Swot Analysis for Bank of America

In the SWOT analysis for Bank of America one I performed a SWOT analysis for the Bank of America. I assumed the role of a mutual fund manager work for First Investment Inc Investment Inc. With the information I gathered in part one of my paper I made the decision to invest in Bank of America. In part two of these papers I will further explain why I chose to invest in Bank of America. This paper will address the financial health of Bank of America by reviewing the banks income statement, balance sheet, and cash flow (MGT/521 course syllabus). I will also analyze Bank of America’s financial health and compare it against another bank. After I do the comparison I will compare Bank of America technological advantages, or address any deficiencies they may have. This paper will also address the effects of globalization on the Bank of America and I will conduct a benchmarking analysis that will include the best practices of Bank of America, operational processes and procedures for Bank of America and products or services for Bank of America.

Once regarded as one of the top banks in the banking industry Bank of America is on the decline. According to infoplease on March 31, 2010 Bank of America was ranked number one as one of the largest banks in the United States. Today they are second to JPMorgan Chase and they are in worst shape compared to the other large banks. Bank of America has made several faulty decisions that have cause the banks decline in the banking industry. Kenneth Lewis the CEO of Nations Bank acquired Bank of America after the acquisition Bank of America went on to acquire FleetBoston Financial for $48 billion and in 2005 Bank of America acquired Maryland Bank, National Association (MBNA). The acquisition of Maryland Bank, National Association positioned Bank of America at the top of the United States credit card business (New York Times 2012).

First Investment Inc has come to pinpointed how Kenneth Lewis the CEO of Bank of America went