Barclays Bank: How (Not) to Communicate with Stakeholders Essay
Corporate Communication Case study 1.1 09-17-2013 Josine Kremer - 414794
CASE STUDY 1.1
BARCLAYS BANK: HOW (NOT) TO COMMUNICATE WITH STAKEHOLDERS
QUESTIONS FOR REFLECTION 1. Discuss each image crisis for Barclays.
- Image crisis no. 1: ‘A world needs a big bank’ campaign vs. closing 170 branches in the UK. In 2000 Barclays launched a ‘Big’ campaign with the slogan: ‘a big world needs a big bank’. Barclays wanted to be seen as an ‘big’ bank by its important stakeholder groups. The adverts were slick and had received good pre-publicity, but it turned into a communication disaster. Because Barclays was spreading the word that is was a big bank, while closing 170 branches in …show more content…
Barclays did not succeed in integrated communication. The bank did not coordinate and align all communications so that the organisation speaks consistently across different audiences and media. For example: the corporate identity did not match with the things Matthew Barret told the public. Besides that, Barclays has the following value stated on their website: ‘‘Build trust with the colleagues and partners we work with’’, this value is in contrast with closing 170 branches without any dialogue with their stakeholder. Besides that the company did not show regret for closing all those branches, instead they played a very defensive role. By showing such an arrogant attitude and lack of remorse Barclays created anger within the public. The timing of the campaign was very unfortunate. If the campaign and the announcement of the closing of the branches did not happen at or around the same time, the campaign could have been very successful. Since it received very good pre-publicity. Matthew Barret did not realise that the media is a big stakeholder of the organisation. Anything that a corporate executive says in public can be held against him and can have a huge impact on the reputation of the company. The decision not to ask the government for cash injections became an image crisis because not only