Mountain Bank

According to Noe, Hollenbeck, Gerhart, & Wright (2011), organizational strategy is a clear definition of how the organization needs to change over time in order to be able to deliver the strategy of the enterprise and an actionable plan of how to make the transformation. Effective planning is very important to an organization’s survival and its ability to stay ahead of the competition. Having an effective organizational strategy is essential because it creates customer value while building and sustaining a strong position in the marketplace. Organizations should carry out human resource planning so as to meet business objectives and gain competitive advantage over competitors (Noe, Hollenbeck, Gerhart, & Wright, 2011). Effective organizational strategy enables an organization to develop an establishment capable of delivering its strategy successfully.

Discuss the Strategies that Mountain Bank should implement to achieve a competitive advantage in the marketplace.

According to Genesys (2000), the retail banking industry currently faces a unique set of business challenges, such as increasing competition from traditional and non-bank sources, a large number of banks are having trouble meeting performance expectations because they are unable to differentiate their business, reach customers likely to respond to new sales opportunities or make the most of their valued staff. In order for Mountain Bank to achieve a competitive advantage, they must implement the cost leadership and differentiation strategies simultaneously. Stewart & Brown (2009) state that organizations with a successful cost leadership strategy usually produce basic and standardized products and services and often have a relatively large share of the market. While Mountain Bank currently has about 50% of the market for retail accounts, they must ensure that their employees are more efficient than the employees in other banking organizations in order to be successful. As customers begin to view...