Microeconomics Concepts in a UK-Based Organization: A Case Analysis of Barclays

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Microeconomics Concepts in a UK based Organization INTRODUCTION Every organization has to analyze its business environment before making policies and strategies for its day to day operations, marketing and promotional efforts, and competing with the industry rivals (Loudon, Stevens, & Wrenn 2004). The key factors of the business environment that affect the business operations of a company include political, economic, technological, environmental, cultural, and demographical factors. In addition to these factors, an analysis of the competitive forces is also essential in order to assess the potential threats and intensity of rivalry present in the industry (Ritchie & Crouch 2003). If an organization does not give importance to the analysis of its business environment, it may not be able to compete in the industry for a long period of time (Hill & Jones 2007). The purpose of this paper is to discuss the impacts of different environmental factors on the business operations of a company. The discussion has been made in the light of international accepted microeconomics concepts and practices. BARCLAYS Barclays is a UK based organization engaged in the business of banking and financial services. Headquartered in London, Barclays is currently serving over 48 million customers in more than 50 countries of the world. It has been rendering customized and tailor-made banking products and financial services for more than three Centuries (Barclays 2012). Barclays is ranked

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