Barcly Bank Assignment Example | Topics and Well Written Essays - 2000 words

Barcly Bank - Assignment ExamplePerhaps one would say that it is because the bank has already established its bear on considering the quantity of time that it has penetrated the UK banking arena it has marked its name among its consumers considering the amount of time that it renders among its consumers. Basically, the idea that due to the fact that it has been in the market for quite a long time, then it has the skill and expertness needed in banking industry. Secondly, the thought that it wont stay that long of the caller didnt earn the trust of the consumers.Considering the present situate of bank market nowadays, is it lavish to rely on the aforementioned premises to attribute the success of the tell bank In this case, the answer would be obvious, it is a big NO. Due to tougher, competition among some(prenominal) bankers, relying on the name alone plus the quantity if stay in the market is not enough to consider the case because of changing times, customers incur diametr ic needs . In dealing with the present competition, put down the master and contingency plan to address the further success of the company is the most beta occasion to do.Before, plunging into a more delicate issue concerning competitions and plans, looking back to where the company has started is an important thing to do in order to draft plans in relation to the next step that the bank mustiness do to be on top despite the threat of hundreds of competitors encircling the competitive arena.In dealing with the banks history, the company website barclays.co.uk (2007) revealed that Barclays origins can be traced back to a modest business founded more than 300 years ago in the heart of Londons financial district. In the late 17th Century, the streets of the City of London may not have been paved with gold, but they were filled with goldsmith-bankers. They provided monarchs and merchants with the money they needed to fund their ventures around the world. whiz such business was f ounded by John Freame and his partner Thomas Gould in Lombard Street in 1690. The name Barclay became associated with the company in 1736, when James Barclay - who had married John Freames daughter - became a partner. Private banking businesses were commonplace in the 18th Century, keeping their clients gold deposits secure and lending to credit-worthy merchants. In 1896, 20 of them formed a untested joint-stock bank. The leading partners of the new bank, which was named Barclay and Company, were already connected by a web of family, business and religious relationships. The company became known as the Quaker Bank, because this was the family tradition of the founding familiesUnderstanding the companys history is an important thing to do to formulate draft since a saying goes that it is impossible for you to reach your destination without looking back to where you have started. The same thing in formulation of plans regarding the success of the business lies within the formula from where the company has started. Basically, it started from different ventures and from different businesses delivered and catered different types of