1 Running Head: Case Analysis Assignment #2 ContiGroup Inc. PAGE 4 Case Analysis Assignment Citigroup Inc. Introduction Citigroup Inc. was founded in 1812 by Samuel Osgood in New York City. To this day, the organization’s headquarters remain in its initial foundation however, the company has grown from its humble beginnings of a mere 2 million dollars in assets to a market capitalization of 162 billion dollars as of 2014. (David & David, 2017). Operating in more than 160 countries with over 900 million retail accounts and more than 250,000 employees in total, Citigroup is currently known as the “world’s largest credit card issuer and largest banking enterprise” (David & David, 2017). However, Citigroup has faced significant issues in terms of how it has been perceived by the US government, specifically regarding the bailouts and ethical issues surrounding the implications of Citigroup’s actions on the overall worldwide economy. Mission Statement Citigroup’s current mission statement has been defined as follows, “Citi works tirelessly to serve individual, communities, institutions and nations. With 200 years of experience meeting the world’s toughest challenges and seizing its greatest opportunities, we strive to create the best outcomes for our clients and customers with financial solutions that are simple, creative and responsible. An institution connecting over 1,000 cities, 160 countries and millions of people, we are your global bank, we are Citi” (David & David, 2017). Overall, this mission statement seems to be very detailed and effectively structured, as it outlines the reach of the organization as well as their accumulated experience and the sheer scale, number of employees and customers. However, perhaps what is missing from this statement is the concept of the causes that Citi cares about and what they are dedicated to/how they define themselves. New Mission Statement The new mission statement has been developed as per the textbook format (David & David, 2017). Citigroup serves a global (3) customer base, in over 160 countries (1). We provide “global banking, advisory services, derivative services, brokerage, mortgages and auto loans” (2) (David & David, 2017). Citigroup employs over 250,000 people and continuously invest in their career development and ensure that they provide the best services to our customers (9), representing values of professionalism and care (7)(6). At Citigroup, we are constantly innovating, leveraging technology (4) and striving (5)(6) to “create the best outcomes for our clients with financial solutions that are simple, creative and responsible” (David & David, 2017) (8). Vision Statement Currently, Citigroup does not have a defined vision statement (David & David, 2017). New Vision Statement Citigroup’s vision is to leverage our 200 years of experience to create and develop industry-leading, revolutionary and innovative financial solutions for our clients around the world. SWOT Analysis ...

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Running Head: Case Analysis Assignment #2 ContiGroup Inc.
PAGE
4
Case Analysis Assignment Citigroup Inc.
Introduction
Citigroup Inc. was founded in 1812 by Samuel Osgood in New
York City. To this day, the organization’s headquarters remain
in its initial foundation however, the company has grown from
its humble beginnings of a mere 2 million dollars in assets to a
market capitalization of 162 billion dollars as of 2014. (David
& David, 2017). Operating in more than 160 countries with over
900 million retail accounts and more than 250,000 employees in
total, Citigroup is currently known as the “world’s largest credit
card issuer and largest banking enterprise” (David & David,
2017). However, Citigroup has faced significant issues in terms
of how it has been perceived by the US government, specifically
regarding the bailouts and ethical issues surrounding the
implications of Citigroup’s actions on the overall worldwide
economy.
Mission Statement
Citigroup’s current mission statement has been defined as
follows, “Citi works tirelessly to serve individual, communities,
institutions and nations. With 200 years of experience meeting
the world’s toughest challenges and seizing its greatest
opportunities, we strive to create the best outcomes for our
clients and customers with financial solutions that are simple,
creative and responsible. An institution connecting over 1,000
cities, 160 countries and millions of people, we are your global
bank, we are Citi” (David & David, 2017). Overall, this

2. mission statement seems to be very detailed and effectively
structured, as it outlines the reach of the organization as well as
their accumulated experience and the sheer scale, number of
employees and customers. However, perhaps what is missing
from this statement is the concept of the causes that Citi cares
about and what they are dedicated to/how they define
themselves.
New Mission Statement
The new mission statement has been developed as per the
textbook format (David & David, 2017). Citigroup serves a
global (3) customer base, in over 160 countries (1). We provide
“global banking, advisory services, derivative services,
brokerage, mortgages and auto loans” (2) (David & David,
2017). Citigroup employs over 250,000 people and continuously
invest in their career development and ensure that they provide
the best services to our customers (9), representing values of
professionalism and care (7)(6). At Citigroup, we are constantly
innovating, leveraging technology (4) and striving (5)(6) to
“create the best outcomes for our clients with financial
solutions that are simple, creative and responsible” (David &
David, 2017) (8).
Vision Statement
Currently, Citigroup does not have a defined vision statement
(David & David, 2017).
New Vision Statement
Citigroup’s vision is to leverage our 200 years of experience to
create and develop industry-leading, revolutionary and
innovative financial solutions for our clients around the world.
SWOT Analysis
Strengths
Perhaps Citigroup’s most prominent strength is their sheer scale
and size. The number of clients and revenues they bring in

3. provides them with significant leveraging power, thus
empowering the organization to achieve its objectives and
pursue its various goals. The organization is truly can be found
in over 1000 cities and 160 countries (David & David, 2017). It
is currently known as an industry leader, as the “world’s largest
credit card issuer” and the “largest banking enterprise in the
world” (David & David, 2017). In addition, the revenues for
the firm increased by 2 percent in 2015, in comparison to 17.8
billion as of the last year (David & David, 2017). Thus, in
terms of scale, Citigroup has clear strengths and significant
competitive advantages. Another strength that Citigroup has is
its historical importance and value to the citizens of New York.
As it was founded in 1812 by one of the founding fathers of the
United States and the fact that the bank played instrumental
roles in the development and advancement of America/New
York over the years, it is clear that the organization holds a
special place within the community and is recognized for its
200-year longevity (David & David, 2017). In addition, in terms
of strategic planning and organization, Citigroup has been able
to effectively allocate its resources across its various
departments/global locations, while developing key effective
strategies to turn non-profitable business ventures into
successful ones. Some prime examples of these turnarounds are
Citi Holdings and OneMain Financial which were initially
resulting in major losses however through cutting costs and the
divesting strategy, Citigroup was successful in ensuring
profitability (David & David, 2017). Lastly, in terms of the
organization structure of the firm, it also seems to be
effectively managed as each department has been well-defined,
and each CEO has been given a certain level of autonomy and
control over their department, while also being provided direct
support from the general CEO of the Citigroup. Thus, this
eliminates a certain level of red tape and allows things to get
done efficiently and effectively within each department.
Weaknesses
In terms of weaknesses, it is clear that Citigroup has had to deal

4. with a lot of issues surrounding ethics, which definitely impact
their brand image and how they are perceived by the
public/future potential clients. With the bailout from the
government of “half a trillion dollars”, this was perceived as
Citigroup simply stealing taxpayer money and utilizing their
connections in congress for their benefit (David & David,
2017). With these factors being brought up by senators, it is
clear that Citigroup does not have a good reputation with some
of the members of the senate, but also the general public as
these facts clearly portray an image of a firm that does not
display the highest values of ethical judgement (David & David,
2017). From investigations in “manipulation of a key interest
rate, anti-money laundering, falsified invoices, failing stress
tests and fraud in oil services”, it is clear that Citigroup has
been significantly neglecting their ethical responsibilities and
thus, failing to implement proper ethical practices within the
firm (David & David, 2017). These investigations and
allegations have not only caused the organization to incur
billions of dollars in charges, thus resulting in significant
financial losses but also can result in a negative perceived
public image and perhaps even drive away
shareholders/investors and existing/potential clients.
Opportunities
There are many opportunities that Citigroup can seize in the
market today. Firstly, online banking is becoming more and
more of a trend and is a growing market space. Due to its
relatively new market space, this should not be perceived as a
threat bust as and opportunity since Citibank has not only the
funds and scale, but also the existing client base and human
capital/talent to develop a strategy to enter and dominate this
particular market (David & David, 2017). Another opportunity
is more global expansion and into markets that are growing and
have potential.
Threats

5. There are many significant competitors in the same industry as
Citigroup, and they also have similar competitive advantages as
well as client bases that can be leveraged for their benefit. The
main rivals have been defined as J.P. Morgan and Bank of
America (David & David, 2017). As the case study notes
“Citigroup trails both J.P. Morgan and Bank of America on
every statistic presenting, except total number of employees,
with all three banks roughly equal on employment numbers”
(David & David, 2017). This is a highly concerning factor as
Citigroup not only needs to improve these statistics (revenue,
net income, revenue/employee, EPS ratio, Market
Capitalization) through growth mechanisms or investments, but
they also need to define a sustainable competitive advantage,
that makes them stand out from their competitors in the long run
(David & David, 2017). In addition, it is also important to learn
from competitors as well. J.P. Morgan also suffered issues with
the subprime mortgage lending crisis and is currently doing
damage control by paying aid to consumers, while also helping
out low-income homeowners (David & David, 2017). Another
issue the organization faced was in terms of a data breach,
which was immediately dealt with by allocating significant
funds to the security measures in the future (David & David,
2017). Thus, it is clear that damage control and mitigating risks
is something that Citigroup can learn from its competitors, and
perhaps apply to its own ethical issues as well. This shows the
public that they acknowledge their mistakes and are willing to
improve and make a difference. In addition, the data breach
issue is also a threat to all banks and thus, Citigroup should also
consider implementing protective measures in order to avoid
these risks and consequences (David & David, 2017). The
threat of technology also applies to the credit card industry, as
increasing methods of mobile payments and the concept of
“bypassing banks” has become increasingly popular by
corporations like Apple and Google (David & David, 2017).
This poses a huge threat to banks like Citigroup, and thus they
need to take action in terms of their credit card fees and also

6. deal with the threat of mobile payments in order to ensure that
their credit card business does not go into decline.
BCG Matrix
Stars
· Commercial Banking
· Credit Card Industry
Question Marks
· Citi Holdings
Cash Cows
· Global Consumer Banking
Dogs
· One Main Financial
SPACE Matrix
FP
CP
IP
SP
The SPACE Matrix for this firm is a conservative profile
because it is a “firm that has achieved financial strength in a
stable industry that is not growing, the firm has a few
competitive advantages” (David & David, 2017). This applies
directly to Citigroup simply because they have achieved market
domination, the industry is stable but the firm does not stand
out as much in comparison to its competitors such as J.P.
Morgan and Bank of America as discussed prior in the
“Threats” section of the report.
Recommendations/Conclusion

7. Overall, it is clear that Citigroup is in a fast-paced and dynamic
industry. With its level of revenues and assets, it is clear that
the organization has the resources to pursue strategies in order
to ensure market domination. Dealing with the incoming threats
such as the credit card industry, online banking as well as
damage control for their public image in terms of ethics has
been discussed throughout this paper. However, another
recommendation is for the organization to consider defining
itself by a firm that also gives back, this was something evident
in the beginning years of the corporation but has seemed to be
lost during these years. Writing the vision and mission
statement was difficult in this regard as Citigroup does not seem
to have significant causes/a defined, core higher purpose they
are dedicated to in terms of giving back to their customer base.
This not only will help in terms of their public image and
perceived customer value, but it will also assist the firm in
defining themselves from their fierce competitors and create a
strong corporate identity as well.
References
David, F. R., & David, F. R. (2017). Strategic management:
Concepts and cases ; a competitive advantage approach.