Strategy evaluation for barclays Essay Example | Topics and Well Written Essays - 1750 words

Strategy evaluation for barclays - Essay Example The present strategy of Barclays bank was effective because it led to a statutory increase of its income to  £11,461 in the year 2013 which is given in figure 3. The profit of the bank also increased to  £2868 in the same year compared to 2012 in which its gain was only  £ 797. The suitability of the strategy adopted by the bank by transforming its plan in order to convert it into ‘Go-To’ financial institution reaped huge benefits. The balance sheet of the company strengthened and its operations became efficient. Its core franchises like UK retail, Corporate and Investment banking witnessed sufficient growth. A look at the share price of Barclays bank in figure 4 highlights that the turnaround plan was successful in improving the performance of the company. However, the executive chairperson of the bank McFarlane opined that there are certain pitfalls in its strategy implementation that needs to be mitigated in order to accelerate its progress. The strategic positi on of Barclays bank illustrated in figure 5 reveals that in terms of leadership, it occupies the highest position but HSBC is far ahead in terms of status. Other banks like Standard Chartered and RBS have succeeded in engagement more than Barclays bank. However, Barclays need to move its position in the engagement quadrant in order to compete with its rivals. Out of all the alternatives, the bank has selected the second one by serving its products in different countries in order to create its presence internationally.