Bank of America Corporation Research Paper Example | Topics and Well Written Essays - 26000 words

Bank of America Corporation - Research Paper Example For this report, Bank of America might be alluded to as â€Å"BofA† and other distinguishing names for the monetary organization. Bank of America and its auxiliaries serves singular customers, little and center market organizations, huge companies, and governments. The firm offers a full scope of banking, contributing, resource the board, and other money related and chance administration items and administrations. Bank of America offers types of assistance through its auxiliaries (banks) and nonbanking auxiliaries around the globe through six essential business sections: Deposits, Global Card Services, Home Loans and Insurance, Global Commercial Banking, Global Banking and Markets (GBAM), and Global Wealth and Investment Management (GWIM). As of December 31, 2010 Bank of America had roughly $2.3 trillion in resources and around 288,000 full-time workers. The bank serves around 57 million customers in 5,900 banks, 18,000 ATMs, a system of national call communities, and through on the web and portable financial stages. Bank of America has over 80% of the residential financial market and works in excess of 40 nations around the globe. On January 1, 2009, Bank of America gained Merrill Lynch and Co., Inc. (Merrill Lynch) subsequently the Bank of America got one of the biggest riches the board organizations on the planet with about 17,000 riches counsels, an extra 3,000 speculation guides, and more than $2.2 trillion in customer resources. The organization has the No. 1 piece of the overall industry of U.S. retail stores, is the No. 1 backer of check cards in the United States, No. 2 in Visa items in United States, and the No. 1 Visa guarantor in Europe. Bank of America Home Loans is the No. 1 private home loan servicer and the No. 2 private home loan advance originator in the United States with 5,300 home loan advance officials across the country. Strategic Vision Mission Statement: The Mission Statement is the essential way of thinking and rules that an org anization is based on. The Statement for the most part mirrors the qualities and convictions of the founder(s) of the organization. After some time the establishing proclamation may change because of advancement of the organization, anyway the substance of the first qualities despite everything saturate through the current explanation of crucial the organization. Discovering Bank of America’s statement of purpose was defaced in various non-expressive explanations, on a very basic level the expressed crucial to be the â€Å"World’s Most Admired Company† (Bank of America â€Å"Executive Summary 1). Combined with the way of thinking which states â€Å" We accept basically that it is the activity of people cooperating that construct solid networks and that business has a commitment to help those demonstrations in the networks it serves† the bank is depicting itself and its motivation for existing (Bank of America â€Å"Executive Summary 2). Remarkably, anot her announcement reflects Bank of America’s duty to buyers and recognizes the obligation of being strong of client needs and objectives. Our main goal is to give you an extraordinary part/Customer advantage that causes you meet your association's destinations. We make a solid effort to comprehend your targets, at that point make a program that can assist you with meeting them. Regardless of whether you need to draw in new individuals, hold existing ones, drive gradual deals, or strengthen part or brand dependability, we will work with you to assist you with accomplishing those objectives. (Bank of America â€Å"Executive Summary† 1) The bank’s reasoning is: The organization motto is â€Å"Changing the Way You Do Business† (Bank of America â€Å"Executive Summary 2). Hypothetically, the fundamental inspiration of the company’s can be found in the way of thinking. The trademark is an away from of