Running head: BANK OF AMERICA EXTERNAL ENVIRONMENTS
Bank of America – External Environments
Alan Bahadori
Professor Turner
Strayer University April 29th 2016

Bank of America – External Environments
Bank of America is an industry leader in the financial and banking marketplace. They are a multinational corporation that is the second largest bank holding company in the United States by assets. The extent of Bank of Americas reach is that of a global scale. Bank of America have many branches of business from banking, mortgages, loans, retail sales, wealth management, commercial business services and even global sports sponsorship. The ability for Bank of America to continue to grow in terms of global brand, market share and financial banking both business and personal is by continued evaluation of the company’s strategy regarding competition, as well as their internal and external environment.
Evaluation of a company’s external environment is paramount to the future success of the business. A company must always be sure that it is understood on what factors they face within their course of business. To successfully deal with uncertainty and achieve strategic competitiveness firms must be aware and understand these segments and how they impact the corporation either positive or negative. The general environment as stated within the course lecture states that it is grouped into seven segments of Demographic, Economic, Political, Sociocultural, Technological, Global & Physical. Based on the evaluation of Bank of America as a corporation shows that they as a corporation would rank highest in the Demographic & Economic market segment. As stated in the course text and lecture notes the demographic segment is a way for companies to review their influence in the marketplace based on population, age, geographic distribution, ethnicity and income