For the purpose post, we will assume Bank of America will be expanding its business globally, and will examine the Banking Industry in at least one foreign country with an eye to global expansion. Scan current authoritative business sources to locate and discuss some global factor that pertains to the banking industry, Bank of America. Why does this global factor matter, and how should a company’s leadership respond?
Banking industry/sector is booming throughout the world. Bank of America one of the leading banks in the United States and has good reputation in the market. If Bank of America opts for global expansion then it will have to conduct a market research on the target market and should find the global factor which can impact the sustainability of its expansion.
Consider the foreign market UK which is a potential market, when considering the banking industry and in terms of the population. PESTLE analysis can be performed to evaluate the effectiveness of the market and identifying the global factors that will best facilitate expansion.
answer-
When bank of america goes international and expand its business operations then it would have to face many external factors which are not in control of the bank firm.Bank of america is definitely a reputed bank but if it have to operate in one other country like UK then it has to analyze factors like economical, legal, political, technological etc.
Economical factors impact the most on the services of Bank of america. Economy of UK strong and people are there highly employed and have high purchasing power means people have more savings and money to invest. so, Economical factors is the most influential factors for the Bank of America to get success in UK.
Other factors like technological, political or legal factors may not be opportunistic like Economic factor because technology is dynamic and changes rapidly, legal factors of UK like laws, policies related to banking industry and employee hiring and compensation are different from US. Political factor includes like political parties in power who can impact the business of Bank of america like government of UK may try to restrict the business of this bank to save the home country's business.
So, Bank of america should focus on mostly legal and technological factor which are the most influential as they changes rapidly and try to make friendly and healthy relationship with government of UK to get easy entry and less competition from the market. bank of america may use strategy of strategic alliance to enter in the UK to join the temporary partnership with UK bank.
*hope this feedback would help you.good luck. if it helps pls give thumsup.
For the purpose post, we will assume Bank of America will be expanding its business globally,...
I’m doing a paper for my Entrepreneurship class on starting a cannabis delivery service company that will be focusing on delivering cannabis and cannabis related products from growers to dispensaries and/or from dispensaries to clinics in the state of California. In other worlds, we are only doing business to business deliveries and not to consumers. I need help addressing and answering everything in the picture (industry analysis) including the STEEPG analysis which includes: social, technology, economic, environmental, political/legal, and global...
e-Business Strategy and Models in Banks : Case of Citibank E-business strategy in Citibank: Banks today are up-to-date with both the pros and cons of the internet. They are aware of the opportunities and threats that are associated with the Web. Not a single traditional bank is brave enough to face investment analysts without an Internet strategy. But even a very thoughtful approach to the Web may do no good to the company/ organization. The main purpose behind launching online...
Q.3\ How could IT/e-banking assist an organization/ a bank to achieve a competitive advantage in the marketplace? Explain through the case of Citibank. please make sure you give a unique answer (not copied one) ,Please no hand writing, and need references. This question is from ECOM 421 e-Business Strategies and Business Models course e-Business Strategy and Models in Banks : Case of Citibank E-business strategy in Citibank: Banks today are up-to-date with both the pros and cons of the internet....
What did you learn from HSBC’s case when applying concepts and theories from this chapter?( I want more 600 word) PROFESSOR'S GUIDANCE FOR THIS WEEK'S LE: You should know that HSBC has always been one of the most controversial banks worldwide. As an example, one can refer to HSBC to pay $101.5 million to settle fraud charges. Such a large global bank is worth a fair amount of investigation before attempting to post. CASE STUDY HSBC in 2015: Complex Global...
What did you learn from HSBC’s case when applying concepts and theories from this chapter?( I want more 700 word) PROFESSOR'S GUIDANCE FOR THIS WEEK'S LE: You should know that HSBC has always been one of the most controversial banks worldwide. As an example, one can refer to HSBC to pay $101.5 million to settle fraud charges. Such a large global bank is worth a fair amount of investigation before attempting to post. CASE STUDY HSBC in 2015: Complex Global...
Instructions- please describe how you feel about the following statement without plagiarizing; What are the top 3 risks to your business expanding globally? The three important factors to evaluate before expanding any business globally or in foreign countries are economic risks, political risks and corruption. Economic risks include devaluation of foreign currency due to different exchange rates or restriction by foreign country on money transfers therefore lowering the initial invested capital; inflation is another economic risk, inflation creates low profit...
From the below.docxkainaat1102 hours agoBusinessCollegeFrom the below-mentioned research paragraph, extract the following information:I. Identify the research gap.II. Identify the research objective of the study.III. On the basis of the research, the objective suggests the research question of the study.IV. Identify the theory used in the study.V. Suggest a title for this research paragraph.Retaining employees is one of the critical issues faced by the organization all over the globe for many years, that how to retain some of the skilled and...
here have two topic: 1. The potential impact of Computer Games on the Meat Industry 2. The potential impact of Internet Of Things on the Medical Tourism Industry explore both the technology and the industry, to understand the potential impacts. Write a description of the technology and the industry (Helpful Hints: Consider the impact of the technology on the people in the industry; will it make their lives easier or harder? • Can you draw parallels to other industries where...
Please solve the final answer for all following 10 multiple choice questions Which argument does not refer to Preferential Trade Agreements (PTAs)? O PTA reduces trade barriers among members but discriminate against non-member countries O PTA promotes regionalism and is as such against the idea of multilateralism in trade O Some people view that the formation of regional trade agreements (RTAs) undermine the WTO O PTA encourages regionalism and it is harmful since it leads to trade diversion O All...
Read the following case study and answer the questions at the end of it Case Study Martin and Gollan (2012) in their article on ‘Corporate governance and strategic human resources management in the UK financial services sector’ discuss the case of the Royal Bank of Scotland (RBS). RBS was founded in 1727 in Edinburgh but remained a small local bank rooted in the Scottish economy until the 1990s. However, deregulation of financial services in the UK in the mid-1980s led...