Money for the masses (Bank of America)
Money for the masses (Bank of America)
Light L. Forbes, 1 October 2007, Vol. 180 No. 6, Start page: 77, No. of pages: 5
Purpose – spells out the Bank of America’s strategy for success. Design/methodology/approach – examines how the Bank of America grew from being an obscure lender to textile mills to being the second-largest US bank. Puts forward how instead of closing branches and relying on online banking, it chose to blanket America with its branches; identifies those smaller banks that it acquired in the process. Suggests that it has taken sound financial decisions and escaped the recent financial problems of other financial institutions. Provides examples of the quality customer service offered by the bank; draws attention to its low operating costs; highlights its focus on making its existing branches more productive. Traces the bank’s history; profiles Kenneth D. Lewis, Bank of America’s chief executive. Provides BofA financial information; presents BofA’s branch numbers, new checking accounts, stages covered and amount of assets.Originality/value –outlines BofA’s focus on customer satisfaction.ISSN: 0015-6914Reference: 36BB130
Keywords: Banking, Corporate strategy, Customer services quality,Financial performance, Institutions, Investors
