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Barclays - How an existing business runs from day to day.

Extracts from this document...

Introduction

Introduction I have been asked to produce a report and investigate how an existing business runs from day to day. This includes the organisations aims and how the culture and style of the business helps to achieve this through modern technology. I have chosen to use Barclays as my organisation as I am currently one of their customers and wish to study a well-developed and successful organisation. History I wanted to gain knowledge of how Barclays became about being the successful organisation it is today, so I researched into its history from over 300 years ago. John Freame and his partner Thomas Gould in Lombard Street, London in 1690, founded Barclays. The name Barclay became associated with the company in 1736, when James Barclay - who had married John Freames's daughter - became a partner. Private banking businesses were common in the 18th century and by 1890 there were some 100 private banks. In 1896, 20 of these banks merged to form a new join-stock bank. The leading partners of the new bank (which was named Barclay and Company) were already connected by a web of family, business and religious relationships. The company became known as the Quaker Bank, because this was the family tradition of the founding families. This new bank had 182 branches, mainly in the East and South East and deposits of �26 million, which was a substantial amount of money. It expanded its branch network by taking over other banks. In 1918 the company - now called Barclays Bank Limited - amalgamated with the London, Provincial and South Western Bank to become one of the UKs big five banks. By 1926 the bank had 1,837 outlets in its own name and was administered separately until 1940. Barclays global business began development 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.

Middle

There are many benefits of this type of decision-making. The Directors have an overall knowledge of the business and are aware of the external and internal influences that are to affect individual apartments. Whereas if responsibility is given further down the organisation then they will probably place too much emphasis on departmental interests, rather than the business as a whole. Having the responsibility put on a few people will make the decision making process quicker, as there are not as many people to consult on which actions to take. Centralisation maintains focus on important issues. But since the workforce further down the structure are not consulted, this will not motivate them to feel dedicated to achieving objectives in an organisation where they do not feel valued. Whilst there may be a wide range of experience and knowledge where the power lays, the workforce are at the front line of the organisation and see what goes on everyday. They have more experience in dealing with customers, and some could very well have ideas that may be of use to the top of the organisation. Decentralisation If the authority of decision-making is delegated down the line to managers or supervisors then this is said to be a decentralised organisation. This could be because there is a lot of responsibility and sharing it out will get the process done quicker. This will give many members of the workforce motivation, self-esteem and job satisfaction, as they are able to influence the decisions of others. This however makes others accountable for the decisions they make. This type of structure may be because senior managers are unable to cope with all the decisions that have to be made. Having this type of style avoids any confusion and mistakes that may have been caused through passing through many layers of management. Managers in relatively junior positions are close to the action, often with first-hand experience of dealing with customers. ...read more.

Conclusion

How ICT helps with Business performance Information technology has a major effect on organisations in the present day. Barclays want to be a faster and their strategy is to offer its customers as many routes as possible for doing their banking. While the bank continues to recognise that some people prefer face-to-face contact, a lot of work has been done on electronic means of access. Faster To enable quicker forms of banking for its customers, Barclays has introduced Barclays B2B.com. The first of its kind in the marketplace, where it offers a wide range of internet-based business services for its corporate customers. It provides an e-marketplace for buyers and suppliers to meet and transact, enabling access to new markets. Furthermore this enhances the external communication of Barclays, helping suppliers and customers to keep in touch and to communicate. Smarter Barclays aims to be smarter, and is trying to accomplish this. Barclays wants to offer customers as many ways as possible to do their banking. So they introduced a creative response to customers needs. Barclays recognised that those customers who do prefer face-to-face contact, can now do so. Personal customers can now withdraw cash and pay in money and cheques at over 15,000 local post offices throughout England and Wales. This has been welcomed in smaller communities as the service makes banking more convenient and local post offices more practical. Bigger Technologies such as interactive TV and WAP mobile phones are also available to Barclays customers. To show the increase in transactions, for every five transactions, one is now completed online. These figures show that the technological world is getting bigger. an evaluation of an alternative approach to quality control or quality assurance and the effects it could have on the functions of the business and how it achieves its objectives. A2 Currently Barclays adopt a self-checking and inspection method when ensuring a quality assurance. I have explained how this works by recording exactly who goes into which branch and who is serving them. Then this is followed up and the customer is questioned on the service that they received. ...read more.

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