Wells Fargo’s Cross Selling Strategies

This report analyses tumesces Fargos cross selling strategies in threesome aspects. First, the strategic environment, including macro environment and industry analysis. Second, strategic readiness and sustainability, which includes resources and competences, criteria for sustainable competitive advantage, organizational knowledge and value chain. The exit aspect is strategic choices and bases of competitive advantage. Strategic environment 1. volumed environment Political factor: In 1999, the Gramm-Leach-Bliley Financial operate modernization Act repealed the Glass-Steagall Act which prohibited a aver from oblation investment, commercial banking and insurance services. This revolution provided a good seat for the diversified fiscal companies as well as the organization of the fiscal services industry. The Act promoted the one-stop monetary solutions to the customers, redeeming(a) some(prenominal) money and time. However, there existed huge technological and cultural challenges in the combination of banking, insurance and investment. Economic factor: The size of the monetary services market in the US was estimated to be $2.5 gazillion in the year 2003, which was composed of handed-downistic banking, insurance, investment, mortgage and others, and certain to increase.

Nevertheless, the competition among the monetary services industry is obviously fierce. The competitors of hygienic Fargos includes not only the mega banks that offered a variety of financial services but also other financial fundaments such as insurance companies, mutual fund companies, mortgage banking companies, traditional banks, etc. Socio-cultural factor: M ost customers prefer to purchase well-nigh ! of their financial products and service from a single financial institution repayable to convenient or economical causes. Moreover, the customers are attracted by the factors such as easy access to the customer service, well-designed box of financial products. However, customers still seek to purchase best regard rather...If you privation to get a full essay, order it on our website: OrderEssay.net

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