Bank Of America Sources for your Essay

Bank of America Is a


Moynihan was President until the end of 2009 when then-CEO Kenneth Lewis retired. Moynihan's era has been marked by dramatic changes already, such as the reduction of banking fees and indications that the company expects to be moving in the Chinese market (Chu, 2010)

Bank of America Is a


In addition, the board has at least six independent members with financial service industry experience, capable of lending adequate oversight to the Bank's financial dealings. The composition of the compensation committee is split between bankers and non-bankers (Bank of America Investor Relations website, 2010)

Bank of America Business Proposal Case Study


A minor acquisition here or there, especially to boost technological capabilities, is fine, but only to around $5-$10 million or so. Major acquisitions should be off the table for the time being, as they will be too disruptive given the need to integrate Merrill for at least another year and this will require management's undivided attention (Dahl, 2011)

Bank of America Business Proposal Case Study


It is recommended that the CEO ignore them, since the person creating them lacks the inside knowledge that would normally take a team of experts several months to acquire. As an example, it wasn't until 2013 that the company was able to make the decision to unwind the Merrill Lynch business unit (Son, 2013)

Bank of America Business Proposal Case Study


Over time, being more technologically-forward can help the company to capture new business by using social media to reach out to customers, by using mobile apps to provide better service when and where the customer needs it, and by improving the image of the bank to the customers. While more tactical in nature, it is clear that mobile is an area where Bank of America, by virtue of its size, can invest more than many of its competitors and gain some advantage (Yurcan, 2013)

Boa Commercial Bank of America Commercial \"Portrats\"


BoA Commercial Bank of America Commercial "Portrats" Bank of America -- Ad of the Day (Thielman, 2013) This advertisement shows a retro family as they progress through the years

Bank of America Built Its Success by


Bank of America has adopted a global leadership philosophy based on three essential ideas. These are that the company should create global constituencies, that there are cultural distinctiveness elements that add value to the firm's leadership and that individual must take ownership of their careers and their division (Carter, 2012)

Bank of America Built Its Success by


To that end, Bank of America also has a philosophy of teaching its future leaders, through mentorship programs. The company also believes in "invest in the best and focus the rest," a talent management philosophy that emphasizes the top performers for top roles, and gearing the other leaders towards more functional tasks (Knighton & Krupp, 2008)

Bank of America Strategy Bank of America\'s


Since the Great Recession started, unemployment skyrocketed to 9% has remained at that rate. Some economists consider 9% the new norm because the base unemployment rate has shifted (Weidner & Williams, 2011)

Bank of America: As Part of Its


e. use of mobile browsers, SMS services, and downloadable applications (Gabriel, 2011)

Bank of America: As Part of Its


The main reasons for this rapid growth are the increasing awareness among users, improvements in mobile networks and devices, and improved mobile banking features. Consumer interest in mobile banking is increasing and growing more than the traditional and online banking services because of increased mobile banking solutions due to the ubiquity of stylish mobile devices (Paisner, Castonguay & Collins, 2009)

Bank of America Leadership Overview of Corporation


This is quite true for Bank of America, in which the new executive faces three complex dilemmas when they step into a new role. They must: 1) gain technical mastery over new systems, theory, and data -- quite complex depending on their level of current expertise; 2) lack of developmental feedback because of the assumption that they are already competent leaders, and; 3) extremely high expectations, a steep learning curve, no real mentoring, and not much time to become expert may equal failure/derailment (Fishel and Conger, 2009, p

Bank of America Leadership Overview of Corporation


Because of this, Bank of America has developed an onboarding process to allow for more peer-to-peer interaction, executive interaction with the CEO, CFO and some Board Members, and the development mechanism to improve on skills and knowledge for the organization as a whole. Esenntially, research has demonstrated that onboarding, particularly at the advanced executive level, is an organizational socialization technique that, because it is non-standard and not near the day-to-day operational side, leads to extermely positive outcomes: higher job satisfaction, better perofrmance, more organizational commitment, reduction in stress, and a better understanding of the long-term and/or strategic direction and expectations the organization has of them (Kammeyer-Mueller and Wanberg, 2003)

Bank of America Leadership Overview of Corporation


A "position" is something one is hired into, or appointed -- whether that results in leadership is dependent on the qualities of the individual. Some leaders rise from relative obscurity, and lead from below; some managers never learn to lead (Ventura, 2008)

Bank of America Leadership Overview of Corporation


Colleagues are vying for more power and position and do not see coaching or helping anyone else as part of their role. Ironically, these factors contribute to an astounding 40% failure rate within the first two years of promotion (Watkins, 2003)

Bank of America SWOT Analysis


Current SEC filings also show that the company has 6,100 retail outlets and banking locations and supporting a total of nearly 29M transactions on a weekly basis for its customer base. All of these operations advantages are possible given the top-of-mind awareness the bank has as a leading financial services institution and its continual commitment to improve business processes over time (AlSagheer, 2011)

Bank of America SWOT Analysis


Included in these efforts are selective uses of Six Sigma business process re-engineering services to streamline and make more efficient their core business processes (McKenney, Mason, Copeland, 1997). Bank of America continues to be plagued with a very low level of customer satisfaction that were in part driven by their decision to concentrate more on internal efficiency and less on customers getting their transactions and banking done more efficiently (McKenney, Mason, Copeland, 1997) (Gonzalez, Mueller, Mack, 2008)

Bank of America SWOT Analysis


Despite the challenging condition of Net Income and above the lien expenses including SG&A, the Bank of America continues to stay financially viable based on a strong mix of lending and funding sources globally. Another major strength of the Bank of America continues to be its commitment to continually improve the customer service experience for its customers through the use of investment in technology and the latest generation of database and data mining technologies (Orr, 2005)

Bank of America SWOT Analysis


These six business units include deposits, global card services, home loans & insurance, global banking, global markets, and global wealth & investment management (GWIM). Bank of America continues to invest heavily in information systems and technologies to enable greater levels of automated customer service to drive down their operating costs (Schultz, 2010)

Bank of America SWOT Analysis


Bank of America continues to be plagued with a very low level of customer satisfaction that were in part driven by their decision to concentrate more on internal efficiency and less on customers getting their transactions and banking done more efficiently (McKenney, Mason, Copeland, 1997) (Gonzalez, Mueller, Mack, 2008). This mindset has completely reversed in the last three years and today Bank of America is one of the leading banking institutions to invest in information technologies including secure mobile banking (Valentine, 2011)