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Bank Of America Essay

1833 words - 8 pages

merica Corporation. Assessment of the external environment of the financial services sector; an internal/external assessment of B of A.; a 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 ...view middle of the document...

Chart 1Porter's Five-Forces Model of Competition[pic] The Five Forces model is closely associated with the value chainconcept (Porter, 1995). Moving from concept to reality can be hard. Financial Executive, 2 (9), 1 -11.Porter, M. The IFE assesses theeffectiveness of a firm's efforts to improve in areas of weakness andcapitalize in areas of internal strength. The growing demand for |. Northwestern Financial Review, 19 (5), 17-19.Hoover's, Inc. At the center of this model are thecompetitive forces created by the strategic actions of rival firms within amarket. 5 |4 |.2 ||States economy is characterized by | | | ||spotty growth | | | ||4. Below financial services norms in||2. The strategy and objectivesrecommendations for Bank of America are based on the preceding analysespresented in this paper. . (2 5, March). The external factors evaluation for Bank of America is presented inChart 6. The sum of the weighted scores is the EFEscore. This section of thereport includes assessments of the several levels of the company'sstrategy, as well as recommendations for changes in the company's strategicfocus. The assessment of the financial services industryin relation to the Five Forces Model is summarized in Chart 2.Industry Life-Cycle Analysis The financial services industry is diverse and complex. The opportunities and threats of SWOT analysis are the keyfactors evaluated in an EFE. (2 4, December). The final section of this report includes a strategy assessment andstrategic recommendations for implementation by Bank of America to maintainand strengthen the company's competitive position. 5 |3 |.15 ||5. G. (2 3, July/August). | ||Bargaining Power of Suppliers | | |? The spheres of a firm's external environment are asfollows: (a) economic; (b) social; (c) cultural; (d) demographic; (e)environmental; (f) political; (g) legal; (h) technological; and (i)competitive. Performance of United States ||access |economic is characterized by spotty ||4. Technology also provided the players in theindustry with the tools to create new financial services and to seek newways to link existing customers with additional financial services. Review (Federal Reserve Bank of St. Theresults of the competitive profile matrix analysis indicate that Bank ofAmerica must continue to monitor its strategic performance, and that Bankof America must be prepared to modify strategy as required in order to meetcompetitor responses to changes in the market.SWOT Analysis The SWOT analysis for Bank of America is presented in Chart 5. While the capability of a firm to respond tothe external opportunities and threats is a function of a firm's internalstrengths and weaknesses, the EFE does not measure strengths and weaknessesdirectly. Operational |.14 |4 |.56 |4 |.56 |4 |.58 ||Productivity | | | | | | | ||Total |1. (4th ed.). The strengths and weaknesses of SWOT analysisare the key elements evaluated in an IFE. In an economic context, the spotty economy in the first half of thefirst decade of the...

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