Barclays Bank PLC: Analysis of Business Strategy and SBUs - Essay Example

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This paper takes a critical look into the contemporary operations of Barclays Bank PLC and how the bank has survived the test of time. In particular, this essay examines the business strategy of Barclays in London especially as the bank strives to reconstruct its identity and positioning in the European continent. …
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Barclays Bank PLC: Analysis of Business Strategy and SBUs
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Download file to see previous pages Business world has become increasingly competitive to the extent that entrepreneurs are forced to rethink the strategy for survival. This trend cuts across all industries including services service, agricultural, mining and manufacturing industry. On the other hand, customers have developed a trendy attitude for choice, preference and an unprecedented concern for superior customer services (Cornelissen 2004, p.138; Alessandrini et al. 2009, p.18). As a result, both customers and stakeholders are very sensitive to poor services from uncaring service providers especially when there are thousands of competitors who are willing to offer better services. It is on these grounds that bankers have resolved to re-strategize their operations with a view to increase profitability, expand their market share and keep up with the pressure of competition.
The bank has since grown to become an icon in the UK and the world at large with four speciality areas. These comprise investment banking and investment management on one hand. On the other hand, the bank is well positioned in commercial banking and retail baking. These categories constitute the fundamental pillars of Barclays’ business operations as ascertained by Agius (2012, p.8).
In terms of business objectives, the bank aspires to achieve a leading repute as the most dynamic and profitable bank in the world with outstanding benefits and quality service for all stakeholders (Barclays 2011, p.14). In that light, Barclays endeavours to offer financial advice, capital and investment support to its customers and shareholders with the aim to empower its stakeholders in the best way possible. The underlying philosophy to this concept of financial empowerment has seen Barclays amass an estimated customer base of 48 million clients (Diamond & Agius 2011, p.4). Owing to the fact that Barclays is among the top ranking banks in the Unites Kingdom, its operating income for the year 2011 was about ?26.7 billion with a total revenue of ?32.3 billion for the same period. Other financials of Barclays Bank PLC include an estimated total asset value of ?1.564 trillion, equity of ?55.6 billion and net income of ?3.95 billion for the year ended December 31, 2012 (Agius 2012, p.5; Barclays 2012a, p.7). These achievements are attributed to the premeditated organization structure and aggressiveness of Barclays in the UK market. In order to achieve the desired excellence in personalized service delivery, Barclays Bank PLC has refined its operations into three specific divisions. These include Barclaycard for retail services, Barclays Investment for corporate services and Barclays Wealth for shareholders as ascertained by Cleaves (2012). In it is line with the goals of these divisions that Barclays developed a comprehensive package of business strategy that have and will continue to guide its efforts far beyond the infringing economic hurdles of today. Current Barclays’ Business Strategy With the recent exit of Mr. Bob Diamond, the performance ...Download file to see next pagesRead More
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