Work Place Observation and Culture

Bank of America thrives off of the premise that they are aiming to enhance the financial lives of their customers. Per the Code of Conduct, Bank of America believes in treating all of their customers equally; they claim to expand beyond expectations to deliver satisfactory customer service; they implement discipline to eliminate financial risks to customers; they pride themselves on acting responsibly; and they strive to help individuals to reach their full financial potential. This company enforces the belief that they honor their ethics fully. This includes making

Bank of America is an amazing bank. In 2002, my family decided to move to Virginia Beach. Since I was 10yrs old, I have banked with Bank of America ever since. The personnel at Bank of America are amazing! Every time I walk in, they greet me by my name and knows my family. In particularly, Bank of America helps me watch my credit cards and bank accounts. A couple of weeks ago, someone tried to use one of my credit cards. I had not realized anything until I received a new card with a different account number. So, I decided to call the company and they explained everything. Overall, I felt safe and secured that my credit card has protection, including my personal information and my accounts. In conclusion, its amazing how Bank of America has

As Bank of America corporation work to serve our customers, clients and communities, and generate returns for our shareholders, we understand that success is only meaningful when it is achieved the right way, with the right values. Their commitment to this principle is the key to sustaining the public trust and confidence in their company, and the key to long term [success.

Bank of America is an American global banking corporation which just provides banking and financial services to individuals and customers. The bank has covers each area, such as serving individuals, providing financial management products and services. Also it covers a larger area and operates in a lot of banking platforms. A change of retailing banking services is provided by the bank to its customers and individuals, (Jorion, 2009). Some of the lending practices at the Bank of America are going through the account, providing credit card facilities, savings account service. Going through the account allows for the deposits of various funds through phones and other technology and monthly waivers for the students who are able and many others suitable (Elsilä, 2015). Providing credit card facilities allow of the cash back rewards and low interests rewards, traveling and many other options to create rewards. It provides individuals enough convenience. Saving account services is basically delivers easy and instant opening of accounts and managing the accounts through many online banks processes. Still, there are many other services as well which includes home loans, retirement specific account and many more. These services aim to provide the best user experience that the customers will gain from the Bank of America. (Bankofamerica.com, 2016)

The main factors of production that Bank of America uses are labor, capital, and land. The company makes significant use of the “labor” category, as it requires many employees to keep the company running. The labor at Bank of America can take on a huge variety of job descriptions, such as bank teller, bank manager, auditor, credit analyst, quality assurance, and hundreds more. These positions all work together to ensure the company makes the best decisions when it comes to handling people’s finances, and the company’s own. Bank of America has a large headquarters and many branches spread across the country, which all require significant amounts of “land” capital to exist. The branches and buildings built on the land can all be considered “capital”.

Bank of America is the company I elected to discuss their unique benefits package. Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with more than 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate

Bank of America is a global financial services company headquartered in Charlotte, NC. It is one of the world’s largest financial institutions. Bank of America serves over 53 million customers. They serve these customers through 5,500 retail banking offices. Bank of America is known as a leader in the online banking world. Online alone the company services 30 million active users. The company serves customers in all 50 states and more than 40 countries. The company has numerous different lines of business and employs over 260,000 people. (Bank of America 2012)

It establish as a large national banking sector which is liable to perform its working activity as customer based banks that is providing the financial services within a small regional high as well as customer based bank. Bank of America uses the global operational system that performs careful operations in order to meet the customer demand and personal needs of Us Trust customers. Basically, the culture of this U.S Trust has a cultural that is just like a genteel that deals with the customer on the bases of the personalized, services category that they demand according to their current and requirement. This process divides in to two parts: execution phrase and assessment phrase.

Like most company today Bank of America has become very conflict competent by implying an integrated conflict management system. They have integrated a Code of Conduct in their workplace and have organizations within their company to specifically deal with conflict resolution. Throughout history most major companies, like Bank of America, have changed their views on how they treated their employees to create an efficient work group. Major companies began to realize that conflict is normal and happens naturally and found the urgency to deal with it instead of ignoring situations. With the change of time companies begun to realize that it is cost efficient and extremely productive to rely on a resolution system.

We will prioritize parking space assignments for employees with disabilities, executives and employees who drive company vehicles. We will then allocate our remaining parking spaces on a first-come, first-served basis. Interns and trainees may also receive parking spaces. If you want

In the United States, the bank served 27 million households and two million businesses and processed more checks per day than the Federal Reserve System. Globally, it boasted over 140,000 employees across 190 nations, over $8 billion in annual revenues, $360 billion in deposits, and some $600 billion in assets (see Exhibit 3 for key financial data). Yet, increasing competition ensured that Bank of America could not rest on its laurels. Like many of its successful peers, its growth had been driven by cost reduction and consolidation. From 1985 until 2000, the number of U.S. banks had dwindled from around 14,000 to about 7,000. These still large numbers—especially when compared with there being only six major banks in Canada— reflected the highly competitive nature of the U.S. banking industry as well as its regional focus. Driving consolidation had been a realization that while service was local, products were national. Despite this realization, however, banks continued viewing financial services as commodities, and this bottom-line orientation did not make for an industry rife with innovation. In the estimation of Butler, a senior vice president and industry veteran, “People’s expectations for banks are very low; in fact, they’re used to being

Right now I will be talking about their internal strengths and weaknesses. One of the companies main strengths is how Bank of America is the leading market in the United States. This company has always set the standards for other businesses. Bank of America is also an extremely well planned and thought out product and service innovation corporation. But, Bank of America also has its weaknesses such as deteriorating asset quality, declining net interest margins and weak wholesale banking operations. Every business is going to suffer from some weaknesses because no one is perfect nor going to be

Bank of America is a banking company, meaning that it is in competition with other firms like JPMorgan Chase and Wells Fargo and Company. Regarding market share, Bank of America is one of the leading companies and provides a good base pay and benefits package to its employees. Bank of America sits at a position in the market that allows them to offer great rewards and compensation to its staff members. Additionally, the company understands that the marketing and use of its banking services are essential to its sustained success, so Bank of America makes sure that it is capable of attracting and preserving the most excellent aptitude of employees within those areas. The most beneficial compensation strategy that has worked for Bank of America for so many years is basing pay off of the ability of the employee and recognizing their

An organizational culture can be describe as the shared knowledge between the community with the organization, that shared knowledge include information to which an individuals within this particular society is able to use to function and be in good standing with the other members of the community, a culture includes rules to which individuals existing within the organization bounds abide to it, it exist as to have regulations between how individuals interact with each other, to which it helps the overall wellbeing and increase utilitarianism, culture also includes norms and values, it is a specific set of attitudes, routines with a

Leadership at Commerce Bank knew what it needed to do to be successful in the banking industry. They knew from the get go that they wanted to focus on differentiating themselves from competing banks. They wanted to compete on service rather than price recognizing that their prices weren’t always the best in the industry. Their corporate strategy was set around their customers having a positive, memorable, and consistent experience when they visit any of the Commerce Bank branches. They relied heavily on research to determine why customers left their financial institutions in favor of a competitor and they made it their goal to make Commerce Bank stand out from the rest. Commerce Bank capitalized on what other banks