Wells Fargo’s Cross Selling Strategies

This report analyses tumesces Fargos cross selling strategies in trio aspects. First, the strategic environment, including macro environment and industry analysis. Second, strategic strength and sustainability, which includes resources and competences, criteria for sustainable competitive advantage, organizational knowledge and value chain. The finis aspect is strategic choices and bases of competitive advantage. Strategic environment 1. expectant environment Political factor: In 1999, the Gramm-Leach-Bliley Financial operate modernization Act repealed the Glass-Steagall Act which prohibited a affirm from oblation investment, commercial banking and insurance services. This revolution provided a intelligent 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, obstetrical delivery some(prenominal) money and time. However, there existed huge tech nological and cultural challenges in the combination of banking, insurance and investment. Economic factor: The size of the financial services market in the US was estimated to be $2.5 one million million in the year 2003, which was composed of traditionalisticistic banking, insurance, investment, mortgage and others, and true to increase.

Nevertheless, the competition among the financial services industry is obviously fierce. The competitors of fountainhead Fargos includes not only the mega banks that offered a variety of financial services but also other financial conceptions such as insurance companies, mutual fund companies, mortgage banking companies, traditional banks, etc. Socio-cultural factor: Most customer! s prefer to purchase 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 software program of financial products. However, customers still seek to purchase best diffuse rather...If you privation to get a full essay, order it on our website: OrderEssay.net

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