P6: Reflect on the effectiveness of research methods applied for meeting objectives of the business research project.
P7: Consider alternative research methodologies and lessons learnt in view of the outcomes.
Reflection:
I am glad that I get an opportunity to perform an investigation over “The
Globalization of Financial Services”- A case study on Barclays Bank.” which is
a very interesting and knowledgeable area of study. With the help of this
investigation I become able to improve my researcher skills as I came to know
about several tools and techniques that can be used to perform investigation
effectively. These tools support in gathering, evaluating, analysing and
interpreting the information effectively to represent it in more reliable
manner. In addition to this I also become able to develop my knowledge
regarding the ways in which globalisation support a business to improve its
practices. But along with these benefits I have also faced some issues while
conducting this investigation. The major challenges faced by me was the time as
well as budget provide me for conducting this investigation was very limited
which has affected by work also. But I tried my best to perform it effectively
and presenting the information in more ethical and reliable manner. For this I
have used questionnaire for gathering information in which number of questions
are being asked by responds which are employees of company. This in turn help
in saving time as well as cost of research as interview take lot of time but on
the other side questionnaire take less time as it can interact with large
number of respondents at single time.
But while conducting survey through questionnaire I have found several
issues some of them are, several respondents are their which provide wrong
information regarding the questions asked to them. Apart from that some of them
are not ready to respond over questionnaire, but along with these challenges I
have tried to represent information more accurately and in authenticated manner
in other to avoiding any kind of unethical practice by misleading readers.
Recommendation:
From the above given information it has been found that there are several challenges that Barclays bank have to face while entering into global market. In order to avoid these issues and improve its business practices following recommendations are given to Barclays Bank. Barclays bank must focuses toward performing a detailed market research before entering into new market. This in turn support bank to learn about the situation of particular country along with the opportunities as well as challenges are present in new market. These information will support in formulating effective strategies for avoiding risk and availing the opportunities to achieve greater success at marketplace.
Another recommendation is that Barclays Bank must focuses toward hiring the employees from the country in which it want to enter that support in integrating the culture effectively and avoiding the risk of customer expectation failure. This is because it help in dealing with customer's expectation effectively by deeply understanding it.
CONCLUSION:
From the above performed investigation it has been
found that globalisation plays a crucial role within the growth as well as
success of an organization as it provide a medium through which a business can
earn more profit by targeting new market and larger number of customers.
This in turn also support banks and other financial institute in getting growth
as well as development in its financial services by getting easier access to
new technologies, manpower and business approaches to perform operations effectively.
In addition to this from the survey it has been found that Barclays bank has
faced several issues which left negative impact over the growth of company such
as Change in customer demand, increase competition and Legal barriers. But
apart from this majority of people said that the bank have experienced positive
outcome also by getting larger customer base, achieving competitive advantage
and increased in overall revenue of the bank. These all supported up to a great
extent by enhancing the quality of operations as well as practices that bank
perform at international market.
