The Bank of America Case Study by writingsensation

The Bank of America
This paper analyzes the Bank of America (BOA), incorporated in 1968 as a provider of financial services and products throughout the United States and in selected international markets.
# 68288 | 3,235 words | 9 sources | APA | 2005 | US
Published on Aug 14, 2006 in Business (Companies) , Business (Finance, Investment and Banking)


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Description:

This paper relates that, as of 2005, the Bank of America had $1.2 trillion in assets and approximately 175,000 full-time employees in 190 countries, managed through four business segments: 1) Consumer and commercial banking; 2) asset management; 3) global corporate and investment banking and 4) equity investment. The author points out that the company's business model is based on recognizing its domestic and international consumers' needs and identifying more effective ways of delivering products and services to satisfy them, for which BOA has been an industry leader for years. The paper relates that the most glaring problem is the need for the company to concentrate on using its expertise in CRM (customer relationship management) to identify opportunities for improving its customer service in other countries where it is newly arrived and where the relationship between the country managers and its key executives remains formative. Many charts and graphs.

Table of Contents
Company Background
Company History
Milestones/Critical Events
Size, Markets, Market Share
Locations
Detailed Description of Business, Products and Services
Consumer and Commercial Banking
Asset Management
Global Corporate and Investment Banking
Equity Investments
Vision and Mission
Goals-Objectives-Strategies
Business Model
Company Performance
Management Characteristics
Bank of America Key Executives
SWOT & Analysis of Core Competencies, Capabilities, and Competitive Advantage
Strengths
Weaknesses
Opportunities
Threats
Direct Competitor Comparison
Major Issues / Problems

From the Paper:

"The term "bank" credit card is more accurately labeled a "universal" consumer card today, and this ubiquitous card was the brainchild of Bank of America. According to Robert D. Manning, the credit card as it exists today first emerged in 1958; the author notes that businesses stood to gain from this innovation for several reasons despite the added transaction costs. The universal bank credit card (1) offered a competitive alternative for consumers who shopped with proprietary retail credit cards, (2) lowered the merchants' costs for their own credit programs by reducing bookkeeping expenses, (3) eliminated cash-flow bottlenecks by reimbursing purchases within days, and (4) provided a path to a potentially large customer base that included all of Bank of America's clients. By the summer of 1958, Bank of America mailed out almost 100 million unsolicited credit cards."

Cite this Case Study:

APA Format

The Bank of America (2006, August 14) Retrieved July 17, 2019, from https://www.academon.com/case-study/the-bank-of-america-68288/

MLA Format

"The Bank of America" 14 August 2006. Web. 17 July. 2019. <https://www.academon.com/case-study/the-bank-of-america-68288/>

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