Strategic Management at Barclys Bank

Only available on StudyMode
  • Download(s) : 226
  • Published : January 30, 2013
Open Document
Text Preview
(i)Executive Summary
This project discusses the Strategic Management process which Robbins and Coulter (2007:240) define as” A six –step process that encompasses strategy planning, implementation, and evaluation”. The project is based on the strategic management of Barclays Bank. The main goal of Barclays bank is to satisfy people’s needs and offer them the best service.

According to Jones and George (2008:308), the SWOT analysis is “A planning exercise in which managers identify organizational strengths (s) and weaknesses (W) and environmental opportunities (O) and threats (T)”. Strengths might include adequate financial resources, economies of scale, and proprietary technology. Weaknesses include lack of strategic direction, obsolete facilities, and lack of managerial depth and talent. Whereas, Opportunities might include the possibility of serving additional customers in the face of weakening competition, or the chance to enter foreign markets due to falling trade barriers. Threats might include the likely entry of new lower-cost foreign competitors, rising sales substitute products, and slowing market growth (Dessler, 2004).

Four important features that lead to the success of Barclays bank are: High quality products, team spirit between the bank’s employees, wide spread global presence and strong management with well educated managers. Although Barclays bank is a highly qualified bank, it still lacks important services and offers like Islamic banking and Drive through ATM. The banks products are not well advertised and so many people aren’t aware of the retail banking offers. The marketing team should promote and advertise more about the products so it could be known by everyone. The banks location is not suitable for such banking environment, and if customers wish to visit the bank they have to stay for long hours waiting for a parking. Barclays bank lacks ATM machines and people living far away from the city could face some difficulties in withdrawing cash. (Ahmed, 2009) The opportunities are wide for Barclays bank. It could invest in more countries and especially the Arab region and it could have more branches in UAE in order to approach more customers and to retain the old ones. The reputation of Barclays bank is well respected and it has won the “Best Retail Marketing campaign” award in the banker Middle East Product awards in 2009, UAE. Although the opportunities are wide for Barclays Bank, it could face some threats, such as the changes in the government’s regulations and policies as well as the increase in the ratio of inflation. (Ahmed, 2009)

Six new suggested strategies will be outlined after a SWOT analysis and mission of Barclays bank are discussed. Strategies are implemented at the corporate level, business level, and functional level.

Table of Contents
Pages
Executive summary …………………………………………………………………..…. (i) 1.0Introduction……………………………………………………………………....4 2.0Strategic Management Process ………………………………………….......5 3.0About Barclays Bank Strategy…………………………….............................6 3.1Barclays Bank History ………………………………………………….6 3.2Strategic planning process of Barclays Bank………………………...7 3.3Mission of Barclays Bank………………............................................7 3.4Vision of Barclays Bank………………………………………………...7 4.0SWOT Analysis of Barclays Bank……………………………………………..8 4.1Strengths…………………………………………………………………9 4.2 Weaknesses………………………………………………………….…9 4.3Opportunities………………………………………………………….....9 4.4Threats ……………………………………………………………...….10 5.0Organizational Strategy of Barclays Bank…………………………………..10 5.1Corporate Strategy…………………………………………………….10 5.2Business Strategy…………………………………………………..…11 5.3Functional Strategy……………………………………………………11 6.0Summary ………………………………………………………………………12 7.0References…………………………………………………………………..…13

1.0 Introduction

Robbins and Coulter (2007:240) define Strategic Management Process as “A six step process that...
tracking img