Key Strategies for Sustaining Competitive Position in Barclays

Business Strategy (top
up year)

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK ..............................................................................................................................................3
Identify at least two key strategies theories, models and conceptual framework and apply them
to your chosen organization........................................................................................................3
Formulate a business strategies for your chosen organization to sustain the competitive
position. ......................................................................................................................................5
Organizational Audit of internal and external factor .................................................................7
Using different contexts with in your selected organization, develop and evaluate at least 2
possible strategies such as porter's generic strategies or porters five forces, compatible to the
organization context. ..................................................................................................................9
CONCLUSION ............................................................................................................................10
REFERENCES .............................................................................................................................11

INTRODUCTION
Business strategies consider as an action and appropriate decision that a organization
takes to accomplish its business objectives and also be competitive in its sector. With the help of
business strategies, organization easily find how to achieve business goals and it also guide in
decision making process so that organization allocate resources successfully. Business strategies
is responsible for planning, controlling activities and also helps in identify the strength and
weakness of the organization so that organization perform effectively in the market. For this
report, Barclays organization is chosen. Barclays plc is a international investment bank of
United Kingdom which providing financial services. Company headquartered in London. This
report identify two key strategies model and formulate business strategies in Barclays company
so that company easily sustain their competitive position. Company use different model for
strategic implementation.
TASK
Identify at least two key strategies theories, models and conceptual framework and apply them to
your chosen organization.
VRIO
It is framework in which organization analyse tools and also design to help and discover
and also protect the capabilities that give competitive advantage for a long period. This
framework is use after the vision statement and before the process of strategic planning. In VIRO
includes Valuable, rare, inimitable, organized. With the help of VIRO model Barclays company
plan and manage their business ( Akter and et.al., 2016).
 Valuable – in this step, Barclays analyse that company offer and provide those resources
which are valuable and Barclays utilize human capital management details to appoint
creative and innovative employees.
 Rare - in this step, Barclays focus on that no other bank use data based employees
management system effectively.
 Inimitable – in step deal with the costly and expensive data based to imitate for the
future purpose. Barclays company need to focus on technologies and software and give
proper training (Günzel and et.al., 2019)

 Organized – in this step, company analyse the importance of management system, and
also consider its process. Barclays mainly focusing on management system and its
structure.
McKinsey 7 -S Framework
This is prominent model to analyse the organizational effectiveness. In this model 7
internal elements of an organization analysed that need to be accomplish and aligned to get
success. Barclays use this model to evaluate the effectiveness of the company. In this model, 7
framework discussed that are given below-
This model analyse this elements in two way -
Hard elements – In this elements, Barclays identify strategy , structure and system and manage
it directly.
 Strategy – In this step, organization plan properly to build and maintain strategies as per
the competitive purpose. Barclays plan and organize the strategies in order to maintain
competitive advantage.
 Structure – in this step, company analyse strategies as per the company structure.
Barclays identify all the process like how it organize department and team as per the
structure (Impellizzeri, Marcora and Coutts, 2019).
 System – in this step, Barclays identify the company system and all tyhe activities that
staff members use to get the work done.
Soft elements – in soft elements, company describe less tangible and more effective
organizational culture.
 Shared Value- This includes core values of the company so that it display the company
culture and daily work ethic. This is also called superordinate goals. Barclays company
use this value to create the effective culture.
 Skills - Company analyse the skills and capabilities of the employees. Barclays focusing
on the work process their employees so that it will give benefit to company.
 Style – Leadership style mandatory for this elements. Barclays give training to their
employees so that their leadership power increase.
 Staff – In this elements, company generally focused on their employees. Barclays bank
giving proper concern to their staff members and employees so that they will help to
generate more profit.