A Sustainable Business Strategy for a Greener Tomorrow

The provided content explores the concept of a sustainable society and its relation to business strategy, financial executives, and environmental sustainability. The articles discuss various perspectives on environmental sustainability, including the need for transdisciplinary approaches, rethinking management theory and business strategy, and the role of IT-enabled businesses in driving transformation. Additionally, the content highlights the importance of matching business strategy with CIO characteristics and organizational performance, as well as the influence of business strategy on project portfolio management and its success.

BUSINESS STRATEGY

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................2
1.1 Mission, vision, goals and
objectives with the core competencies........................................................................................2
1.2 Factors to be considered while formulating a strategic plan.................................................3
1.3 Techniques used
while developing strategic business plans..................................................................................4
TASK 2............................................................................................................................................5
2.1 Current strategic positioning.................................................................................................5
2.2 Appropriate methods and tools
for environmental audit..............................................................................................................7
2.3 Stakeholder analysis to formulate new strategies ................................................................9
2.4 A new strategy.......................................................................................................................9
TASK 3
..........................................................................................................................................................9
3.1 Alternative strategies.............................................................................................................9
3.2 Justification for selection of
new strategy.............................................................................................................................10
TASK 4
........................................................................................................................................................10
4.1 Roles and responsibilities of personnel in implementing
a strategy..................................................................................................................................10
4.2 Analyse the estimated resource requirements to implement the new strategy....................11
4.3 Contribution of SMART targets..........................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
BARCLAYS is a British banking firm which is a universal bank operating in retail,
wholesale and investment banking, simultaneously with wealth management, mortgage lending
and credit cards. These services are provided by BARCLAYS in over 50 countries where it deals
with 48 million customers. This international bank have been organised into four core businesses
that is Personal and Corporate, Barclaycard, Investment Banking and Africa. It started as a
goldsmith banking business from city of London in 1690 by Thomas Gould and John Freame as
Goldsmith Bankers. BARCLAY also have been primarily listed on London Stock Exchange and
is structured in FTSE 100 Index (Astrachan, 2010). As well as a secondary listing in New York
Stock Exchange. It is the most powerful transnational corporation in ownership context with
having a control over global financial stability and competition with AXA and State Street
Corporation. It have many acquisition across globe which makes it a renown global bank.
BARCLAY is inclined to deliver best customer care services as it consider complains as
a valuable source for feedback also use it to improve the operations of company. This action
ultimately leads to better customer support services and decreases the chances of complaints.
BARCLAYS Bank PLC is authorised by Prudential Regulation Authority(PRA) and is regulated
by Financial Conduct Authority(FCA) and PRA registered in England.
BARCLAY also follows some general principle to provide its client with appropriate
privacy policy. It also provides secured online banking services to customers by providing
authenticated and authorised access to customers. It has become an international organisation in
1925 merging with Colonial Bank (Bharadwaj, 2013). It became the first bank in 1966 to offer
UK credit card.
In current scenario BARCLAY is expanding rapidly taking an acquisition over notable
banks like- Bolithos Bank and United Countries Bank. It have became one of UK's 5 biggest
banks in 1918. it is also first bank to try TV advertising in UK. It also have its share listed in
Tokyo and New York Stock Exchange and the whole 50 % of its profit is made outside the UK.
Hence BARCLAY is a very well known and established bank not only in UK but also across
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globe. It have its existence in many good countries whereby it is generating income which helps
in developing UK's economy.
“A satisfied customer is a best business strategy of all”. This report consist of business
strategy made by BARCLAY to have an edge over market. For this company have to assess
external and internal environment by SWOT, PESTEL and various other analysis which are used
as tools to have information. According to this information company will make strategies and
develop ideas to expand its business (Campbell, 2011). As we know customers are essential part
of business and it is duty of a business to satisfy its customer, to have an access to needs of
customer business have to do various analysis to know what exactly is required according to
which strategies can be formed. So this document consist of all various analysis which can help
BARCLAY to form best strategy to deal with environment it is operating with.
TASK 1
1.1 Mission, vision, goals and
objectives with the core competencies
 Mission is a statement of organisation's philosophy and purpose which tells who we are
and what we would like to become. BARCLAY is a global bank which offers innovative
products and services to meet customer needs and wants. This is the mission of company. Vision is a description of an organisation, corporate strategy, a business, a technology, an
activity in coming future (Casadesus-Masanell, 2010). Barclay aims at growing by
increasing presence in market.
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 Goals is a general direction where a company wants to go which is broad and intangible.
Bank have set goals to meet changing needs of customers, tightening regulation,
technological innovation and fresh competition. Objectives are specific measurable items that are tangible. Main objective of international
bank is to aim high by achieving biggest market share across world.
 Core Competencies is a complex harmonisation of individual technologies and
production skills. Barclay provides best services to its customer across globe which rank
on top (Eccles, 2010). Its competencies is to have an edge at introducing new innovation
to meet customers needs as well as have a lead in market.
1.2 Factors to be considered while formulating a strategic plan
There are many factors which have to be considered while formulation of a strategic plan
in an organisation like BARCLAY. These are listed below:
 Internal factors: Strategies have to be formed according to organisational
structure of a company. Barclays have some ethics, code of conducts and policies
which are to be followed while formulation of strategies.
 External Factors: External factors includes PESTEL analysis of surrounding in
which company is operating its business. Barclay is an international organisation
which has to deal with various culture in different country where it is located so
PESTEL analysis will assist in making appropriate strategy.
 Stakeholders: These are people who have interest in activities of business as they
are associated with it (Elliot, 2011). Their suggestions also help in forming best
strategies as their satisfaction is major objective of Barclay.
 Political factors: Decisions related to marketing of products depends on political
factors of a country so it is necessary to be considered while formulating strategy
for BARCLAY.
 Technological factors: Changes in technology are constant so while making
strategies a company must look after technological factors like- usage of internet,
smart cards, website etc. are mandatory nowadays which affects strategy
formulation.
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 Competitors: Presence of competitors in market gives an impact on strategies as
to have a control over company have to introduce products according to them
which impacts on strategy formulation of BARCLAY.
1.3 Techniques used
while developing strategic business plans
Boston Consulting Group portfolio matrix is designed to develop long-term business
strategy. It also assists business to know where to invest and where not to. This matrix have four
quadrants they are listed below: Dogs: These products have low market share and growth. Question Mark: High growth market and low market share for products. Stars: High growth market and high market share.
 Cash Cows: Low growth market but high share.
Dogs are drain on resources and advised to be removed. There is a risk in question mark
situation as the product may become star or may drop as dog. Star products are market leader and
ongoing investment is required on them (Hahn, 2010). Cow products needs to be pushed
regularly by investing in them without killing them. Barclay can analyse its products according
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to this matrix and can form appropriate strategies for different products. These strategies can be
related to when to invest, where to invest and when to focus on a new business which will help
BARCLAy to get assistance for a new strategy formulation.
SPACE analysis is Strategic Position and Action Evaluation matrix which is very useful
while making strategy for business. It focuses on analysing external – industry attractiveness and
environment stability as well as internal- competitive advantage and financial strength. After
analysing internal and external factors there comes out a strategy for aggressive posture,
competitive posture,defensive posture and conservative posture (Hahn, 2010). Accordingly
strategies can be made by Barclay bank to make strategy for its operation.
TASK 2
2.1 Current strategic positioning
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BARCLAYS organisational audit states its SWOT that is strengths, weaknesses,
opportunities and threats and Ansoff matrix. These factors are illustrated below: Strengths: Brand name of Barclay is very well known everyone knows it which is a
strength of company. In addition to this Barclay have 4500 branches and operations in
more than 50 countries in which personal banking services are also offered. Also it is a
member of global ATM alliance. This bank is heart of innovetion which brought to
existence many new products. Weaknesses: Barclay has faced problems in ethical tangles while providing services in
Zimbabwe as investors started questioning about integrity and ethics of it. Bank also
make high payments to its directors which questions company's reputation (Haley,
2011). Major cost has been incurred when ABM Amro in 2006 has outbid it to enter
Asian market. Opportunities: Barclay have great opportunities in emerging markets. It can also take
advantage of increasing knowledge in youth about investment for rendering services.
There is a chance for company to expand its business by offering wider portfolio of
services. Threats: Barclay have faced problems like- it has to close some of its branch as they
were not customer friendly, it do not have a strong position in Asia as compared to
Europe and the bank also have threat of economic stability as the market position
changes drastically.
Ansoff Matrix:
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It states about objectives of growth and making appropriate strategies. It have four elements and
they are: Market penetration: Company have chosen many tools to increase shares in market with
innovation in product line. Market Development: Barclay is aiming to introduce new products in existing market
and have presence in 50 countries across globe (Li, Y. and Tan, 2013). Product Development: It keeps on introducing new banking services like- personal
banking, internet banking etc.
 Business Diversification: It also make products to introduce in new markets like-
strategies to enter in Asian market.
2.2 Appropriate methods and tools
for environmental audit
Environmental audit of Barclays using PESTEL and Porter's Five Force model analysis is
as under:
PESTEL analysis: Political and Legal: Barclay faces problem in UK as the regulatory environment is
unstable, it have to make donations to support various south African parties, taxes are
levied, a threat to Barclay for raising funds etc. are political issues for company. Economical: It is a reason for growth in UK's domestic product by 0.5%, import cost in
developing is rising which is causing problems in cost management, loan rates and
customer prices have raised in Korea etc. are economic issues.
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 Social: People vary, population differs, cultures are different etc. which is a problem
faced by Barclay in providing services to various people in different countries. Technological: To stay in competition Barclay have adopted many technologies like
website formulation, internet banking etc.
 Environmental: Operating in different country with different needs Barclay faces
problem while adjusting in environment like- it do not have a strong control over Asian
market as company have problems in providing services.
Porter's five Force Model Analysis: Buyer power: They have right to choose bank amongst available so Barclay have to
provide best services to retain its buyer by meeting their needs. Supplier power: Barclay have very few supplier like- Microsoft, PINsentry etc. which do
not impact operations of Barclay (Melville, 2010). Competitive rivalry: The bank have competitors like Lloyds, HSBC and RBS which
might have an effect over operation of company. Threat of substitution: Barclay have threats from substitution in digital currency like
Bitcoin and Litecoin and many other online payment gateways.
 Threat of new entrants: Many new banks are emerging in market which may cause a
problem to share of Barclay as they may acquire penetration by providing more better
services.
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2.3 Stakeholder analysis to formulate new strategies
Stakeholders are people who have interest in activities of business. There are two types of
stakeholders internal and external. Internal stakeholder are manager, employees and owner.
External stakeholders comprises of customers, shareholders, institutions etc. These are very
essential people for an organisation as there preferences are first to be addressed. While making
new strategies Barclay have to take advise from these people as they are key people. This will
help it to make most appropriate strategies for company (Meskendahl, 2010). Customer needs
analysis will help it to form products according to it. Internal stakeholder analysis will help
company to make internal strategies which will help it to improve internal structure.
2.4 A new strategy
On the basis of organisation audit and stakeholder analysis it has been addressed that
Barclay is facing problem to penetrate in Asian market for which new strategy have to be made
which could help it to overcome this. The company must study whole pattern of working in Asia
and in accordance to that it should launch new products. Maybe services provided in Asia might
vary from Europe so it also need to have an edge over it. The bank must aim to provide best
customer care services in Asia in order to have a strong place in Asian market. This will help it
to have new strategy for Asian market penetration.
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TASK 3
3.1 Alternative strategies Market entry Strategies: Barclay can enter Asian market by merger, acquisition and joint
venture. It can merge with other bank which is already having a strong position in Asia, It
may acquire some bank in Asia which is nor performing well and it may introduce its
branch by Joint venture with a company. Substantive growth: This is gained by entering in a market through joint venture,
acquisition or merger (Mithas, 2010). It consist of horizontal integration which means a
company acquires or merge with its competitor and vertical integration means becoming
supplier of your own product in a market and related diversification means staying in
familiar market and unrelated diversification experiencing a totally new market. Limited growth: It consist of market penetration, market development, product
development and innovation. Whichever is suitable for a company that strategy have to
be chosen. Like here Barclay have to penetrate in Asian market.
 Retrenchment: Barclay should cut down or reduce its unnecessary strategy. Like closing
some firms which are not performing well.
3.2 Justification for selection of
new strategy
New strategy for BARCLAY is to introduce its product in Asia by mergers or joint
venture with its competitors in that market which will help it to have an edge in market. Like this
it will introduce its products in Asia which slowly will have penetration in market by providing
appropriate services as the needs of customers (Scholes, 2015). This is best for it to have a
control over market as company will slowly determine how to operate in that market by
horizontal entry which help in entering vertically in Asia further after a proper knowledge. This
will lead to expansion and growth of Barclay's business to build an image over the globe.
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TASK 4
4.1 Roles and responsibilities of personnel in implementing
a strategy
Within an organisation there are various individuals who are involved in implementation
of strategies. Similarly in Barclay this role is played by CEO who is involved in providing vision
to various stakeholders about strategies of company. Leaders are responsible for making
appropriate decision for operations and employees who are working under them, accordingly
implementation is done. In different departments at lower level in Barclay employees are
responsible for implementing strategies (Verbeke, 2013). Ultimately each and every individual is
responsible for strategy implementation in a company like BARCLAY
4.2 Analyse the estimated resource requirements to implement the new strategy
Barclay requires various resources to implement new strategies which to expend its
business in Asian market. List of resources that are required is stated below: Financial resource: It requires financial resources to enter vertically or horizontally in
Asian market. Implementation of new strategy requires a lot of fund specially in
international market same is in Barclay's strategy implementation. Expatriates: Personnel who have appropriate knowledge of Asia market and can get
adjusted in that market have to be appointed for strategy implementation (Wang, J. and
Verma, 2012). So that operation of company can be managed properly.
 Product diversification: Barclay would have to make new product which are according
to need of host country so as to have an edge over market. Satisfaction of customer
demand is first and foremost for company.
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4.3 Contribution of SMART targets
SMART target means a company must have specific targets and goals which have justified
nature, measurable with established criteria, which is attainable in time and is realistic. SMART
stands for smart measurable achievable relevant and time bound targets. By this a company can
direct and lead its people in a specified manner (Woodcock, 2011). Likewise Barclay can have
an advantage from this. There are several importance of SMART target:
 Specification of targets will help company to achieve targets more effectively.
 Measuring targets in advance will help in further study for comparing them with actual.
 Target analysis will help Barclay to know if it is attainable or not which will help
company to reduce wastage of time.
 Target must be realistic as it is impossible to achieve imaginative targets.
 Time limit to a target will help in achievement of it in a specific manner by developing
proper plan which will reduce chances of working on a single target and will give time
for other work in company as well.
Barclay can use SMART target to have justified and appropriate targets which are
achievable on time. This will it have a best investment strategy for the target achievement as all
the factors related to it will be justified.
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CONCLUSION
The above document consist of business strategies which will support Barclay's
operations. It is being concluded that it is very essential for a company to form business strategy
by analysing various internal and external factors. While introducing a new product in market a
company have to evaluate market of host country very deeply to meet demand and needs of
customers. Importance of SMART targets have also been stated in this justification which gives
effective results of using these targets. Various tools like- SWOT analysis, Ansoff matrix,
Porters five force model and PESTEL analysis have also been justified to make appropriate
strategy for BARCLAY bank.
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