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competitive position in both the US and UK market (Home.barclays, 2018).Other key weakness include; integration of operations in all its branches is difficult since other areas are not developed as in the UK, The banks has a high employee turnover and with lack of highly skilled personnel the bank’s operations will be influenced, the new regulations as a result of BREXIT may prove costly and may influence the company’s operations (The WritePass Journal, 2018). All this weakness can be improved by applying correct strategies such as the weakness of high employee turnover can be minimized by ensuring that employees are provided with all the resources that they require and they are motivated to work.Strategic planningIn this section the past hindsight applies the Rumelt’s Reflection and Ashridge mission models, the present insight uses PESTEL analysis model and the future foresight uses the BCG matrix model.Past HindsightBy applying the strategic model process, the past hindsight stages are reflect and evaluation stage. The models in this stage are; Remelt’s reflection/key test, Ashridge mission model, stakeholder mapping and cultural web. In this stage, Rumelt’s reflection and Ashridge mission models will be considered.Rumelt reflection model is based on four elements that is consistency, feasibility, advantage and consonance where for a strategy to be implemented then it must be evaluated. With regard to consistency, the strategy to be implemented must present clear goals. Consonance implies that the strategy adopted should be able to adopt to the dynamic of the environment. Advantage, the
BARCLAYS BANK PLC STRATEGY PORTFOLIO 7strategy to be implemented should present a competitive advantage. Feasibility, implies that the strategy to be implemented should not be able to consume a lot of resources (Continuity, 2018).Barclay’s strategy is to “build on their strength as a transatlantic consumer, corporate and investment banks, anchored in two home markets of the UK and US, with global reach.” The strategy is consistent in that the banks want to utilize its strength in overcoming competition withregard to the provision of corporate, consumer and investment services in the UK and US markets. The strategy is also consonance in that in case of any changes in the regulatory frameworks then it is able to cater for it. For example the ring fencing in the UK is consistent with the strategy (Home.barclays, 2018). With regard to advantage, the bank’s brand is enough togive them the node in the international market. The bank has sold 62.3% of the stake in Barclays Africa Group which they use the amount to finance the strategy and running the operations in theUK and US markets hence feasible.Ashridge mission model is used in creating a sensible mission that will be linked with any strategy that the business adopt (B.V, 2018). The Barclays Bank mission is “To be an innovative, customer-focused Group that delivers superb products and services, ensures excellent careers for our people and contributes positively to the communities in which we live and work.”