The business environment is mainly influenced by the economic, political, technological and social factors. These factors act as determinants used to analyze the performance potential of any particular enterprise seeking to expand its operations in a new environment. Some of the influential factors the company has to consider are political stability, business trade frameworks and environmental policies. The sections of this research paper seek to discuss the factors influencing external business environment for an organization looking to expand into new markets. The paper has focused on the Barclays Bank and its strategies for establishing subsidiaries in other countries across the world. Further, the paper has extensively discussed the influence of globalization and its impact on the role of the manager. Organizations have to analyze the new business environments strategically and prepare to realign their operational functions before establishing subsidiaries to ensure quality and customer satisfaction in the global markets.
The Barclays group PLC is a financial institution that entails providing banking services to the global consumers in the countries it has established branches. The headquarters of the Barclays Bank are in London, and it is the third biggest bank in the UK. Also, it has set up offices in more than 70 countries across the globe. Some of the services of the bank are credit services, retail banking, wealth management, investment banking and corporate banking. The group has more than 147, 500 employees and over 38 million clients across the world with its operations traversing overseas boundaries in Europe, America, Middle East, Africa and Asia (Brown and Knudsen 2015).
The rapid growth of Barclays bank due to its flexible structural frameworks that have enabled it to adapt to new environments. Moreover, with most of the countries the company has established branches are the members of Commonwealth which has made it convenient for the company to build new networks. The ability to trade with other countries without any restrictions enable the economy of the country to grow steadily…
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