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Identify and Assess Forces Effecting Changes on Organisations and the Business World.

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Introduction

Module 8 8.1 Innovation and Change Identify and Assess Forces Effecting Changes on Organisations and the Business World. Introduction Change is constantly seen in business activity, it can either be caused by an internal force or an external force, however the main concern of a company is for it to be able to foresee what is going to happen in the future and to be able to change to react to the circumstances. This module is looking at the forces effecting change in organisations and the business world. Change must be accepted by business to be a permanent part of their business activity. In some cases change can be anticipated and therefore planned for, however in other cases it can be completely unexpected. If a business is able to anticipate a change such as an increase in the number of sales in a certain product it is possible for them to produce more of this product rather than running out early, in cases such as this the earlier an increase of demand is seen the smoother the change within the organisation can be managed. It is not possible for business to control external change, however whilst they are able to anticipate plans can be made. There are always changes, which are impossible for businesses and organisations to forecast. A recent example would be the impact of BSE crisis on beef farmers. It is the changes in the external business environment, which are often the most difficult changes for firms to foresee and adapt to. These include things such as new consumer tastes, a rise in competition and new legislations set by government. Anticipated Change Unanticipated change Within Business Control Introduction of new production technology Sudden increase in demand requiring expansion Outside business control Change in pattern of demand due to demographic shift Collapse of a key supplier Business conditions change with every day that passes. ...read more.

Middle

Case study of Major changes in banking. History of Barclays Bank Today, Barclays is one of the most powerful financial groups in the world. But its origins can be traced back to a much more modest business, founded more than 300 years ago in premises close to the Group's global headquarters in the heart of London's financial district. In the late 17th century, the streets of the City of London were filled with goldsmith-bankers, who provided monarchs and merchants with the money they needed to fund their ventures around the world. One such business was founded by John Freame and his partner Thomas Gould in Lombard Street, London, in 1690. The name Barclay became associated with the company in 1736, when James Barclay - who had married John Freame's daughter - became a partner. Private banking was common in the 18th century, bankers would keep their clients' gold deposits secure and lend to credit-worthy merchants. By the 1890s there were some 100 private banks. In 1896, 20 of these companies came together to form a new joint-stock bank. The leading partners of the new bank, which was named Barclay and Company, were already connected by a web of family and business relationships. The new bank had 182 branches, mainly in the East and South East, and deposits of �26 million - a substantial sum of money in those days. It expanded its branch network rapidly by taking over other banks, including Bolithos in Cornwall and the South West in 1905 and United Counties Bank in the Midlands in 1916. In 1918 the company - now Barclays Bank Limited - amalgamated with the London, Provincial and South Western Bank to become one of the UK's 'big five' banks. By 1926 the bank had 1,837 outlets in its own name. The development of today's global business began in 1925, with the merger of three banks in which Barclays held shares, the Colonial Bank, the Anglo Egyptian Bank and the National Bank of South Africa. ...read more.

Conclusion

Telephone, Internet banking and twenty- four hour cash dispensers. Though many jobs have been lost through the closure of all the branches a vast number of jobs have been opened up through telephone banking, with Barclays alone boasting more than twenty- five calls minute. It is often the people who are scared of change who resist to it, though it may inconvenience them at first, in the long run it will benefit them allowing them easier access to their money. History of Barclays innovation since 1959. 1959 - First UK bank to order a computer to revolutionise book keeping. 1966 - Barclays launches Barclaycard and is the first UK bank to provide customers with credit card facilities. 1967 - Barclaycard becomes the first card to offer extended credit and enables cardholders to budget their payments monthly. 1967 - Barclays introduces the first automatic cash dispensing machine in the world, leading the way to giving customers 24 hour instant access to the money in their accounts anywhere in the world. 1982 - Barclays is the first high street bank to offer a special savings account for children. 1987 - Barclays launches Britain's first debit card, Barclays Connect, to enable customers to pay for goods directly through their current account without writing a cheque. 1989 - Barclays is the first bank to abolish everyday transaction charges when customers are overdrawn. 1991 - Barclays is the first bank to enable customers to select the Personal Identification Numbers on cash dispenser cards themselves. 1995 - Barclays is the first UK financial services company to go on the Internet, providing information to a world wide audience. 1996 - Barclays launches Barclays Additions to provide customers with a value added current account. 1998 - Barclays launches the first UK screen phone banking service, Barclays On Screen Services. 1998 - Barclays announces Instant Banking from Barclays to give personal customers instant access to their money. ?? ?? ?? ?? 1 ...read more.

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