Strategic Plan For Bank Of America

18,841 views

Published on

Published in: Economy & Finance, Business
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
18,841
On SlideShare
0
From Embeds
0
Number of Embeds
29
Actions
Shares
0
Downloads
307
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Strategic Plan For Bank Of America

  1. 1. Strategic Plan for Bank of America<br />By L.Ray<br />
  2. 2. Executive Summary<br />19.6 million online customers<br />Over 5000 branch locations<br />Acquisition of MBNA<br />
  3. 3. MergerJune 30, 2005<br />Purchased MBNA for $35 billion in cash and stock<br />Merger closed on January 1, 2006<br />Now the largest issuer of credit cards in the U.S.<br />Surpasses J.P. Morgan Chase<br />
  4. 4. Strengths<br />Strong cash position<br />Long standing name<br />New acquisition<br />Over 5700 brick and mortar locations<br />Convenient banking available<br />Investment opportunities<br />
  5. 5. Weaknesses<br />Increasing Overhead expenses<br />Online lending<br />Mortgage have gained more than 70% of the mortgage origination market over the past decade.<br />
  6. 6. Industry Environment-Competitive Rivalry<br />New entrants<br />Buyers<br />Suppliers<br />Substitutes<br />Industry competitors<br />
  7. 7. New Competitors<br />Car Manufacturers<br />Insurance Companies<br />Retailers<br />Internet Based Companies<br />Supermarkets<br />
  8. 8. Long Term Objectives<br /><ul><li>Increase Market share
  9. 9. Increase customer base
  10. 10. Increase profitability
  11. 11. Reduce Overhead
  12. 12. Reduce service fees</li></li></ul><li>Critical Success Factors<br /><ul><li>Effective Communication
  13. 13. Maintain customer loyalty
  14. 14. Internet banking education
  15. 15. New advertising
  16. 16. Constant customer service monitoring</li></li></ul><li>The strategy being implemented will enable Bank of America to enhance its revenue, and aid in becoming the number one bank in the United States.<br />

×