ipl-logo

JP Morgan Chase Paper

2307 Words10 Pages

An In Depth look into JP Morgan Chase
Garrett Meaney
Palm Beach State College

An In Depth look into JP Morgan Chase & Co.
Introduction
To begin with, we all have a certain bank we go to and we for the most part stay loyal to that bank most of our lives. Many of us stay loyal to these banks and yet we have no idea how they are run on a daily basis. As citizens we tend to just jump at which bank is offering the best deal instead of evaluating their company’s principles and business ethics. During this paper we will divulge into the business foundations, operations, and history of one of the largest financial institutions in America, JP Morgan Chase. JP Morgan Chase have had a long withstanding and successful time in the …show more content…

According to Chuck Williams (pg. 168, 2014), “planning is choosing a goal and developing a method or strategy to achieve that goal”. JP Morgan Chase is one of the leading financial institutions in the United States and they did not get there by not having a successful plan or setting proper goals for themselves. One of JP Morgan’s key concepts that goes into their planning is having a strong financial discipline. According to JP Morgan’s website (JP Morgan Chase, 2014) they say they must consider walking away from business where they cannot see a fair return over the cycle. This may slow short-term growth, but it underscores their commitment to grow in a sustainable way. This concept to me fits into planning because as a company they are committed to growing consistently and have instilled that into their business principles to walk away from business that does give them a fair return. Also, JP Morgan looks to reach their goals they have set by always being innovative and being on the cutting edge of the technology in their field. According to the JP Morgan website (JP Morgan Chase, 2014) they believe in relentlessly focus on integrating and upgrading technology, streamlining and standardizing their operations, all of which help to push decision-making and authority to the field. Since they plan staying relevant in their field JP Morgan knows that staying on top of the ever changing …show more content…

According to Chuck Williams (pg. 666, 2013) control is defined as, “a regulatory process of establishing standards to reach organizational goals, comparing actual reports against the standards, and taking necessary action to correct any issues if needed”. In order for JP Morgan to be able to set standards and goals it must see what its competitors are doing and also what their customers are wanting the business to improve on. One major standard that JP Morgan has set is that the company would like to double the net income over the next 5 years (Business Insider, n.d.). In order to plan for these goals a company has set they must develop a budgeting process to allocate the proper assets to achieve their set standards. A suggestion by Peter Hancock, JP Morgan Chase former Chief Financial Officer, stated that he believed the risk managers should spend more time in developing enterprise-wide risk systems that will allow top managers to make tough business decisions (Christopher, Navroz & Gallagher, 2003). Tough business decisions that arise from the budgeting process is the possibility of slashing jobs because of budget cuts for that annual year. An example of this is in the year of 2013 when JP Morgan Chase had to cut 4,000 jobs and also reduce cost by $1 billion dollars (CNBC, 2013). Also, JP Morgan's cost-saving efforts come at a time when its key rivals are also moving to adjust to a

Show More
Related
923 Words | 4 Pages

is one of the largest financial institutions in the United States and the world’s largest bank by market capitalization. With a presence in over 100 countries, JP Morgan is truly a world-wide business. From an external standpoint, Chase Bank has a strong brand name that is recognizable across the country which has helped it to attract and retain customers. The company has a diversified business model, which allows it to generate revenue from multiple sources, including investment banking, asset management, retail banking, and commercial banking. Furthermore, Chase Bank’s internal operations offers a variety of products and services, including checking and savings accounts, credit cards, investments, mortgages, and more.

Read More
414 Words | 2 Pages

Back ground of organization JPMorgan Chase & Co has one of the longest histories in the financial banking institutions in the United States. There are a multitude of banking Firms that are associated with the organization to include but is not limited to: J.P. Morgan & Co., The Chase Manhattan Bank, Bank One, Manufacturers Hanover Trust Co., Chemical Bank, The First National Bank of Chicago, National Bank of Detroit, The Bear Stearns Companies Inc., Robert Fleming Holdings, and the Cazenove Group just to name a few of the more reputable organizations. Each of the banking firms, in its own time, was or is closely tied to innovations in finance and the growth of the U.S. and global economies. History of Organization JP Morgan Chase traces its roots back to 1799 in New York City as

Read More
1801 Words | 8 Pages

He took the reins of JPMorgan Chase with this view of how to best run the financial services giant and quickly manifested it into the firm’s culture and the way he managed the business. Part of “doing the right thing”, to Dimon, is being direct and transparent. In the financial services world, this transparency is rare, but for a conglomerate like JPMorgan Chase, transparency was critically important in order for proper efficiencies and synergies between business units to be reached. This openness enabled collaboration between business units, and Dimon’s inability to tell anything but the blunt truth garnered him the respect and uncommon loyalty of his colleagues and

Read More
818 Words | 4 Pages

Equally, the firm also offers credit card services, personal loans, and portfolio management. The CEO of the firm, Jamie Dimon, who leads the organization to achieve several goals and objectives since he took the office in March 2000. JP Morgan Chase implements a differentiation strategy to apply and execute the method to support its operations short-term and long-term objectives. Likewise, the firm?s mission emphasizes a strong management that strive for the best outcome in order to benefit for investors, stakeholders and consumers for the next decades.

Read More
1166 Words | 5 Pages

1 THE LIFE OF J.P. MORGAN: BANK TITAN The Life of J.P. Morgan: Bank Titan Brooklyn M. Ward Bethel University U.S. History II Essay 1, Unit 3 Abstract In this essay, I will break down the life of the great J.P. Morgan.

Read More
503 Words | 3 Pages

In this paper I chose Bank of America Corporation as my investment banking house. Bank of America is one of the largest multinational financial and banking service companies. Bank of America offers a large array of banking services. Some of the services include banking investments, mortgages, trading, cards and brokerages. Bank of America is operating in 40 countries across the world.

Read More
709 Words | 3 Pages

JPMorgan Chase Bank has faced several lawsuits in recent years. They have been hit with cases concerning fraudulent misrepresentation, bribery, and many things in between. By studying the accusations the company has faced, one receives a better understanding of who is really handling their money. An act of fraudulent misrepresentation cost JPMorgan the fine of a lifetime.

Read More
356 Words | 2 Pages

Currently, the most important thing for Bank of Hawaii is creating and offering the most “cutting edge financial services.” Bank of Hawaii’s history of supporting a service industry has enabled it to ride out major market recessions and declines in a very positive manner. During the 20th century, BOH saw a need to diversify its assets past its home roots in the Islands. Part of this diversification was to take a place in the international banking stage. Hawaii is at a prime location between both mainland Asia and the US, which allows the bank to naturally offer services to facilitate trade and business relations between Asia and the US.

Read More
1112 Words | 5 Pages

Business Planning Activity – Notes Only Document (Please answer each question thoroughly and retain a copy of this information for your records) 1. Describe your vision for building your practice at Edward Jones. How do you plan to add value to the clients and communities you will serve? My vision for building my practice at Edward Jones is to provide the best financial service and knowledge to those in my community.

Read More
653 Words | 3 Pages

America’s largest bank JP Morgan Chase has grown from $1.3 trillion in assets to almost $2 trillion today. Has this growth benefit the American public? No. Consumer confidence is currently at a 15 month low. The Consumer Price Index is also at year lows as well.

Read More
286 Words | 2 Pages

During the 1800s-1900s Bank of Montreal played a critical role in the building of the nation, its financial systems, and the prosperity of its people.   Celebrating its 200th year of operation Bank of Montreal has grown and expanded its financial resources, locally and globally. Bank of Montreal has a global presence in several

Read More
1910 Words | 8 Pages

Barclays has seen a change of management more in the last five years as compared to its competitors. In this aspect of management change, it is hard to grow a culture in an organization. Each manager that comes wants to leave a legacy and will, therefore, employ their strategies overtime they are appointed instead of building on existing

Read More
1351 Words | 6 Pages

Philadelphia is often known as being the founding place of our country, but it’s seldom known that Philadelphia is also the birthplace for American finance. Philadelphia played a major role in the evolution of America’s financial integration with being the first home to the Bank of the United States, the U.S. Mint, an active securities exchange, and several banks and insurance companies. Several financial innovations and groups of innovations first emerged in Philadelphia’s center city, many of which persist to the present even as financers move their businesses to New York. In modern times, Philadelphia’s center city is still a flourishing finance hub with housing eighteen commercial banks, large accounting firms, and various investment and

Read More
869 Words | 4 Pages

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.

Read More
850 Words | 4 Pages

In this particular article, we will discuss about the Bank of America corporate hierarchy that is one of the most important factors responsible for the phenomenal growth and prosperity of the organization. Bank of America exhibits a divisional corporate hierarchy. The divisional hierarchy is prevalent in the different service sections of the bank such as the retail section, commercial section, investing section and the asset management section. According to the divisional organizational hierarchy, the large sections of the business enterprise are segregated into semi-autonomous bodies.

Read More

More about JP Morgan Chase Paper

Related Topics

Open Document