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Case Study Of Amex

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American Express Company, also known as Amex, is a leading American Multinational, operating out of more than 40 countries (American Express, 2015). Founded in 1850, this American giant has undergone many business transformations due to its changing customer’s needs & economic conditions. Today, AmEx operates in the financial and travel services industry, with credit cards, charge cards, and traveller’s cheques making up the majority of its global business. However, one hundred and sixty years ago, this was not the case; it was a simple express mail service located in New York State. It has grown from these humble origins to the; 22nd most valuable brand in the World (Forbes, 2015), 88th on the Fortune 500 list (Fortune , 2015), it is …show more content…

Chenault, the CEO of AmEx, and consultants dealing with the business turnaround of AmEx would discuss the perceived problems above. They would discuss the Nature of the Problem(s): • The seriousness of the problem(s) and rate them accordingly • An initial period for business turnaround • How other firms are faring and how they are dealing with the problem(s) • When the problem(s) started in AmEx • And finally the perceived cause of the problem in Amex Chenault himself has experience in leading business change within AmEx, this along with AmEx’s culture of change, should make the organisation open to new ideas. AmEx is in a unique position with comparison to its main competitors. It has emerged stronger and more willing to change since the 2007 crash. AmEx’s history of change demonstrates this. The Article from Bloomberg, suggests AmEx’s decline consists of mainly low growth, a devaluation in its perceived brand value by its customers coupled with a changing of its operating conditions in the US. This suggests a weakening in AmEx’s strategic position. Chenault and the consultants would discuss at the next meeting how to Fix the Problem(s): • The best process • To use outsides assistance • Resources Required • Will the problem(s) be

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