Management may be defined as ‘the act of managing something; “he was given overall management of the program”; “is the direction of the economy a function of government?” those in charge of running a business (wordnetweb.princeton.edu/perl/webwn) In the nineteenth century, Robert Owen and Charles Babbage seriously took a decision to deal with the search for the development of management theory. Owen was a business man and social reformer while Babbage was a well known and a famous mathematician with a strong desire and interest in business management. (Owen,1831) Owen strongly believes that character is an after effect of the situations and that surroundings and education at the right time is important in forming a good character. While being surrounded with controversies all his lifetime, Owen is recognized with being the predecessor of the modern human relations school of management. (Babbage, 1870 He was well acknowledged for performing the fundamental research for the first practical mechanical calculator as well as doing basic research and development on an “analytical engine” .He is even recognised as the forerunner of today’s modern computer. His interest in management came out largely from his concerns with work specialization or the degree to which work is divided into its parts. This is now recognized as being the top in the list of contemporary operations research. Babbage’s other major contribution in the field of management came from the development of a modern profit-sharing plan which includes an employee bonus for better performances and even a share of the company’s profits. According to the classical school of thought the definition goes a little extra . They have not only developed a comprehensive theory of management ,but also developed the potential which a manager needs in order to deal with the organizational challenges. Management is a vast subject and should be discussed from different angles. The concept of CVF cannot be ruled out as it plays a very fundamental role in how organisations function and prove themselves in the business arena. According to (Quinn and Rohrbaugh, 1983, p.363) Effectiveness is the main idea of the organizational literature whereas its definition is controversial but not always. The CVF has certain principles . The first principle focuses on the organisational benefits from an internal point of view ie, about the welfare of the employees in an organisation to the external point of view on the well-being and the profiting of the organisation itself. The second principle focuses on the issues related to organizational structure, with a greater emphasis on stability and flexibility. Quinn and Rohrbaugh (1983, p.370) quoted that these two sets of competing values are renowned dilemmas in the organizational literature. For instance, Denison and Mishra’s (1995, p.209) case study showed that activities involving employees can drop into narrow-mindedness and have a negative impact on performance which may in an unsatisfactorily output, for the organization may exaggerate the internal integration and neglect to adapt to the external environment. Similarly, the different views of different persons, directs in considering order and control versus innovation and change are the of the most heated debates in sociology, political science, and psychology. All this results in to effective management which is all related to the CVF.
Barclays plc is a British financial services firm operating throughout the world. It is a holding company that is listed on the London and New York stock exchanges, and was listed on the Tokyo Stock Exchange until 2008. It is also a part of the FTSE 100 Index. This bank originated in the year 1690 when John Freame and Thomas Gould started their business as goldsmith bankers in Lombard Street, London. The name “Barclays” became related with the business in 1736, when James Barclay, son-in-law of John Freame, one of the founders, became a part in their business.  In 1728, the bank shifted to 54 Lombard Street, which was identified by the ‘Sign of the Black Spread Eagle’, over the years it became a core part of the bank’s identity. Then in 1924 the planned invasion of National Bank of Kingston was almost complete but was halted three days before finalisation.
In March 2009 it was reported that in 2008, Barclays received billions of dollars from its insurance activities with AIG, including $8.5bn from funds provided by the United States taxpayers to bail out AIG. On 12 June 2009, Barclays sold its Global Investors unit, which comprises its exchange traded fund business, iShares, to Black Rock for $13.5bn. Standard Life sold Standard Life Bank plc to Barclays plc in October 2009. The sale completed on 1 January 2010On 11 November 2009, Barclays and First Data which is a global technology provider of information commerce, have signed an agreement according to which Barclays will move a range of card portfolios to First Data’s issuing and consumer finance platform. On February 13, 2010 Barclays announced it would pay more than £2 billion in bonuses https://en.wikipedia.org/wiki/Barclays
Barclays has its global presence spread through out the world, allowing it to spread risk and enjoy economies of scale. The Barclays is a well-established brand in times gone by and promotes continually through out the year , as in the sponsorship of Premier League football. Barclays is particularly linked with innovating new things. It was the first to bring the credit card in 1966, and has continued to expand their horizon in developing cards, recently with the One Pulse card combing Oyster, cashless and credit functions for London-based customers. The opening of several new branches along with a restoration programme with an attempt to progress in satisfying customer demands for a high reputation in the market.
The Services provided in Zimbabwe to individuals who are associated with Zanu PF have resulted in many unwanted controversies and raised questions about Barclays’ ethical position: investors are highly concerned about ethics. Large bonuses and incentives for Directors have attracted useless attention from observers, and it has been guessed that the bank’s unwillingness to take financial support from the UK government is because that would end the bank’s self government ability in terms of their business. Plans to expand in Asia were restricted when Barclays were out of the competition with ABN Amro in 2006, and substitute expansion plans have had to be implemented. The bank does not pay any dividends on its shares until the second half of 2009, making the investors to step back in this regard.
Barclays was very much interested to get hold of some of Lehman’s assets before its collapse: but to their advantage, after the collapse they have been able to bargain a better deal which also allowed them to be very choosy in parts of the business where they acquired. The bank’s approach is to offer a full group or a set of services through out the world, providing an extensive variety of trading or cross-selling opportunities. Asia is still considered a chance for Barclays’ expansion, and process of setting up have been started in a number of countries. Welfare measures to the investors has been decreased in many countries because of the taxes and the other costs payable to governments, and Barclays finds self-provision as a growing trend that it can make use of. The court recently found that Barclays banking charges, which had been challenged legally, were enforceable, thus repayment is not necessary and charges can continue to be enforced.
If the economic downturn is lasting for a longer period of time, acquisition of Lehman’s assets could prove to be a fault Barclays has been charged of moving loss-making investments into those of other investors, and there is a risk it may result into legal action. While offering a wide range of services providing many opportunities for the investors, there is also a threat that customers may go directly to the suppliers, who present a more focused approach. Barclays was popularised for closing branches due to a high occurrence of this in 2000, and the other competitors have been able to take this as an advantage to point themselves as more consumer-friendly through a plan of keeping branches open. The Barclays expansion in Asia is found to be as risky given that they don’t stand in competition with banking industry leaders regarding capitalisation, and this may detract investors. https://www.businessteacher.org.uk/business-resources/swot-analysis-database/barclays-bank-swot-analysis/
The rising markets such as India and Africa are highly regulated and controlled by the government and also by the central banks. A lot depends on the higher authorities and the central banks of these countries who makes decisions such as regularization of interests on loans and deposits as well as money supply . There are many entry barriers to be faced when any foreign bank enters into India. The people of these countries look for safety of their investments and prefer to deposit in the government or public sector banks and this may prove to be a drawback. The restriction on the number of branches would also add to the disadvantages as people in the rural areas would not be able to access the banks. When it comes to product differentiation Barclays business strategy works for urban and niche or corporate customers
When it comes to competition in emerging markets which includes a whole lot of public as well as private banks along with NBFCs and microfinance institutions in rural areas, it is really hard to survive. Progressing from such markets is even more difficult when compared to entry due to high regulations and the time it takes to run the business. However it was a good strategy used by Barclays in Africa. Obtaining major stakes in Absa gives them easy entry in an untouched market and also a good brand name.
The suppliers of a bank are the people who invest and from whom the banks raise funds. In most of the markets Barclays is a non listed company and so the major source of funds are its customers (depositors), who are the Barclays suppliers in this case. The customers or the depositors have a high bargaining power in the market as they are the source of funds for any bank. Any bank which gives a higher rate of interest would attract a larger number of depositors towards it which would result in the huge funds for the bank. This is the reason why private banks offer higher rate of interest as compared to other government banks especially for the long term depositors.
Financial system in banking sector would be fluctuating the markets which are still not settled and expanding their reach to a large number of customers which would mean higher net profit margins through volumes. Barclay has been trying to implement this strategy by continuously finding new markets and entering them. Their rush into emerging market in Western Europe, Africa (through Absa) and India shows their constant attempt to enter into new markets and acquire a brand name for the organisation. However they need to overcome the high competition from financial companies as well as microfinance institutions who provide easy financial solutions to the poor and also for the small business. As new competitors are entering the market everyday, Barclays face a high completion from them.
There are many organisations in the retail finance industry that give financial support such as moneylenders, NBFCs, microfinance and also the insurance companies. Banks offer a group of services other than taking deposits and lending money, but when it comes to insurance, mutual funds or fixed income securities, even these are the non-banking financial services company which offer the same services as in a bank.
Barclays Human Resources recognises the importance of attracting, retaining, and developing a variety of world-class professionals who can place the organisation on the top . We identify, advancement and reward all talent, valuing and try to build the power of diversity amongst our people to offer our clients inspired and modern solutions. Working to implant diversity in all areas, It strive to: Build a workforce that directly reflects the needs of the communities and so we are best able to understand our clients’ needs and act accordingly to satisfy the needs of the customers. The organisation makes sure that the hidden talents of each employee are taken out and fully utilised, and that all the employees and clients are treated equally not taking into consideration his personal feelings, race, religion or belief, gender, age, disability, sexual orientation, nationality. The organisation strives to maintain a work favourable environment that instils a sense of dignity and respect, where all employees feel free to fully contribute to the growth and success of the firm without experiencing nuisance or bias from any level of the organisation. improve our ability to attract and retain clients and employees by maintaining good relations and enhancing our reputation for fairness, transparency, integrity and consistent delivery of best-in-class solutions and services to our customers. Diversity is very important for a business; by inhibiting diversity into all aspects of our work we maximise the opportunity to collaborate with other firms which helps in achieving nonstop business growth and success.
Such an approach will have a long lasting result on the future development of Barclays. This is because by encouraging diversity, Barclays will be able to cash on its loads of experiences in handling diverse culture and therefore it easily helps them in entering other countries to expand its business operations without any hindrances. It will also be an opportunity to get a closer and a clearer view of how different cultures conduct business operations and examine their terms and conditions. According to Robert E Diamond , President of Barclays PLC and CEO of Corporate and Investment Banking, and Wealth Management ; If we are really aspiring to be a truly international firm, with a diversified base of clients, then we need to plan organize ourselves to look a lot like the people we are serving and plan strategies that fit the budget of the customers. The only technique by which we can compete with the other firms in the market and keep hold of the best talent in the industry, around the world, is to have a culture at the work place that can attract and retain people from all kinds of locale. Our focus on diversity is important not only because it’s one of the strategies to develop, but because it’s good business.”
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