Bank of America Part III Essay Example | Topics and Well Written Essays - 3250 words

Bank of America Part III - Essay Example This research aims to evaluate and present two major objectives of Bank of America Corporation. There are first, to rebalance as well as realign the organization so as to provide their clients with the most exclusive and finest financial services, and second, to reinforce their balance sheet as well as capital situation to generate the appropriate conditions for continuing shareholder value augmentation. The vision of BAC is to develop into the best financial services organization in the world. The management of BAC believes that the accomplishment of this vision can be assessed by their clients, their human resources and their shareholders. BAC’s management considers that they would succeed in attaining the vision of the organization when they would be able to preserve the faith and confidence of their clients, customers, staffs, shareholders as well as policymakers. The core principals of Bank of America Corporation are to bring value for their shareholders in addition to th eir customers and clients, retain faith and confidence in their team, hold on to the power of their human resources, endorse opportunities and act sensibly. BAC caters the financial needs of three main groups of customers, viz. individual consumers, companies and institutional investors. The management of BAC recognizes that their decisions and measures can impact the lives of many individuals and hence they consider themselves liable for regimented risk management and for operating in the appropriate way. With the dynamically changing economic and market conditions, the management of BAC is attempting to bring about a change in their organizational culture. They had moved from acquiring franchise to the efficient operation and management of the franchise. BAC was earlier positioned as a commercial bank focused on the US; however they had repositioned