Key Issues and Management Theory at Barclays Bank

INDIVIDUAL
ESSAY

Table of Contents
INTRODUCTION...........................................................................................................................1
Q1 Key issue that organization is following and the management theory in reference to it......1
Q2Benefits of CSR practices for an organization.......................................................................2
Q3 Impact of Brexit....................................................................................................................3
Q4 Individual Reflection.............................................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Barclays is a multinational investment bank and financial offerings organization, founded in
London. Thus, this report highlights the issues that the Barclay bank faces and comments on the
management theory adopted by the Bank to resolve those (Burkett.2018). Further, The project
will also outline CSR practices of the company and along with that it will frame the impact of the
Brexit on the Barclay bank.
Q1 Key issue that organisation is following and the management theory in reference to it
Barclay bank is an international finance company that offers different investment products and
services to its customer,However, recently the bank have committed one LIBOR scandal by
manipulating LIBOR to advantage income and to reduce losses from derivative trades.
Further,among 2007 and 2009 the company had made deceitfully low LIBOR submission tax to
suppress marketplace speculation and bad media comments about the firm's viability throughout
the economic disaster (Ashton,and Christophers.2015). Thus, due to this reason the company
have paid $450 million in fines.
However, After the company have settle all their fines, the CEO of the Barclay Bank,
Robert Diamond have resigned from the company and put all the allegations of violating LIBOR
rate on its personnel and named their action as condemnable. Moreover, after the company have
paid fined , another three employees of Barclay bank manipulated the LIBOR and was arrested
by the UK attorney. Further, due to this reason , the company was again fined with $ 2.4 billion
by US authorities for changing foreign rates.
Recently, Barclay bank was also fined by British government of around 70 million
pounds for not following the ethical business practices and committing financial law-breaking
which is ultimately harming the economy of the country (A look at Barclays' recent scandals
and problems.2017).
Management Theory
In order to work according to the business ethical and regulations, the Barclay bank should
follow Max Weber's Bureaucratic Management theory which focuses on structuring businesses
in a hierarchical style with clean rules of administration (Fabrizi, Huan, and Parbonetti. 2017).
However, the company can adopt Weber's standards for developing an ideal bureaucratic
organization encompass a clean department of exertions, a hierarchical chain, separation between