Business Research Assignment: Financial Performance

Added on - 06 Jun 2020

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Examine the economic impact of innovation onthe financial performance of HSBC and Barclays
TABLE OF CONTENTSINTRODUCTION..........................................................................................................................31.1Background of study...............................................................................................................31.2 Research aims and objectives................................................................................................31.3 Rationale of research.............................................................................................................41.4 Significence of research.........................................................................................................41.5 Methodology used in the research.........................................................................................5CHAPTER 2....................................................................................................................................6LITERATURE REVIEW................................................................................................................6CHAPTER 3..................................................................................................................................10RESEARCH METHODOLOGY..................................................................................................10CHAPTER 4..................................................................................................................................12DATA ANALYSIS........................................................................................................................12CHAPTER 5..................................................................................................................................15CONCLUSION AND RECOMMENDATION.............................................................................15REFERNECES..............................................................................................................................16APPENDIX....................................................................................................................................17
INTRODUCTIONBackground of studyInnovation is the buzzing word of 21stcentury as it can be observed that it is taking placeat a wide level in the banking field across the globe. Advancement in technology makes bankingoperations more innovative in nature. There are number of banks like HSBC and Barclays thatare upgrading their technology base and providing better services to the customers. Innovationmakes relevant banks different from the competitors. With passage of time banks are giving dueimportance towards upgradation of technology base at the workplace. Huge advancement havetaken place during past couple of years which has changed shape of banking services across theglobe. In the current report detailed analysis in respect to innovation in the business firms likeHSBC and Barclays has been done and a number of areas where they have introduced newtechnology is identified (Akhisar, Tunay. And Tunay, 2015). It can be said that these are one ofthe prominent banks across the globe and play an important role in promoting innovation inbanking industry. Apart from this, in the report innovation that takes place in the last 10 years inUK will be described in detail. Along with this, economic impact that innovation of technologyhas on these firms will also be discussed in detail. In the past years, many researches werecarried out on the innovation that is done by the banking sector firms. It was identified in theseresearches that performance is heavily affected by the introduction of new technology because itenables firm top offer effectual services to the customers at a rapid pace in the short time period.Thus, it can be said that in past lots of innovations have already been done and in future also lotsof improvements can be observed in the same future prospects of the same are high.1.2 Research aims and objectivesAim and objective of research are given below.Aim:To examine the impact of technological innovation on the financial performance of HSBCand Barclays.Objectives of researchReview the progress of technological advancements done by the banking sector withinthe UK for past 10 years.Investigate & published annual reports of the banks, compare yearly statistics to seeperformance rate.3|P a g e
Examine additional outcomes (both positive and negative) which occurred due toimplementation of innovative products/services.Research questionsWhat level of technological advancements took place in the banking sector within UK forpast 10 years?What variations came out in the yearly performance of Barclay and HSBC bank?What additional factors (both positive and negative) are observed due to implementationof innovative features in products/services?1.3 Rationale of researchIt is important to conduct the current research study because with passage of time moreand more banks are upgrading their technological base to a great extent so that better servicescan be offered to the customers Advancement is necessary for banks to enhance customersatisfaction level to a greater extent. In order to do this study broadly it becomes necessary toidentify the developments that happened in the technology base of the nation banks. It can besaid that there is huge importance of the present research study in the recent times (Obay, 2014).Focus of the present study is measuring variations that comes in the performance of banks afterinnovation of technology has been implemented. Another importance of this research is to findout the negative suspects if any are there in respect of implementation of new technology fordifferent entities. From evaluation, it has been assessed that it was necessary condition to explorethe every aspect of innovation of technology. Thus that there are a number of reasons due towhich it becomes important to carry out research related work.1.4 Significance of researchIt is one of the important section of the present research study. Merely preparation ofresearch report is not sufficient, it is very important to communicate significance of research tothe audience. Main significance of this research study is that it to help one in understanding thepositive and negative sides aspects of the innovation that is going on in the banking field. Thus,one can come to know advantages as well as disadvantage that firm and other relevant entitieshave to bear due to innovation in technology base (Reis, Ferreira and Monteiro Barata, 2013).Through this research one will come to know about performance of the banks and its associationwith the firm performance will also be explored. Thus, present research study will help one inidentifying whether there is any relationship between performance of the banks and4|P a g e
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