Wellsfargo

1.What were the driving forces that lead Wells Fargo OFS to redesign their strategy and

Processes? Please think about the external vs. internal and business vs. technological aspects

Of the issues and challenges. You can take the SWOT analysis approach.

The Driving forces that lead Wells Fargo OFS to redesign their strategy was financial metrics. OFS management team believed that an over reliance on financial measures could lead to short term decision making which would ultimately result in financial loss. And also growing market with new competitive threads and customers demands were one of the reasons to rethink on strategy.

External vs Internal

* Online banking is cost saving opportunity for bank as well as for the customers. In which the customers are external entity. And OFS call center which handled customer service requests are external entity. Technical support agents for complicated technical issues, phone support agents for enrollment and email agents for customers who requires support via email.

* Based on the feedback of customers for the services provided to them by bank there is scope for redesigning strategy and processes and achieving significant efficiencies down the road.

Business vs Technological aspects.

* From technological point of view, the online banking which is popular among Wells Fargo customers requires internet to do transactions. Internet speed which is 7 to 10 times faster than the business operations is the major gap between technology and business.

* Due to competitive business environment and emerging technologies in market OFS management team had to come up with a tool that would synchronize the strategy that they were doing on daily basis and translate it into measurable results. Which would help them to communicate with senior management, other departments, and employees.

2. Based on the case, create a summary of the major steps that can be used for mapping strategy

(objectives) , measures, and processes?...