Business in practice

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Business in Practice
External factors affecting Nat West
Bank
Political – In case of corruption
repercussion leads to resignation of
high level employees, Trade barrier by
other countries or the host countries,
high level of tax.
Economical – Interest rates of the
country, unemployment in country
which means Nat West Bank can
employee people at lower wage rates,
rate of GDP growth.
Social – Age, gender of the
population, educational background.
Technological – Recent technology
adopted by the competitor, diffusion of
technology in other firms.
Impact of Nat West Bank on external
factors
Political – As the bank has adopted
online transaction therefore
government also have to make laws
regarding the same.
Economical- NatWest bank has given
employment to at least 62,900 people.
Social – Educational background
between the bank and the population
or customer, equal pay and policies for
both men and women (Shtal. and
et.al., 2018).
Technological – Has adopted the
digital technology, net banking etc for
the convenience of their customers.
INTRODUCTION
NatWest bank is a retail and commercial bank
in UK. It was established in 1968 by the merger of
National Provincial and Westminster Bank.
CONCLUSION
Internal factors like the strength and
weakness affect the bank and also the
external factors like political,
economic, social and technological.
The bank also impacts external
factors.
REFERENCES
Gürel, E. and Tat, M., 2017. SWOT analysis: a theoretical review. Journal of International Social Research.10(51).
Shtal, T. and et.al., 2018. Methods of analysis of the external environment of business activities.s
Internal factors affecting Nat West Bank
Strength - Strong distribution network, strong brand portfolio, highly skilled
workforce on capital expenditure, successful track record of product
innovation.
Weaknesses – Financial planning is weak, not good at forecasting demand,
need more investment in new technologies, damages brand image because
of controversies related to internal audits (Gürel. and Tat, 2017).
Opportunities – lower inflation rate enable credit at lower rate to customers,
decrease cost of transportation because of lower shipping cost.
Threats – As it is operating in several countries therefore risk of currency
fluctuation, intense competition, new technologies developed by competitors.