Executive summary
Mission and Vision Evaluation: The Company has maintained a plausible vision and mission statement that focuses on ensuring that it develops customer centric financial products and services that are innovatively based. Thus, through the company vision and mission statement, it has managed to ensure growth and market capture.
Milestones: Among the most fundamental milestones, the organization has sustained a top position in the banking industry despite the prospect of financial crisis across US. The plausible performance has been as a result of effective policy statement that is centered on operational Excellency. With millions of customers across US, the operational success has been as a result of plausible emphasis on the effective financial strength that is evident in the business.
External Assessment:
The organizational success of bank of America has been as a result of plausible analysis of the environment. Through the analysis of the company, the two main external factors that have ensured its success include the growth of online banking and the evident emerging markets. Through capitalizing on the two external factors, the organization is bound to catapult its performance mandate.
Internal Assessment:
Financial strength and extensive investment into acquisitions and mergers have been internal factors that have ensured success of the organization. Through capitalizing on the evident internal factors, successful outcomes have been evident at Bank of America. Ensuring further financial performance should be reliant on the internal strengths.
Industry Analysis:
The banking industry is highly competitive and from the analysis of bank of America, it is evident that success has been as a result of product differentiation and service development. Thus, the organization should continue investing into plausible strategy formidable growth is bound to prevail.
Financial Analysis: the organizational performance exudes successful outcomes in regards to profitability ratio and liquidity. The two ratios should play a significant role towards successful outcomes. Through an evaluation of the ratios, effective performance is bound to prevail.
Competitive Strategies: an analysis of the QSPM matrix exudes two aspects of analysis in regards to strategic alternatives. The inculcation of expansionary, product and service differentiation and online banking, using the three strategic alternatives is bound to ensure plausible analysis of the internal and external factors that impact on the organization.
Recommended Strategy:
Expansionary approach is highly advisable for the organization towards successful and profitable outcomes. Expanding into the emerging markets such as Brazil, India and china is highly effective for profitability. The incorporation of expansionary approach will enhance the revenue streams of the organization.
Ethical and Social Responsibility Dimensions of the Recommended Strategy: creating an enabling environment is highly imperative for the employees to improve motivation. Capitalizing on an enabling environment is bound to ensure that the internal conflicts do not prevail. Furthermore, focus on customers through information relay sustains sales and revenue yield to the business.
Implementation Plan: implementation plan in the organization should rely highly on the marketing plan. Towards an international environment, it is advisable that the company implements a marketing plan that relies on three processes. The three processes entail the use of analysis, implementation and control.
