Business organisations often try to acquire their customer’s interest and activity from their competitors. To compete with others they have to find out which financial commitment needed to make, which services or products needed to pursuit, which HRM implication needed, which organizational structure need to be adopted in terms of their internal strengths and weakness. This analysis is known as business strategy. According to Johnson et al (2004) business strategy is the path and opportunity of any business or corporation over the long run, which accomplishes benefits in a modifying atmosphere through its settings of resources and competences with the mission and goal of satisfying stakeholder expectations’. Again act upon their new strategy they may have to change their structure, missions, goals, objectives and portfolio of their business. For example my chosen company Barclay’s chief executive Anthony Jenkins said "Barclays is changing." As Barclays cut 3700 jobs and reduced £1.7 bn annual cost, which is accused by Roland, 2013.
As a world leading bank, Barclays bank provides various financial services such as investment banking, commercial banking, personal banking, credit cards, wealth and investment management services. The company is headquartered in London, England, UK. And a strong presence in USA, Europe, Asia and Africa It is now spreading in different countries in the world. Be one of the world’s best leader and universal banks in the financial services sector is the aim of Barclays bank. The company follows the strategy of anticipating the needs of the clients and the customers and serves them by offering a whole range of services. (Barclays, 2013).
Business type and sector : Public Limited Company in banking and financial services
Founded : 1690 (London)
Operational area and headquarters : Globally operated and headquarter is in 1 Churchill Place, Canary Wharf, London, United Kingdom
Key people : Sir David Walker (Group Chairman) and Antony Jenkins (Group Chief Executive)
Products : Retail banking, Commercial banking, Investment banking and Management
Revenue and operating Income : £24691 billion (2012) and £0.246 billion (2012)
Net income : 40.236) billion (2012)
Employees : 155,000 (2013)
Divisions : Barclaycard, Barclays Investment Bank and Barclays Wean
Subsidiaries : Absa Group Barclays Bank PLC
Website : www.Barclays.com
Mission of Barclays bank
According to Fifield (1998), Mission is an overall appearance of the general purpose of an organisation which is more simply a broad explanation of the business it is in. The Barclays mission is to be an innovative, customer-focused group that delivers super products and services, ensures excellent careers for their people and contributes positively to the communities in which they live and work.
In order to attain this mission Barclays concentrate on following aspects
Deliver a superior customer experience and offer high value products and services that consistently exceed their customer expectations.
Attract, develop and retain talented, performance-oriented people by providing employment opportunities that are among the best in financial services industry.
Play a full and active role in the communities in which Barclays operate to ensure mutual benefit from their success.
Vision of Barclays
According to Hooley et al, 2004, a…