logo image

Business Assessment Essay

Nationwide building society is the large business on which i am going to complete this assignment on. The branch on which I am going to study is located on the High street in High Wycombe. In order to enable me to complete my assignment I have used books, internet, leaflets, the use of phone calls to the bank and I made an appointment for me to speak to a member of staff in the bank. My assignment will clearly reflect upon the usage of the information I have used.

I will look at the aims of the business and thereafter look more deeply into the business but due to limited information the company can share there is a limit of information for my assignment. The industrial revolution in the 1770’s caused the need for building societies to save for land and materials with which people could build their own houses with. Each member would contribute regularly until all the members’ houses were built up after which a society was wound up.

1880’s saw a rapid extension in which mant societies were formed and interest rates were charged on money loaned to borrowers. Small societies merged to form bigger societies and the origins

Need essay sample on "Business Assessment"? We will write a custom essay sample specifically for you for only $ 13.90/page

of Nationwide building society lie in Northampton. Nationwides merger with Anglia building society (1987) formed the country’s second largest building society. Nationwide is the UK’s fourth largest mortgage lender and ninth largest retail banking, saving and lending organisation and is commited to staying mutual.

Nationwide has headquaters in Swindon and a second administrative centre at Northampton and now offers a wide range of retail financial services. MORTGAGES, SAVINGS, CURRENT ACCOUNTS, LIFE ASSURANCE, INVESTMENT PRODUCTS, PERSONAL LOANS and HOUSEHOLD INSURANCE are all available from Nationwide. Nationwide has mutual status, which means that it is owned by its members and is run day-to-day by an executive management team overseen by an elected board of directors. The societies basic aims are to attract as many customers as possible and remain a good reputation like they have at the moment.

Nationwide are always looking into new ideas and competing with other building society to provide the best service for their customers and competitive interest rates. If they can reach these aims they will remain top of the league. HOW EMPLOYEES INTERACT WITH EACH OTHER WITHIN NATIONWIDE Employees within Nationwide use E-mail mainly to communicte with each other from different branches. The use of telephones anATION IS PASSED ONTO CUSTOMERS IN THE FORMS OF AN ANNUAL REPOT UPON WHICH CUSTOMERS DECIDE WHO TO ELECT TO BE PART OF THE BOARD OF DIRECTORS.

By following these procedures and by employees of Nationwide interacting with each other the business runs as smoothly as possible from a day to day basis, except for on odd occasions on which minor mistakes are made but normally corrected. Regular briefings ansd conferences keep members of the business informed of what is going on and hence motivate members of staff to work better. DEPARTMENTS WITHIN THE BUSINESS Nationwide believes in equal oppurtunities and does not judge people by their race or gender but by their ability to work.

The basic employment process for a cashier is to first omplete a telephone interview which consists putting applicants into situations and asking them how they would deal with it. This helps the employer to find out if the applicant is suited for the job and he or she’s speaking skills. If applicants complete this process successfully they are sent an application form if tis part is alsom successful the applicant is called in for another interview and then a decision is made.

Nationwide do not give out personal details about there employees as they are safeguarded by the Data Protection act and they take full liability caused due to there fault at work. Employees are given days off for grievance, maternity leave,sickness etc this goes to prove that they follow the employment law. Safety procedures are carried out at work and regular fire alerts are carried out. Nationwide makes sure its employers are working in a safe and friendly environment. COMPARISON OF ORGANISATIONAL STRUCTURE OF NATIONWIDE WITH CONTRASTING STRUCTURE AND COMMUNICATION FLOWS CONCLUSION:

Nationwide overall is a strong large capitalised business and is nowhere near an unachieving business. Its assets a good and with a wide range of services offered to customers i cannot go wrong. If the business carries on achieving its goal and competing with its competitors it can carry on bieng an excellent business. If the business was to loose out on some part of the business it would have enough to keep it going due to the amount of services offered which customers have taken up. Looking into the future i cannot see this business falling downhilll it has expanded to much to weaken.


1.The internet.

2.Phonecalls made to nationwide.

3.Speaking to a member of staff.

4.Business for GNVQ book.

5.Leaflets from Nationwide.

6.Asking a couple of customers on what they think of the business.

Can’t wait to take that assignment burden offyour shoulders?

Let us know what it is and we will show you how it can be done!
Sorry, but copying text is forbidden on this website. If you need this or any other sample, please register

Already on Businessays? Login here

No, thanks. I prefer suffering on my own
Sorry, but copying text is forbidden on this website. If you need this or any other sample register now and get a free access to all papers, carefully proofread and edited by our experts.
Sign in / Sign up
No, thanks. I prefer suffering on my own
Not quite the topic you need?
We would be happy to write it
Join and witness the magic
Service Open At All Times
Complete Buyer Protection
Plagiarism-Free Writing

Emily from Businessays

Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/chNgQy

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy