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AAA & ACG Overview And New Venture

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Introduction Strategic assessment is needed to evaluate the quality of a firm’s strategy. There are many different approaches to evaluating a firm’s strategy. The purpose of this paper is to perform a strategic assessment on American Automobile Association (AAA) and the Auto Club Group, one of AAA clubs, growth into the banking sector. The process includes introducing the firm and its industry, the firm’s interesting action and/or change, comparison to a firm within the same industry and to the industry itself, and the final assessment of the company’s strategy. AAA & ACG Overview & New Venture American Automobile Association (AAA) is pronounced “triple A” and it is known as the largest motor club and travel organization. The company was first founded for “the purpose of lobbying for driver and passenger rights, fair laws and safer vehicles” and now has “broadened its horizons to include all types of travel-related services, as well as offer a variety of insurance and financial products and services” (www.aaa.com). The Auto Club Group (ACG) is one of AAA clubs, and its CEO, Joe Richardson, Jr., …show more content…

It is a good time for insurance companies to enter into banking with large U.S. banks being constrained by post-2008 rules that make it tougher for them to extend loans. This allows the insurance companies to grasp more of the market share (Basak, 2016). Furthermore, insurance companies have the benefit of being shadow banks, which are firms that act like banks without being regulated as a bank (Basak, 2016). In 2013, AAA was ranked 18th based on market share with having 0.86% market share (Danise, 2015). Overall, at this time the evidence shows that AAA is going in the right direction along with the rest of the industry and striving to gain more of the market

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Introduction: The financial crises in recent year have shown us the weakness of the regulatory framework among banks and it shows the gap that we could fill to improve bank’s risk management practices. The crises have show us that a resilient banking system is necessary for archiving a sustainable economic growth, we can take Canada for example, while 12 bank in US bankrupted since 1840, no bank in Canada experience the financial difficulty during the financial crises1. This is because of its high capital requirements and leverage ratio restrictions, these regulations have keep Canada’s banking system save from the financial crises and keep it in a sustainable economic development.

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A ‘’Shadow banking system’’ in recent decades developed and involved a variety of financial firms,securities and markets. Funding long-term loans and securities using short-term liabilities that are assumed to be highly liquid and safe were core features of banking which were replicated by the system.in the crisis,the rigourously regulated shadow banking system was prone to panics and all together proved to be a major source of credit-market disruption. Basing oversight on the function of the firm and it’s risk to the economy is one of Dodd-Frank Wall Street Reform and Consumper Protection Act of 2010’s aim to remove gaps in regulation. An

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Introduction Bank of America is currently one of the biggest banks in America. The bank was founded in 1904 in under the name Bank of Italy and continued to expand and merge into the Bank of America behemoth (Nolen, 2008). As of 2016, Bank of America has approximately 15,900 ATMs and serves 46 million consumer and small business relationships (Bank of America, 2016). Bank of America handles millions and millions of dollars daily in America and internationally. And so as large player in the banking industry protecting consumers and investments is paramount.

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Firstly, the Boston Consulting Group (BCG) matrix that concentrate the market position of different products. Secondly, the experience curve and the Profit Impact of Market Strategies model which identified a number of strategic variables. Furthermore, competitive advantages model (Porter, 1985) which focus on five different forces in environment of organization, but suit with only stable market. Generic strategy was developed strategies under this school, especially it can identify position in the market. Advantages: -Provide content in a systematic way to the existing way of looking at strategy -Particularly useful in early stage of strategy development, when date is analyzed -This school emphasis on analysis and calculation can be a very strong support to the strategy development process -This strategy suit with big businesses or organization which have ability for operate effective market research in the environment

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