Reference no: EM133141659
Bank of America Corporation (BAC)
Headquartered in Charlotte, North Carolina, Bank of America Corporation serves individuals, businesses, institutional investors, and large corporations and governments worldwide on a variety of financial needs. Having over 209 thousand employees, Bank of America reported 2017 revenues in excess of $87 billion. The company operates in over 40 countries and all 50 U.S. states with a footprint that includes 80 percent of the U.S. population. The company has over 16,000 ATMs and 34 million accounts with 25 million mobile users and 5,500 branches. The company serves over three million small business owners and is considered the global leader in investment banking and trading. By some metrics, Bank of America is the second largest bank in the United States.
The organization is made up of Bank of America, Merrill Lynch, U.S. Trust, and Bank of America Merrill Lynch and offers eight lines of businesses. These include retail, preferred and small business, Merrill Lynch Wealth Management, and U.S. Trust for individual consumers. The company offers commercial, corporate, and investment banking to businesses. For institutional investors, Bank of America offers brokerage, banking, trust, and retirement products.
SWOT Analysis
Strengths
Identify the strengths of the organization and answer the following questions:
How does this strength affect the operations of the organization?
How does this strength assist the company in meeting the needs of its target market(s)?
Weaknesses
Identify weaknesses of the organization and answer the following questions:
How does this weakness affect the operations of the organization?
How does knowledge of this weakness assist the organization in meeting the needs of its target market(s)?
Opportunities
Identify opportunities in the industry (and/or external environment) and answer the following questions:
How is this opportunity related to serving the needs of our target market?
What actions must the organization take to capitalize on this opportunity?
Threats
Identify threats in the industry (and/or external environment) and answer the following questions:
How is this threat related to serving the needs of our target market?
What actions must the organization take to prevent this threat from limiting the capabilities of the organization?