For American Express Card Company.
1. Reward and Recognition System to Enable Organization Change
This assignment is a presentation on a reward system project established in Week Two with emphasis on implementation.
Develop a final problem solution and proposal to executive management for implementation of a rewards system to support a change initiative in your organization. Based upon the Week Two instructions, and your subsequent analyses of the section entitled elements to be addressed in your proposal include the following sections:
a. Executive Summary
b. Organizational Background
c. External and Internal Analysis
d. Reward System Proposal
e. Metrics System
f. Implementation Strategy
g. Lessons Learned from the project
American Express Card Company: Reward & Recognition System
The given assignment is based on an American company named American Express Card Company. The company wants to have a good employee reward and recognition program to enhance the performance of its employees. For the given case, firstly the company's background is analyzed to have a full knowledge of the company. After evaluating the company's background, the internal and external analysis of the company is done to know the current position of the company in the present business environment.
After making the SWOT analysis of the company, a reward system proposal is developed to reward the employees of the company according to their performance. After this a metric system is developed for the company to evaluate and measure the performance of the employees of the company. In the next step, an action plan is developed for the implementation of the strategy made by the company for the implementation of the reward system proposal. At the end of the project, it is summarized that what lesson can the company and others learn from the given proposal for the better performance of their employees by the provision of an effective reward system.
The United States of America is one of the centers of the world's most popular global business organizations. Among all the popular business organizations of the United States, the American Express Card Company is also one of the renowned companies. The company was instituted in the mid of the nineteenth century in the New York City of the United States. From its origin, the company is considered among the most successful business delivery organizations. From the early years of its beginning, the company is running its business with the help of specific business guidelines. With the help of these business guidelines, the company has become able to establish good brand, products and services for its target customers (American Express, 2009).
The company has its business throughout the world. Currently, the company is operating in more than 125 popular countries of the world. Initially, the company was started as a financial service providing company. During its beginning, the postal services in America were not appropriate, but the origin of American Express Card Company proved as a lifeline for the United States of America as well as the whole world. Today the company is dealing in various fields all over the world. Now it provides its own financial products to the customers. The credit cards provided by the company help the customers to avail of certain facilities for reimbursement and make their business trips convenient.
The company has made several new innovations and business expansions time to time. In the year 1882, the company got an instant success with the help of launching business of money orders. In the same series, the company also introduced the traveler's cheque for the first time on international level in 1891. The year 1905 was a great turn in the company's life, as the Immigration Department of the United States offered a great contract to the American Express Card Company for providing special official services for currency exchange. In addition to this, the company also added traveling business in 1915 (American Express, 2009).
The company has a good reputation in the international business environment due to its company values. The employees of the company have a great contribution in the generation of the new and effective values for the company. The values of the company include commitment with the customers by making good relationship with the customers. The other value of the company is that it provides quality products to the customers, which offer them premium values. The activities of the company have a great integration among them. The main value of the company is team work which it has implemented for the provision of fulfilling customer needs. The company gives full importance to its employees and for this purpose; it encourages the performance of their employees time to time by the provision of rewards and incentives. The company does its work by considering the favors of the community. The company is greatly ambitious to have a good position in the market place.
The company is mainly considered as a credit card issuer. In addition to this, the product and services of the company have a long range. The large product range of the company includes charge cards, credit cards, travelers check and card, travel services, etc. Charge cards of the company are also operated in the same manners as the credit cards are operated. There is a minor difference in both the cards that in these cards, the customers have full permission to have a balance. The cards for travelers are very helpful from the protection point of view. The travel services of the company are helpful for both the members who have cards and those who don't have cards. These services include schedules of flights, booking of hotels, rentals of cars and many other traveling services.
In its history, the company had not a very high degree of competition, but now the company is facing great level of competition. The main competitors of the American Express Card Company are the Visa card and Master card. These have a keen competition with American Express. These competitors have a great business network. These competitors issue their business cards with the help of the bank and the partners. Though the company has a great competition, yet it has several positive achievements in comparison of these competitors. The company has low level of risk of deductions in the case of nonpayment by the card holders.
The employees of the company are its great assets. The company has achieved great values and success with the great contribution of its employees. To maintain the level of success, the company motivates its employees regularly. The main principle of the company is that it has a great feeling of respect for its personnel. The company has several reward systems for enhancing the performance of the employees. The employee development is the main business concern of the company. With the efforts of the employees, the company has gained a good position in the global market (American Express, 2009).
Thus, the overall background of the company is very good. The company has been maintaining its background strength from the very beginning. Through the deep analysis of the company, it is analyzed that the company has a good competitive position and good corporate values. Its business strategies have contributed at a great level in overcoming its market competition.
External and Internal Analysis
Analysis of the business is very important aspect of assessing the actual business performance of a particular company. The business analysis is a long and continuous process which measures the ups and downs of the current business environment of the company. The business analysis can be categorized in two parts namely internal analysis and external analysis. Both the internal analysis and external analysis are equally important for the business organizations.
The internal analysis of the business organization includes the analysis of the strengths and weaknesses of the company. These factors provide several advantages and disadvantages for the company. Strengths of a company are its positive aspects, which help it to have great advantages for fulfilling the requirements of the target customers. The weaknesses are the limitations of the company, which cause problems for the business process of the company. In the internal analysis, both marketed and non-marketed aspects are considered (Stahl & Grigsby, 1997).
The American Express Card Company also includes analysis of strengths and weaknesses in its internal analysis. Just like the other companies, American Express also has several strengths and weaknesses. The internal analysis of American Express is as under:
Strengths: The American Express Card Company has the following strengths:
 American Express is a well renowned global business organization and a leader company in its business field. The company provides the best services related to travel, banking and financial advisory and other services related to payments. With its efficient services, the company has become able to make a good position in the current global business environment.
The business of the company is very vast and expanded on a large level all over the world. This great business expansion provides balanced business profits to the company. If the company has some loss in a particular business market, it becomes balanced with the comparatively higher profits in the other market. Thus, the global expansion is the great strength of the company (American Express, 2009).
 The company has very high average business spending in the business transactions, which is more than its keen competitors MasterCard and Visa. This gives a great competitive advantage to the company.
 On the basis of the credit score, the American Express Card Company has the lowest level of vulnerability to sub-prime card holders. This works ...
The response addresses the queries posted in 5720 Words, APA