• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

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

Extracts from this document...

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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. For my business report I am investigating the Co-op erative society supermarket.

    Quality assurance This is a concept based on the fact that everybody is somehow responsible. This emphasizes that all goods and services are produced free of fault or error. This concept also identifies that if all the individuals involved in the process of producing an item are committed and 100%

  2. REPORT ON THE BUSINESS OF MARKS & SPENCER

    Rumours, such as of a launch of a new product by a competitor, can be useful to a business. Research has shown that effective communication requires both formal and informal channels. 18.8 Internal and external communication Internal communication is what take place inside the business of Marks and Spencer, while

  1. The business I am going to set up is a snooker club,

    After the Fixed assets the balance sheet has the current assets of my business listed, these are items that the business expects to have for only a short period of time, these assets are likely to be cashed before the next balance sheet is drawn up.

  2. Business Aims and Objectives.

    There area is very spacious and has over 2000 parking spaces for customers. Tesco is located jus out of the main town centre, therefore this allows easy road access for lorries to come and deliver their stock. The store also has good transport links as it has two major motorways near by (M25 and M11 Junction 4).

  1. Case Study: World Wrestling Federation

    All of the strategies McMahon used to promote the WWF, Turner could easily duplicate them to promote the WCW. 3. The WCW started in the territory that McMahon founded the business before, and the WCW originally was the WWF wrestlers McMahon abandoned in the Georgia territory.

  2. My aim is to research and produce a formal business report on my the ...

    * There are clear definitions of power levels * Reduces and simplifies control mechanisms. Disadvantages of a functional structure * Communication showed responsiveness, many people have to be consulted before a decision can be made * There is too Much paper work and bureaucracy involved * Staff at the bottom may feel isolated from the 'real' bosses.

  1. There are many ways in which business can be organized

    Team members will need to share values and aspirations. They will also need to feel valued by the organization they work for. In task culture, teams will often have considerable input in determining how a particular job will be done. Their views and opinions will be listed. Person culture In a person culture, individuals are central.

  2. In this coursework I need to produce a detailed business report on one medium-sized ...

    to employees in supervisory jobs who, for example may have authority over assembly line workers or staff providing services to the organisation's customers. Organisations with a long chain of command - with a hierarchy made up of many levels of management - are said to have tall organisational structures.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work