Business Strategy: Barclays Bank

This document provides an overview of the strategic planning process at Barclays Bank, including mission, vision, goals, and core competencies. It also discusses the factors considered while formulating strategic plans and the effectiveness of BCG and ANSOFF matrix models. Additionally, it covers the environmental audit of the organization and the significance of executing stakeholder analysis. The document is relevant for students studying business strategy or related subjects.

Business Strategy

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
1.1 Strategic Planning at Barclays bank......................................................................................1
1.2 Factors considered when formulating strategic plans...........................................................2
1.3 Effectiveness of BCG and ANSOFF matrix models.............................................................4
Task 2 ..............................................................................................................................................4
2.1 Environmental Audit of the Organisation.............................................................................4
2.2 Organisational Audit for Barclays Bank...............................................................................5
2.3 Significance of Executing Stakeholder Analysis when formulating new strategy at Bank. .6
Task3 ...............................................................................................................................................7
3.1 &3.2 Possible alternative strategies for the Organisation ....................................................7
Task 4 ..............................................................................................................................................8
4.1 & 4.2 Outlining an implementation plan for the chosen strategies.......................................8
4.3 SMART Targets implementation and Importance................................................................8
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Business strategy is a very important part of any organisation. It helps the organisation to
attain its goals and objectives. It basically means a plan which is made by top level management
of the companies and implemented by the middle level managers under the guidance of their
immediate authorities.
For this assignment, Barclays Bank has been chosen which is a British Multinational
bank and financials service provider in London (Headquarter). In this report, mission, vision,
goals and core competencies of Barclays bank are described. Moreover, factors which will affect
while formulating plans and the BCG and ANSOFF matrix models. The market strategy of
Barclays bank including entry and growth of bank. These are the main subjects which will state
the current policy and the business strategy of Barclays bank and the development of those plans.
TASK 1
1.1 Strategic Planning at Barclays bank
Mission: It is a statement of purpose that differentiates one organisation from another
similar organisation. To attain the mission, Barclays highly focuses on delivering a superior
customer experience and attract, develop and retain talented and performance oriented people.
“Barclay’s mission is to be effective, innovative and customer focused which ensures to
deliver the best products or services for its customers and contribute towards the society by
providing excellent carriers” (Arthur 2013).
Vision: It is highly important for managers and executives to show their willingness on
common vision to achieve . Basic question that needs to be answered “What do we want to
become?”. Many organisation has both mission and vision but the priority should always be the
vision statement which should be established . They are aspired to be amongst the most valuable
and admired financial services companies and want to be that company which becomes a
benchmark for all others. “Barclays have a vision to be the world class leading company in
financial services”.
Objectives: Most organisation needs to justify their existence, be legitimate in front of
Govt., customers and society at large. Objectives are two types-tangible and Intangible.
Achievable aims and targets are called tangible and goodwill, employee morale are considered as
Intangible.
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Barclay's main objectives can be stated as to develop in form of well-known business.
Apart from this building close relationship with customers and expand their empire globally
(Baye and Beil, 2012).
Goals: Goals can be stated as the future where the company or an entrepreneur want to
be. So to bridge that gap it is required to meet goals and it should be defined precisely and
blueprint of the bridge that will help them to meet the aims (Håkansson and Snehota, 2016).
“Barclays most important goals are profitability, customer service, efficiency,
confinement and of course the growth of firm”.
Core Competencies: When established effectively core competencies can make staff
members to show their excellent performance. Barclay’s growth and expansion was an attempt to
gain more business operations (Hofer, 2017).
Barclays, in terms of core competencies mentioned that the company does little of
everything to accommodate to almost every individual. For example: The company's takeover of
WoolWich in year 2000, this was an attempt to better its, mortgage banking because WoolWich
was and still the leading bank of mortgage in UK. Barclays Global Investors and its investment
banking operations started in 1986 went international.
1.2 Factors considered while formulating strategic plans
There are several factors which affect the strategic planning of an organisation. To make
an effective plan, firstly we need to understand the factors involved in the planning process:
 Priorities: In most of the companies priority is to generate revenue but this priority can
sometimes interfere in planning process. For example: if planning is in the process for a
large project and all of sudden the prestigious client threaten to take their business into
the competitor level, then there are high chances of postpone the expansion and planning
the project and resolve the client's issue first (Wurster, 2012). So these types of issues
will help in priority rating which will determine the issues of Barclays which needs to be
side-track from the planning of the project.
 Resources of Company: Plans and ideas developing helps the company to grow and
prosper. So it is very important to allocate and use the resources in effective manner for
efficient outcomes. If Barclay's plans does not coordinate with the available resources
then all the planning can go in vain (Peng, Wang and Jiang, 2013). So to avoid that
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evaluation of resources is essential to complete the project, compared to the resources
organisation have.
 Forecasting: It is the major process for Barclays as it bridges gap between the present and
the future where company wants to be. Forecasting sales revenue, materials cost,
personnel costs and overhead costs can help a company plan for upcoming projects.
Without accurate forecasting, it can be difficult to state whether the plan made will be
successful or not or will it be able to develop the company's strength and standings within
the industry.
 Customers and competition: In modern scenario, customer's point of view has changed
vastly as they now focus on quality of products. Earlier customers used to look at price
and then selection of product was done but it has been changed as they now requires
quality only (Welford and Gouldson, 2014). So to fulfil customer's needs and wants most
of the companies brings up new products and services tagged with attractive offers.
Competition is another factor as nower days consumers switches company due to not
being fully satisfied so every company tries to offer new products according to
consumer's choice and that is how competition arises for Barclays.
(Source: Strategic Planning, 2017)
1.3 Effectiveness of BCG and ANSOFF matrix models
Barclays has used the famous Boston consultant Group (BCG) to identify their position
within financial industry and market (Richard, 2014). BCG tool basically puts any entity within a
specific industry in a position based on two dimensions of its market share, which is the amount
or the share of customers that use that specific product; and its market growth which means
growth of industry the business is in. Barclays financial services group had used this tool to
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Illustration 1: Strategic Planning

figure out which is based on cash transactions, market share and industry growth or whatever the
situation is, Barclays had come up with various strategies to ensure that it maintains its positions
in the entire market. At present, it can be said that this company is in maturity's stage due to its
moving into international market few years ago and the fact that industry is not getting any
bigger (Scholes, 2015). Based on the expertise it can be said that they are in cash cow stage (A
stage where venture generates the steady return of profits that far exceeds the outline of cash
required to acquire or to start it).
(Source: BCG Matrix of Barclays, 2015)
Boston Consulting Group can be described as the growth share matrix which is a
planning tool that is used by firm in order to graphical representation of products and services
that are offered by company, this also strategy for the Internet and beyond. Random House
Audio Assets . Accounting control systems and business strategy: an empirical analysis. It helps
in decide what company should sell, keep or invest. It has four major components which are
describes as under:
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Illustration 2: BCG Matrix of Barclays

Dogs: In this those products of company are included which are having low growth or market
share. These products holds very low market share as compared to their competitors. In today's
market scenario each company is having competitors at market place (Zahra and Covin, 2016).
Challenger who have the benefit of having large market share and they are likely to ferociously
resist any attempts to decrease their share of a low growth or static market. Barclays has
similar kind of products as compared to the competitors like Foreign exchange and International
savings accounts which every kind of bank provides to small and even large companies
Cash Cows: This products in low growth markets with high market share. This can be measured
as the most profitable situation for company. In this some products and services of company
provide high range of benefits and profits or these gained benefits are invested into stars in order
to provide future growth for company (Zahra and Covin, 2016). Barclay is mainly providing long
term and short term bank loans and along with that they provide various other products like
Foreign exchange and International savings accounts in order to gain high profit and revenue
for firm.
Stars: This operates in high growth firm and maintain high market share. This can be considered
as cash user and cash generators. This is fundamental component in which company should
invest money. In this those products are involved high growth markets with low market share
(Scholes, 2015). This can also known as problem child, in this firms are investing their money as
they are not able to achieve high growth or high market share just like Barclays who has various
other products which are related to investors like International Investors and many others.
ANSOFF MATRIX:
It can be defined as the structured planning and set of missions which a product has while
manufacturing for market. Four growth alternatives which can be related are;
 Market penetration: This approach can be said as an process in which expansion of
existing market with new products and services offers in the market segmentation and
that is what Barclays tries to do when they target the existing market by low interest rates
and new offers (Zahra and Covin, 2016). For example: Barclays have made various plans
to attract large number of employees like they have created low interest loans, digital
banking usage in ease manner and many others.
 Market development: It can be said as taking new steps into new market like Barclays
can grow into new country where they can expand there business. It is basically a process
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in which various types of tools and techniques are being utilised in order to develop the
market and attract large number of customers. For example: Barclays can open various
branches in other countries with various attractive offers and plans which can in turn
attract large number of customers for utilising facilities.
 Product development: It can be stated as new products and services launched to gain new
customers which every company including Barclays will intend to do (Zahra and Covin,
2016). It is highly essential for a company to develop their existing products and along
with that determine the current desires of market so that new products can be
manufactured as per the desires. Barclays have various products and services which
needs modification over time like banking can go fully digital and opening up of bank
accounts even on Zero Balance can be another way to develop services.
 Diversification: It is a process in which new offerings can be introduced in new and
existing markets for both market and product development. This kind of approach is
being applied by Barclays in order to gain competitive advantage (Zahra and Covin,
2016). When entering into new market, Barclays should analyse the marketplace of
country along with economic condition and as per determination, services can be
modified like In India, it can provide effective services like low interest loans on homes,
loans and many others.
TASK 2
2.1 Environmental Audit of the Organisation
PESTLE: Organisation does not exist in Isolation, they depend on the environment in
which they exist, from which they draw materials and customers to which they supply goods and
services. Good knowledge of external environment can help to improve planning (Scholes,
2015). The external environment can be split into three elements, although these are often
interrelated in practice.
 The Physical Environment
 Social Environment
 Competitive Environment
The Physical and social environment can be further divided into PESTLE factors and they are:
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 Political Analysis: Sustainability of Barclay’s agenda has expanded rapidly. It focuses
on the company's increasing nature of business and made the stakeholders growing
interest in competitive world of business. There are many countries in which yet
Barclays has not set their footmarks. But this can be done only when they realise the
actual needs and wants of customers and thus formulate services according to that. Economic Analysis: Approach to the sustainability program is useful and encourages the
company to be open and transparent to the issues such as initiatives in further research
and development (Seybold and Marshak, 2016). It is highly essential for bank to bring
sustainability element into their organisation so that they can attain growth and success
in effectual manner. Social Analysis: They give importance on the customers and clients such as maintaining
the understanding of their needs and promoting the company by measuring satisfaction.
An ageing group comes with business opportunities for Barclays as pension age
consumers have more incomes and earn higher disposable incomes. For Barclays and
other banks, such a shift means a drive towards savings, investment and wealth
management as a baseline service to meet the needs of pension age customers alongside
credit and consumption services that have been growth drivers in the past Technological Analysis: Barclays uses the means of technology for their business
especially in the areas of inclusive banking (Seybold and Marshak, 2016). Major aim to
help people in fighting against poverty is possible through financial system. The fiscal
innovations with the actual to overturn finance and transubstantiation the international
monetary system presently include block-chain technology, biometrics, robotic
automation and the rise of Fin-tech firms.
 Legal Analysis: There has been incident in the bank that four former senior executives
were charged with fraud by bank as they were dealing with Qatar at the height of
financial crisis (Simons, 2017). The investigation concerns the events surrounding
Barclay’s emergency fundraising and subsequent cash injection from an arm of Qatar’s
sovereign wealth fund, Qatar Holdings. There are many cases which has been faced by
this bank like scandals, lawsuits.
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 Environmental Analysis: Barclays also realise the current tendency in consumers and
governments rigorous businesses to trimming their carbon foot print. In its 2015
Citizenship Plan, the bank pledged to reduction its own carbon foot print by reducing
energy ingestion mainly through sustainable evolution funding and carbon-offsetting
initiatives.
SWOT analysis of Barclays bank:
Strengths
 High Brand Name is present of this as
it deals in many countries and have
large group of customers.
 Large number of Branches and ATM
are also present due to its large number
of branches present oversees (Teece,
2016). Innovative business Process is being
adopted by this company so as to attract
large number of customers.
Weaknesses
 There is presence of ethical tangles and
thus due to that there are high chances
that Barclays may face many issues.
 High competition is being present and
due that customers can easily switch to
another banks.
Opportunities
 In current Scenario, market place is
emerging and due to that platform of
opportunities is available and thus it
can be availed by Barclays Bank.
 Enhancing knowledge regarding
finance among everyone specially in
youth. There is wider portfolio of services.
Threats
 Branches are being closed down due to
various issues and low market and that
is hampering the productivity and
profitability ratio of company.
 In Asia, position of bank is not so
strong and due to that they are not able
to set their footmarks within Asia
(Vickery, Droge and Markland, 2015).
 Major threat for Barclays Bank is
economic stability.
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2.2 Organisational Audit for Barclays Bank
Porter's Five Forces: Barclays is attempting to expand their business and services and
research on new market and its potentials. Sustainability of Bank can be identified by the
investigation of competition. The Porter's analysis is used to measure the capability of firm
performing in the international market. Five porter’s models which has impact on business are: Entry Barriers: Emerging markets such as India and Africa that are highly regulated by
the Govt. and central banks have the high chances of entries. In countries like India and
Africa, people invest more in government bodies and central banks. Control and
decisions are operated in the banks of these countries that might regulate the interests on
loans and deposits as well as controlling money supply (Simons, 2017). So Barclays bank
has the opportunity to take the advantage to implement quick and efficient service that
can attract other potential clients. High Competition: Involvement of Public and Micro finance institutions highly indicates
competition in market (Welford and Gouldson, 2014). In terms of Barclays it is difficult
to compare due to high regulations and that create an advantage of acquiring the major
stakes in market giving them easy entry and create goodwill. Bargaining power of suppliers: In order to attract large funds, private banks offer high
interests rate for the continuous sustainability of Bank. In addition, Barclays Card is
introduced to attract more clients and increase volume of funds. Bargaining Power of Customers: High power among the people in terms of utilizing
products such as their cards, loans and other services (Wurster, 2012). High power on
customers is gained because of the numbers of banks operating in the market that offer
similar services. However, Barclays is in advantage because of E-Banking and provided
Insurance Services.
 Threat from Substitutes: Banks offering the same services are aligned in the same agenda
because of the similar services, although different in terms of interests and payment on
credit. Thus, Barclays is seeking to compete from unconventional companies which can
give them rate of return. Apart from that there are various similar services which are
being provided by other banks like low interest loans and other financial services .
(Teece, 2016).
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2.3 Significance of Executing Stakeholder Analysis when formulating new strategy at Bank
Stake-holder's Analysis is important for development of knowledge and understanding
about other organisation in the enterprise's environment (Business strategy, 2017.). First step is
to make a list of all stakeholders, and then position them on a stakeholder map. This indicates the
main relationship between stakeholders and interdependence's pattern.
Significance
Barclays knows interest of their stakeholders when looking for challenge and affecting business
decisions. Stakeholders try to maintain confidentially when requested by Barclays. To provide
proper service to their stakeholders Barclays had formed various committees to look after
internal and external stakeholders but when it comes to new planning stakeholders are involved
in every group or sector like Barclay's compliance team works with internal and external
stakeholders to advice on litigation affecting the global group's activities and assets. The
corporate development team plays a huge part in supporting Barclays plans for global growth,
advising on mergers and acquisitions, strategic alliances and joint ventures ((Simons, R., 2017)).
The corporate team protects Barclays trusted reputation, ensuring both international audiences
and internal colleagues are kept informed of the group's news and objectives. For accurate
information to stakeholders in board meetings finance department monitors budgets of Barclays.
Thus it supports that stakeholders in improving the handling of its members because they provide
constructive feedback on performance systems and ideas for enhancement of Barclays value
chain.
Benefits of using stakeholder approach are like shaping of project and making it
successful with the help of powerful stakeholders and gaining there support and resources.
Stakeholder is a powerful tool which should be used properly and not only usage but also
maintaining relationship with them is highly important. After creating stakeholder tool it comes
to communication with them which starts from identifying them and their power. Secondly,
giving them priority according to position and power (Hofer, 2017). It is highly important to
know their reactions towards project as it allows to communicate in better way and also
minimise chance of conflict arising.
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(Source: Stakeholder Analysis, 2016)
There are two main stakeholders which plays an essential role in company and they are:
 Customers: For a business like Barclays, it is highly essential to maintain the interest
level of within company because they are the main source through which company earns
most of their revenue (Hofer, 2017). So it is required by cited firm to generate effective
and attractive services through which large number of customers can be grabbed.
 Employees: For a company, employees are just like tyres to car without which it is not
possible to run and grow (Peng, Wang and Jiang, 2013). So it is highly essential to
determine the actual needs and wants of employees and thus satisfy them by various tools
so that long lasting relationship can be maintained.
 Managers: In the each and every organisation, they plays vital and important role in
success and development of company (Richard, 2014). Main role and duty of manager is
to provide effective training and development to their employees so they can complete
their all works and functions in an effective and efficient manner.
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TASK 3
3.1 & 3.2 Possible alternative strategies for the organisation
There are several strategies which helps in management of business process and functions of
firm in effective manner. Barclays is a multinational bank which provides different types of
services and product across the globe. They provide financial services to the companies and an
individual with effective rate of interest. Bank will develop more strategies and plans which will
attract customers and in return enhancement of growth and development (Hofer, 2017). For more
productivity bank can provide different financial services with attractive offers to big as well as
small companies who want to grow and be in competition market. Strategies which are discussed
as below:
Market Entry: To increase profitability and development an organisation can target their
customers as well new market. Business expand should be done in large market share by opening
new market stores across globe (Simons, 2017). For example: This will not only generate
revenue but also will increase goodwill and it will therefore attract new customers (Anderson and
Zeithaml, 2015). More gates to new opportunities will be opened and after establishing properly,
Barclays can step their foot into new sector.
Sustainable Growth: A company like Barclays bank can manage their interest rate
vertically and horizontally. In this, they can provide cheap services to their clients. It also helps
in determining revenue of firm which provide growth and development. This strategy discuss
about two concepts which are acquisition and merger (Baye and Beil, 2012). For example: when
company has more resources to invest as capital and expand, then only it is used. After sufficient
resources , Barclays can acquire small firms which has high chances of getting growth and can
merge with other huge banks so as to increase productivity and performance (Arthur, 2013).
Limited Growth Strategy: It is an effective strategy used by an organisation and does
not contain much resources for development which is used for reducing consumption of
resources. For Example: Barclays Bank, this strategy is appropriate as it will help them to
enhance their capabilities with ethical approach (Baye and Beil, 2012). Barclays will use join
ventures as a method to enter into new market which will allow to gain more market share with
minimum resources.
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Retrenchment: In this type of strategy , company gets dissolvent and thus they have to
sell their assets to fulfil their debts. In this type of situation firm are forced to shut down their
operations and organisation (Seybold and Marshak, 2016). That is not what Barclays will ever
opt for as they have rapid growing graph of revenues and not only that, they have millions of
customers associated with them (Håkansson and Snehota, 2016).
TASK 4
4.1
The main focus of Barclays is linked with selection of best and effective strategies by
which they can easily expand their financing operations. Barclays have analysed the overall
situations of market where their banking operations are stronger. They had effectively provided
services to all departments and they have organised various schemes where persons can easily
invest their money in order to save money for future times (Anderson, and Zeithaml, 2015). Thus
they are successful in their operations by expanding their business operations around the
economy. The firms can easily adopt limited growth strategies in order to decrease the cost for
their functional operations and thus increasing their production to lend money to customers. By
adopting this strategy the selected business will use less number of resources by which they can
easily improve their production process. They have an opportunities to expand their overall
activities by entering into new target areas and this results in attracting buyers. Resources which
will be sued in implementation of chosen strategy are:
 Human resources: Most important part of any strategy is human resources as through this
only implementation is possible. Human resources can be stated as the employees or staff
members contributing towards company's excellence. Human resources is needed to
perform task and achieve aims and objectives.
 Time: It is an essential factor as every thing has deadline and specially when it comes for
completion of project or tasks time is very essential factor as if allotted work is not
completed on time then client may reject the project and thus goodwill can be harmed.
Regarding strategy, implementation and completion should be done on time for better
outcomes (Arthur, 2013).
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 Finance: Finance is the backbone of any company and planning within organisation as
without it no materials can be purchased for final outputs and thus task completion would
be incomplete. So while applying strategy finance and budgets should be made for
successful plans.
4.2 Outlining an implementation plan for the chosen strategies
Role of management in implementing business strategies are as follows:
Top management: They are the top most level authority whose major role is to look out for major
decision process which can uplift the goodwill of company and prepare the guidelines which
needs to be followed by workers for effective production and profitability (Baye and Beil,
2012).
Middle Level Management: They are basically said as mediator who connects top level to lower
level. Apart from that, they look out for whole process and monitor each and every operations
and provide ethical modifications (Teece, 2016).
Lower Level Management: This kind of management basically looks out for conduction of
operations and regulate the productivity and profitability.
4.3 SMART targets implementation and Importance
Target or aim set by an organisation is stated as Smart targets. There are some smart
targets fixed by Barclays bank which are specific in nature, measurable with established criteria
that is attainable in time and must be realistic.
Two SMART targets that has been set to implement strategy are increasing dividends to
shareholders so that more fund can be raised next time and to earn trust and maintain long term
relations and minimising the online fraud (Zahra and Covin, 2016). Importance of SMART
targets:
All the efforts will go in vain if targets are not specific which needs to be achieved.
It is not possible to identify the ant leakage if targets are not measurable in accordance with
established targets.
SMART can be explained as:
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S= Specific: It is identify as a defining goals and objectives in specific time period. In this Who
has basic knowledge about project, it should be clear to them. Aims and motive of marketing
plan is defines the current market share of the company, it is 1.5% approx 960,000 accounts of
students. Actual share of the company in marketplace is 8.9%.
M= Measurable: In this business entity measure how far away completion is and know if the
goal is obtainable. In this they Find out when the goal has been achieved. Company measure
their new card that would be innovate will maximise the effectiveness and profitability of clients
accounts by inspiriting buyers to save.
A= Agreed upon: Agreement should be done with stakeholders for attaining goals. In this
objectives and aims of the company towards business stakeholders is to provide better and
effective services of customers in an effective and efficient manner. In this they building better
image and goodwill of the company in marketplace as well as customer's mind.
R= Realistic: In this manager of the business organisation can identify the availability of
resources, knowledge and time. All these are essential and important element for the each and
every organisation in order to increase their sales and revenues effectively.
T= Time based : In this business organisation enough time to attain goal and objectives of
company in limited time period. All project of the business organisation is mainly depends on
time which is essential for them to achieve long term and desired objectives in limited time
period. That means not extra time which may affect project profitability and performance.
If Barclays sets a target which is unattainable in nature will create issues so the target
must be attainable. Targets must be real targets not the imaginary one because that won’t be
relevant to work upon. Target created by Barclays should be completed on time because
everything has time limit and after passing that if even target is achieved, it has no importance
left in market (Wurster, 2012.).
CONCLUSION
From the above report it can be stated that strategy framework are important elements for
every business running in market and their employees. Stakeholders helps in achieving growth
and competitive gains in marketplace. Consistency can be brought by strategies only when work
is executed by all departments and resources. This is beneficial for future in order to conserve
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and usage of resources. SMART objectives are helpful in assigning times to all employees to
complete all task while achieving consistency in their working procedures.
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Online
Business strategy. 2017. [online]. Available through: <http://articles.bplans.com/how-to-
develop-your-business-strategy/>.
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