General Environment’s Seven Segments Wells Fargo
Wells Fargo, once the rival of one of the countryҐsees largest financial institutions, Wichita, acquired Wichita after federal officials pressed Wichita for a quick sale before it collapsed in October 2008. Wells Fargo has an extensive history dating back to the mid asses. Since its?¬ inception, Wells Fargo earned and lived out the reputation of dealing rapidly and responsibly with people?¬was money and goods, while offering both bank and express delivery. Today It is ranked as one of the world sees 25 most-respected companies and Is AmericaҐ?¬was 14th most admired company Wells Fargo, n. . ). According to the textbook, the general environment is composed of segments that are external to the firm. Furthermore, these segments affect all industries and the firm?¬was competing in them (Hit, Ireland, Hosking’s, 9th De. , 2011). Additionally, in order for a firm to recognize and evaluate opportunities and threats, It Is important to scan, monitor, forecast, and assess the elements In each segment to determine their effects on the firm. (Hit, Ireland. Hosking’s, 9th De.. 011 It Is clear that Wells Fargo ND its leading officials have considered these segments, which is indicative of the financial giant?¬was large success. The Demographic Segment Wells Fargo?¬was response to rapid changes in the population, age structure, geographic distribution, ethnic mix, and income distribution in our society and globally has been to offer a full range of retirement solutions and complimentary retirement consultations, as well as, services In Spanish. Additionally, Wells Fargo provides financial services throughout the united States, as well as, Internationally.
Leading officials of Wells Fargo recognize trends in the Wells Fargo 3 demographic segment and have readily prepared the company for these changes by maximizing their services which Increases overall marketability. The Economic Segment Although this country has experienced and continues to experience a financial crawls, Well Fargo has risen to the occasion, so to speak. Wells Fargo survived the collapses that many financial institutions suffered. The fact that Wells Fargo offered a deal worth $15 billion to Wichita, which involved no risk to taxpayers, suggest that Wells
Fargo felt no effect of the downturn in the economy (The New York Times, 2008). Although, Wells Fargo has Its competitors, such as USA and Bank Of America, it has garnered tremendous support from the community, which Is comprised of Wichita customers. Wells Fargo offers a host of services, which appeal to loads of people. So, despite the economic constraints that the majority of the people are in, Wells Fargo continues to boast a booming internal economy because of its large number of customers. The Political/Legal Segment Wells Fargo?¬g’s belief is to be socially responsible.
In meeting the requirements and requires. Due to their increasing relationships with other countries, Wells Fargo has implemented a host of services which increases their competitive advantage, such as, international risk management. Leaders at Wells Fargo are aware of global policies, as they deal directly with multiple nations. The Coloratura Segment Wells Fargo 4 Wells Fargo is committed to its customers, thus society as a whole. This commitment goes beyond what most other firms provide. Not only is Wells Fargo committed to society, it is also committed to its people, in other words, the employees.
Wells Fargo has made diversity a competitive advantage, which has made it a better place to work, and give customers and communities outstanding service. Wells Fargo has developed business strategies that have increased the ability to earn more business from various groups and communities, as well as, other countries. Additionally, leaders and team members of Wells Fargo regularly participate in diversity councils for professional development. The Technological Segment Wells Fargo has utilized technology to bolster its popularity, as well as, to make it ore accessible.
Wells Fargo provides online banking for a large portion of its services. Additionally, in order to reach the masses, Wells Fargo has Joined the Backbone community, Youth, Twitter, and their very own blob site. The textbook suggests that technology creates advantages. Wells Fargo has technology team members who are responsible for developing more services for their customers and stockholders utilizing the internet as a resource. The Physical Environment Segment Wells Fargo has been named by Newsweek America?¬was ?¬greenest bank. ?¬0
Wells Fargo has made the commitment to respect and appreciate the environment. Wells Fargo has strengthened their due-diligence of middle market and large corporate customers in environmentally sensitive industries to help ensure that customers do business in an environmentally Wells Fargo 5 responsible way. These methods which have been adopted by Wells Fargo make them leaders in the financial industry and are in alignment with the government?¬was initiative of ?¬cooing green. ?¬0 The Global Segment Wells Fargo is committed to developing relationships globally.
Consequently, leaders have implemented policies on global treasury management which limits their risks and threats. Wells Fargo has developed relationships with countries in Europe, Asia, and South America. In doing so, leaders have increased Wells Fargo?¬was ability to be successful despite our economic times. Consequently, Wells Fargo has earned the accolades and fanfare in the financial industry because of the many commitments that leaders have made. Wells Fargo has taken advantage of the tools that are outlined in great business strategies and have made leaps in the financial industry.