Running head: PROBLEM SOLUTION: USA WORLD BANK
Problem Solution: USA World Bank
Ray Pena
University of Phoenix
Problem Solution: USA World Bank
USA World Bank is a bank that provides financial services for its customers both domestically and internationally. As a result, USA World Bank is constantly challenged to develop fresh, innovative ideas and products to serve its customers’ needs. Some innovations fail and some enable USA World Bank to stay on top of its competitors and continue to expand its market shares. With market shares and profits being down for USA World Bank, the company is attempting to develop a product that will appeal to its customers as well as attract new customers.
The company’s Board of Directors has expressed a desire to increase the company global presence in addition to the above. Using statistical data is mainstay of their decision-making process that aids in the overall decision to develop a product. Additionally, they also use outsourcing to obtain secondary information that they do not have or may consider in their procedures. This paper will develop a solution for USA World Bank focusing on research and statistics covered in class MBA 510 “Managerial Decision Making”.
Situation Analysis
Issue and Opportunity Identification
According to the University of Phoenix Week One Scenario (2007), USA World Bank is a major bank that operates on both domestic and international markets. In order to continue to be a leader in the industry the bank is looking into developing new products and services for its customers. The problem that UWB has is that the Board of Directors approves only one new product a year, management has the dilemma of which product to introduce to the customers, compounding this is whether or not the new product should be for the small business owners or for consumers. In order to stay on top as an industry leader, UWB wants to expand its product line to attract and maintain consumer and small...