Case Studies in Management: Bank of America Corporation - 2011 Briefly discuss t

Question

Case Studies in Management:

Bank of America Corporation - 2011

Briefly discuss the organization and its product and services. Discuss the strategic dilemma that your company is facing.

Show existing vision, mission, objectives and strategies.

Evaluate the mission statement. If the mission statement does not exist or needs to be revised, please craft one or revise the existing mission and tell why it needed to be improved.

Identify all of the organization's external opportunities and threats. Highlight and explain the three most significant opportunities and the three most significant threats.

Identify and discuss at least 3 major competitors. Compare your organizations performance with the performance of their competitors.

Identify all of the organization's internal strengths and weaknesses. Highlight and explain the three most significant strengths and the three most significant weaknesses.

Calculate and discuss key financial ratios. Please include at least one ratio from each of the five categories. What do the ratios tell about the organization?

Recommend specific strategies and long term objectives. Be specific. Divide your strategies into either (1) existing strategies to be continued or (2) New strategies to be started. Specify how your recommendations can be implemented. Explain your expected results.

Recommend specific annual objectives and policies. Summarize your findings.

Please take your time and respond on or before December 6, 2017

Explanation / Answer

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Greetings,

Introduction:

Bank of America Corporation(BOA) is a multinational banking and financial services corporation headquartered in Charlotte, North Carolina. It is ranked 2nd on the list of largest banks in the United States by assets. As of 2016, Bank of America was the 26th largest company in the United States by total revenue. In 2016, it was ranked #11 on the Forbes Magazine Global 2000 list of largest companies in the world.

Bank of Ameria roots, from 1784 to 1850, are set in stories of our earliest heritage members and their roles in the evolution of a young United States. Learn about the making of the national anthem, the survival of our capital through the War of 1812, the discovery of comets, building a foundation for economic growth and more.

As of June 30, 2017, they operated in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Retail banking footprint covers approximately 80 percent of the U.S. population, and they serve approximately 47 million consumer and small business relationships with approximately 4,500 retail financial centers, approximately 16,000 ATMs, and leading online and mobile banking platforms with approximately 34 million active accounts and more than 24 million mobile active users.

They offer industry-leading support to approximately three million small business owners. Their wealth management businesses, with client balances of approximately $2.5 trillion, provide tailored solutions to meet client needs through a full set of investment management, brokerage, banking, trust and retirement products. They are a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world.

Analysis:

Bank of America (BOA)'s products and services, vision, mission statement, values, objectives and strategies are in their website https://www.bankofamerica.com.

SWOT Analysis:

SWOT analysis helps the business to identify its strengths and weaknesses, as well as understanding of opportunity that can be availed and the threat that the company is facing. SWOT for Bank Of America Case Analysis is a powerful tool of analysis as it provide a thought to uncover and exploit the opportunities that can be used to increase and enhance company’s operations. In addition, it also identifies the weaknesses of the organization that will help to be eliminated and manage the threats that would catch the attention of the management.

This strategy helps the company to make any strategy that would differentiate the company from competitors, so that the organization can compete successfully in the industry. The strengths and weaknesses are obtained from internal organization. Whereas, the opportunities and threats are generally related from external environment of organization. Moreover, it is also called Internal-External Analysis.

STRENGTHS:

In the strengths, management should identify the following points exists in the organization:

WEAKNESSES:

OPPORTUNITIES:

THREATS:

Following points can be identified as a threat to company:

Following points should be considered when applying SWOT to the analysis:

PEST Analysis:

Pest analyses is a widely used tool to analyze the Political, Economic, Socio-cultural, Technological, Environmental and legal situations which can provide great and new opportunities to the company as well as these factors can also threat the company, to be dangerous in future.

Pest analysis is very important and informative. It is used for the purpose of identifying business opportunities and advance threat warning. Moreover, it also helps to the extent to which change is useful for the company and also guide the direction for the change. In addition, it also helps to avoid activities and actions that will be harmful for the company in future, including projects and strategies.

To analyze the business objective and its opportunities and threats, following steps should be followed:

PEST FACTORS:

POLITICAL:

ECONOMICAL:

SOCIO-CULTURAL:

TECHNOLOGICAL:

STRATEGIC ANALYSIS:

To analyze the structure of a company and its corporate strategy, Porter’s five forces model is used. In this model, five forces have been identified which play an important part in shaping the market and industry. These forces are used to measure competition intensity and profitability of an industry and market.

These forces refers to micro environment and the company ability to serve its customers and make a profit. These five forces includes three forces from horizontal competition and two forces from vertical competition. The five forces are discussed below:

THREAT OF NEW ENTRANTS:

THREAT OF SUBSTITUTES:

DEGREE OF INDUSTRY RIVALRY:

BARGAINING POWER OF BUYERS:

BARGAINING POWER OF SUPPLIERS:

GENERATING AND SELECTION OF ALTERNATIVES:

After completing the analyses of the company, its opportunities and threats, it is important to generate a solution of the problem and the alternatives a company can apply in order to solve its problems. To generate the alternative of problem, following things must to be kept in mind:

It is very important to select the alternatives and then evaluate the best one as the company have limited choices and constraints. Therefore to select the best alternative, there are many factors that is needed to be kept in mind. The criteria’s on which business decisions are to be selected areas under:

Alternatives should be measures that which alternative will perform better than other one and the valid reasons. In addition, alternatives should be related to the problem statements and issues described in the case study.

CONCLUSION REPORT:

Based on the SWOT, PEST, Strategic analysis, Alternative proposal, and further evaluation is required to improve and mitigate few areas as specified in this case study.

There should be only one recommendation to enhance the company’s operations and its growth or solving its problems. The decision that is being taken should be justified and viable for solving the problems.

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