Barclays Bank: Enhancing Business Skills Through Effective Strategies

This report provides an overview of Barclays Bank, a global financial service provider engaged in retail and commercial banking, focusing on its mission, purpose, and values. It highlights issues faced by the company, such as lower revenue compared to competitors and increasing competition from FinTech companies. The report discusses solutions like online banking and customer-centric approaches, along with marketing strategies including attracting young people, market penetration, product development, event sponsorship, and customer satisfaction. It also covers market segmentation based on customer needs and identifies key competitors. Recommendations include expanding services, increasing cross-selling, and venturing into online banking. The report concludes with a list of references used for the analysis. Desklib provides access to similar solved assignments and past papers for students.

Developing skills for
business

Barclays bank

Barclays bank
 Barclays UK is a personal and business banking franchise with
true scale, built around our customers’ needs with innovation at
its core.
 It comprises our UK retail banking operations, our UK
consumer credit cards business, our UK-based wealth offering,
and corporate banking for smaller businesses.
 With around 24 million retail customers, and almost one million
business banking clients, we are a pre-eminent UK financial
services provider.

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 Barclays will, subject to approval, set up its ring-fenced bank in
the first half of 2018, into which Barclays UK will transfer.

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Mission :
 It is a global financial service provider that is engaged in retail and
commercial banking
 It wants to offer innovative products and services in order to meet
the needs of customer and clients.

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Purpose
“To help people achieve their ambitions accordingly”

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Values
 Respect – we respect and value the people we work with and the
contribution that they give
 Integrity – we act fairly, ethically and openly in everything we do
 Service — we put our customers at the center of everything we do

Issues faced by the company
 In comparison of other banks the same level of revenue is not
earned by this company.
 The HSBC and JPMorgan Chase revenue is more in comparisons
with this company.

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Expectation of consumer
 Today its all about expectation of customers.
 And the pressure is being felt by many banks
 They are not able to deliver the level of service that is expected by
customers

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Increasing competition from financial
competitors
 The popularity of FinTech companies is disrupting the way
traditional baking has bee done

Solution for business need
 Online banking
 Focus on demand of customers
 Use more of technology