Impact of Globalization on Barclays Bank's Business Functions Report

This report analyzes the impact of globalization on Barclays Bank's business functions. It begins with an introduction defining globalization and its impact on business, particularly within the financial services sector. The report outlines the aim, objectives, and background of the study, focusing on the positive economic, cultural, and ethical impacts of globalization on marketing and human resource functions. It includes a project management plan with details on scope, communication, risks, resources, costs, and time constraints. A Gantt chart and work breakdown structure are also provided. The research methodology section covers the research philosophy, type, approach, data collection methods, sampling techniques, and ethical considerations. Data analysis and interpretation are presented, followed by recommendations and a conclusion. A reflection section is included, alongside references and an appendix.

MANAGING A SUCCESFUL BUSINESS
PROJECT

Table of Contents
INTRODUCTION...........................................................................................................................3
L O 1................................................................................................................................................3
P1) Aim, objectives and background...........................................................................................3
P 2) Project management plan.....................................................................................................4
P 3) Gantt chart and work breakdown structure..........................................................................6
..........................................................................................................................................................8
..........................................................................................................................................................8
L O 2 ...............................................................................................................................................9
P 4) Research methodology.........................................................................................................9
L O 3..............................................................................................................................................12
P 5) Data analysis and interpretation.........................................................................................12
P 6) Recommendation and Conclusion......................................................................................22
L O 4..............................................................................................................................................23
P 7) Reflection...........................................................................................................................23
REFERENCES..............................................................................................................................24
APPENDIX....................................................................................................................................26
INTRODUCTION

The term globalization can be defined as the process of integration and interaction among
companies, people and government across the world. Globalization has been developed due to
advancement in communication and transportation technology. It is also defined as the economic
process of integration and interaction that is related with cultural and social aspects (Beck, 2018).
It has positive ethical, socio-cultural and economic impact on different functions of the business
such as HR and marketing function etc. As the world realizes more and more regarding value
and potential of interstate cooperation, they are making efforts towards mutually benefiting
strategies.
The present research is based on Barclays Bank. It belongs to the industry of financial
services and banking. It was founded in year 1690. It offers a wide range of products and
services such as commercial banking, retail banking, wealth management, investment banking
etc.
The research will outline aim and objectives of the study, project management plan, work
breakdown structure, Gantt chart, research methodology adopted by researcher that involves
research methods, data collection methods, sampling etc. It will also explain data analysis and
interpretation, recommendation and reflection etc.
L O 1
P1) Aim, objectives and background.
Background-
Due to integration and interaction of people, companies and government in the world, it
has created positive impact on the major functions of the business such as marketing, HR etc.
Company should make strategies to improve the level of performance that will help to gain
competitive advantage over other firms. The present study is based on Barclays Bank. It is one
of the most prospective and leading financial organization. The bank is headquartered in London,
UK. It offers all the major banking services. Such as individual banking, investment banking,
institutional banking etc.
Aim-
“To examine the positive impact of economic, cultural and ethical impact of globalization on
marketing and human resource function.-A study on Barclays Bank.
Objectives-
 To determine the concept of globalization.

 To analyse the positive economic, cultural and ethical impact of globalization on
marketing function.
 To evaluate the positive cultural, economic and ethical impact of globalization on human
resource function.
 To recommend the strategies that can help to improve overall performance of Barclays
Bank.
Research Questions-
 What is the concept of globalization.
 What are the positive economic, cultural and ethical impact of globalization on marketing
function.
 What are the positive cultural, economic and ethical impact of globalization on human
resource function.
 What strategies can help to improve overall performance of Barclays Bank.
Scope-
The study involves project management plan. Research methodology adopted by
researcher for conducting study, data analysis and interpretation, conclusion and
recommendation etc.
Justification-
The major aim of the study is to point out the impact of globalization on business
functions of Barclays Bank. The bank by nature is a financial service business therefore, it
cannot remain unaffected by the surrounding trade based trends and traits. The present study will
assist other researchers to conduct research in similar area. It will help other companies to
analyse the positive cultural, economic and ethical impact of globalization on business functions.
Limitations-
The research has various constraints such as time constraint for performing research.
Further, researcher has to incur funds for different purposes etc.
P 2) Project management plan.
Before starting any project it is very important to cover its varied aspects so that
preliminary preparation can be done in proper manner. Researchers usually before starting any
project take in to consideration cost of carrying out project, time within which project will be

completed and resources that are available to carry out project. In the current section varied areas
in respect to research topic are
 Scope: Scope of current research study is wide as it can be observed that current research
topic is “What are the positive economic, cultural, and ethical impacts of globalization on
different business functions within an organization”. Thus, impact of economic, cultural
and ethical impact of globalization on business operations is analyzed. Three factors
economic, cultural and ethics are discussed which reflect that scope of the present
research study is wide.
 Communication: In order to carry out research study both primary and secondary data
will be gathered. In order to gather primary data communication will be established with
the sample units. Personal meeting will be carried out with sample units to obtain their
consent.
 Risk: Risk is that research scope is wide and due to this reason any of research topic
components may remain uncovered to some extent. In such kind of situation research
may failed to achieve its objective.
 Resources: As part of resources few one will be required. Laptop and internet connection
will be required to analyze dataset and gather secondary data for literature review
purpose.
Cost-
The term cost can be explained as the expenses that are incurred to attain a specific
objective of the researcher (Siami-Irdemoosa, Dindarloo and Sharifzadeh, 2015). There are two
types of cost that is variable cost and fixed cost. It consists of all types of financial resources that
are required to finish the project on time. While conducting the study there are various types of
expenses that are incurred by researcher and Barclays Bank. It includes labour cost, quality
control and other factors.
Cost table for the researcher
Particulars Expenses (£)
Expenditure on data collection 200
Expenditure on stationary items 500
Cost of Printing 100

Expenses related with developing
Questionnaire
200
Total 1000
Cost table for Barclays Bank.
Particulars Expenses (£)
Expenditure on research 200
Expenses related with training and
development
600
Fixed overheads 500
Investment 200
Total 1500
Time-
The constraint of time refers to the schedule of project for completion as well as it also
includes deadlines for every stage of the project. Researcher takes different steps for effective
time management like scheduling, planning, monitoring and controlling etc. Planning includes
developing the major aim of the study, monitoring requires researcher to analyse how the
previous phases of the study are being performed. In case of control, researcher communicates
output of each phase of the project. Gantt chart assist to see the timeline of project. Researcher
requires 5 weeks to complete the research in effective manner.
Quality-
The factor quality is somewhat similar to the scope of project. Quality is interlinked with
other constraints of the project. Whatever the type of the study, it is essential to develop certain
standards related with quality. Researcher has adopted certain tools to maintain the quality of
project such as cause and effect analysis etc. It helps researcher to determine the root cause of
problems. It also helps to keep the quality standard high.

P 3) Gantt chart and work breakdown structure.
Gantt chart -
It refers to a timeline that is used in projects to define how the project will move forward
(Gantt and Adamiecki, 2015).

Work breakdown structure-
It is in the form of hierarchical tree structure that helps to outline the study and dividing it
into smaller parts.
L O 2
P 4) Research methodology.
The term research methodology is defined as particular technique that is selected by the
researcher in the process of study to collect, evaluate and assemble the data. It can also be
described as the tools adopted by the researcher to gather details in a specific research study such
as questionnaire etc.
Research philosophy-
The term research philosophy deals with the characteristics, origin and development of
the knowledge. It can also be defined as the belief in respect of the ways in which the data is
gathered and analysed. It is divided into different categories. Pragmatism research philosophy, it
recognizes that there are different ways of conducting research and there may be different
realities (Kumar, 2019). Positivism research philosophy, according to this observation helps to
acquire only factual knowledge. Realism research philosophy, it depends upon the assumption

that scientific approach helps to construct knowledge. Interpretivism research philosophy, it
concentrates mainly on qualitative nature analysis.
The Researcher has choosen Interpretivism research philosophy because it helps to study
the aim of research in depth.
Research type-
There are two types of research that are qualitative and quantitative research. Quantitative
research, it means the organized inquiry of data by collecting quantifiable data and conducting
mathematical, statistical and computational techniques. Qualitative research, it is a scientific
method of observation to gather data which in non-numerical in nature (Bresler and Stake, 2017).
The researcher has used Qualitative research because it provides in depth analysis of data
to achieve the aim of the study.
Research approach-
It refers to the plan or procedure that includes steps of premises to detailed approaches of
collecting data, analysis and interpretation. The approach depends upon nature of research
problem. It is of different types. Deductive research approach, it is related with deriving
conclusions from the premises. Inductive research approach, it is related with development of
new theory that develops from the data. Abductive research approach, the procedure of the
research begins with surprising puzzles and the process of research focuses on their explanation.
The researcher has choosen inductive approach of research because it assists researcher to
investigate the phenomena and identifying themes.
Data collection-
It refers to the process of collecting qualitative and quantitative information on particular
variables with the objective of evaluating the results. It is of two types that is primary and
secondary method of collecting data. Primary data, means the data collected by researcher for the
first time. It is divided into two categories that is qualitative and quantitative data.
Secondary data, means the data which is already published and used by researcher for
conducting researcher. Such as books, journals, research paper of scholars etc (Saunders and
et.al, 2015).
The Researcher has used both primary and secondary data. Under primary data
collection, the researcher has chosen survey method for collecting data from respondents. Under
secondary data collection method, researcher has used sources like books, journals, websites etc.

Sampling-
It can be described as the particular principles that are adopted by the researcher for
choosing a sample from whole population to be involved in conducting the study. The
methodology choose for selecting the sample depends upon the type of analysis to be performed.
Probability sampling, under this all the participants have equal chance of being selected. Non-
probability sampling, it does not depend upon subjective judgement of the researcher.
Researcher has selected 20 employees on the basis of simple random sampling because it
helps researcher to obtain different views of the respondents.
Data analysis-
It refers to the process of examining, transforming, cleansing and modeling data with the
objective of generating useful information. It is divided into two types qualitative and
quantitative data analysis.
Researcher has chosen Thematic analysis under Qualitative data analysis because it
provides flexibility in analysing data .
Ethical consideration-
It can be defined as a collection of rules and values that address the questions of what is
bad or good in conduct of human beings. It is one of the important part of the research.
Researcher has taken into consideration all the ethical considerations while conducting the study.
The participants of the study does not be harm in any manner, researcher has ensured the privacy
of data collected from different relevant sources (Teherani and et.al, 2015).
Literature review -
According to Adekola and Sergi (2016) economic impact of globalization is very high on
the firm’s business operations. This is because in foreign nations business firms spend millions
of amount on research and development which ultimately lead to cost reduction in the business.
Such kind of business makes available products at cheaper price in the domestic market which
negatively affect profitability of indigenous business firms. Thus, it can be said that economic
impact of globalization is very high on the domestic firms business operations.
Contrary to this Surugiu and Surugiu (2015) state that foreign firms do innovation of their
business operations and because of this globalization have positive economic impact on the
business firms that are operating in the nation. This is because of innovation of rival foreign
firms business operations domestic firms also innovate business activities and due to this reason

customers get products at cheaper price. Such kind of thing also promote healthy competition
among business firms. Thus, it can be said that economic impact of globalization is positive on
the business firms.
As per views of Cramer (2017) cultural impact of globalization is positive on the firms
marketing operations. This is because of globalization now people are more aware about each
other culture and due to this reason marketing programs are prepared in better way than before.
Opposite to this Hamilton and Webster (2018) state that cultural impact of globalization
is negative on the business firms. This is because many times people failed to understand each
other culture and consequently marketing campaigns failed to implement successfully in foreign
nations.
L O 3
P 5) Data analysis and interpretation.
The term data analysis means transforming, cleaning and modeling data to generate
useful information that assist in decision-making.
Theme 1: Majority of respondents have knowledge of term globalization.
Do you have any knowledge of term globalization ? Frequency
Yes 15
No 5
Total 20