Bank of America

Business Analysis of Bank of America

MGT/521

6/29/2011

Dennis Stroud

Abstract

Bank of America has the drive to become the leading financial provider in the world. The business continues to pulled through obstacles and identify ways to become more competitive in the market. Bank of America has improved its capital and financial position relative to last year. Bank of America outlined the long-term financial goals that it hopes to achieve throughout the next few years. Bank of America continues to strive to increase the business revenues. Bank of America is a large organization that like other growing companies has high goals to be number one. To achieve these goals, Bank of America has recognized the need to focus on customers’ needs and the business strategies.

Human resource management is very important in businesses because now a day it takes the employees contributing ideas and being engaged in executing the company’s strategy to be successful. For all the employees to be involved is vital to a business’s competitive advantage. Bank of America dominates the market in the US and uses its strengths to gain competitive advantage over its competitors. Bank Of America Corp has a huge customer base. The innovations and value that it provides with its services, is its strength in attracting clients. Allowing online banking, mobile banking, and large retail availability is considered convenience strengths for the company. Bank of America has many other perks in the company. Offering mortgage relief for the military is one of the strategies that Bank of America intends to use to increase business and customer service. This program is designed to improve key benefits to those on active duty and extending mortgage protections for service members beyond active duty. Another strategy that Bank of America used is the business developed a social network. This network is said to be a site for small business owners to be apart of...