Text 1 Barclays plc Increased globalisation has led to more firms becoming multinational companies - OCR - GCSE Business - Question 16 - 2021 - Paper 1

One advantage is the ability to access larger markets. By operating in multiple countries, a multinational can reach more customers and increase its sales revenue. This can also lead to economies of scale, allowing the business to reduce costs and improve profitability.

Impact 1: Increased customer base as businesses can reach consumers worldwide through online platforms. Impact 2: Enhanced operational efficiency as processes like sales and customer service can be automated.

In 2020, 75% of UK banking customers used online banking. Therefore, if Barclays has 26 million UK personal banking customers:

Number using online banking = 26,000,000 * 0.75 = 19,500,000 customers.

Barclays plc could ensure transparency by providing clear and accessible information about its products and services. This includes being honest about fees, risks, and potential conflicts of interest, which would help build trust and maintain customer loyalty.

Factor 1: Cost of the technology, including initial investment and ongoing maintenance costs. Factor 2: The potential return on investment (ROI), including increased efficiency and customer satisfaction.

Investing in computer technology can lead to several beneficial impacts for Barclays plc. Firstly, it can improve customer service by providing faster and more efficient online banking experiences. Customers may enjoy enhanced security features, which can reduce fraud and build trust. However, there are potential risks such as high initial costs and the necessity for ongoing updates and maintenance. Additionally, there may be a learning curve for customers who are not familiar with new technologies, potentially leading to temporary dissatisfaction.