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Wachovia corporation

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Presentation of Wachovia Corporation during Strategic Management class with Mostefa Ider
by Aleksey Narko and Kun Chen

Published in: Economy & Finance, Business
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Wachovia corporation

  1. 1. Wachovia Corporation Created by: Aleksey Narko Kun Chen
  2. 2. What is Wachovia?  The largest financial holding company in its Southeast/East Coast region and the fourth largest nationwide.  It provides: a) broad range of banking, b) asset management, c) wealth management, d) corporate and investment banking products and services.  More than 120000 employees, serving approximately 14 million banking, brokerage, and corporate customers
  3. 3. Continued…  On March 20, 2010 Wachovia finally merged with Wells Fargo.  One of North America’s largest and most diverse financial services companies with a legendary reputation for strength and stability.  Wells Fargo is a diversified financial services company providing banking insurance, investments, mortgage and consumer finance.
  4. 4. Vision statement  The company’s goal is to be known as one of the world’s great companies.  The company wants to satisfy all their customers’ financial needs and help them succeed financially.  The aim of the company is to be the customer’s trusted financial provider.  The other one is to be the provider with whom customers can satisfy all their financial services needs and save their time and money.
  5. 5. Vision statement continued…  The company’s goal is not to make a lot of money, but to understand our customers’ financial objectives, then offer them products and solutions to help satisfy those needs so they can be financially successful.  The main intent of the firm is to attract young people and retain them as customers for life
  6. 6. Company’s mission statement. • "Our product: SERVICE. Our value-added: FINANCIAL ADVICE. Our competitive advantage: OUR PEOPLE“ • Commit to maintain the highest standards of integrity and professionalism in our relationship with the client. • We try our best to know and understand your financial situation and provide you with only the highest quality information, services, and products to help you reach your goals.
  7. 7. Mission audit. • Customers: a) Individual customers b) Small businesses c) Corporations and Institutions • Markets: a) One of the largest providers of financial services in the United States b) Wachovia provides global services through more than 40 offices around the world. • Employees a) More than 120000
  8. 8. Mission audit continued • Services provided: a) Online b) Insurance c) Retirement d) Banking e) Services related to Lending • Business operations a) products and services related to investment banking b) lending of mortgages, and c) auto dealer finance
  9. 9. Wachovia Market Share Market Share Bank of America 12% Wells Fargo 10% Chase 9% Others 63% CITI 4% PNC 2%
  10. 10. Competitive Profile Matrix
  11. 11. Macro Environment. Political: • Drug Money Issue • Environmental issues Economical: • Financial crisis Sociological: • Three main groups of customers Technological: • Constant progress
  12. 12. Porter’s Five Forces • Threat of Competition: High • Threat of New Entrants: Moderate-Low • Threat of Substitutes: Moderate – High • Power of Suppliers: Moderate – High • Power of Buyers: Moderate
  13. 13. Organizational culture • The organizational culture and main features. • Does it support the implement of the new company. • The stakeholders in the company.
  14. 14. The company’s management and marketing? • Management aspects. a. planning b. organization c. motivation d. staffing. e. controlling • marketing aspects. a. Customer b. products/services. c. price d. Marketing research e. Opportunities analysis
  15. 15. Operational AND Financial • Assess the operation in the company. • Financial position. a. Investment, b. liabilities. c. earnings
  16. 16. The CIS and Technology • The situation of CIS in the company. • How about users in the company?
  17. 17. The core competencies of the company • The major strengths and weaknesses of the company. • The core competencies in this company.
  18. 18. SWOT analysis • S= Strength • W=weakness • O= opportunities • T= threat Eliminate some of the local competition Cons
  19. 19. Thank you for attention!

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