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Barclays is a UK based financial services group Essay

In this project I have been given the task of researching an industry that I have an interest in. There are three sections to this assignment, in which the first part requires me to undertake some secondary research on the sector, which I have chosen. Using secondary information from sources such as reputable newspapers, journals and industry reports with other various sources will help me obtain this information.

In the second part of this assignment, I will be identifying the qualities, experiences and qualifications that are required by my chosen sector and this will be linked to the final part of the report where I will be considering the ways in which a candidate can be assessed by a potential employer in my sector. Barclays is a UK based financial services group involved in primarily in banking, investment banking, and investment and management through its “subsidiaries that include, Barclays Bank, Barclaycard, Barclays Global Investors, Barclays Private Clients, Barclays International and Barclays Capital”1.

It is headquartered in London and currently employs about 76,000 people. During the fiscal year ending December 2004, Barclays recorded revenues of i?? 20,768 million, an increase of 13. 9% over 2003. This was primarily due to the strong performance

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of Barclay’s capital. The operating profit of the company during fiscal year 2004 was i?? 4,502 million, an increase of 12. 4% over 2003. The net profit was i?? 1,730 million during fiscal year 2004, an increase of 23. 2% over 2003.

2 Nottingham University produces a survey on ” private businesses and their banks”. It surveys around 500 small businesses, asking them about their relationship with their bank. The survey, which was carried out in 09/11/2004, showed that big banks were “outshone” by smaller rivals in the major bank report. Factors that are taken into account when compiling the performance league table (see appendix 1) for the various banks include competitiveness of interest rates charges, knowledge of industry, efficiency and reliability.

Another significant point, which was developed from this survey, was that more than 40 per cent of small businesses banking with Barclays, Lloyds TSB and Natwest had cause to complain. 4The Sociocultural environment can be defined as the “cultural influences on business which may vary from country to country, factors such as religion, language etc are the Sociocultural factors”. 6 The demand for convenience in banking is increasing because of changes in lifestyle and values.

Barclays has launched almost every single way of banking so far in the market and is currently researching on better ways of banking in future. Demographic changes such as smaller household sizes are also an aspect in changes in banking for which Barclays has signed a deal with Woolwich Mortgage to provide Mortgage to its customers which leaves the customers with the same bank. Barclays provides its customers loans such as short-term loan, long-term loan, career development loan, which means Barclays, covers the changes in lifestyle and values.

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