Internal and External Sources of Information

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Internal Sources * Finance- Barclays checks their financial records in order to find out how much profit and loss they made, to make a cash flow, to figure out the cost of running their business and so on. It is important so then they could discuss it and make improvements in order to run their company in a more successful way. * Customer services- Barclays uses this info to find out what their customers think about the services they provide, what products they could introduce to make their customers happier and what the customers think of existing products. * Marketing- Marketing provides a valuable service to the whole business. Marketing in Barclays has to key roles- to publicise and popularise products and services that they offer by creating advertisements and carrying different public events and to collect two main types of data- on Barclay’s competitors and on the customers. * Sales- Sales are always helpful for the business because it can predict the trends and possible sales levels in the future. Barclays views their sales in the context of a larger market, the activities of their competitors and the buying patterns of their customers. Sales data can possibly provide the most accurate prediction available to a business. * Manufacturing- Manufacturing must work closely with sales and marketing. It plays an important role because it can predict for example how long it would take to produce a particular order for a customer. Manufactures also work closely with purchasing. Manufacturing helps Barclays to decide on the final price of their products because the price should be made out of all the components used to produce the products and also of the cost to the business of processing them. External sources * Commercially provided databases- Barclays can use private research organisations to make a list of customers they wish to

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