EFAS &IFAS tables
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To complete the assignment you MUST submit the followings:
I. External Environment (Requires EFAS table)
II. Internal Environment (Requires IFAS Table)
III. Analysis of Strategic Factors (Requires SFAS table): Use the information from above sections (I &II) to complete SFAS.
IV. Alternatives & Recommendation: The recommendation should be your own suggestions and original based on the outcome of SFAS and should not be based on what the company has been doing. Each strategic option must have pros and cons. Additional research is required on supporting your position / recommendation. The research should be from business and peer review publications. Implementation (How to implement Alternative Strategies / Recommendations): Additional research is necessary to support steps necessary to implement the strategies recommended in section IV.
V. Evaluation & Control (What measures to be used for evaluate the outcome and control the implementation of strategies): Additional research is necessary to support steps necessary to evaluate and control the implementation stage (section V).
Important: ALL sources must be cited per APA guidelines.
Research the site of Bank of America (http://investor.bankofamerica.com/phoenix.zhtml?c=71595&p=irol-govhighlights).
Using your readings, the Library, and the Internet, and any additional resources necessary, you are being asked to complete the following sections of a Strategic Audit (See examples starting on page 78 and pages 179-185 following appendix 11.C):
Analysis of Strategic Factors. Since you are aware that your analysis of strategic factors or SFAS (Strategic Factor Analysis Summary) is based on IFAS and EFAS tables, and since we will need to understand your choices, you are required to submit the three tables in Excel format in one separate file from your written Word assignment. No submission of an Excel file or submission of a table in a Word file will cause you to lose half of the points of this assignment. No comments are needed on the IFAS and the EFAS tables, but comments are needed on the SFAS table, which is the foundation for this assignment (You will submit one Excel file that will include three separate sheets, one for the IFAS, one for the EFAS and one for the SFAS). As a reminder, two files are to be submitted: One Excel file (counting for three pages) and one Word file (five to seven pages double-spaced). You will be graded on your knowledge of the software and math in building the MS Excel tables, and on your ability to communicate in writing and present your arguments.
Strategic Alternatives and Recommended Strategy Here you will be graded on your ability to analyze economic, socio-cultural, political-legal, technological, and financial data to justify your available strategies and the one(s) you recommend.
Implementation: Describe the implementation of the strategy(ies) you recommended.
Evaluation and Control How do you evaluate the performance of your implemented strategy(ies)? For a sample outline of a Strategic Audit, review examples starting on page 78 and appendix 11.C.
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The response addresses the queries posted in 1873 words with references.
//In this discussion paper, we will talk about the analysis of strategic factors of Bank of America. In addition to this, we will also discuss IFAS and EFAS because SFAS is critically based on it, but prior to writing about SFAS of the bank, we will have to firstly go through the background and scope of information related to the bank in order to key out its key functions. So, first of all we will write about the bank under the heading of introduction, for example: //
Introduction:
Bank of America was set up in the year 1874 in Charlotte, North Carolina as a one of the renowned or largest financial institution to offer the banking and non-banking products. The bank mainly serves large number of customers that not only includes individual clients, but also small & middle market businesses and prominent organizations. It offers broad range of products & services like investing, banking; fiscal, assets and risk management to provide the assured 100% satisfaction (Bank of America, 2009).
In 175 countries, the bank is functioning to highly serve the consumers requirements. In addition to this, the bank has sound relationship with 80% of Global Fortune 500 companies and about more than 95% of U.S. Fortune 500. In United States, Bank of America provides high convenience in its services to assist about 54 million individual users and small business units. The financial institution has about 57,000 retail banking offices and approx 18,500 automated teller machine (ATM). Among all the wealth management organizations, Bank of America is one of the booming banks (Bank of America, 2009).
//Above, we discussed about the Bank of America that is the largest financial service organization in banking and non-banking products. As per directions, now we will talk about the internal factor and external factor analysis of the bank. In internal factor analysis, the strengths and weaknesses are included; while in external analysis, the opportunities and threats are included.//
For in-depth analysis of IFAS and EFAS, SWOT analysis is one of the efficacious ways that helps in analyzing the bank's strength & weaknesses in the internal factor analysis summary and opportunities & threats in external factor analysis summary (Ryall & Craig, 2003).
Internal Factor Analysis summary (IFAS): IFAS reflects the strength & weaknesses related to the bank, so that it will be easy for the bank to choose the best strategy as per the conditions.
Strength:-
Ø Strong customer base: In this bank, the base of clients is very strong as it serves a large number of individual clients and also small, middle & large business systems (Bank of America, 2009).
Ø Well aligning of Wealth management: The bank is highly outstanding in its wealth management services, hence it is the world's leading institution in wealth management.
Ø Convenience and Brand loyalty: The bank furnishes high convenience in its services and also it has good product or brand image that will endlessly build strong image in the customer's mind.
Ø Wide range of products: The wide range of products ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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