Action steps for African Business Schools
2011-05-24 13:56:36 UTC
Case Study: Guaranty Trust Bank of Nigeria: sustaining the vision and values through effective branding
Title
Guaranty Trust Bank of Nigeria: sustaining the vision and values through effective branding
Author
Maklan, S; Knox, S
Pages
19
Product Type
Reference #
504-117-1
Teaching Note
504-117-8
Institute
Setting
Nigeria
Year
2004
Keywords
Corporate brand; Brand values; Vision; Delivery of brand values
Summary/
Abstract
Abstract
The case is about a Nigerian Bank, the Guaranty Trust Bank, which has been established in Lagos on the basis of ethical decision making and high levels of customer service. After 14 years of innovative thinking and uncompromising integrity, the bank is still the fastest growing in Nigeria and has established a strong brand name which is widely trusted and highly respected. The case explores how two senior Nigerian bankers, Tayo Aderinokun and Fola Adeola, develop a vision for an ethical bank and the values to guide and sustain future management and operatives in their bank. The relationship between the vision spelt out by these co-founders, the values now embedded in the bank and the bank's brand/reputation is analysed through the eyes of the co-founders, various senior employees, their competitors and customers. The context for analysis is the bank's 2003 strategic review in which a requirement to become Nigeria's third largest bank is agreed. The bank is currently number 5 and strategies for growth need to be developed without compromising the brand
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