National Bank : A Financial Institution

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Trustmark National Bank is a financial institution that is comprised of various divisions offering financial services throughout the southeast region of the United States. Trustmark is publically-traded on National Association of Securities Dealers Automated Quotations (Nasdaq), has total assets over $12.6 billion, and the net income for the first quarter of 2016 was $27 million (www.trustmark.com, n. d.). While primarily recognized for the banking division, Trustmark offers mortgage, trust, and wealth management services. The primary objective of Trustmark Wealth Management (a division of the Trustmark organization since 1925) is to facilitate affluent clients with the accumulation, preservation, and transfer of wealth through various…show more content…
While all wealth management firms strive to amass more funds to manage, each firm pursues this goal differently (albeit occasionally negligible) from any other by following a predetermined path. A relevant organization understands that the strategy is not only a guideline but formative; the strategy of a newly created company changes over time in response to growth and demands (external and internal). As Blocher, Stout, Juras, and Cokins (2016) discussed, contemporary business environments have different foci from previous business environments. Global competition, information technology, the intensity of customer focus, and lean manufacturing techniques were foreign concepts to previous generations of decision makers. Examination of an organization’s strengths, weaknesses, opportunities, and threats provide the organizational decision makers insight into ideologies and processes that capacitate goal attainment. Whereas the SWOT analysis is an organizational vignette depicting where the company excels and falters, the balanced scorecard (BSC) details specific elements necessary to achieve identified goals and indicates how to achieve these goals. Blocher et al. (2016) described these elements as critical success factors and characterized the BSC as a benchmark or a model. This management tool is a blueprint of how the company will
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