takes adequate measures of controlling and regulating the economic systems. While some economists favor this control of the economy, others are against it. Those against control and regulation of the economic system 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 regulation has been accepted as it ensures that larger firms do not manipulate and monopolize the economy. The U.K. has entered many bilateral and multilateral business agreements. Having operated in different political climates including Eastern Europe, Troika finds a very favorable business destination in the United Kingdom. Moreover, the company’s location in London is quite strategic as this is the business hub of the U.K. (Great Britain Treasury and Great Britain Parliament, 2012).
The United Kingdom is one of the most respected countries in the world. This is in respect to the size of the economy and infrastructure. As explained earlier, the country has a large population. The U.K. has an active and diverse economy. It is ranked as the second most developed and industrialized country only coming second to the United States. The country has a high, Stable Gross Domestic Growth that only fluctuates a little owing to the economic conditions and fluctuation in the global economy. There are many foreign organizations that have been established in the country. The country still remains open to foreign investment thus many foreign companies are investing in the country (Great Britain Treasury and Great Britain Parliament, 2012).
The U.K. has a high literacy level due to the presence of sound academic institutions. There are many institutions of higher education spread across the country. In this case, individuals can easily get access to education in the country. In this respect, the colleges and universities 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. This means that the U.K. is one of the few nations that enjoy a relatively low unemployment rate. 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 (Great Britain, 2006).
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. This is an indication that Britain offers a good business environment to most companies. 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 previously mentioned. However, these incentives are positive aspects of the economy and the potential investors. Troika still finds it an elusive venture as it expands 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 within the country. This company is still young and new in the country. This aspect would work against the company. This is because many investors will often trust and buy services from established firms as this reduces risks. However, the company is trying its best to cope with the competition. The main factor that boosts the company is its performance in Russia and other CIS countries where it has launched its activities. Also, the company’s activities in London are boosted by the fact that it has a diversity of services. The firm is a one-stop shop offering financial services. This is what many customers prefer in these days. Therefore, this can be viewed as a strong point for this company. In Russia, the firm has received many awards for its ecstatic performance. This aspect 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. Since the country is multiracial, there are diverse lingual groups found within the country. However, the major language that is well known to the population is the British English. This is an advantage for Troika Dialog as the company shall use English language in its dealings. This is because English is spoken by a majority of the people. Britain has well developed social institutions. The social institutions are well organized and contributors in economic development. These include churches, health institutions, and social schemes among many others. The social institutions form part of customers for the financial sector in Britain. In this case, the social institutions act as boosters of financial institutions in the U.K. 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. In a general sense, the social climate of London stands as one of the most favorable for Troika Dialog. This also applies for many other companies from foreign countries, which are doing business in London or Britain at large. There is heterogeneity in the race, but with good relations. The population is also large and enterprising. This 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 par with other established companies in the industry. The company utilizes information technology in improving service provision to its customers. London is one of the most technologically advanced cities that are utilizing information technology to hasten work. Financial institutions like the Barclays bank have been at the forefront in improving service delivery. As a technology cautious company, Troika has managed to stay afloat in the financial and business sector of London (Martin, Fitzgerald and Ebrary, Inc., 2002).
The financial industry in 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. Strict regulations are being introduced in the capital and securities market of Britain. This is an aspect that has been witnessed in the recent years. This is aimed at offering protection to 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 the financial institutions is growing. In this case, 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 that hires employees from different fields and with different qualifications. The firm is an equal employer and hires people from different cultural divides. However, the individuals to be hired should meet the requirement that meets the needs of the position advertised. The company has employed people in senior and small ranks from different countries. The firm does not rely on expatriate leadership, but on experience in respect to business and management aspects. It gives other firms competition in labor by enticing people who they think have the skills and experience necessary for driving their business to the next level. The management monitors the performance of the workers in their previous position. This informs them on the worthy and value of the employees to the company. However, this works for the senior management positions. The company is still young and growing just like the industry. As mentioned earlier, the industry is still experiencing a high demand in respect to labor. Troika draws its staffs from different fields. The 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 GarushAntonyan, he is an outgoing person with a grasp of communicative qualities that are demanded by employers in the financial industry. He is an undergraduate in business and criminology. He did his undergraduate studies in London. This means that he was aware of business in London, and the U.K. at large. He also studies in Ukraine where he graduated with two diplomas. Since Garush comes from a CIS nation – Ukraine- and studied in London, he 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 most common language in the United Kingdom. On the other hand, there are many foreigners doing business in the U.K. Garush can be resourceful in reaching customers who do not speak English. Garush is quite experienced, especially 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. Therefore, Troika Dialog Company can find this skill in Garush while recruiting other 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 an upper hand experience and a likelihood of eligibility for a job with Troika Dialog London than any other individual. 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. However, his major setback is that he has not directly worked in a financial institution. This could have given him an even greater advantage over other people seeking to work with Troika Dialog. Also, Garush has only studied in London. He has never worked in London, or the U.K. The lack of international working experience can be a hindrance to his prospect of being employed by Troika. In a general sense, Garush is a suitable potential employee in the financial industry as his qualifications and work experience is admirable. 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 them. This can be achieved 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 U.K. In the recent times, the volume of work in the industry has increased due to diversity. The industry needs fresh minds of motivated people. The universities and colleges are major sources where such individuals can be obtained. The young people who graduate from universities have high ego and ambition. Therefore, they are employed within the industry to help in driving organizational change. The senior management staff of Troika is composed of significantly experienced individuals. These are the individuals who have had a working experience in the industry for quite some time. They are significantly familiar with the practices in the industry. Under the senior management, there is 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 the company’s 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 the United Kingdom. The firm has a strong foundation in its mother country. This is because the company has been rated among the top performing firms in the home country. The firm has been able to become a member of the London stock exchange. Since the company is listed on the London stock exchange, it implies that Troika Dialog has a wide capital base. This is a positive pointer of growth for Troika. The fact that the company has a wide capital base makes the company attractive for investors. It has expanded its business in London and molded its image in the financial sector of the United Kingdom. The firm 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 enhanced confidence in firms. They also have belief in the manager who has 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 InternationaleWeiterbildung und EntwicklunggGmbH, 2006).
As the future beckons, there are various actions that the company can take. These are actions that will guarantee the company’s 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. The company will even have a platform or basis of moving into other countries neighboring Britain after it has captured and established itself firmly in the Britain. Such countries include Scotland, France, and Ireland 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 the 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 U.K. market. It should also form its long term objectives; getting outside Europe and capturing the rapidly developing markets in Asia and even other regions like Africa.
Chambers, M and Chambers & Partners 2008, Chambers UK: A client’s guide to the UK legal profession, 2009, Chambers & Partners, London.
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Fleming, A, Bokros, L and Votava, C 2001, Financial Transition in Europe and Central Asia: Challenges of the New Decade, World Bank,Washington, D.C.
Great Britain Treasuryand Great Britain Parliament 2012,A new approach to financial regulation: Securing stability, protecting consumers, Stationery Office,London.
Great Britain2006, European financial services regulation: Seventh report of Session 2005-06, Stationery Office,London.
Hedgeweek 2008, The Hedgeweek Interview: Stephen Cohen, Troika Dialog Asset Management: We are a Russian investment firm, rather than a firm that invests in Russia, viewed 21 May, 2012.
Kantur, Z, Krasnov, E, Noel, M and Rutledge, S 2006, Development of capital markets and institutional investors in Russia: Recent achievements and policy challenges ahead, World Bank,Washington, DC.
Kilner, R 2011, Sberbank and Troika Dialog sign merger agreement,viewed 21 May, 2012.
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World Economic Forum n.d, Troika Dialog,viewed 21 May, 2012.
Analysis of the Troika Dialog London using the Porter’s Five Forces model
The financial industry in Britain is an attractive one. Most of the companies that are in the industry are making profits. The industry is competitive though it has both large and small firms. Large firms dominate the market though they do not monopolize the market. Troika Dialog London operates in a healthy and competitive macroeconomic environment.
Competitive forces in the Britain Finance Industry
Within the financial market of Britain firms offer similar services to a large number of customers. Each firm positions itself in a manner that favors its image in the eyes of its customers. Competition in this industry is giving firms in the industry a reason to be more creative by tailor-making their products and services to meet the needs of customers.
The challenge of substitute products
There are very many services that are offered by firms in the industry. There are banks and other micro and macro-finance firms. The banks offer the same services with other financial institutions. This leads to duplication of services. Many firms are offering similar services to what Troika is doing. The best thing within the industry is that each company has its line of customers who are enticed by specific product or service offering. The higher the number of service offerings by a single firm in the industry, the more economically secure the company is. In the industry, substitute products are seen as part of creativity by firms and act as a challenge to other companies to develop other products for their customers.
Challenge of new entrants
Many new players are coming into the industry. As new players enter the industry, a firm is likely loose its customers to the entrant firm. One way of ensuring that a firm maintains its customers is by establishing strong relations with customers. This bond is enhanced by the kind of services which the customers get from a given firm. Troika Dialog works close with its customers. It has a history of better service delivery which combines with its work to maintain and even increase its customers.
The value of customers
The customers are the major assets of the company. They buy the products and services of Troika. Troika has attached a lot of value to them. Its interaction with customers enables it to come up with suitable services and products for them.
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