Business Strategy, Vision And Mission Of Barclays

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The following report aims at providing information on the business strategies which are implemented in the business processes of a given organization, and what their impact is on the successful growth of this organization. Hereby, a scenario is used as a background of the written work, which describes the author of the report as a member of a strategic management team of a large British company. The author needs to look at some key points on the strategies of the company in order to explain its means of being competitive currently and in the future. An example of a British organization will be given with Barclays as one of the top most popular bank organisations in the UK. Task 1 In this paragraph the author of the report will present the…show more content…
The strategy which the company has overtaken in during its growth is fulfilling the five core values on which Barclays is based on. The five core values are: Respect, Integrity, Service and Stewardship[ ] which means that in order to make life easier for their customers, Barclays staff treat them with respect, try to make everyone feel as part of a team or part of the organisation as a whole, provide great customer service through interacting in different ways with the banking clients and dealing with every detail or issue with care and most effort. AC 1.1 and 1.2 a) Steps of strategic Planning The steps to strategic planning may differ depending on the size of the company or its future goals and objectives, but overall the main key steps are as follows: Internal assessment of the company – assessing all internal issues within the organization, and structuring them starting with the most important to be dealt with. Assessing the company weaknesses as well as its strengths, by using for example SWOT analysis; External assessment for the company – which includes assessing the current market state, any threats or competitors, paying attention to fast developing technology and change of demands from customers; Processing the internal and external assessment – this process is done in order to summarize and prioritize the next steps of the company; Creating a mission and a vision of the company- as mentioned in the previous
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