... | |Bank of America | | | | | |Name | |University | | | | | Bank of America Identification of Strategic Issues and Problems The Bank of America operates in an industry marked with rapid changes, the financial crisis and evolving technology. There are two challenges faced by Bank of America at this point. For the long term, the Bank faces a challenge in positioning itself. This is because mobile banking is evolving rapidly and could have a significant influence not only on Bank of America but also the whole financial...
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...Case Analysis of Bank of America: Mobile Banking Marcus J. Durr Professor Trittipo AMBA 650 Section 9047 January 31, 2012 Abstract During the tough time for the banking industry when many banks have gone into bankruptcy or have began add numerous fees to their service in order to stay afloat; Bank of American (BoA) has also experienced some of the effects of the financial crisis. In an effort to weather the storm BoA began to incorporate mobile banking. While its competitors were implementing their own mobile banking through mobile apps, mobile web, and short message system (SMS), BoA focused on the mobile app and mobile web only. This case analysis takes a look at some of the major strategic issues and problems, such as BoA leaving out a portion of their target market by opting out of using SMS, which left a portion of their market base outside in the cold. However there are some positives, that BoA realized and took swift action to capitalize on the fast emerging market of mobile banking. In the conclusion, recommendations are given on what BoA can do to keep a stable position in the future, as mobile banking will have a huge impact on the banking industry. Case Analysis of Bank of America: Mobile Banking In the banking industry Bank of America has grown to become a household name and evidence of their marketing efforts through all channels can be seen just about everywhere you go. Over the past few years the banking industry has surly gone through some turbulent...
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...Case Analysis of Bank of America: Mobile Banking Marcus J. Durr Professor Trittipo AMBA 650 Section 9047 January 31, 2012 Abstract During the tough time for the banking industry when many banks have gone into bankruptcy or have began add numerous fees to their service in order to stay afloat; Bank of American (BoA) has also experienced some of the effects of the financial crisis. In an effort to weather the storm BoA began to incorporate mobile banking. While its competitors were implementing their own mobile banking through mobile apps, mobile web, and short message system (SMS), BoA focused on the mobile app and mobile web only. This case analysis takes a look at some of the major strategic issues and problems, such as BoA leaving out a portion of their target market by opting out of using SMS, which left a portion of their market base outside in the cold. However there are some positives, that BoA realized and took swift action to capitalize on the fast emerging market of mobile banking. In the conclusion, recommendations are given on what BoA can do to keep a stable position in the future, as mobile banking will have a huge impact on the banking industry. Case Analysis of Bank of America: Mobile Banking In the banking industry Bank of America has grown to become a household name and evidence of their marketing efforts through all channels can be seen just about everywhere you go. Over the past few years the banking industry has surly gone through...
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...n: Business and Management Case Analysis: Bank of America: Mobile Banking Introduction Bank of America is one of the largest U.S. bank holding companies; it was founded in 1904 and expanded with several acquisitions. Mobile banking was launched in 2007 and within three years Bank of America had 4 million active customers using this service. Mobile banking may be the single biggest innovation the global banking industry has seen. From smart phones to tablets and laptops, banking customers are pushing their institutions to develop more mobile services. This success prompted line-of-business managers to request more functionality in the bank's mobile application that was specific to their businesses such as credit cards and mortgages and to determine how this change would affect their clients. Bank of America offers applications for over 800 devices, which include smart phones and BlackBerry devices. Bank of America was struggling to position their mobile banking service in the continuously changing industry. “The banking industry was fragmented, with thousands of banks offering retail and wholesale banking services.” (Gupta & Herman, 2010, p.2) Recognizing the potential impact mobile technology could have on the entire banking industry, Bank of America must decide on how to position itself within the mobile banking industry. This paper will identify the strategic issues, the benefits of mobile banking to customers and attempt to explain why some consumers...
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...Introduction Bank of America is one of the largest U.S. bank holding companies; it was founded in 1904 and expanded with several acquisitions. Mobile banking was launched in 2007 and within three years Bank of America had 4 million active customers using this service. Mobile banking may be the single biggest innovation the global banking industry has seen. From smart phones to tablets and laptops, banking customers are pushing their institutions to develop more mobile services. This success prompted line-of-business managers to request more functionality in the bank's mobile application that was specific to their businesses such as credit cards and mortgages and to determine how this change would affect their clients. Bank of America offers applications for over 800 devices, which include smart phones and BlackBerry devices. Bank of America was struggling to position their mobile banking service in the continuously changing industry. “The banking industry was fragmented, with thousands of banks offering retail and wholesale banking services.” (Gupta & Herman, 2010, p.2) Recognizing the potential impact mobile technology could have on the entire banking industry, Bank of America must decide on how to position itself within the mobile banking industry. This paper will identify the strategic issues, the benefits of mobile banking to customers and attempt to explain why some consumers have not adopted mobile banking. I will then analyze and evaluate Bank of America’s...
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...International Management II (Core Competencies) Case Study Bank of America (A) by Alexander Beil Christoph Hillgärtner Florian Schlegelmilch Harvard Case Study: Bank of America List of Contents 1. Introduction / Definitions 2. Overview “Bank of America” 3. Product development processes 4. Strength and weaknesses of the systems 5. Learning through experimentation 6. Conclusion / Learnings 7. Summary 8. Questions for group discussion 9. References 1 Harvard Case Study: Bank of America 1. Introduction / Definitions Description of the case study “Bank of America (A)” * The case study describes how Bank of America is creating a system for product and service innovation in its retail banking business. Emphasis is placed on the role of experimentation in some two-dozen real-life "laboratories" that serve as fully operating banking branches and as sites for testing new ideas and concepts. Focuses on: 1) how learning from experimentation can be maximized; 2) incentive and reward systems that motivate employees to experiment in "life" environments; 3) the challenges of managing innovation in an industry that eschews risks, failure, and change. *Reference: http://harvardbusinessonline.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=603022 Harvard Case Study: Bank of America 1. Introduction / Definitions Process: which activities are to be taken, in which order* Organization:...
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...Business Analysis - Part 1 In this paper I am taking on the role as a mutual fund manager making a decision on if to invest funds into Bank of America (BoA). Over the next three weeks I will conduct an extensive business analysis on BoA and this paper is part one of three of the complete analysis. Part one of the business analysis of BoA consists of a SWOT analysis and my point of view in regard to which part of this analysis is the deciding factor for me to invest in this company or not. In addition all internal and external stakeholders will be identified and their want and needs described. An explanation of how BoA is fulfilling the different needs of the different stakeholders will be the last section of part one in this business analysis. SWOT analysis of Bank of America “Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations. It is the largest bank holding company in the United States, by assets, and the second largest bank by market capitalization. The company serves clients in more than 150 countries and has a relationship with 99% of the U.S. Fortune 500 companies and 83% of the Fortune Global 500.” (MBA lectures, 2010) A SWOT analysis is defined as: “SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. By definition, Strengths (S) and Weaknesses (W) are considered to be internal factors over which you have some measure of control. Also...
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...Running head: BANK OF AMERICA EXTERNAL ENVIRONMENTS Bank of America – External Environments Alan Bahadori Professor Turner Strayer University April 29th 2016 Bank of America – External Environments Bank of America is an industry leader in the financial and banking marketplace. They are a multinational corporation that is the second largest bank holding company in the United States by assets. The extent of Bank of Americas reach is that of a global scale. Bank of America have many branches of business from banking, mortgages, loans, retail sales, wealth management, commercial business services and even global sports sponsorship. The ability for Bank of America to continue to grow in terms of global brand, market share and financial banking both business and personal is by continued evaluation of the company’s strategy regarding competition, as well as their internal and external environment. Evaluation of a company’s external environment is paramount to the future success of the business. A company must always be sure that it is understood on what factors they face within their course of business. To successfully deal with uncertainty and achieve strategic competitiveness firms must be aware and understand these segments and how they impact the corporation either positive or negative. The general environment as stated within the course lecture states that it is grouped into seven segments of Demographic, Economic, Political, Sociocultural, Technological, Global...
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...strategy assessment; and recommendations to the Bank of America on how to maintain and strenghen its competitive position. Paper Introduction: strategic Management analysis bank of america Introduction The report presents the findings of a strategic management analysis ofBank of America Corporation a financial services company that participatesin most facets of the financial services sector Bank of America is anationwide financial services company in the United States and the companyis the country's third largest banking company when measure by totalassets behind CitiGroup in first place and J P Morgan Chase in secondplace Hoover's Inc This report begins with an assessment of the external Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. Reliability in Service|.2 |3 |.6 |4 |.8 |3 |.6 ||Delivery | | | | | | | ||2. 8 |4 |.32 ||customer acquisition system | | | ||6. High-level of consumer awareness|.1 |4 |.4 ||3. Strong and effective online |human resources management ||customer acquisition system | ||6. Bank of Americaranks somewhat ahead of J.P. High-level...
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... D’Ainsley Smith FIN/711 January 11, 2014 Professor Allen Research Proposal Financial analysis is important for every organization. In the course of financial analysis, it is determines the areas which are to improved by it. Two organizations selected here are Bank of America and HSBC. Both organizations are in the banking sector and have operations in various parts of the world. The organizations work for the purpose of making sure they achieve their targets. The study is conducted for finding out whether these organizations are working appropriately. Background The organization considered presently is Bank of America. This organization is a banking company and engaged in carrying out various kinds of banking operations for customers. “The organization has a total of 57 million clients at the present time” (Carroll, 2007). There are various banking operations carried out by Bank of America. Operations carried out by Bank of America include acceptance of deposits, lending to individuals and businesses, and various financial operations. This organization has been working towards achievement of target goals. For this organization, it is also important to ensure they provide a detailed financial analysis of the company’s operations. The assistance of the financial analysis ensures the company understands and knows their financial position is in order. The organization determines if they are able to meet financial obligations...
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...Stock Analysis: Bank of America Corporation (NYSE: BAC) Stock Analysis: Bank of America Corporation (NYSE: BAC) Corporate Background and Lifecycle Analysis The current Bank of America Corporation (NYSE: BAC) was formed from the merger of NationsBank Corporation and BankAmerica Corporation in 1998; however, the bank’s history traces its roots back to the late 19th century. (“Bank of America Corporation,” n.d.). From humble beginnings, Bank of America’s founder, Amadeo Peter Giannini expanded his community reach by purchasing numerous well-placed banks heralding the first attempt at branch banking. (“Bank of America Corporation,” n.d.) BAC’s near downfall was the acquisition of Countrywide Financial Corp in July 2008 just before the mortgage collapse triggered the financial crisis. BAC was one of several banking companies that received significant aid from the U.S. Federal Reserve in the form of large capital investments totaling $45 billion dollars. Today, BAC is a global leader in banking and investing serving 33 million plus U.S. households and over 35 additional countries. Operations include more than 15,800 automated teller machines, 4,800 branches, and a robust online banking platform with over 31 million active users and 16.5 million mobile users (“2014 Bank of America,” 2015); however, the stock has yet to recover to its former performance. The banking industry is highly competitive and mergers and acquisitions are prevalent as industry leaders struggle for...
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...Charlotte, North Carolina. The company has huge presence in America spanning across 40 states. It serves approximately 54 million consumers in US and its foot print covers 80 % of the population. The bank is being led by Brian Moynihan who succeeded Ken Lewis as the President and CEO effective January 1, 2010. Some of the key highlights of Bank of America are: As of 2010, it is the second largest bank holding company behind JP Morgan Chase in United States by assets which stood over US$ 2 trillion As of 2010, the company is the fifth largest company in United States by revenue which is over 111.4 billion2 The company was also the 3rd largest non-oil company in the US after Wal-Mart and General Electric In 2010, Forbes listed Bank of America as the third largest company in the world 3 The bank has over 5500 branches along with approximately 16300 ATMs and an online banking with 30 million active users 4 The major competitors of Bank of America are JP Morgan Chase, Citi Group and Wells Fargo Bank. 1 http://www.forbes.com/companies/bank-of-america/ 2010 Bank of America Annual Report 3 http://www.forbes.com/companies/bank-of-america/ 4 http://investor.bankofamerica.com/phoenix.zhtml?c=71595&p=irol -homeprofile#fbid=W6HlSIbzfcd 2 4 Bank of America: Mobile Banking Case Report Financial Snapshot 5 Company History The company was founded originally as Bank of Italy in 1904 by Amadeo Giannini in San Francisco. Amadeo established the bank to serve the banking needs of many immigrants at that...
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...Business Analysis Part II Megan Exantus MGT/521 September 28, 2011 Laurie Ryan Business Analysis Financial statements are made to show a company’s financial position, performance, and changes that will be made throughout the company that may deter any economic decisions. Financial statements should be understandable, relevant, reliable and comparable. Reported assets, liabilities, equity, income and expenses are directly related to an organization's financial position (Baird, 2007). We will now evaluate the financial health of Bank of America and how it looks compared to previous years and make a prediction on coming years. This should demonstrate the financial strength and weakness of the company. We will also compare Bank of America’s financial statements to JPMorgan & Chase and Wells Fargo to see how each bank compares relatively to the other financially. After review of each of the financial statements, much of which will be gained by looking at the pros and cons of each statement, such as what strategies are used from these statements in moving forward. Not only will we establish a broader range on how these banks really look financially, we will investigate their approaches on a technological level and how they differentiate from another and how they relate. Globalization has taken over a wide range of businesses nationwide, we will take a step closer into seeing how it has affected Bank of...
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...Business Analysis III Pete A. Alvarado MGT 521 August 9, 2011 Dr. Arisa K. Ude Business Analysis III Current economic developments such as unemployment, the raising of the National Debt Ceiling, and seeking immunity from prosecutors in a Mortgage deal are economic trends that Bank of America is facing today. According to Rugaber (2011), the Labor Department reported that unemployment benefits adjusted to 400,000, decreasing 1,000 from the previous four months (para.3-4). While in Washington, D. C., Brown (2011), reported that “after months of partisan gridlock, both houses of the U.S. Congress have approved a bill to raise the federal borrower limit and cut government spending (para.1). On the other hand, Touryalai (2011) confirms that Bank of America is seeking immunity in a Mortgage deal with prosecutors that would make the bank pay a hefty fine which would be used toward writing down certain homeowner’s mortgages (para.2). The trends described above are issues that Bank of America and other financial institutions are currently tackling and adapting to as they develop. The following business analysis will outline on how each development is affecting the organizational and operational philosophy of the bank; possible strategies that the bank can use to adapt will also be described; implementation of tactics to address each trend will be elaborated on; how the human resource management plays in helping the company achieve its business goals, and last the analysis will...
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...Bank of America SWOT Analysis In 1906, known at that time as The Bank of Italy, a face and a name was the only requirement to get a loan with Bank of America. A few days after the 1906 earthquake hit San Francisco, its founder Amadeo Peter Giannini, “quickly set up shop on the docks near San Francisco's North Beach. With a wooden plank straddling two barrels for a desk, he began to extend credit "on a face and a signature" to small businesses and individuals in need of money to rebuild their lives. His actions spurred the city's redevelopment” (Kadlec 2008). He based his business on openness and trust, driven to help the immigrants that other banks would not serve. Fast forward to present day, Bank of America is the largest bank in the United States with over 2 trillion total assets (Grocer 2011) and is the 15th largest bank worldwide ("Top Banks of the World", 2011). These rankings are impressive and one may take for granted that investing in Bank of America’s mutual funds is a safe investment. However, Bank of America has also been plagued with bad publicity surrounding foreclosures during the financial crisis in 2008 and bailouts and employee layoffs extending into 2011. These performance issues, positive and negative, need to be considered when making the decision to invest in this corporation. Not only is past performance an important factor to consider but also future standing. To help guide this decision-making process a Strengths, Weakness, Opportunities and Threats...
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