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12/14/2015
Research Papers: Case study Barclay's and Lehman Brothers
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Research Papers
Thursday, 24 January 2013
Blog Archive
Case study Barclay's and Lehman Brothers
▼ 2013 (7)
► June (3)
► March (3)
CONTENT PAGE
Section Page No
▼ January (1)
Case study Barclay's and
Lehman Brothers
Introduction 3
1: The importance of corporate communication to B&L
1
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2: The link between B&L’s communication and its key objectives 5
1
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1: Plan of an internal corporate communications audit of B&L 7
2
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3: The effectiveness of current levels of practise at B&L 10
3: An external corporate communication audit for B&L
3
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2: External communication audit conducted so for 13
3
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1: The objective of a corporate communication strategy for B&L 15
4
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3: Appropriate measures to monitor a planned corporate communications strategy for
B&L 18
Conclusion 20
Bibliography 21
Introduction
“Corporate communication” is being used to describe the management function and the effectiveness of
how information is communicated internally and externally
...
Furthermore, corporate
communication is also seen by some as referring only to an organisation’s external communication
...
The focus of corporate communication is mainly
on the internal and external environment, with great emphasis on the financial sector
...
According to the case study, the integration of the two businesses had to be done quickly to prevent the
disruption in the business and mitigate the transfer of clients to other investment banks
...
B&L Corporate communication strategy is based on assisting the organisation to adapt to its environment
by achieving acceptable behaviour; identifying and motivating the demotivated employees, while
managing the cultural differences facing the organization
...
Corporate communication strategy entails formulating clearly what should be communicated to
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Communication goals to be addressed in plans/campaigns are developed based on
the corporate communication strategy for each strategic issue
...
1
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B&L face many challenges these include culture differences, employees lack of selfmotivation B&L had
to address the communication issues in order for them to create a healthy working environment
...
The Lehman’s employees were very demotivated and demoralized due to a number of factors these include
job security and cultural issues
...
livestrong
...
d) communication is the process of sharing information thoughts and
feeling between people through speaking, writing or body language
...
Effective communication helps with the motivational aspect of the organization
therefore the company can gain competitive advantage over their competition through good
communication; good communication was an important element to the successful acquisition and
successful implementation of B&L
...
Government bodies such as,
HMRC is a stakeholder who is more interested in the revenue generated while the Financial Service
Authority (FSA) is more concern with how the business conduct itself
...
Base on the organizational behaviour theories cited in the case study cited by (Douglas, Zivnuska, 2008), it
seems like the action going forward by Barclays is to build the organizational commitment of Lehman
employees while ensuring the effectiveness of the leadership of Barclays senior managers
...
1
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d) corporate communication is about managing perceptions about an organization,
i
...
its corporate culture, it’s corporate identity, its corporate philosophy, its corporate citizenship and it’s
place in the market
...
After taking a look at both companies the major differences includes culture, work ethics and
the flow of authority and the key objectives of B&L is to bring together two set of different work force to
form one common workforce, that is, a healthy working environment
...
According to the case study, Barclays had to solve the conflicts between the employees of both
organizations; this was achieved by strategically allocating resources to Lehman employees by providing
relevant roles and responsibilities for the key employees
...
B&L had to form a communication strategy to motivate the staff of Lehman Brothers; the staffs were
very demotivated because of the failure of the company and to worsen the situation their jobs were at risk
...
Example, “provide meaningful rewards for the Lehman employees at year end,
giving opportunity prospect”
The objective of good communication is to achieve the company mission and objectives, the shareholders
and stakeholders are concern whenever an acquisition or takeover is announced
...
Barclays had to reassure the shareholders and stakeholders that the new acquisition will not harm the future
or the strength of Barclays PLC in fact the acquisition will see the company gaining competitive advantage
over their competitors
...
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Barclays capitalized on the weakness of Lehman, seeing them acquiring Lehman at a record price below
market value at a Wapping $1
...
Major concerns were raise over the record deal and the integrity of the acquisition
...
Investors and shareholders were worried about the position the acquisition may put Barclays in, even
though the windfall was tremendously great
...
Barclays have a responsibility to the employees, shareholders, stakeholders and investors; this is where
communication plays a pivotal role, Barclays had to communicate both internally and externally, this was
necessary in order to address any concerns the affected parties might have
...
brickmarketing
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d), a brand is the idea or image of a specific product and service
that consumers can connect with
...
Communication is an effective way of
communicating to shareholders and customers of both companies, according to the case study “The
managers of Barclays had to work together to build and enhance the Barclays brand”
...
d) Barclays became a truly global banking brand in 2008 when it
acquired the investment banking operation of Lehman Brothers during the global economic crisis
...
2
...
Inregards to B&L internal audit was necessary inorder to
check if the integration process is running as expected and the company needs and objectives are being
met
...
Step 2
Selecting the appropriate research methods
...
Step 3
Evaluate all the information collected and communicated in the past
This step will see he managers of Barclays asking themselves some straight forward questions these are:
How did we communicate with the staffs of Lehman Brothers and Barclays? Did we communicate
effectively? Did they understand what was communicated? If not what didn’t they understand and why
didn’t they understand?
Base on the finding of step 13 Barclays can use the information to put together an appropriate method of
communicating more effectively
...
The culture difference was a big problem Barclays and Lehman Brothers face during the integration
process; therefore there should be consistent communication during and after the integration process
...
The
information must be communicated to the right group, more importantly the message must not be a
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Medium of communication
The information must be readily accessible and communicated using several methods; this will reduce the
chance of communication failure
...
2
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Internal audit is conducted to understand and check for weaknesses in the existing communication system;
hence weaknesses can easily be spotted and corrected on time
...
Internal communication will help the management of Barclays to familiarize themselves with the cultural
differences of Lehman Staff
...
Cultural differences
B
...
Communication
Internal audit communications help Barclays to identify and manage the conflicts that existed and were
starting to manifest in the integration of the business
...
According to the case study “ Barclays as the key surviving entity, has an advantage as its culture
would have the dominant base, in spite of been the dominant entity, through good communication
Barclays were able to motivated the Lehman staffs while creating a common culture that suit both the
organizations”
...
2
...
The Acquisition was not only financial however Barclays were able to integrate both companies together,
the business style of Lehman was quiet different from the business style of nevertheless Barclays were able
to successfully integrate both companies while addressing the cultural and motivational problems facing
the company
...
With good planning and effective communication Barclays were able to successfully acquire and integrate
Lehman Brother in spite of the current economic crises
...
Achieving this was a Hugh challenge for Barclays, anyhow this was achievable by recognising the hard
work of Lehman employees and rewarding them while giving them new important roles, hence Barclays
was able to motivate the demotivated while getting them to start working has a team
...
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An external communication Audit will ask the following:
What are B&L current goals and objectives for communicating?
How well is the current Communications Plan working? Are we delivering our messages clear and
consistent?
Are we reaching key audiences with our messages and moving them to action?
Are we effective in our communication? What do stakeholders think of our communications?
Do our communications support our overall strategic plan? What would make our communications more
effective? What communications opportunities are we missing?
During the communication audit information such as Information about B&L current communication
strategy is gathered with tools such as surveys, interviews, focus groups, network analysis, content analysis
and technology assessment, these information is use to evaluate and analysed the current audit
...
These steps are as follows:
Step 1
Determine the area to be audited
In the case of Barclays and Lehman Brothers, the area that requires auditing is the way how information is
communicated during the integration process and how shareholders and stakeholders are responding
internally and externally
...
Several methods can be used to gain this information such as, one to one and group interviews,
online and telephone surveys, questionnaires and the World Wide Web
...
Step 4
Conduct a SWOT analysis
This will help B&L to identify their strength, weaknesses, opportunities and threats in their communication
flow and what corrective method can be put in place to improve or mitigate any communication issues
while capitalizing on their communication opportunities
...
3
...
External audit will highlight any
problems or potential problems within the current communication system, hence, giving Barclays the
chance to rectify and communicate any problems to the stakeholders, shareholders and investors on time
...
External audit conducted so for allow Barclays to address concerns raised by shareholders and stakeholders
and also help the managers of Barclays to understand the problems facing the financial market
...
Barclays had to communicate with the different groups in a timely and appropriate manner giving
them the assurance and confidence that the acquisition is a good thing for the company and how the
acquisition will help the company to compete better in today’s global competitive financial market
...
Companies should know at all times whether or not they are communicating effectively and whether the
information communicated is reaching the right targeted group, therefore B&L had to carry out external
audit on a regular basis to determine what people are saying about the company, hence resolving and
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External audit help Barclays to understand the financial,
hence, problems can be dealt with in a timely manner, therefore external audit is of great importance to the
success of the Barclays and the integration of Lehman Brothers
3
...
Some of the
problems faced by Barclays during the acquisition and integration process were, the difference in culture
by both companies and the stakeholders and shareholders concerns about the performance of the company
and the likely risk the company might face if the acquisition should go wrong
...
Barclays was very
effective during the acquisition and the method of communication used to convey the message to the
stakeholders, shareholders and investors was very effective
...
In spite of high criticism and the
bad financial crisis Barclays were able to demonstrate a high level of transparency during the acquisition of
Lehman Brothers
...
Effective communications are developed over a period of time and Barclays was able to clearly
demonstrate how effective communication can be during any economic crisis
...
4
...
The objective of corporate communication strategy is to inform stakeholders and shareholders of any
changes or new acquisition taking place in Barclays
...
Similarly, corporate communication
strategy recognised the need to build strong communication both internally and externally while
delivering excellent service to the customers
...
Communications is a part of management responsibility and the task of communicating to internal and
external audiences is regarded as an integral part of the overall management of B&L
...
Information and communication channels should be equally accessible to the
public, irrespective of personal background and circumstances
...
Effective communication is essential to how B&L work and provide services
...
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Research Papers: Case study Barclay's and Lehman Brothers
Corporate communications is no longer an amateur game (Winter, 1993) but has evolved into a key
management function
...
In the case of
Barclays the correct targeted groups that were interested in the acquisition were the shareholders, investors
and stakeholders like, government bodies, financial bodies, customers, employees, competitors etc
...
Method of communication
Barclays has many established proactive means of communicating with its target audiences, these
includes:
Website – a continually developing communications tool, particularly for customers, investors and
employees
...
News releases – appropriately targeted to reach the relevant targeted groups both national and
internationally
...
All of these channels need to be considered to ensure the message reaches the right audience, at the right
time and in the right ways
...
Example,
shareholders were very worried as to how this acquisition will affect their share interest with Barclays
...
Employees are more concerned with job securities, growth and benefits
...
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Types of Measurement
To determine the aspect of communication required measurement will vary from organization to
organisation and the objective of the information being communicated
...
com, N
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To monitor the appropriate communication strategy B&L have to create a two way communication, this
will see them getting the appropriate feedback both internally and externally, the below can be used to
monitor and give feedback of the effectiveness of a planned corporate communication strategy
...
The
exchange of ideas and views in this group will help generate new ideas and improve existing
channels/methods of communication
...
External
Daily monitoring of press coverage and a daily email report of all stories concerning B&L is
produced, circulated and posted on the intranet
...
Considerable effort is put into dealing with media enquiries, which do not result in publication –
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Review
The Corporate Communications Framework and Action Plan will be reviewed on a regular basis
...
Conclusion
Focusing the efforts of the corporate communication function within a functional strategy, linked to the
company strategy, will assist in proving its contribution to organisational effectiveness
...
Barclays will continue to face cultural issues therefore Barclays has to carryout regular communication
audit to identify and address any potential issues that come with the integration of both organization
...
(2008)
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Retrieved 12 25, 2012, from factiva: www
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Grunig
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Strategic Management, publics and issues
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E (ed)
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(n
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Retrieved 11 20, 2012, from www
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com: www
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(N
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Retrieved 11 20, 2012, from Brandirectory: www
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com/profile/barclays
biznik
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d)
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biznik
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d)
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snapcomms
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d)
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brickmarketing
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(1993)
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London: Kogan Page
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Research Papers: Case study Barclay's and Lehman Brothers
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