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Porter's Five Forces Bank Of America

675 Words3 Pages

I am currently employed as a Business Support Specialist at Bank of America Triad Greensboro, NC location. Bank of America is one of the leading financial institutions in the World and one of the top two banks in the United States. Headquarter in Charlotte, NC, the company operates in the Americas, Europe, Asia Pacific, the Middle East and Africa. It employs around 208,000 individuals. It serves large corporations and governments, institutional investors, small and middle market businesses and individual consumers offering the following products and services consumer, corporate, private and investment banking. Mortgage loans, credit cards, insurance, and wealth management via Merrill Lynch. Bank of America strives to make financial lives better through the power of connection, and this purpose is fulfilled through a strategy of responsible growth, which includes a focus on environment, social and governance leadership.
The following factors that most affect Bank of America’s current operations are as follow: …show more content…

They focus on investing in communities, providing opportunities for the disadvantaged, and supporting social, environmental, and ethical agendas. Also taking into account their social, cultural, ecological and economic sustainability. However, banks consider social and economic sustainability when making financial decisions. Banks care about making a profit, but equally for promoting human and environmental well-being. It is the triple principle that they follow when they decide whom to lend money, and for what purpose. Currently, social banks are becoming cultural power as they also include the concepts of humane and humanist in financial activities. Social banks may also provide important lessons for the banking and financial sector to avoid further crises in the

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