Emphasizing the Environment

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Emphasising the Environment 1 EMPHASISING THE ENVIRONMENT By Student Name By Student ID Professor Name Course Name January 14, 2023

Emphasising the Environment 2 Introduction Natural resource management is becoming more integral to day-to-day operations as a result of increasing demand from customers, suppliers, and the public at large to lessen the environmental effect of goods and processes. Managers have a crucial role in determining the environmental impact of industrial operations via their choices of raw materials, energy consumption, pollution emissions, and waste (Barclay and Miller, 2018). Concern for the environment has risen and evolved over the last three decades, and with it, from a narrow focus on pollution control, our conceptual understanding of environmental concerns has expanded to include several management techniques, regulations, and technological advancements. Considering environmental problems early on in the planning process is essential as the need to implement sustainable development concepts into manufacturing increases. Sustainable development is the practise of incorporating environmental management into the early stages of product creation, including brainstorming, design, and the use of appropriate technologies (Brooks et al., 2020). Overview of the Organization As a worldwide financial organisation, Barclays Bank caters to both its present and potential clientele, individuals who do not yet have a Barclays account but who transact with customers who do. Anyone who has an account with a bank or other financial institution is considered a customer, regardless of the amount in their balance. Barclays, whose headquarters are located in London, has several branches all over the world (Esteves and Barclay, 2011). Barclays' primary activities are on retail banking, corporate banking, and investment banking. When it comes to financial services, Barclays is unrivalled across the world. As a great place to

Emphasising the Environment 3 work, the company has received high marks. They've earned a stellar reputation among employees thanks to generous benefits and compensation that make it less likely that staff would go elsewhere for gainful employment. Barclays Bank's success is primarily attributable to the HR team's hard work. This is due of the rewards offered to employees for exceptional work, including as promotions, pay increases, and public acknowledgement (Lloret, 2016). Sustainability Strategies and Challenges The organisation that is Barclays is one that is motivated by its goal. They are able to make intelligent investments in ways that are beneficial to both their customers and the economy as a whole because of the emphasis that they have on the long term. They do it with clear brains and open hearts, all the while arguing for progressive principles that have an influence that is long-lasting. They can't afford to be subtle about their goals because they want to make a significant difference in the world (Migwa, 2012). The world of finance is presented with a once- in-a-lifetime chance to have a positive impact on both human existence and the natural environment. This foundational premise is the source of the widely held notion that businesses can and should behave ethically. When it comes to facilitating the movement of cash between lenders and investors, banks play an absolutely crucial role. Barclays considers the prosperity of the neighbourhoods and companies it serves to be an essential component of its own commercial success (Nyamao, 2010). The public has very high expectations of companies, and these expectations are continually growing. The goal of the firm is to fulfil these requirements even before they are formulated. They may have the greatest possible beneficial influence on the world if they concentrated on our most important products and services as well as the links between them. The

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Emphasising the Environment 4 work they do with their clients and consumers may have a major impact on the development of corporate communities, the preservation of the environment, and the well-being of our employees (Wasike, 2009). When we refer to our company as being "purpose-driven," what we really mean is that the company is working toward a specific objective in the daily operations. The actions that Barclays takes on a daily basis help millions of individuals and companies all around the globe, which in turn benefits the whole global community. For anything to be successful over the long term, it has to be managed responsibly, with an emphasis placed on things like social growth, environmental preservation, and logical decision making (Shealy et al., 2017). The availability of products that are connected to social and environmental financing is being increased across the board by the bank, while at the same time they are keeping a close watch on the effect that their funding is having. The human race, in its capacity as a global financial institution, establishes priorities for allocating financial resources and goes about its business in a way that leaves no one behind (Mwarey, 2022). They believe that properly managing the company's environmental and social repercussions is essential to ensuring the continued success of the company and the ability for the company to continue serving its customers. In addition to being the right thing to do from a moral standpoint, they believe this to be the case because it is the ethical thing to do. The sheer diversity of services the company provides its customers and consumers is evidence that they may have a significant influence on the area immediately around them (Mbwaya, 2012). Climate change is undeniably one of the most difficult and intricate challenges that the world is currently facing. This is due to the fact that it has far-reaching effects not only on the global economy and the physical environment, but also on human populations and the ecosystems that they inhabit. It

Emphasising the Environment 5 would behove Barclays to become involved in the fight against climate change, which the company can accomplish in a number of different ways. They are in a good position to contribute to the acceleration of the transition to a low-carbon economy because of our size and reach (Kitema, 2021). Sustainable Strategy Plan Given the range and depth of the services provided to their clients and consumers, it is reasonable to assume that this enterprise has the ability to have a substantial effect on the environment in which the company find themselves. It is probable that the supply of financial services to businesses engaged in high-risk sectors would have unforeseen detrimental impacts on both the quality of the environment and the well-being of the social community. They believe that effective risk management of the aforementioned environmental and social ramifications is not only the moral thing to do, but also a guarantee that the company will continue to exist and be able to provide for the needs of our consumers (Crosman et al., 2022). The policies and processes that Barclays has in place to manage credit risk and reputation risk also include provisions for monitoring and controlling the bank's environmental and social hazards. The responsibility of overseeing the client transaction review procedure falls on the shoulders of the Environmental Risk Management group, which is a subgroup of the wider Credit Risk Management function. This role also incorporates the Group Sustainability and Reputation Risk teams (Baumgartner and Ebner, 2010). A collection of norms and regulations is what constitutes effective environmental and social risk management. Statements were produced with consultation from a broad variety of external stakeholders, and they were tested against

Emphasising the Environment 6 benchmarks such as the Performance Standards established by the International Finance Corporation (IFC) (Bagot et al., 2018). The bank provides a variety of services, the majority of which are difficult to define and cannot be touched. When attempting to sell a product or service, this is seen by many individuals in the sales profession as a significant barrier to success. Despite the intangible nature of these services, successful marketers may nevertheless make a profit off of them. These types of marketers need to first conjure up a picture in their consumers' minds of what they might anticipate receiving from the service, and then illustrate the value that the service will provide to the client in order to be successful in selling intangible services. When it comes to deciding whether or not a consumer will utilise the services of a bank with confidence or suspicion, the reputation of the bank plays a vital influence in the decision-making process. Customers may choose from a large number of parking spots at Barclays Bank, a financial institution that is known for the quality of its structures (Nyamao, 2010). Customers will want to be affiliated with the bank if it looks to be clever, and this will attract additional customers. Customers will want to be linked with the bank if it appears to be savvy. This strategy would be beneficial to prospective customers who are seeking for a safe place to keep their money and who may potentially become customers. The method in which a bank displays itself to potential clients is similar to the importance that consumers place on their first impressions of businesses; it may be a determining factor for the company (Migwa, 2012). By organising the banking hall in a manner that is favourable to client flow, the customers should get the impression that they are welcome to visit the bank and make advantage of the intangible services offered by the bank. The amount of time that is lost in the waiting area of the bank is a big source of frustration for company owners. Therefore, the majority of bank branches are

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Emphasising the Environment 7 equipped with automated teller machines, often known as ATMs, to provide customers with the convenience they need while making deposits and withdrawals of monies (Mwarey, 2022). Barclays participates in the green bond market in two different capacities: as an investor and as an issuer of green bonds. As part of company’s Sustainable Finance Framework, Barclays makes its green solutions accessible to customers in order to assist a variety of environmentally responsible endeavours (Migwa, 2012). Implementation and Benefits Over the course of the last several years, the idea of "sustainable" has gradually made its way into the mainstream in the real estate industry. The implementation of practises that are responsible for the environment is no longer a voluntary choice for companies of any size. Both the bank's clients and its employees contribute significantly to the financial institution's overall performance. Training staff members to provide superior customer service is one of the responsibilities of HR managers. It is difficult to sell a service unless they have someone working for the company who is experienced with the service and can explain how the buyer would benefit from purchasing it. It is crucial to train staff so that they can provide outstanding service (Lloret, 2016). Last but not least, employees of financial institutions should adhere to a dress code that makes them easily identifiable to customers who may need assistance in the banking hall due to, for example, a lack of reading or writing skills. This makes it easier for customers who may need assistance in the banking hall to locate employees who can help them. Since what the company wear conveys a great deal of information to bank clients, wearing in a certain style is a good

Emphasising the Environment 8 idea. This behaviour may be interpreted in a number of different ways, one of which is that the employees at the bank are ready to serve consumers at any moment (Esteves and Barclay, 2011). In many ways, Barclays Bank stands out from other financial organisations as being exceptional. The premium prices they charge are justified by the superior level of service they provide to their customers. The presence of such a price structure is typical of a respected company that provides superior service to its customers. Because it focuses on a certain sector of the market, the pricing approach used by the bank has proven to be successful. Customers could be segmented further into subgroups so that the company has a better idea of the nature of the relationships they are pursuing. The overwhelming bulk of Barclays Bank's income comes from middle-class customers. These people make up the vast majority of the world's population (Brooks et al., 2020). The financial system is the engine that drives the economy and ensures that it continues to function normally. They use money in a manner that is beneficial to both individuals and companies, and they accomplish this goal by being trustworthy and drawing on their extensive expertise. Our organisation has what it takes to create a positive impact on people's lives by enhancing their financial conditions via the use of the products and services that the company provides. 330 years ago, when our bank was initially established, it was the same as it is now. They aspire to be the industry standard bearer in banking, and in order to achieve this goal, they must constantly act ethically toward their clients and any other vital constituents. They are all able to contribute in some way to the solution of the problem, and we are all aware that the greater the number of people who take action, the greater the overall impact that will be produced (Baumgartner and Ebner, 2010).

Emphasising the Environment 9 The knowledge that they have contributed to making the world a better place and making an impact that will stay is what keeps us going. Altering the normal routine might be beneficial for both customers and the surrounding community. Both a firm's financial performance and its good social and environmental effect must be taken into consideration when assessing the overall success of the organisation. This is due to the inextricable relationship between the two. When all of our clients, customers, communities, and fellow workers are thriving, the company is able to function at its highest level of efficiency and achieve the greatest level of success (Crosman et al., 2022). Conclusion Beyond only distinguishing itself from the competition, the bank has benefited in other ways from its adoption of TQM. TQM may help you strike a better balance between conflicting priorities. If customers are willing to pay a premium for the bank's superior service, the institution will have a greater capacity to produce revenue. The bank benefits from the greater costs it charges for its services, while the customers benefit from the improved quality of those services. Customers will get services with which they are completely happy as a consequence of implementing an overall quality management strategy. In a worst-case scenario, the bank may differentiate itself by offering superior product placement. Customers' impressions of a wide variety of banking products and services are skewed due to positioning issues include wrong positioning, under-positioning, and over-positioning. There won't be as many of these problems if the bank is able to actively promote to and sell directly to its customers. The bank must set itself apart from competitors by providing services that are superior in terms of cost, quality, and other benefits.

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Emphasising the Environment 10 Reference Bagot, K.L., Moloczij, N., Barclay-Moss, K., Vu, M., Bladin, C.F. and Cadilhac, D.A. (2018). Sustainable implementation of innovative, technology-based health care practices: A qualitative case study from stroke telemedicine. Journal of Telemedicine and Telecare , [online] 26(1-2), pp.79–91. Available at: https://journals.sagepub.com/doi/abs/10.1177/1357633X18792380 [Accessed 14 Jan. 2023]. Barclay, K. and Miller, A. (2018). The Sustainable Seafood Movement Is a Governance Concert, with the Audience Playing a Key Role. Sustainability , [online] 10(2), p.180. Available at: https://www.mdpi.com/253484 [Accessed 14 Jan. 2023]. Baumgartner, R.J. and Ebner, D. (2010). Corporate sustainability strategies: sustainability profiles and maturity levels. Sustainable Development , [online] 18(2), pp.76–89. Available at: https://onlinelibrary.wiley.com/doi/abs/10.1002/sd.447 [Accessed 14 Jan. 2023]. Brooks, K., Barclay, K., Grafton, R.Q. and Gollan, N. (2020). Transforming coastal and marine management: Deliberative democracy and integrated management in New South Wales, Australia. Marine Policy , [online] p.104053. Available at: https://www.sciencedirect.com/science/article/pii/S0308597X20301470 [Accessed 14 Jan. 2023]. Crosman, K.M., Allison, E.H., Ota, Y., Cisneros-Montemayor, A.M., Singh, G.G., Swartz, W., Bailey, M., Barclay, K.M., Blume, G., Colléter, M., Fabinyi, M., Faustman, E.M., Fielding, R., Griffin, P.J., Hanich, Q., Harden-Davies, H., Kelly, R.P., Kenny, T.-A., Klinger, T. and Kittinger, J.N. (2022). Social equity is key to sustainable ocean governance. npj Ocean Sustainability , [online] 1(1). Available at: https://www.nature.com/articles/s44183-022-00001-7 [Accessed 14 Jan. 2023]. Esteves, A.M. and Barclay, M.-A. (2011). New Approaches to Evaluating the Performance of Corporate–Community Partnerships: A Case Study from the Minerals Sector. Journal of Business Ethics , [online] 103(2), pp.189–202. Available at: https://link.springer.com/article/10.1007/s10551-011-0860-7 [Accessed 14 Jan. 2023].

Emphasising the Environment 11 Kitema, C. (2021). Separation as a Corporate Strategy: the Case Study of Barclays Bank Plc and Absa Bank PLC . [online] erepository.uonbi.ac.ke. Available at: http://erepository.uonbi.ac.ke/handle/11295/160634 [Accessed 14 Jan. 2023]. Lloret, A. (2016). Modeling corporate sustainability strategy. Journal of Business Research , [online] 69(2), pp.418–425. Available at: https://www.sciencedirect.com/science/article/pii/S0148296315002787 [Accessed 14 Jan. 2023]. Mbwaya, E.L. (2012). Strategic management practices at Barclays bank of Kenya . [online] erepository.uonbi.ac.ke. Available at: http://erepository.uonbi.ac.ke/handle/11295/10790 [Accessed 14 Jan. 2023]. Migwa, E. (2012). Strategic Commercial Risk Management In The Credit Card Industry: A Case Study of Barclaycard - Barclays Bank (K) Ltd . [online] erepo.usiu.ac.ke. Available at: http://erepo.usiu.ac.ke/handle/11732/6320. Mwarey, R.C. (2022). Strategic responses to competition by Barclays Bank of Kenya Limited. Uonbi.ac.ke . [online] Available at: http://erepository.uonbi.ac.ke/handle/11295/23010 [Accessed 14 Jan. 2023]. Nyamao, A.M. (2010). Challenges in the implementation of competitive strategies by Barclays Bank of Kenya Ltd . [online] erepository.uonbi.ac.ke. Available at: http://erepository.uonbi.ac.ke/handle/11295/5817 [Accessed 14 Jan. 2023]. Shealy, T., Klotz, L., Godwin, A., Hazari, Z., Potvin, G., Barclay, N. and Cribbs, J. (2017). High school experiences and climate change beliefs of first year college students in the United States. Environmental Education Research , [online] 25(6), pp.925–935. Available at: https://www.tandfonline.com/doi/abs/10.1080/13504622.2017.1293009 [Accessed 14 Jan. 2023]. Wasike, G.C. (2009). Competitive strategies adopted by Barclays Bank of Kenya in counteracting industry competition . [online] erepository.uonbi.ac.ke. Available at: http://erepository.uonbi.ac.ke/handle/11295/5104 [Accessed 14 Jan. 2023].

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