StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

The Financial Services Sector in the United Kingdom - Assignment Example

Cite this document
Summary
The study “The Financial Services Sector in the United Kingdom” was constructed involving an interview with a major banking institution in this industry to determine current service marketing strategies at the bank. Results returned that the bank was not properly focused on setting up a control…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.9% of users find it useful
The Financial Services Sector in the United Kingdom
Read Text Preview

Extract of sample "The Financial Services Sector in the United Kingdom"

The Financial Services Sector in the United Kingdom EXECUTIVE SUMMARY The financial services sector in the UK is very large and diverse, consisting of many different business structures offering a plethora of commercial and retail services to consumers. The sector provides 11.6 percent of total government tax receipts and contributes over 11 billion of revenue to the UK economy. This represents a very large sector that is highly beneficial to the national economy. Research findings in the report identified a rather negative political and economic environment that causes many current and potential future challenges to banks. However, social trends for utilisation of social networking and mobile communications provide ample opportunities to engage consumers more efficiently using social media and digital service marketing strategies. A small-scale qualitative study was constructed involving an interview with a major banking institution in this industry to determine current service marketing strategies at the bank. Results returned that the bank was not properly focused on setting up a control and measurement system to evaluate the return on investment for its digital marketing strategy, something dangerous in an industry environment where competitors often replicate successful competitive strategies of major players within an oligopolistic market structure. It is recommended, therefore, that the organisation involved in the study spend the next five years coming up with a better system of measurement and gain real-time consumer sentiment in order to measure whether the digital marketing strategies are meeting with budget expectations and overall satisfying consumers. An analysis of the financial services sector in the United Kingdom Defining the sector The financial services sector in the United Kingdom is rather colossal, consisting of a variety of accountancy businesses, investment firms, credit card companies and banking institutions. In 2004, the industry contributed £8.61 billion to the national economy. By 2011, the sector had grown substantially, providing £11.64 billion to the UK economy (Marks 2013). In 2012, the entire financial services industry contributed 11.6 percent of the total governmental tax receipts (PWC 2012). The sector further employed 1.2 million people in 2012, which is approximately four percent of the entire national workforce. This is substantial in a country where unemployment rates are high and service industries do not provide high salaries for specialised knowledge and experience in an important industry sector. The breadth of different organisations operating and competing in this sector requires an analysis based on the banking industry. Major competing banking institutions in the United Kingdom include Lloyds Banking Group, HSBC, Barclays, Standard Charters and the Royal Bank of Scotland Group. Several competing banks have very long-standing histories in the United Kingdom, thereby giving them a recognised brand identity throughout the country. The Royal Bank of Scotland Group was established in 1727, Barclays in 1690 and Lloyds Banking Group founded in 1765. This impacts the competitive behaviours of other banks that were only recently founded at the end of the 20th Century and dictates the brand-building focus with these banks. In 2011, Lloyds Banking Group sustained total revenues of £23.5 billion (Lloyds 2012), which is created through a business model that supports commercial banking, investment banking, and investment management services. Barclays boasted £26.9 billion in revenues in 2012 (Barclays 2012), another banking institution involved in investment, commercial, and retail banking with a diversified strategic model. The Royal Bank of Scotland maintained revenues of £25.78 billion in 2012 (RBS 2013) with an even more diversified business model involved with mortgages, insurance and corporate banking. These banks sustain very high profit capabilities which provide the banks with necessary financial capital for expansion, to place high expenditures on marketing, and to acquire new assets both domestically and internationally. All of the major banking institutions in the UK operate in an oligopolistic market structure, whereby there are few companies available to service a broad market (Hirschey 2009). In the oligopoly, the companies that dominate the market are usually very large organisations, therefore their strategic actions and developments make a significant impact on the market. It is commonplace for decision-making within the organisation to be based on knowledge of competitive actions and competitors quickly respond in an effort to outperform other businesses in the oligopoly. Businesses in this market type compete intensely against other players and often attempt to create entry barriers that include differentiation, pricing competition, and even the utilisation of various intellectual property laws to distinguish the business from other competitors and protect their market position. Companies that operate in the oligopolistic market typically have achieved economies of scale. This is defined as being able to achieve substantial cost advantages that are possible through the scope and size of business operations where output costs decrease whilst the business is able to spread fixed costs over a larger volume of unit outputs (Gelles and Mitchell 1996). It is better operational efficiency that allows the firm to achieve economies of scale and better operational efficiency continues to lower the total costs of capital. Hence, the banking sector is a very dynamic and influential sector which is characterised by several large, multi-national financial organisations that have adequate cash flow and annual revenues that come from being involved in multiple business services. Opportunities and threats of the sector The PEST framework of analysis was utilised in order to understand what threats and potential opportunities are available in this highly competitive sector. Political - As a result of the 2008 recession, the government took a much more active investment role and regulatory position over the financial services industry. In order to prevent a complete collapse of the United Kingdom’s economy, government invested significant financial capital into the banking system, injecting new operating capital for major banking institutions. The UK government now owns a 43.4 percent stake in Lloyds Banking Group and a whopping 82 percent of shares for The Royal Bank of Scotland (Kennedy 2009). The government provided major banks with £250 billion in loan guarantees and an additional £50 billion that could be borrowed by banks directly from the government (BBC News 2008). This represents a substantial threat to bank autonomy as under UK securities laws, having majority ownership of a firm’s common stock provides the ownership with considerable decision-making authority. Those individuals holding controlling interest is able to veto decisions made by a company’s Board of Directors or executive management. Controlling interest also has the right to become the Chairman of the Board and influences election or termination of the Chief Executive Officer (Michie 1999). Banks are constantly under the threat of having their internal organisational structures distressed by the UK government, which is a fundamental conflict of interest in a free market economy. In the free market system, which is that of the UK, government is to have their control over internal and operational practices of businesses minimised (Bockman 2011). With controlling interest, the government could radically force restructure leadership and the general business model. The government also developed a new monetary policy which was designed to stimulate the economy, but had detrimental impact on the banks in the sector. The government implemented quantitative easing, which is a non-conventional monetary policy where government buys significant volumes of assets from major banks in order to stabilise a crumbling economy. The purchase of the assets drives down the yield on bank assets and increases the monetary base, which is the volume of commercial bank reserves maintained within the country’s central bank alongside the total amount of currency that is currently in circulation (Brunner 1987). Quantitative easing, though beneficial for government and society, created many negative economic consequences for the country’s banks. The increase in the money supply depreciates a country’s currency against other basket of international currencies (Inman 2011). This makes the cost of borrowing and lending between large banks much more expensive, thereby reducing financial capital in the bank. It is common practice for banks to lend one another money in an effort to improve national economic health and ensure higher revenue production. The government, also as a response to the 2008 recession crisis, ordered the construction of two powerful regulatory agencies to ensure stability in the financial services sector. The Financial Conduct Authority is funded by charging fees to members of the financial services sector and has been instrumental in creating new legislative and regulatory frameworks that now supervise financial services firms at the individual level. This particular regulatory group is able to conduct investigations of suspect firms, place different requirements associated with company generated products, and regulate the conduct of marketing of financial services and products (FCA 2013; The Telegraph 2011). Banking institutions operating in this sector are now under more scrutiny by government and non-government regulatory bodies that require more investment and labour into conducting internal auditing and ensuring compliance to new regulatory frameworks. This was not a problem in the industry until the recession when government became instrumental in intervening and attempting to control business practices. Economic – Intervention by the government for injecting capital into banks and new quantitative easing as a monetary policy drove down inflation rates in the country. Whilst this might appear to have economic advantages, it reduces the export competitiveness in the UK by weakening the Pound Sterling (Capital Business Media 2014). Businesses that cannot improve their financial position in the export market are unable to expand, thereby limiting deposit volumes at major banks and the ability to generate profitable loans to struggling companies. Lowered inflation could have serious consequences for revenue growth at banking institutions as well as from supplementary financial services for businesses. In business, when the costs of capital are reduced within the business, the organisation increases the utilisation of fixed assets, leading to job losses through efficiency (Griffin 2013). Large organisations, due to an extraordinarily low national interest rate, are now able to borrow large volumes of money through loans with very low rates. This is attractive to banks as small businesses are having problems recovering from the lingering effects of the recession. Therefore, banks are providing these loans to large corporations who are, in turn, utilising these loans to improve utilisation of fixed assets. However, this ideology is a short-term type of thinking without considering the viability to offer riskier loans to struggling small business owners and entrepreneurs. This would have greater economic benefits for the banks if more loans were refused to large corporations in favour of small businesses who would provide payments on the loan at much higher interest rates than the credit-rich corporation. Social – In the UK, two-thirds of the entire population has a Facebook account and nearly one-third of the population uses Twitter (CSN 2013). All of the major banks in the UK, except for HSBC, are not adept in utilising these social media networks to improve customer service and brand exposure. HSBC sends an average of 68 Tweets per day responding to customer inquiries and engaging consumers with a 30 minute lead time for responses (CSN 2013). It takes Barclays an average of 11 hours to respond to customers via social media. The major banks should be considering social media as a viable and brand-enhancing method of engaging with existing customers or potential new market segments to gain more interest in the bank and seek services and deposits for having a first class service model. Technological – The technological environment is supportive of modern banking activities, ranging from mobile banking utilising a smartphone to tangible enhancements of ATM machinery and a variety of other contemporary technologies. However, it is slow to evolve as, in the oligopolistic market structure, competitors are quick to replicate existing technologies of competition. There are no substantial concerns or implications of the technological environment other than its positive availability to major banks and the ongoing threat of competitive imitation through technology procurement and development. Comparing competitive service marketing strategies Banks in this sector often consider how best to transform existing, tangible resources to achieve higher profitability and performance gains, but ignore the intangibles of service that are critical for customer retention (Raffey and Anwar 2012). People and physical evidence are two under-looked service marketing elements in the 7 Ps of marketing. Banks have generally been rather sterile and homogenous in terms of the internal servicescape, which is causing banks to attempt new marketing strategies to achieve total customer satisfaction. Banks in the UK have turned toward scent marketing, a contemporary servicescape dimension that stimulates olfactory nerves (leading to a mental response) and to prevent customers from feeling frustrated in long queues that are common in large metropolitan region banking facilities (Winter 2014; Air Aroma 2013). The servicescape is a critical dimension to what drives consumer behaviour and banks are recognising new methods to give customers a more positive banking experience. Because scents create an immediate emotional response, it is becoming an effective method for successfully communicating with customers during their short experience in the bank environment. Banks are also providing more training to employees related to the people dimension of the 7 Ps in relation to proper service recovery tactics and strategies. Service recovery has a direct relationship with building consumer trust in the company, loyalty and word of mouth (Blodgett, Hill and Tax 1997). A study was conducted using a sample group of 2,000 respondents which revealed that even minor mistakes associated with account management practices of the bank led to a decrease in loyalty behaviours (Jones and Farquhar 2007). Emphasising new strategies for service recovery and providing employee with more advanced training in this area are changing the dynamics of customer relationships and their banks in the UK. Because the banking sector in the UK is an oligopoly, it does not have benefit to heavily publicise service marketing strategies due to the fact that major players will immediately respond and duplicate these marketing models if they are known to bring competitive successes. Hence, there is not a great deal of literature available on the competitive service marketing strategies with the four main competitors; a gap in the research. However, it is clear that the banks are becoming more aware of the intangibles of service including people and physical evidence that shape the customers’ short- and long-term impressions of the banking facilities. Therefore, a brief interview was conducted with a bank manager at a division of The Royal Bank of Scotland to determine service marketing philosophy. The brief qualitative study indicated that this bank focused on using digital marketing in the form of email reminders and special promotions along with text messages on mobile devices to satisfy and prompt consumers. The participant, however, was unable to supply statistics or metrics about the potential return on investment of the effort since it was a very new service marketing activity at the bank. Key service marketing issue At the Royal Bank of Scotland, coming up with a control measurement process seemed to be the fundamental problem with their service marketing ideology. Clearly, this bank was aware of the growing trend for consumers to prefer mobile banking and digital relationship development with banks which is what drove the decision to undertake digital marketing as a new service dimension. The bank manager did not seem to understand that it is crucial to have some form of evaluation instrument to determine whether the service marketing strategy was meeting with appropriate customer response and satisfaction levels. Therefore, over the next five years, The Royal Bank of Scotland should be developing a variety of online surveys dealing with such concepts as customer satisfaction and loyalty to the bank for its digital marketing services. With growing international consumer usage of the Internet and smartphone technologies, it is not going to be a short-lived trend that customers will be responsive to and appreciate digital relationships with their important banking facilities. This will assist the company in justifying their marketing budgets and creating new service marketing innovations based on consumer demands. The company can become more well-versed and provide training to the marketing department to identify numerical counting methods to determine the frequency by which customers respond to email advertisements and mobile device reminders. Marketing performance and measurement (MPM) helps the business to focus on operating activities associated with service delivery and gives a recurring snapshot of whether the company is utilising its resources (people, facility and financial capital) effectively (Powell 2008; Aberdeen Group 2007). The interview conducted with the manager of RBS provided evidence that the company was unsure of the importance of utilising people properly and ensuring that digital service marketing was aligned with best practice (or innovative practice) in this sector. The bank should be learning whether customers find this digital and mobile practice to be invasive or beneficial as the bank could be creating dissatisfaction in customer segments without really understanding this. Customers gauge whether or not to re-patronise an organisation or maintain willingness to recommend through word-of-mouth through evaluation of service quality (Boulding, et al. 1993). The Royal Bank of Scotland seems to be essentially launching a new service marketing concept and allowing the company to proverbially fly blind without having any established control systems. Though the company has taken steps to improve and enhance the internal servicescape of the organisation, it is not fully investigating whether the digital and mobile service dimensions are meeting with customers’ expectations for service quality. This creates a situation where RBS needs to evaluate real-time customer responses and then critically analyse or adjust service marketing strategies to align them with customer needs and values. Simply because customers utilise the Internet and mobile devices to conduct banking activities does not justify that they would be content with email reminders, scent marketing, or digital promotion. A recent study indicated that the largest reason why customers switch banks are service quality issues (The Financial Brand 2011). Conclusion In general, based on research findings, the banking sector in the UK has many positive aspects that drive business practice and marketing strategies. Political factors clearly were the most detrimental and risky for the banking sector ranging from too high of influence and control over future business practices and the negative economic consequences of new and radical monetary policy. However, social trends are supportive of the use of digital marketing for relationship development along the service model, something that RBS attempted to capitalise upon to gain more consumer loyalty and provide satisfaction. RBS was not apparently concerned with achieving service marketing goals in a cost-efficient method. It is impossible to know whether the new service marketing activities achieve objectives effectively without some form of metric, something that could seriously limit the competitiveness of RBS when other competitors in the oligopoly make immediate and duplicate responses in an effort to seize a potential competitor advantage. It is clear that over the next five years, training, developing a control system, and engaging real-time consumer sentiment would provide the bank with a more stable method of addressing costs, the proper allocation of resources, and whether or not the bank is sending appropriate and engaging messages to consumer segments through digital service marketing efforts. References Aberdeen Group. (2007). Customer intelligence / marketing automation research, Aberdeen Group Educational Series. [online] Available at: http://www.aberdeen.com/research/agenda/2007_MktAut_CI_Research_Snapshot.pdf (accessed 6 January 2014). Air Aroma. (2013). Banks: improve customer experience and satisfaction through scent. [online] Available at: http://www.air-aroma.com/who-scenting/banks (accessed 6 January 2014). Barclays. (2012). Building the Go-To Bank – Annual Report 2012. [online] Available at: http://reports.barclays.com/ar12/servicepages/downloads/files/entire_barclays_ar12.pdf (accessed 5 January 2014). BBC News. (2008). Rescue plan for UK banks unveiled. [online] Available at: http://news.bbc.co.uk/2/hi/business/7658277.stm (accessed 5 January 2014). Blodgett, J.G., Hill, D.J. and Tax, S.S. (1997). The effects of distributive, procedural and interactional justice on post-complaint behaviour, Journal of Retailing, 73(2), pp.185-210. Bockman, J. (2011). Markets in the name of Socialism: the left-wing origins of neoliberalism. Stanford University Press. Boulding, W., Kalara, A., Staelin, R. and Zeithaml, V. (1993). A dynamic process model of service quality: from expectations to behavioural intentions, Journal of Marketing Research, 30(1), pp.7-27. Brunner, K. (1987). High-powered money and the monetary base, in P.K. Newman, J. Eatwell, R.H. Inglis and M. Milgate (eds.) The New Palgrave Dictionary of Economics. Macmillan. Capital Business Media. (2014). Target-hitting inflation rate could affect UK exports, Business Matters. [online] Available at: http://www.bmmagazine.co.uk/news/23055/target-hitting-inflation-rate-affect-uk-exports/ (accessed 15 January 2014). CSN. (2013). HSBC tops UK bank social media customer service table, Customer Service Network Ltd. [online] Available at: http://www.customernet.com/customer-service-news/hsbc-tops-uk-bank-social-media-customer-service-table/ (accessed 3 January 2014). FCA. (2013). News and investigations, The Financial Conduct Authority. [online] Available at: http://www.fca.org.uk/consumers/financial-services-products/investments/news-and-investigations (accessed 6 January 2014). Gelles, G.M. and Mitchell, D.W. (1996). Returns to scale and economies of scale: further observations, Journal of Economic Education, 27, pp.259-261. Griffin, K. (2013). The Fed engaging in quantitative easing until unemployment falls is like a medieval doctor bleeding a patient with leeches until his iron deficiency goes away. [online] Available at: http://www.washingtonsblog.com/2013/05/the-fed-buying-more-assets-until-unemployment-falls-is-like-a-medieval-doctor-bleeding-a-patient-with-leeches-until-his-iron-deficiency-goes-away.html (accessed 5 January 2014). Hirschey, M. (2009). Fundamentals of managerial economics, 9th edn. Mason: Southwest Cengage Learning. Inman, P. (2011). How the world paid the hidden cost of America’s quantitative easing, The Guardian. [online] Available at: http://www.theguardian.com/business/2011/jun/29/how-world-paid-hidden-cost-america-quantitative-easing (accessed 4 January 2014). Jones, H. and Farquhar, J. (2007). Putting it right: service failure and customer loyalty in UK banks, International Journal of Bank Marketing, 25(3), pp.161-172. Kennedy, S. (2009). UK government to take 43.4% in combined Lloyds, HBOS Group, Market Watch. [online] Available at: http://www.marketwatch.com/story/uk-government-to-take-434-in-combined-lloyds-hbos-group (accessed 4 January 2014). Lloyds. (2012). 2012 Results – News Release. [online] Available at: http://www.lloydsbankinggroup.com/media/pdfs/investors/2012/2012_LBG_FY_Results.pdf (accessed 4 January 2014). Marks, C. (2013). United Kingdom national accounts, The Blue Book – 2013 Edition, Office for National Statistics. [online] Available at: http://www.ons.gov.uk/ons/rel/naa1-rd/united-kingdom-national-accounts/the-blue-book--2013-edition/index.html (accessed 5 January 2014). Michie, R.C. (1999). The London Stock Exchange: a history. Oxford: Oxford University Press. Powell, G.R. (2008). Marketing calculator: measuring and managing return on marketing investment. John Wiley & Sons. PWC. (2012). The total tax contribution of UK financial services, City of London Economic Development. [online] Available at: http://www.cityoflondon.gov.uk/business/economic-research-and-information/research-publications/Documents/research-2012/Total_tax_Contribution_OnlineVersion_PDF.pdf (accessed 6 January 2014). Raffey, M.A. and Anwar, A. (2012). A study of role of service marketing in banking sector with special reference to Aurangabad district, Excel Journal of Engineering Technology and Management Science, 1(2), pp.1-7. RBS. (2013). Annual results for the year ended 31 December 2012. [online] Available at: http://www.investors.rbs.com/download/announcements/full_announcement_28feb2013_link.pdf (accessed 4 January 2014). The Financial Brand. (2011). Why do people switch banks? What are branches good for?. [online] Available at: http://thefinancialbrand.com/18486/capgemini-retail-banking-customer-experience-report/ (accessed 5 January 2014). The Telegraph. (2011). The Financial Conduct Authority: what it does and who is in charge. [online] Available at: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8874588/The-Financial-Conduct-Authority-what-it-does-and-who-is-charge.html (accessed 3 January 2014). Winter, C. (2014). What should a bank smell like?, Bloomberg Businessweek. [online] Available at: http://www.businessweek.com/articles/2014-01-09/what-should-a-bank-smell-like (accessed 9 January 2014). Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(The Financial Services Sector in the United Kingdom Assignment, n.d.)
The Financial Services Sector in the United Kingdom Assignment. Retrieved from https://studentshare.org/business/1805772-examine-a-sector-in-the-service-industry-and-analyse-the-service-marketing-issues-affecting-one-of-the-organisations-in-that-sector
(The Financial Services Sector in the United Kingdom Assignment)
The Financial Services Sector in the United Kingdom Assignment. https://studentshare.org/business/1805772-examine-a-sector-in-the-service-industry-and-analyse-the-service-marketing-issues-affecting-one-of-the-organisations-in-that-sector.
“The Financial Services Sector in the United Kingdom Assignment”, n.d. https://studentshare.org/business/1805772-examine-a-sector-in-the-service-industry-and-analyse-the-service-marketing-issues-affecting-one-of-the-organisations-in-that-sector.
  • Cited: 0 times

CHECK THESE SAMPLES OF The Financial Services Sector in the United Kingdom

What Happens During the Banking Crisis

However, when banks make losses most of the citizens lose faith in the banking sector, which results in the closure of bank accounts as, was experienced in the united kingdom.... The occurrence of the financial crisis especially in the united kingdom was purely a managerial issue.... As more citizens and clients thronged the banks for loans among other financial services, it was eminent that very soon the country would hit a financial snag.... These three constitute the greatest stakeholders affected by the financial crisis....
8 Pages (2000 words) Assignment

PESTEL and Porter Five Forces Analysis for the Metro Bank

Political forces in the united kingdom tend to favor the banking industry in the country because of the positive economic impact it has on the country's economy, but at the same time, this force impose strict regulations on banks (Chrystal and Mizen, 2006).... … The relationship between the political forces in the united kingdom and the banking industry is subject to change.... PESTEL and Porter Five Forces Analysis for the Metro Bank The topic of the present essay is Metro Bank PLC - a retail bank operating in the united kingdom....
4 Pages (1000 words) Essay

The Importance of the Complaint Handling within the Financial Services of the United Kingdom

This paper deals with the importance of complaint handling within the financial services of the united kingdom.... hellip; The paper in its first paragraph states the general importance of handling the complaint which is important in all types of market, and then few problems within the financial services of United Kingdom market are shown with a different solution.... In 2003 the life insurance company which was based in the financial market of the UK paid a fine of 675,000 pounds due to their mortgage endowment complaints which were not handled properly by their service department....
10 Pages (2500 words) Coursework

The International Grocery Industry

hellip; TESCO is an international grocery based industry that is based in the united kingdom.... The legal sector can either reduce or increase the competitive nature of a company.... Moreover, the banking sector of Tesco has been able to deal with the strict government laws made to protect the general public from being exploited by the banks....
7 Pages (1750 words) Term Paper

Impact of IT Outsourcing in the Tertiary Sector

In this regard, IT outsourcing plays a vital and imperative role in the development and advancement of tertiary sector in the united kingdom, as well as, in other parts of the globe.... This essay has chosen McDonald's in the united kingdom as the case study, in order to understand the consequences, and impact of IT outsourcing in the tertiary sector, and particularly, McDonald's.... ase Study: McDonaldsThis paper has chosen McDonalds in the united kingdom as the case study, in order to understand the consequences and impact of IT outsourcing in tertiary sector, and particularly, McDonalds....
2 Pages (500 words) Essay

Personal Investment in the UK Is It Science or Matter of Good Fortune

hellip; The practice and understanding of personal investment in the context of united kingdom is found to be largely interrelated to the demographic patterns of the society and also to the consumption patterns of the people.... In united kingdom people tend to invest or conduct their personal savings through the use of different tools like investing in mortgage funds, investing on pension or other insurance related funds, depositing money in banks or in securities issued by different financial institutions....
8 Pages (2000 words) Essay

Discuss and evaluate the current and future provision of NHS services

The political This government plays a significant role in the running and administration of the health sector in Britain as a whole.... The health care sector has recorded a significant improvement in the passing years (Moore, 12).... The second participant is the public sector that is public; it gets funds from the government expenditure that obtains funds from tax payer's money (Giaimo, 87).... The other part gets funds from the private sector, and the payments made direct to the hospitals by patients....
4 Pages (1000 words) Essay

Types of Organizations

This essay "Types of Organizations" is an attempt to shed some light on the different types of organizations in the united kingdom's construction sector.... It would start talking briefly about the construction sector and its importance in the united kingdom's economy.... The approach would be to discuss each type of organization in detail followed by its relevant match and relation in the construction industry of the united kingdom....
6 Pages (1500 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us