Barclays Essay Example | Topics and Well Written Essays - 1750 words

Barclays - Essay Example According to Needham (1999), organization is the system that has a conventional structure and cognizant planning, in which people deal and work with one another in a supportive and synchronized manner for the achievement of common and recognized goal. Barclays is a major financial service provider in UK , engaged in retail banking, investment banking, credit cards, corporate banking and wealth management (Plunkett, 2005). They have marked their presence in other countries of the world like Europe, Asia, Africa and United States. The company is operating in more than 50 countries and has employed 147000 people (Great Britain: Parliament: House of Commons: Treasury Committee, 2011). Barclays looks towards investing and protecting the money of their clients and customers from all over the world. Organizational Structure Organizational structure is the hierarchy of the organization that shows how the elements within the organization works together to accomplish the common organizational goals. The organizational structure encompasses employees, departments, responsibilities of the employees, resources they require as well as the relation between the department and the employees working within the organization ... Barclays believes in an organizational structure that encourages continuity of the firm in investment processes. The organizational structure of Barclays is divided into several work groups and units according to their knowledge, expertise, resources and skill. Barclays is headed by the Chairman Sir David Walker. The Group Chief Executive Antony Jenkins is responsible for the strategic planning and direction of all the operations taking place in Barclays (Jenkins, 2013). He reports directly to the Chairman of the organization. The operations of Barclays are divided into two broad categories: Global Retail and Commercial Banking and Investment Banking and Management (Barclays Bank PLC, 2006). The Retail Banking business encompasses the retail banking, business banking, international retail and commercial banking (including and excluding Absa) and Barclays cards (Barclays, 2010). The Chief Executive who looks after all the operations of the Global retail and Commercial banking is also responsible for taking strategic decisions. The president of Barclays PLC and the Chief Executive is responsible for looking after the Investment Banking and Management section. Investment Banking and Management encompasses area like Barclays Capital, Barclays Global Investors and Barclays Wealth. All the decisions related to this branch are taken by the Chief Executive. All the Chief executives, Group finance Director, Group Vice Chairman and Chief Operating Officer of Barclays reports directly to the Group Chief Executive (Barclays Bank PLC, 2006). All the departments like finance, marketing, human resource, audit, risk, investment banking,