Introduction
The USA World Bank is a hypothetical organization that provides a focus for a discussion of data collection, data analysis, data evaluation, and decision-making procedures associated with new product development and introduction in retail banking. Two real banks that experience similar problems to the hypothetical problems of the USA World Bank were reviewed to provide bases of comparison. These banks are (a) Wachovia Bank and (b) Wells Fargo Bank.
Concept
Wachovia Bank (2008) says that its vision is “to be the best, most trusted and admired financial services company”. (p. 1). The bank then proceeds to itemize their institutional values and to explain their perception of each of these values. Wells Fargo Bank (2008) says their vision is “to satisfy all our customers’ financial needs, help them succeed financially, be the premier provider of financial services in every one of our markets, and be known as one of America’s great companies” (p. 1).
An appropriate vision statement for the USA World Bank would include elements of the vision statements of both Wachovia Bank and Wells Fargo Bank. The suggested visions statement for the USA World Bank is “to be a trusted and effective financial services provider for customers in consumer banking, small business banking,great companies” (p. 1).
An appropriate vision statement for the USA World Bank would include elements of the vision statements of both Wachovia Bank and Wells Fargo Bank. The suggested visions statement for the USA World Bank is “to be a trusted and effective financial services provider for customers in consumer banking, small business banking, corporate banking, and investing”.
Manager-Research Relationship
At Wachovia Bank and at Wells Fargo Bank, research activities are conducted by departments that are separate from the operating departments. At the USA World Bank (as the situation is described in the case), research is performed under the direction and supervision of the...