Strategy and Change management- Barclays Bank

The Strategy and
Change Management
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Table of Contents
Executive Summary ........................................................................................................................3
INTRODUCTION ..........................................................................................................................4
MAIN BODY...................................................................................................................................4
Background of the company........................................................................................................4
SECTION 1......................................................................................................................................5
Market Size of the bank...............................................................................................................5
Fin tech use-apps the bank is using..............................................................................................5
The impact of Covid-19 on bank.................................................................................................5
Net Zero target sustainability.......................................................................................................5
Critically exploring the strategy planning process using William’s strategy management model
......................................................................................................................................................6
SECTION 2......................................................................................................................................7
Critical analysis of how the McKinsey strategic change model is being applied to the bank
when dealing with the strategic change.......................................................................................7
SECTION 3......................................................................................................................................8
Development of PESTLE and Porter’s five forces model to analyse the external environment
of bank.........................................................................................................................................8
Porters generic strategies ..........................................................................................................10
SECTION 4....................................................................................................................................11
Recommendations......................................................................................................................11
CONCLUSION .............................................................................................................................11
REFERENCES..............................................................................................................................13
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Executive Summary
In the organization, the goal of change management is to implement strategies for effective
change and to help people embrace change. Change in business is constant and inevitable. This is
categorized as the company’s backbone and helps in the development of specific roadmap that
takes business towards the attainment of set targets. This would help business in having better
strategy which is being prepared with a deeper analysis and by considering the current market
trend in mind. For the report Barclays bank is taken which is UK based international bank. The
report covers market size, fintech use, Covid-19 impact. It also discusses the several strategies in
change management and recommendations are provided for attaining competitive advantage.
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INTRODUCTION
The term strategy refers to a concept of the collection of certain business decisions that are
made by the companies and the actions of which are carried out in order to achieve those
business goals and achieve a competitive position in the market. The development of strategy
includes an involvement of certain micro as well as macro environment analysis such as SWOT
and PESTLE analysis. It also includes other market and industry environment analysis such as
Porter’s five force and other competitive evaluation. The present report involves an analysis of
banking firm which is Barclays Bank that is being situated in UK. The report talks about the
micro and macro environmental factors. The further report also includes bank’s change
management process. At last certain recommendations are made to the bank dependent upon the
issues that are being determined as well as analysed.
MAIN BODY
Background of the company
The UK based international bank Barclays has its headquarter in the regions of London and
functions its operations with two separate divisions that is Barclays international and at UK level
both. The bank is being supported by a different service organisation that is Barclays Execution
Services. It was being founded in year 1690 and presently is being taken care by Nigel Higgins
as the chairman of the whole banking group. It offer services through them and retain banking
branches, investment, commercial, private and wholesale banking. It also offers its services in a
form of wealth management company having its overall revenue of more than 21.766 billion
pounds by each financial year. The bank is speeded across the world and is functioning with a
hard work of more than 83,500 employees across the globe under different divisions such as
Barclays UK, Barclays Corporate bank, Barclays Investment bank, Barclays US consumer bank,
Barclays private bank and Barclays payments. The company has a strong international level
financial stability and other top five positions in the ranking of State Street corporation and Axa.
SECTION 1
Market Size of the bank
The Barclays bank one of the largest bank in UK. It was ranked fifth among the largest bank
in Europe with assets amounting to over 1.5 trillion euros. Its brand value needs to be estimated
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