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    EFAS &IFAS tables

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    8 to 10 Pages
    Details: 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.
    Please submit your assignment.

    Points Possible: 200
    Date Due: Sunday, Sep 20, 2009
    Objective: Explain the strategic management process within the global environment.
    Conduct various environmental analyses as they relate to an organization.
    Formulate strategies and potential strategic alternatives for different situations.
    Use effective communication techniques.

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    Solution Preview

    The response addresses the queries posted in 1685 words with references.

    // In this paper, we will perform the strategic analysis for the corporation i.e., Bank of America. We will conduct the internal and the external environmental analysis of the firm. This will involve the internal and the external environmental factors. Before proceeding further, we will begin our paper with a brief introduction of the company.//

    Introduction

    Bank of America is one of the biggest financial organizations that render services to the individual costumers, small and middle scale businesses; also large scale corporations by providing an ample range of investing, asset management, banking and other financial and risk management products or services. The company serves around 53 million customers, in around 150 countries, incorporating over 6100 retail banking offices, 18,500 ATM's; and online baking benefits availed by 29 million customers for which, it has been awarded too. It offers banking and non -banking financial services to its clientele. It is listed in the New York Stock Exchange (Bank of America, 2009).

    // Now moving further in the process, we will perform the SWOT analysis of the firm. The internal analysis will cover the strength and weaknesses of the firm; whereas, the external analysis ought to highlight the threats and opportunities prevailing in the market.//

    Internal Environment

    To analyze the market position of any firm, it is necessary to conduct an SWOT analysis. SWOT stands for strength, Weakness, Opportunities and Threats. Here, the SWOT analysis that has been conducted for the Bank of America. This analysis is a significant because the company's internal environment is evaluated with its assistance. Internal environment analysis helps in assessing the firm's resources, capabilities, competitive advantage, weaknesses and capabilities.

    Strength:

    The firm has produced innovative products and services that is the biggest strength of the company, as it is able to draw more and more customers.
    The company has high customer base, which means that if more clients are associated with the firm, it would be able to generate huge amount of profits by gratifying the needs of the customers.
    With the introduction of online and mobile banking facilities, the patrons are provided with the additional services.
    Weakness:

    The firm is not able to move quickly in the market as compared to the regional operators.
    The firm has lost the capability to compete in 'one on one' environment, where the size of the business was not up to the mark.
    Bank of America has weak trading operations. (Norton, 2002).
    External Environment:

    The factors, which operate outside the business environment and are beyond the managerial control, are known as the External factors. External environment includes the opportunities and threats. The factors that can be ...

    Solution Summary

    The response addresses the queries posted in 1685 words with references.

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