Running head: PROBLEM SOLUTION: USA WORLD BANK
Problem Solution: USA World Bank
University of Phoenix
Problem Solution: USA World Bank
USA World Bank is a major bank with branches that span across the United States and has several business ventures around the world. The bank has products that satisfy their large consumer and small business base of customers, however, with any organization, to remain competitive in the market, must develop new products that are attractive to their existing customer base as well as new customers which will eventually grow their market share. USA Bank has a history of releasing only one major product a year based on budget constraints. Both the consumer and small business divisions of the organization are working on parallel teams to develop their new product for potential launch in the coming year. They each have conducted consumer feedback research to support their respective products which will be presented to the board for possible approval. Some questions were raised regarding the validity of the data, as well as conclusions based on the collected data which supports the individual products. After further analysis this data will need to be re-tested or re-calculated using standard statistical concepts, in order to make good business decisions. During the collection process, it was identified that the population sampled may not have been through a random sampling which would skew the data resulting in possibly releasing a new product that is not attractive to the bank's customer base. Both sides must come together to figure out the best possible product for the public instead of competing the launch of their individual products.
Situation Analysis
Issue and Opportunity Identification
The Instant Reward Card is the new product developed by the team focused on the consumer sector. Specific issues regarding the data are questioned and must be reexamined for validity. The main question regarding the data is...