Prepare a strategic management report of approximately 3500 words, Essay

Prepare a strategic management report of approximately 3500 words, which evaluates the structure of an organisation and industry in Turkey.Assume that the audie - Essay Example To improve the overall business environment and effectiveness of the organisation, the response patterns and management approaches are identified. The Central Bank of the Republic of Turkey also known as TÃ ¼rkiye Cumhuriyet Merkez BankasÄ ± has its head office located in Ankara, Turkey and was established as a joint-stock company with the majority of shares belonging to the Treasury. The bank has 4770 employees and is the fundamental centralised bank of Turkey controlled by the government (TCMB history, 2005). The first major bank in Turkey was the Ottoman Bank that was jointly set up with French and British capital in 1856. The Ottoman bank became a state bank and achieved the monopoly of issuing bank notes. Although the Turkish Republic extended the period of privilege of the Ottoman Bank until 1935, a new plan to set up the central bank was under way by 1926. The Central Bank of the Republic of Turkey was established by law 1715 which was enacted on June 11, 1930. The central bank had the privilege of issuing bank notes and this remained its monopoly for 30 years (TCMB, retrieved 2005). The privilege was further extended in 1955 and was extended indefinitely in 1994. The main aim of the bank was to support the economic development of the country so the bank was entrusted to the following duties and responsibilities. Several changes were made to the central bank law with the introduction of economic development plans for Turkey during the 1960s. The law 1211 restructured the responsibilities of the central bank and implemented the financial policies within the framework of developmental objectives of the country (TCMB, 2005). The organisation chart shows that the general assembly is subdivided into an auditing committee, the governor and the board. There are four vice governors who oversee the different departments of the banking divisions. Within each of these divisions there are management departments and