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The Board of directors of Barclays have asked me to submit a formal business report on Barclays by the 2nd of May. Included will be to analyse of the Macro Environment on Barclays bank and how the environment affects the organisation in the present.

Extracts from this document...

Introduction

1.0 Terms of Reference -> The Board of directors of Barclays have asked me to submit a formal business report on Barclays by the 2nd of May. Included will be to analyse of the Macro Environment on Barclays bank and how the environment affects the organisation in the present. Recommendations will follow the present affect on the Macro Environment. 2.0 Procedure -> Information for this report was obtained from various sources * Used academic texts, journals, etc from the library. * Obtained information from the lecture notes. * Visited Barclays Contact centre located at Wavertree Technology centre. * Used questionnaire to interview the manager at Barclays contact centre at Liverpool. * Referred websites. 3.0 Findings -> Changes in the wider macro-environment may not be as close to the marketing firm's day-to-day operations, but they are just as important. The main factors making up these wider macro-environmental forces fall into four groups. 1. Political and legal factors 2. Economic factors 3. Social and cultural factors 4. Technological factors Often referred to as the 'PEST' factors in the marketing analytical context. To this is sometimes added 'Competitive factors' and although 'PEST' analysis relates to a specific organization 'Competitive factors' tend to be subsumed under 'Economic factors'. PEST analysis examining Political, Economic, Sociocultural and Technological categories into which external influences on the organization can be placed. Political Factors Political factors include government regulations and legal issues and define both formal and informal rules under which the firm must operate. Some examples include: * tax policy * employment laws * environmental regulations * trade restrictions and tariffs * political stability Economic Factors Economic factors affect the purchasing power of potential customers and the firm's cost of capital. The following are examples of factors in the macro economy: * economic growth * interest rates * exchange rates * inflation rate Social Factors Social factors include the demographic and cultural aspects of the external macro environment. ...read more.

Middle

Decrease in deaths and increase in the birth rate over the last few years Barclays have a team to prepare the profile on the older generation and the young generation which will make easier to understand the requirements of the goods and services like will writing for the older entrepreneurs and overdraft facility for the young entrepreneurs. Barclays have carried out research to understand the requirements and expectations of the UK ethnic-minority, personal and small business customers, and the gay and lesbian market. Overall demographics trends have led a new way of banking. Population has always been the social factor, a certain group from population bank with Barclays. To make the customer satisfied culture plays an important role taking this fact into consideration Barclays have employees from all the walk of life and also support in providing employment. Most of the UK SME's operates in the European Union Barclays provides international banking to its business clients to move money around, Barclays also provides Euro help-line for its customers to make banking easier. Barclays together with Salford money line (SML) which operates in Salford provides small, unsecured known as "Getting to Work" loans to start a business. "Fresh Start Loans" helps the local businessman to pay off any debts. Barclays helps the businessman with the business account and an overdraft limit to start business. Recently with the countryside calamity following the epidemic of foot-and-mouth infection, Barclays offered all the farming customers a three-month settlement split loans. For agricultural customers Barclays organised well thought-out seminars and counselling involving local consultants, tax experts, rural planners and grant providers to help the farmers to over come the crisis and carry on with their business. Education has always been the primal factor in the social environment a lots of trends has been noticed in recent years more students have enrolled in higher education which accounts towards full time and part time students (Source: www.hesa.ac.uk) due to which new strategies and new look of banking for students have been introduced. ...read more.

Conclusion

Recommendations --> 1) Government should establish and strengthen the macro-economic for sustained growth with equity. Such an environment should incorporate macroeconomic stability, openness to trade and good governance. To support the positive functioning of globalisation, Barclays need to reform their legal, social and economic institutions and make them more transparent and efficient. In order to compete successfully in the global economy, Barclays must identify and strengthen areas in which they have a comparative advantage while attempting to develop additional strengths. 2) For the benefit of national economic and social development goals, governments should develop or strengthen institutions like Barclays, capable of dealing with transnational corporations. In this regard, adequately trained human resources are of critical importance. 3) Human resources development should be the basis for sustained economic growth because human well-being is the ultimate objective of development. 4) To promote employment creation, governments should simplify regulations and encourage and assist the informal sector. Local Government should encourage the financial institutions like Barclays in solving the employment problem by cutting the local taxes as there will be more funds to provide better training. 5) Barclays is dedicated toward health and safety but in many countries like Africa and parts of Asia like China and Japan where the spread of SARS virus has shown a decrease in the stock market, a reform of the health sector should be carried out in order for it to provide better integrated and efficient services. The objective of health care should be to provide quality and affordable care that meets the needs of clients. Comprehensive reproductive health services should be provided in the framework of broader health care services. 6) As far as technology is concerned Barclays is way ahead of other financial institutions but the cope with the pace of technology a lot has to be done. Barclays operated in many continents from Europe to Africa but the Asian market is still lagging behind the reason for which is Barclays has not launched its internet services to its Asian customers like the other institutions for e.g. HSBC, Citibank etc. ...read more.

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