Causes and effects of globalization Essay Example | Topics and Well Written Essays - 250 words

Causes and effects of globalization - Essay Example the importance of multinationals operating in their nation and as companies recognized the importance of expanding their business globally (Ritzer, 2007, p.70). Decrease in trade barriers such as quota systems and import, export duties even became an underlining reason that promoted globalization. When trade barriers were removed, consumers realized that they can obtain goods and services at much lesser prices as compared to the goods and products available and produced locally. Globalization was even created as organizations and nations understood the importance of technological advancements that were taking place in other regions and due to their desire to obtain these technological advancements. Globalization has been impacting humankind both in negative and positive way. This process has increased job opportunities for the workforce throughout the world, now people can find employment anywhere around the world. Another positive effect was that the developing nations have started working for developed nations which aided in solving the problem of unemployment rate in these nations. Due to globalization, interaction between cultures increased and cultural boundaries became blurred, and due to this people of one nation started accepting and adopting the cultures of other

Race, Nation, and Modernity in Chinese Kung Fu movies Essay

Race, Nation, and Modernity in Chinese Kung Fu movies - Essay Example e other hand, critics of Art suggest that Art is the only power of unification that can eradicate all sorts of cultural, racial and sexual discrimination. Delving deep into the whole affair from a much pragmatic perspective unveils several other issues, which clearly signify that humanists and critics of Art do not have many things to optimize over such factors. Basically, the whole collaboration is established over attainment of more monetary profit form the film industry. There has always been a strong undercurrent of ethical identity and cross-culturalism in Hollywood film industry and the element of modernity is also well balanced with the racial differences. The factors of racism or cultural differentiation that humanists and sociologists boost over frequently have not changed much and they exist in the same level. At the initial level of such collaboration between Chinese stars and Hollywood, actors were chosen to play certain roles that actually focus over derogatory social structure of the Chinese society. Now the condition has developed to a great extent in that regard. In this context, the author has commented in the article â€Å"Racial Passing and Face Swapping in the Wild, Wild West† that â€Å"Compared with their predecessors in Hollywood who had to portray the stock array of Chinese domestic servants, laundrymen, mystics, gangsters, and prostitutes, the Hong Kong stars play more positive onscreen roles, appear to have more power in the making of their cinematic changes, and enjoy greater popularity among mainstream U.S. audiences.† (Lo, 147) Last part of the observation is quite significant as it states about the U.S. audience. Action in films and inclusion of subtlety in action are toe aspects that have been greatly cherished and appreciated by U.S. audience. Chinese culture of Marshal Art technique and Kung-Fu has satisfied such demands. At the same time Chinese culture has also received a great exposure through exposition in such films. Asian

Violation of Patient Consent Essay Example | Topics and Well Written Essays - 500 words

Violation of Patient Consent - Essay Example Though the meeting at the doctor’s office was held in dispute being the point of divergence from the two statements, the hearing managed to establish that at least both the doctor and the patient accurately identified each other due to recollected encounters at the hospital’s ER. Apparently, the violation indicated that no authorization to examine was given to the defendant by the plaintiff such that factual details of results may not be divulged to the third party – company or employer of the patient – unless her full consent was granted. To help settle the issue, it was found that a form from the side of the third party had been signed by the patient worker and it particularly reflected that â€Å"she understood her medical record would form part of the company’s permanent record of her employment (Can. Fam. Physician, 790).† Her decision to have done so by signing was taken into account as a proper authorization and as an additional relief to the direction of the case, the doctor presented evidence wherein the medical documents handed over to the employer merely consisted of the information on the normal x-ray which the patient herself supplied the physician with. Moreover, the defending party proved innocence toward the allege d breach of confidentiality by showing the court an available note which manifested the patient’s written compliance to be examined by the physician. A portion of the defendant’s query about â€Å"indigestion† was responded to with â€Å"not now† by the plaintiff and this served another indispensable proof of the event of their conference within the doctor’s premise (Can. Fam. Physician). The judge, accordingly, recognized that there emerged a cause of action when the plaintiff conveyed upset feelings on the basis of her misguided understanding of the breach of trust which she suspected to have occurred between her and the defendant.

Culture and health promotion Essay Example | Topics and Well Written Essays - 250 words

Culture and health promotion - Essay Example By adapting a cultural stance, it becomes quite easy to work on a strategy that will boost the health of these individuals. Worrying and anxiety have been noted amongst the Koreans, and the use of new adaptations to deal with the issues will be an ideal means of generating the required health outcomes. The first generation is at risk as they risk their all for the sake of their children, and do not have a chance to take care of themselves, and these disadvantages them a great deal (Min, Lee & Lee, 2013). In the modern medical outlook, the health practitioners are working towards making their interactions ideal for the sake of working on their provisions. In this case, the use of the cognitive-behavioral approach is suitable in working with such norms and cultural attributes. It is imperative for people to accept change and assistance when they desire it the most (Min, Lee & Lee, 2013). It is always critical to generate the right atmosphere for the realization of these beliefs while at the same time assisting the Koreans in adapting to their new environment without neglecting their ideals (Forsman, Nordmyr & Wahlbeck, 2011). Forsman, A. K, Nordmyr, J., & Wahlbeck, K. (2011). Psychosocial interventions for the promotion of mental health and the prevention of depression among older adults. Health Promot Int. 26 (Suppl 1), i85–i107. Thunà ©-Boyle, I. C., Iliffe, S., Cerga-Pashoja, A., Lowery, D., & Warner, J. (2012). The effect of exercise on behavioral and psychological symptoms of dementia: towards a research agenda. Int Psychogeriatr. 24,

Enhancing Employee Job Satisfaction Essay Example for Free

Enhancing Employee Job Satisfaction Essay 1.Executive Summary Communication problems often become apparent due to their consequences. If a department suffers from high staff turnover, this often can be a sign of poor communication between and supervisor and the team. If the team doesn’t understand what is expected from them, received unclear instructions or is not sure about the overall strategy and why they are asked to do what they do – all issues down to poor communication – they often feel dissatisfied and this can result in employees leaving the business after a relatively short period of time. Another cause that can justify reviewing if there are any departmental communication problems is low motivation, productivity and poor business performance. If staff does not receive the information they require or do not feel appreciated, valued and kept informed they might not go the ‘extra mile’ for their employer. They might feel frustrated and can’t see the point of what they are doing and this in turn leads to poor performance. Open and regular disagreements between managers and the team, such as open conflict or rejected appraisals, are also a clear sign of communication issues and should be looked into. But suspecting that a departmental issue is down to poor communication is not sufficient to bring improvement about. Once you suspect that there are communication problems how do you find out for sure enabling you to target them? A good method of identifying if there are communication problems is to talk to the involved parties and try to gain an understanding about their opinion. Why do they think the department underperforms? Do they feel they get all the information and feedback they need to do the job? What would they change if they could? Are their opinions heard and accepted? I is important to keep this feedback confidential in order to ensure that honest feedback is received either through anonymous surveys or through individual conversations with a neutral party such as an HR manager. Another method is to question staff about the things they should know, e.g. how their work fits in with the business strategy and why they do what they do. If they are not able to answer these questions, it is likely that communication is insufficient or ineffective. Identifying communication problems between managers and staff can be easily identified using above suggestions. By rectifying these major positive impacts on business performance and employee satisfaction can be achieved. A final suggestion on how to identify communication problems between managers and staff is to observe how both parties interact. Are conversations kept courteous and respectful and show trust or are they sharp and without showing signs of a good relationship. Body language should also be observed to identify if both parties listen to each other and communicate effectively or if information is not taken in and heard or offered effectively. A review of the key communication channels used can also be very valuable, e.g. email should be used for clear step to step instructions to ensure understanding, but at the same time direct communication face-to-face or per telephone is needed to ensure a relationship is developing and queries can be easily resolved. 2.Background of the study To avoid the consequences of job dissatisfaction. Employees lack motivation, perform poorly and possess negative attitudes means that they are dissatisfaction on the jobs. These symptoms can directly affect a company’s profit and vision. We should understand the reasons why employees are unhappy at work. Understanding the causes can help us find the right solutions. To improve employee motivation and performance, we wonder how to get employees to work with a higher degree of effort. What motivates an employee to perform varies from employee to employee. Some people work to satisfy needs, meet goals or fulfill accomplishments. Motivation to perform is not a rule that can be enforced; it comes from within the employee. To inspire motivation, we must create a work environment that encourages employees to feel motivated. Improve employees’ engagement to prevent unhappiness, turnover and even profit declines. To improve teamwork, is to realize the importance of teamwork and become proactive about having colleagues work together as an important element of the business. We need to improve and enhancing employee’s job satisfaction, engagement, collaboration and teamwork to resulting in increased productivity. Employees are a companys livelihood. How they feel about the work they are doing and the results received from that work directly impact company’s performance and, ultimately, its stability. For instance, if employees are highly motivated and proactive, they will do whatever is necessary to achieve the goals as well as keep track of performance to address any potential challenges. Employees have low motivation is completely vulnerable to both internal and external challenges because its employees are not going the extra mile to maintain the company stability. An unstable ultimately underperforms. 3. Introduction and background of Hotel 3.1 Introduction background of Hotel We are one of Hong Kongs best designed hotel are perfect choice for travelers who demand the best short term stay and long term accommodation. Since we opened in 1997, our hotel in central Hong Kong has been recognized by guests and the hospitality industry for its outstanding performance. The 350 guest rooms are all tastefully furnished and are completed direct telephone line with voice mail. Our equipped kitchenettes include microwave, induction cooker and refrigerator and broadband internet access are available in our hotel. Location Situated in the heart of Hong Kong Island, superbly located in the mid-levels commanding spectacular views of Hong Kong Island and Victoria harbor. It is also a prestigious address that enjoys the proximity to prime business districts of Central and Admiralty. Attraction The Hong Kong Park and Botanical Garden are in the proximity, with lush greenery and ample open space nearby Central MTR station and Hong Kongs popular nightspot Lan Kwai Fong are also within 10 minutes walking distance. Well connected by public transport to the main shopping district areas, Causeway Bay Hong Kong. It is perfectly located in an area with a mix of history, art culture, and a touch of stylish contemporary. Antique shops, art galleries and designers boutiques scattered around, together with high rise office buildings, massive shopping centre and party venues of Lan Kwai Fong and SoHo. 3.2 Hotel Structure The Hotel structure thats split into two basic groups: administrative and operations. The administrative side of the structure includes such departments as sales and marketing, accounting and human resources. The operations side is generally split further into food and beverage and rooms. Both administration and operations report to the general manager. The administrative group is fairly straightforward. Any function that does not consistently interact with the guests or impact the service level falls into this group. The operations group is a bit more complicated. Food and beverage, for instance, might include the hotels restaurants, bars, nightclubs, banquets department, catering department and sometimes room service. Rooms might include the front desk and front-door personnel, housekeeping, concierge, guest services and sometimes security and engineering. Human Resources Department The human resources department plays a vital role in a hotel’s efficient operation. The functions of the human resources department are employee recruitment, benefits administration and training. Although the human resources department recruits, interviews, and screens prospective employees, the final hiring decision rests within the department in which the potential employee will be working. Accounting Department The accounting department’s responsibilities are include recording financial transactions, preparing and interpreting financial statements and providing the managers of other departments with timely reports of operating results. Other responsibilities, carried out by the assistant controller for finance, include payroll preparation, ac-counts receivable, and accounts payable. Rooms Department Responsibilities of the rooms department include reservations, guest reception, room assignment, tracking the status of rooms (available or occupied), prompt forwarding of mail and phone messages, security, housekeeping of guest rooms and public spaces such as lobbies, and answering guests’ questions. This very department provides the services guests expect during their stay in the Hotel. The front office is usually considered one of the most important departments in a hotel because that is where the most interaction with the hotel guests takes place. Frequent and consistent communication among front-office functions is critical. Reservations, for instance, must communicate with the front desk each day about the number of rooms that have been presold. The front desk must communicate with housekeeping staff members to let them know when guests check out. Management for all front-office departments must stress consistent and frequent communication to ensure a smooth-running operation. The housekeeping department is vital to attracting and keeping guests through its role of maintaining top quality decor, cleanliness and service. The housekeeping department includes many roles in the service staff of a hotel. Aside from room attendants, who tend to room cleanliness, the department includes gardeners, maintenance men, bellhops, laundry staff and floor managers, as well as, occasionally, customer service professionals. Food and Beverage Department Food and beverage department is to provide food and drink to a hotel’s guests. Arrange multiple events scheduled for the guest. A coffee shop, gourmet restaurant, room service, banquet halls and function rooms where food and beverages are served. This department is an integral place in the hotel which is responsible for the systematic and the actual Service of food and beverage to the general public or customers as per the order in any F B outlets. Marketing and Sales Department The marketing and sales department’s managers who make up the marketing and sales department are sales, or the selling of the hotel facilities and services to individuals and groups. Sales managers sell rooms, food, and beverages to potential clients through advertising, attendance at association and conference meetings and direct contacts. The marketing and sales department is also removed from most of the day-to-day operational problems faced by other departments. The division of work among the sales managers is based on the type of customers a hotel is attempting to attract. Engineering Department The engineering department’s responsibilities include preventive maintenance; repair; replacement; improvement and modification to furniture, fixtures, and equipment; and ensuring uninterrupted provision of utilities (gas, electricity, water). Preventive maintenance involves routine checks and inspection of the key components of all equipment. Maintenance of recreational facilities may be part of the engineering department’s responsibilities. the engineering department’s responsibilities include preventive maintenance; repair; replacement; improvement and modification to furniture, fixtures, and equipment (FFE); and ensuring uninterrupted provision of utilities (gas, electricity, water). Organization Chart Appendix I 4.Methodologies 4.1 Questionnaire (anonymous) A staff questionnaire is an effective tool used to find out what the employees feel about the organization, it policies, work environment, job responsibilities, co-workers, superiors etc. In any work environment, it is important for the upper management to be aware of what its staff wants and expects; this will lead to better retention of employees and a mutually productive relationship between the staff and the boss. Staff questionnaires to discover what are employees really thinking. These are completed on an anonymous basis usually once or twice a year. Because the employees cant be identified we are more likely to get honest answers. This information can be revealing; it may also help to tackle hidden problems quickly and, more importantly, before staff gets blown out of proportion. Sample of Questionnaire Appendix II 5.Analysis finding of current problems 5.1Problems in communications Some employees might also be afraid or not feel comfortable to speak up about problems they are having with other co-workers. Some employees might think that if they speak up about trouble they are having they will be frowned upon for future projects. 5.2Employees initiative and commitment Some employee not willing to handle multiple tasks, responsibilities and take on new challenges. Hidden interest in and no enthusiasm for the job and completes assignments slowly and non-efficiently. Not able to adapt to new situations and changing work priorities and responsibilities when needed. 5.3Employee job dissatisfaction Staff expects to get a commensurate reward. The wage should be fair, reasonable and equitable. Employees who feel stuck in their job position are less motivated to maintain high productivity. Managers with poor leadership skills tend to offer little feedback on employees’ performances. 5.4Inter-department conflicts A manager or employee will know an important piece of information, and assume that because he knows it, then everyone else must know it as well. 5.5Employees’ behavior Employees feel threatened by fellow employees, experience workplace burnout, lack respect for management and feel unappreciated. 6. Conclusion Businesses without effective staff communication suffer from lost profits, poor productivity and poor employee morale. In order to solve many business problems, employees need to be able to collaborate and cooperate effectively. Good communication can encourage employees to work harder, solve problems together and work towards a common goal. It is the job of every supervisor, manager or boss to make sure employees are communicating effectively. If a department suffers from high staff turnover, this often can be a sign of poor communication between and supervisor and the team. If the team doesn’t understand what is expected from them, received unclear instructions or is not sure about the overall strategy and why they are asked to do what they do – all issues down to poor communication – they often feel dissatisfied and this can result in employees leaving the business after a relatively short period of time. Another cause that can justify reviewing if there are any departmental communication problems is low motivation, productivity and poor business performance. If staff does not receive the information they require or do not feel appreciated, valued and kept informed they might not go the ‘extra mile’ for their employer. They might feel frustrated and can’t see the point of what they are doing and this in turn leads to poor performance. Employees feel dissatisfied with their jobs at one point or another. Some employees leave their jobs for better opportunities, while others choose to stay. Employees with low job satisfaction can negatively affect a company because they typically lack motivation, perform poorly and possess negative attitudes. These symptoms can directly affect a company’s bottom line. Managers should understand the reasons employees are unhappy at work. Understanding the causes can help managers find the right solutions. One of the primary reasons for job dissatisfaction results from companies underpaying workers. The stress of paying bills with limited income causes many workers to feel dissatisfied with their jobs. A lack of career growth and advancement is another reason why employees are dissatisfied at their jobs. Employees who feel stuck in their job position are less motivated to maintain high productivity than those who do not. Workers feel valued when employers include them in their long-term plans and show their appreciation through promotions. Employees who move up in an organization and receive just compensation to reflect their title and responsibility changes usually commit themselves to the company for the long term. A lack of interest in the work is another reason why employees are unhappy. Most employees want to perform job duties that are engaging and challenging. Monotonous work causes an employee to experience boredom. Bored and unchallenged employees experience little incentive to concern themselves with workplace productivity. The nature of employees work accounts for the most situational influence in workplace satisfaction. A key reason employees perform poorly in the workplace is poor management. Managers with poor leadership skills tend to offer little feedback on employees’ performances. Micromanaging and dictating to employees instead of motivating them can cause a decrease in employee productivity. Poor communication is one of the main causes of conflict between employees in the workplace. This can result in a difference in communication styles or a failure to communicate. For example, a manager reassigned an employee’s task to the employee’s co-worker but failed to communicate the reassignment to the employee. This may cause the employee to feel slighted, which can transform into animosity among the two employees and the manager. Failing to communicate in the workplace may cause employees to make incorrect assumptions and believe workplace gossip. Poor communication in the workplace not only causes conflict but decreases productivity and employee morale.

Overview of Martin Luthers Christian Liberty Essay Example for Free

Overview of Martin Luthers Christian Liberty Essay Martin Luthers pamphlet, Christian Liberty, describes his feelings towards the Church. He did not agree with what the Church did. For example, the church had too many restrictions. Meaning that you could not practice another religion. Also, the Church had indulgences, which are supposed to be where if someone sinned, they would go to the church and pray, and have the church forgive you. But the idea of indulgences to the Catholic Church was if you sinned, then you were to pay a certain amount of money and then your sin would have been forgotten. Luther thought the Church should be about faith, not all about power and money. In the pamphlet, Luther believes that faith nurtures the body and soul. He believed that the Church did not believe in that. Luther eventually broke away from the Church for several reasons. Some reasons were how the Church made people pay for their indulgences, how that they had too many restrictions, and how the Church had so much power and how they abused it. Luther stated in his pamphlet, From this anyone can clearly see how a Christian is free from all things and over all things so that he needs no works to make him righteous and save him, since faith alone abundantly confers all these things. Luther in this sentence is saying how things such as indulgences are not needed to make him a better Christian, but if a man has enough faith, it alone will do the job. Luther also states that for preachers not to preach only about repentance, but also about the faith of the religion. The criticism that Luther has towards the preachers was that they abused authority that they dont preach commandments and promises, and they dont work solely out of serving ones neighbor; they do it seeking their own profit. Luther was also angry with priests who use the word of Christ to make people dislike Jews. He believes that they should pray for the people and teach the people by example. Martin Luthers solutions took the middle course and faced up too how, They want to show that they are free men and Christians only by despising and finding fault with ceremonies. What Luther meant by this was that the religious ceremonies done was not how they used to be; now they entail only the power that the Church has among the people. Luther believed that you should join a church and do as they say not to gain righteousness, but out  of respect for them. He said this by, I will fast, pray, do this and that as men command, not because it is necessary to my righteousness or salvation; but that I may show due respect to the pope, the bishop, the community, a magistrate, or my neighbor. Martin Luther believed of three powers or benefits of faith. One was that Christians are free from the land. If we honor God, he will honor us. He will see us as righteous and truthful people. Faith writes the soul with Christ. Christian soul therefore has all the good characteristics of Christ. Also Luther believes that faith gives us freedom. He states this by writing, It is clear, then, that a Christian has all he needs in faith and needs no works to justify him; and if he needs no need of works, he has no need of the law; and if he has no need of the law, surely he is free from the law. Since we are not perfect on earth, works help keep us moving towards our goal of perfection. Do works freely, only to please God. This is said by, however, we are not wholly recreated, and our faith and love are not yet perfect, these are to be increased, not by external works, however but of themselves. Through work, think only to benefit others. Faith is active through love. Luther stated this by, we should devote all our works to the welfare of others. But works, being inanimate things, cannot glorify God, although they can, if faith is present, be done to the glory of God. What Luther is stating here is if you have enough faith, then you can make the presence of God true. Because works dont lead to righteousness, but with faith works can be done to the glory of God.

A Swot Analysis Of Barclays Bank Finance Essay

A Swot Analysis Of Barclays Bank Finance Essay The global landscape of business had always been faced with inevitable and unpredictable circumstances which has always been challenging for them once they are confronted. Financial institutions, for instance, have been rattled by the global economic downturn which has affected businesses in the recent years. To be bale to alleviate the effect of such circumstances, it is a common practice among businesses to execute measures and practices which are directed towards improving their performance amidst the tragedies in the economic status. One of the many ways in which they can do so is through a SWOT analysis which speaks of evaluation of the organizations strengths, weaknesses, opportunities, and threats. This analysis enables businesses to capitalize on the aspects in which they are strong at and to improve on aspect in which they deem as needing improvement. Barclays Bank is one of the numerous financial or banking institutions in the United Kingdom, which over the years, through their unwavering strategies and efforts, has also conquered the global landscape through its business expansion. In their recent year of operation, the bank is regarded as a global financial services provider, engaging in businesses which deals with retail and commercial banking, credit cards, investment banking, wealth management, and investment management services which extends its operation not only in the United Kingdom but all over the world as well. This international expansion can be traced as early as after the First World War in which the bank has expanded its operation to cater to the needs of other regions such as Africa, The Caribbean, the Near East, and the Mediterranean. The regions which were originally selected for expansion of the financial institution were countries with political links to the United Kingdom (Coulbeck, 1984). In the present, ho wever, the business has continued its expansion on its quest to serve more markets and to establish a global presence. At present, rattled by the various economic troubles and the unpredictable future, Barclays is in continued operation with much focus and attention dedicated towards better serving the public and towards the sustainability of their business through responsible financing and business operation (Barclays, 2010). In this study the researcher will be formulating a SWOT strategy analysis for Barclays Bank to provide a more intensive analysis and evaluation of the banks operation. The analysis of a companys strengths, weaknesses, opportunities, and threats, is the starting point of strategy formulation as it provides a thorough evaluation and analysis of the business strengths and weaknesses which are actually internal to their operation and the opportunities and threats which can be further analyzed by looking at the external environment. The results of this analysis can be used at the maximum by exploiting the strengths and opportunities of the organization while neutralizing the threats and deliberately avoiding the weaknesses (Griffin, 2008). STRENGHTS OF BARCLAYS The strength of a company gives the business it competitive edge over other players in the same industry of even among indirect players which can still be classified as participants in the competition. These strengths could include their special capability, resources, or skills which set them apart of the competition like their market dominance and a pleasant financial performance which is set to make them perform better in the following years of operation (Stapleton Thomas, 1998). One of the strengths which can be attributed to the operation of Barclays Bank is its worldwide presence. The international expansion of this financial institution has enabled the business to tap more market and more territories which gave them the advantages of enjoying the economies of scale and it let them enjoyed the benefit of allowing risks to be spread among its numerous bank locations. Their presence in different locations among different countries increases the potential of the business as they become more known in the field of finance and banking industry. The bank has a huge global presence across regions like Europe, South America, North America, Africa and Asia serving almost 50 million clients (BankAdvisor, n.d.) 2007 2008 2009 2007 2008 2009 The two charts which were presented above show another strengths reaped by the bank in the past year. The first chart shows a comparative three year analysis of economic profit which is deemed as one essential key performance indicator of the business. This refers to the firms profit after tax and other non-controlling interests less capital charges. The higher economic profit of Barclays this year as compared to the previous year is indicative of its good performance as such reflects a growth in the banks profit and reflects their efficient use of capital. This strength of Barclays necessitates that the company is doing good in terms of being able to generate economic revenue which is also reflective of good financial performance in the previous year. This goes to show that the company is performing well amidst economic difficulties. Furthermore, the second graph shows the profit before tax of the bank. The chart shows that their profit this year is significantly higher compared to the previous year, another indicator if the companys strength despite the major challenges in the global economic situation particularly affecting international financial institutions. The total profit before tax is one of the most essential profitability measures which can be used to assess and evaluate the performance of a particular company in a given year. It is used as a key indicator of the financial performance which most investors gauge in order to determine how successful a business performed in the past year. The financial data of Barclays, based on their Annual Company Report, reflects an almost doubled profit before tax compared to the previous year. This is another strength which can be considered for the company and such can be able to attract more investments because of the relatively good business in the past year. WEAKNESSES OF BARCLAYS Aside from the strengths of Barclays Bank which were enumerated above, it is also important that we take a look at its corresponding weaknesses. The weaknesses of a business the weaknesses of a business illustrates the areas in which they have not shown exemplary performance and the areas in which they did not show desired or anticipated results. These weaknesses can refere to the traits in which they need improvement. Once carefully identified and stipulated, their weaknesses can help them formulate better strategies and practices so that they can be assured of a better performance. One of the weaknesses of Barclays is its control systems. Because of their deemed defective and inefficient control systems, they were fined in September of last year. This can be classified as their weakness because this tarnished the name in the industry of financial institutions and caused them to have a bad reputation in the eyes of the public. They were fined because of their failure to provide daily data regarding bank transactions which will be used by the government to be able to track and investigate suspected abuse in the trading and also cases of manipulation in the market. This tougher banking regulation has also affected some of the major banks in Europe. Unfortunately, it costs Barclays a lot as they paid a fine amounting to 2.45 million pounds because of this violation on the government laws. The fine would have been bigger if in case they did not cooperate earlier to be able to settle the case (Olson, 2009). 2008 2009 The chart which was illustrated above shows another weakness of the performance of Barclays based on its performance in the previous year. The chart shows the comparative analysis on the number of Barclayard users or customers for the past two years. Barclayard is an international credit card that is multi branded. It is one of the leading credit card businesses in Europe with a relatively growing market in America and other parts of the world as well. The number of customers handling the aforementioned credit card was brought to an entire almost two million customers low this year. This can be attributed to the fact that because of the financial and global economic crisis which hit the world in the previous years, fewer customers are interested on credit purchases because of the uncertainty of their respective financial situations. This can be regarded as a weakness for Barclays because this only illustrates that although other parts of the business is earning, this particular secto r of the business is beginning to lose its customer base which might actually worsen in the next years and can inevitably result into decreased profits. Aside from what has been mentioned, another factor which can be regarded as the weakness of Barclays is that it gives out large amount of bonuses to the members of the Board of Directors. Such practice has gained numerous comments and criticisms from different groups in the past. If such practice will continue, it will haunt them in their operation and will cause more eyes to be focused on them and can even reveal further problems and weaknesses which are inherent in the operation of the business. OPPORTUNITIES FOR BARCLAYS The opportunities which confront the operation of international businesses is another factor which should be evaluated when analyzing the performance of a specific company. These opportunities can open new door for the business, can be basis for expansion or extension of operation, and can give way to opening of new businesses and catering to more markets which were not served before. One of the opportunities for Barclays is the increasing importance of the role which is played by the banks in the society nowadays (Varley, 2009). Despite the numerous disadvantages which were brought about by the financial and global economic crisis, the role of the banks in the society did not weaken; rather it experienced increased importance especially in its ability to provide reliable and efficient payment systems, safe storage for savings and deposit, maturity transformation, management of asset and other investments. This increasing importance of banks amidst financial turmoil provides the indu stry greater opportunities to open its doors into new businesses and ventures which can bring them generous amount of profit and will let them enjoy sustainable competitive advantage in the long run. 2007 2008 2009 2007 2008 2009 The two charts which were presented above also shows areas of opportunity for Barclays Bank. The first one shows the levels of customer satisfaction. in the past years, the level of satisfaction was only 67% versus this years 72%. It is shown that there is a significant increase which means that there is a relatively larger number of customers this year who felt that there is an improvement in the quality of service provided by the bank. This can be classified as an opportunity because this can lead to more strategies focused on the customers and services which could better satisfy their needs. This can also serve as an indicator of more expansion in the line of services they provide since more people are happier with the output and quality of their service provision. The heightened percentage in the level of customer satisfaction can help the business realize more opportunities which are people-related and it can also provide them with the opportunity to develop only better services to be assured of higher satisfaction ratings in the years to come. Furthermore, the second chart shows the amount of income generated internationally. This reflects revenue which was generated from their banks and other forms of businesses outside the United Kingdom. For the year 2008, their international income reached a percentage of 47, and it increased to 57% this year, this goes to show that there is more profit this year generated from international operation as compared to the previous year. This international diversification of the organizations income will provide them with an opportunity to lower the occurrence of risk as they are displaced on a number of locations. The increase in the percentage of income generated from international operation can also provide them with the opportunity to put up more locations in other countries and opportunity to improve service in other countries since these branches are bringing them more revenue year after year. THREATS FOR BARCLAYS The threats which confront any business are as timeless and inevitable as what have been previously discussed. These threats can extend from internal to external and from mild to complex. Companies must be ready once they are confronted with these threats to be bale to sustain and survive in the ever competitive world of business. Threat should be managed carefully to be able to outplay the competition and overcome the struggles which were brought about by such challenges. 2007 2008 2009 The chart which was presented above shows one of the threats confronting the operation of Barclays. It must be noted that in the opportunities section, the rseracher included the increase in income generated from international expansion as a remarkable opportunity because there is a significant increase in the income from the said section of the business. However, needles to say, the increase in income does not always equate to satisfactory international performance. The chart above shows that almost 100 branches outside the United Kingdom closed as compared to the number of branches in the previous year. The closure of these branches is attributed to the fact that they can be bypassed in terms pof performance of some banking transactions which does not need an actual banking operation to take effect. However, the closure of such branches also poses a serious threat to the business because it only means that there is a reduction in the number of locations in which people can transact actual and physically. Because they have reduced the number of their merchant locations, clients may then be prompted to explore the options they are confronted and might actually opt for other banking service provider. Another threat to the operation of Barclays bank would be the increased competition among financial institutions not only in the United Kingdom, but in the international market as well. Although the world has been confronted with financial and economic crunches, the role of banks in the society and in the lives of the people has continued to increase overtime as its function also increased significantly. With that, if there is a relatively low rate of new entrants, it cannot be denied that those who jhave already been in the top are perpetually increasing their efforts to tap more markets globally. Their efforts and strategies are unwavering towards provision of better public service which in turn can give the customers a sense of satisfaction. Because of these efforts and strategies, competition has been more stringent as they utilize more marketing tools which are helping them in their operations. This increased and tightened competition can prove to be unhealthy especially if the efforts of Barclays are not directed towards strategies to survive the competitive playground. Another threat to the operation of Barclays could be the fact that the company has been reputed for closing too many branches in the past, specifically in the year 2000. Such act can lower their competitive position and can create and imagery without credibility and assurance in terms of their operation. The closure of these branches could actually mean weak financial performance thereby threatening both the investors and its array of potential clients. CONCLUSION The global financial and banking industry is not exempted from the economic and financial turmoil which confronts international businesses. In fact, these financial institutions can even feel the greater effect of the predicament as they are concerned with how the world turns around financially. However, a careful analysis of the financial institutions strengths, weaknesses, opportunities, and threats can be of help to be able to formulate better strategies and in order to eliminate practices which are not showing efficiency in their global operations. A careful analysis of such could be able to help them determine and improve their position with regards to competition. The analysis on Barclays shows that they are still in a stable competitive position despite the predicaments which confront their operation. They have a stable financial and management base which enables them to manage the adversaries which are perpetually striking the global businesses.