Stakeholders of Barclays (Stakeholder Analysis)
This is a comprehensive analysis of the stakeholders of Barclays (Stakeholder Analysis). Barclays is a British bank. It operates in a complex and challenging business environment. As a result, it is essential for it to have stakeholder management as an integral part of its business strategy.
Stakeholders are the people and organisations who are affected, either positively or negatively, by the activities of a company. They are usually divided as internal and external stakeholders. This article examines the stakeholders of Barclays in line with these two categories.
Internal stakeholders of Barclays
Leadership team of Barclays
The leadership team of Barclays has two branches i.e. the Board, and the Executive Committee. The group chairman leads the Board, whereas the group chief executive leads the Executive Committee. The Board is responsible for devising and overseeing corporate strategies whereas the executive committee implements them (Barclays, 2022).
Employees of Barclays
The employees of Barclays are critical to its success. From the front lines to the executive offices, they help customers around the globe achieve their financial goals. Barclays operates in over 40 countries and employs around 85,000 employees (Barclays, 2022).
Barclays has a very good people management strategy in place. However, there are still some areas where it needs to work on. For instance, Gemmell (2022) reports that three discrimination claims were launched in London against it by Black bankers who accused it and colleagues of treating them unfairly because of their race, after they raised concerns about some internal business issues.
Shareholders of Barclays
The shareholders of Barclays are also very important as they provide it with the capital it needs to operate and grow. They are divided into three groups i.e. individuals, institutions, and mutual fund holders (CNN Business, 2022). They expect the bank leadership team to develop and execute long-term strategies that will deliver sustainable and profitable growth. They receive dividends semi-annually.
External stakeholders of Barclays
Customers and clients of Barclays
One of the key external stakeholders of Barclays is its customers and clients. Barclays serves both consumers and businesses. Its four major customer segments are retail, corporate, wealth management, and investment.
Retail customers are individuals who use financial products and services for their personal lives. On the other hand, corporate customers are businesses that use financial products and services for their daily operations. They include small and medium-sized businesses, large corporations, not-for-profit organizations, and government agencies.
Private wealth customers are high-net-worth individuals who use financial products and services to manage their wealth. On the other hand, investment customers are institutional investors that use financial products and services to manage their assets. All these customers and clients are very important for Barclays as it cannot operate without them.
Suppliers of Barclays
Barclays partners with a wide range of suppliers that provide it with the technology, equipment, and other services necessary to operate and grow its business. It expects them to be innovative, responsible, and cost-competitive.
Competitors of Barclays
Competitors are also among the key external stakeholders of Barclays. They may affect its strategies and operations with their activities. For example, they may offer better services and cheaper prices to drive customers and clients away from it. They main competitors of Barclays are Santander, Metro bank, Nat West, Bank of America, HSBC, Citibank, Lloyds, and UBS.
Government and regulatory groups affecting Barclays
Barclays must abide by the rules and guidelines of the government and regulatory bodies. The main regulatory body affecting it in the UK is The Financial Conduct Authority (FCA). The Competition and Markets Authority (CMA) can also take actions against it if it is accused of breaching its rules.
The Securities and Exchange Commission (SEC) is an American financial regulatory body. It serves many roles, including protecting investors and the integrity of the U.S. security markets. It is one of the most important regulatory bodies affecting Barclays in the USA.
Summary of the stakeholders of Barclays (Stakeholder Analysis)
As the above analysis demonstrates, Barclays has several stakeholders who can affect its strategies and operations. Therefore, it must ensure that it has an effective stakeholder management system in place. By doing this, it can improve its strategic decision-making and enhance its reputation with the key stakeholders.
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Last update: 01 September 2022
Barclays (2022) Leadership, available at: https://home.barclays/who-we-are/structure-and-leadership/leadership/ (accessed 01 September 2022)
CNN Business (2022) Barclays, available at: https://money.cnn.com/quote/shareholders/shareholders.html?symb=BCS&subView=institutional (accessed 31 August 2022)
Gemmell, K. (2022) Barclays Hit With Race Discrimination Claims in London, available at: https://www.bloomberg.com/news/articles/2022-07-29/barclays-hit-with-race-discrimination-claims-in-london (accessed 01 September 2022)
Author: M Rahman
M Rahman writes extensively online and offline with an emphasis on business management, marketing, and tourism. He is a lecturer in Management and Marketing. He holds an MSc in Tourism & Hospitality from the University of Sunderland. Also, graduated from Leeds Metropolitan University with a BA in Business & Management Studies and completed a DTLLS (Diploma in Teaching in the Life-Long Learning Sector) from London South Bank University.