Bank of America
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Using Bank of America, research this international company. Conduct a brief organizational analysis by answering the following questions.
1. Are its production facilities centralized or decentralized?
2. Does it standardize products or adapt them for different markets?
3. Does the company make use of work teams?
4. What type of organizational structure does it have?
Based on the strategies that this company employs within the organization, will the company be successful in its international ventures? What changes would you recommend the organization make it help it be more successful in international markets.
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Solution Summary
The response addresses the queries posted in 1472 words with references.
Solution Preview
The response addresses the queries posted in 1472 words with references.
//The paper deals with the research analysis of The Bank of America. The various functional policies are thoroughly analyzed for this purpose. The annual report of the bank is the basic informational source for the whole paper.//
Bank of America
The history of Bank of America is around 100 years old and today, Bank of America is the second largest bank in terms of market share. This organization is the largest firm of America in terms of assets. The bank operates in more than 150 countries over the globe and approximately 99% of the big shots are added in to their clientèle. Since the bank has acquired Merrill Lynch, it has become the biggest wealth management organization and the leading company in the investment sector. The firm holds about 12.5 % of the American deposits and is counted in the four biggest banks of America (Bank of America, 2010).
Production facilities
The findings of the research department of Bank of America stated that much of experimentation with the customized patterns of working would not work in favor. Implementation of newer techniques will require lot of changes. This will not be acceptable to the bank and the employees too. Hence, bank of America follows a traditional pattern of offering the production facilities. The various types of facilities offered by the bank are centralized in nature. The recent trends and the demands by the customers have forced the bank to follow a hybrid approach. Rather than to follow a completely centralized or decentralized approach, adopting hybrid approach is good enough.
In this case, the sensitivity of the matter deals with the nature of the decision. If the decision is more of authoritative kind, then the centralized approach works. If the issue is not much about the decision making, then the decentralized approach can be followed. The hybrid form is known to be a blend of both, the centralized approach and the decentralized approach. This also matches well with the nature of the international business. The service is not hampered due to the centralization and decentralization of the production facilities. This fact is supported with the network of operations of bank of America (Thomke, 2003).
//Till now, the paper has discussed about Bank of America, the ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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