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Bank Of America Event Tree Essay

1551 Words7 Pages

Bank of America (BOA) is one of the largest financial institutes in the world having several branch locations in 35 countries (Bank of America). BOA states that they are guided by a common purpose to help make financial lives better by connecting clients and communities with the resources they need to be successful. They promote responsible growth and environmental, social, and governance (ESG) leadership. BOA values state that they as an organization will deliver together, act responsibly, recognize the power of their employees, and trust the team across the organization. BOA believes that they must grow and win in the market in order to remain successful. In doing so, the company’s business strategy classifies their customers in three …show more content…

Two-dimensional impact, Pareto diagrams, Failure modes and effects analysis (FEMA), Project Definition Rating Index, Multivariate Statistical Model, Event Tree, Sensitivity analysis, Project Stimulation, Stochastics Simulation, and Addictive model are the names of these tools. In this case, an event tree should be developed. An Event-tree analysis (ETA) is a common tool that presents relationships of cause and possible effects an hazardous event (You & Tonon, 2012). In the case of Hurricane Irma, Financial constraints, structural damage to numerous banking locations are critical impacts that the banks need to consider. Damage to banking finances, such as stocks plummeting as mentioned above, puts constraints on the banks’ ability to lend, invest and other financial expectations they have to fulfill their customers’ needs. A financial constraint to banking ultimately limits the institutes lending ability and export behavior. Stochastic Simulation model is a common tool used when determining the affect that natural disaters impose in the business world (Watson, Carrivick, & Quincy, 2017). Stochastic simulation is a tool that traces the evolution of variables that can change randomly with certain probabilities. Projections should be consistently documented to gain various potential impacts that Hurricanes could impose to the

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