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4 Problems and 4 Oppurtunities In Banking Industry

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You have been given the opportunity to take control and make the changes that you deem necessary. Pick a specific company in the industry that you have chosen. Diagnose four (4) problems within the company or four (4) areas where you see that there is opportunity to be better and more profitable. Provide your solution to these problems or areas for growth.

Your problem areas should be specific (consider the four p's of marketing: price, promotion, place, and product) and are able to be fixed. Your paper should include a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats).

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Banking Industry

At the retail level, information technology and information systems have ensured massive changes within the retail sector in the business world today. If there was no appropriate information system, innovations within the direct banking would have been unthinkable however, information systems have ensured a support of the massive changes in the way different activities are carried out within the banking sector (ARDUINI & MORABITO, 2010).

There are several companies within the banking industry for example the bank of America. The bank of America is known to have a reputation of being the best as well as the largest bank in holding in the United States. This bank is also known to be second largest bank in the States in terms of market capitalization based on assets. This bank serves over 150 countries while bearing a relationship of about 99 percent of the Fortune 500 companies in the United States and about 83 percent of Fortune Global 500 companies (Research,2005).

Back in the year 2008, the Bank of America made an acquisition of Merrill Lynch which resulted in the corporation becoming the largest wealth manager and a pioneer existing in the investment banking industry around the globe. Afterwards, in the end of the year 2010, the Bank of America was recorded to be the fifth largest company in the United States based on the revenues it collected. In addition to this, this bank was also recorded as the second largest non-oil firm in the entire nation (Research, 2005).

There are several opportunities, threats, weakness and opportunities which are related to the Bank of America. The Bank of America is known to dominate the ...

Solution Summary

Four opportunities in the banking industry are examined.