Jp Morgan Chase Essay

JPMorgan Chase is an established multinational financial service companies that operates in the United States. The company offers a wide variety of services including personal banking, international banking, and real estate banking. J.P. Morgan Chase has been in business since 2000 and has accumulated over $3.3B in profit in the last 3 years. The company employs approximately 230,000 people and offers many career opportunities, including human resources, marketing, asset management, and real estate finance. Now named JPMorgan Chase, the company first began in 1799 and was called “The Manhattan Company.” In 1901, it became the first billion dollar corporation and in 1915 the company conducted the biggest foreign loan ever recorded for $500 million.

The competitive environment pushes the company to offer the best products and services so that customers will choose Chase over other companies. The global environment pushes the company to be socially responsible and address issues going on within societies and communities. The technological environment provides many positive changes to the company. Technological changes provide new products and services such as online banking which ultimately provide more revenue for the company. The economic environment affects this company the most. Banks and other financial services’ growth depends on the state of the economy. When businesses and the economy are doing well, banks do well since more customers are depositing and withdrawing money. Conversely, when the economy undergoes a recession, banks do not do as well since less money is flowing throughout the economy. Currently, the United States economy is in the expansion stage of the business cycle. This is desired by many banks since the expansion stage is when small companies begin to grow and expand their businesses. As these businesses gain more profit, banks do as well since there is more cashflow. Additionally, in the expansion stage stocks tend to increase in price. In regards to politics, the firm currently is not majorly involved with the government. It is evident that our economy is doing well through the GDP, amount of production, as well as the average income. The United States GDP has grown by 3.1% and the average income has increased by 4.1%. Industrial production in the United States has rose from 0.2% to 0.3%. When all of these factors are rising, it shows that businesses doing well and overall the economy has more cash