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Barclays is a UK based financial services group involved in primarily in banking, investment banking, and investment and

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Introduction

Methodology In this project I have been given the task of researching an industry that I have an interest in. There are three sections to this assignment, in which the first part requires me to undertake some secondary research on the sector, which I have chosen. Using secondary information from sources such as reputable newspapers, journals and industry reports with other various sources will help me obtain this information. In the second part of this assignment, I will be identifying the qualities, experiences and qualifications that are required by my chosen sector and this will be linked to the final part of the report where I will be considering the ways in which a candidate can be assessed by a potential employer in my sector. Company overview Barclays is a UK based financial services group involved in primarily in banking, investment banking, and investment and management through its "subsidiaries that include, Barclays Bank, Barclaycard, Barclays Global Investors, Barclays Private Clients, Barclays International and Barclays Capital"1. It is headquartered in London and currently employs about 76,000 people. (http://www.banking-business-review.com) During the fiscal year ending December 2004, Barclays recorded revenues of �20,768 million, an increase of 13.9% over 2003. ...read more.

Middle

It surveys around 500 small businesses, asking them about their relationship with their bank. The survey, which was carried out in 09/11/2004, showed that big banks were "outshone" by smaller rivals in the major bank report. Factors that are taken into account when compiling the performance league table (see appendix 1) for the various banks include competitiveness of interest rates charges, knowledge of industry, efficiency and reliability. Another significant point, which was developed from this survey, was that more than 40 per cent of small businesses banking with Barclays, Lloyds TSB and Natwest had cause to complain.4 (Appendix 1) PEST (STEP) Analysis is a "technique for identifying and listing the political-legal, economic, socio-cultural and technological factors in the general environment most relevant to an organisation at that time".5 Social factors The Sociocultural environment can be defined as the "cultural influences on business which may vary from country to country, factors such as religion, language etc are the Sociocultural factors".6 The demand for convenience in banking is increasing because of changes in lifestyle and values. Barclays has launched almost every single way of banking so far in the market and is currently researching on better ways of banking in future. ...read more.

Conclusion

The local Barclays branch at Brandon, Coniston and Sedgefield will welcome customers of HSBC, Lloyds TSB and Natwest in addition to Barclay's customers, this shows that Barclays is dedicated and open to any changes or any new resolution by any form of national bodies to make business at ease.11 Political factors Barclays has grown from a group of English partnerships to a global bank in Europe, the USA, Latin America, Africa, the Caribbean, Asia, the Middle East and Australia. Over the years Barclays has also kept a strong relationship with UNIFI, a trade union that looks after the interests of its employees.12 As a result of this partnership, Barclays has developed performance and reward schemes to allow employees to share in the success of the company. Barclays has also had to be able to adapt to working within different political systems, for example, its mortgage scheme to suit the customer needs according to Scottish legislations, which are totally different from the ones in England.13 Appendix 1 Bank performance table 1 AIB 70.9 2 Yorkshire 62.6 3 Clydesdale 62.0 4 HSBC 59.7 5 RBS 58.4 6 Bank of Scotland 54.7 7 Natwest 53.8 8 Lloyds TSB 52.7 9 Barclays 52.0 Source: http://www.nottingham.ac.uk/business/news/91.htm 1 http://www.banking-business-review.com 2 http://www.banking-business-review.com 3 http://www.banking-business-review.com/companyprofile.asp?guid=690B1833-5BB1-44B6-866A-FC38B1F7D4E8&alpha=b 4 http://www.nottingham.ac.uk/business/news/91.htm 5 http://www.hjventures.com/glossary-PEST-analysis.html 6 http://www.marketingteacher.com/Lessons/lessonPEST.htm 7 http://www.society.barclays.co.uk/comm_social_inclusions.htm 8 http://www.theregister.co.uk/2005/05/24/internet_banking_oft/ 9 http://www.society.barclays.co.uk/comm_people_with_disabilities.htm 10 www.barclays.co.uk 11 http://newsroom.barclays.co.uk/news/data/535.html 12 www.barclays.com 13 http://newsroom.barclays.co.uk/news/data/264.html ?? ?? ?? ?? ...read more.

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