The Bank Of America Has Tackled Major Issues Facing The

1110 WordsJan 31, 20175 Pages
The Bank of America has tackled major issues facing the banking industry by employing its simple customer-focused approach. The corporation’s strategic method to effectively identify and provide a range of financial products and services through direct and indirect customer feedback have been profitable. Nevertheless, the bank’s resource-based view has also impacted the basis of the cooperation’s competitive advantage. This resource-based view lies primarily with the application of valuable tangible or intangible resources. These resources are critical to accomplishing consistent alignment of the cooperation’s MVGO’s and utilized throughout various sectors of the corporation including the human resources, financial, and technological…show more content…
For example, initiatives within the global organization in India include LEAD (Leadership, Education, Advocacy, and Development), YPN (Young Professionals Network), and DAN (Disability Advocacy Network). LEAD is a network dedicated to attracting, retaining, and promoting professional women development. YPN aims at creating a network to attract and retain young professionals, and DAN is committed to hiring and integrate individuals with disabilities (Bank of America, 2017p). This commitment aligns with the organization’s MGVO and is extremely appealing to the global market. This strategy ultimately allows a significant advantage for international expansion and easy partnerships with local and global non-profit organizations. The bank’s initial steps toward upholding the company’s commitment to helping consumers with their financial decisions include their elimination of overdraft fees on daily debit card transactions (Bank of America, 2017f). Secondly, lending to small and medium-sized business has been a critical step in economic recovery. Hence, the Bank of America continues to extend credit to develop various community financial institutions. Lastly, the company provides responsible home lending tools, products, and services that empower real estate professionals to succeed. These offers include the Bank of America’s Down Payment Resource Center which is an online tool that helps first-time homebuyers search for a variety of home-buying
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