...Film Analysis Paper HU-489-001 5/4/2011 Fargo, and the role of Setting Fargo, a dark and somewhat humorous crime movie by the Coen Brothers delves into themes of isolation, morality, and greed. And throughout the film, a very prominent role is played by the setting. The Coen brothers make sure that no one misses where the story takes place – small town upper Midwest in the middle of a frigid winter. The film makes extensive use of the frozen landscape, the characterization of rural Midwesterners, and realistic depiction of the events of the story in order to emphasize these themes. There is a great deal of contrast in this movie between moral and amoral characters as well as contrast between what the viewer expects from such dark subject matter and how it is in fact presented. The very first shot of the film is of a barren grey snowscape as a car in the distance slowly approaches. The setting is immediately present and it sets up a feeling of a cold and emotionless environment. This car appears very small on the screen and slowly approaches the camera. So very early this feeling of isolation is brought into the film. The car appears small and alone in a desolate world. It gradually moves toward the screen as we are introduced to the beginning of the story. This is actually the main antagonist, Jerry Lundegaard as he tows a new car to make a deal with two criminals to kidnap his wife. This cold landscape represents well the dark intentions of this character. As the movie...
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...The industry environment that Wells Fargo is a part of is made up of threats of new entrants, supplier power, buyer power, and substitute products. When it comes to the threat of new entrants in the financial industry there is no threat for Wells Fargo. The financial industry requires a lot of capital and trust. Currently none of the industry has a lot of trust but they do have capital to make investments and decisions that a new entrant to the industry does not have. There is an extremely high entry barrier in the financial industry. When it comes to supplier power, the supplier concentration is mainly related to capital in the financial industry. With capital being difficult to obtain, the suppliers do hold a lot of power over the financial industry. One of Wells Fargo’s advantages is that that they hold a large amount of capital and have the ability to invest and keep mortgages on their own portfolio. Buyer power is high in the financial industry. The financial services industry is a service based industry, meaning if they do not please the consumer then they lose the customer. The products available by the financial industry are very similar. Although Wells Fargo puts a lot of effort into differentiating their product, the customer will go elsewhere if they feel as though they are not treated right. . Rivalry among existing firms exists between Wells Fargo, and the three following competitors: US Bancorp, Bank of America and Citigroup, this being said there is a...
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...and be known as one of America’s great companies.” In other words, to gain a competitive advantage over various banking institutions, Wells Fargo wants to be the “one stop” shop of banking. Changes in Strategy: In order to become one of the largest, most profitable banks, Wells Fargo had “out local the nationals and out national the locals.” Through a combination of mergers, Wells Fargo has transformed into its vision of being a “one stop” shop of banks. Adopting their cross-selling strategy has given them an advantage of knowing more about the customers as they sell more to them. They have figured out that the more products customers have with them, the better value the customers receive and the more loyal they are. Loyalty leads to a longer stay and more opportunities to meet financial needs. The cross-selling strategy reinvented how financial services were combined and sold to customers. Core Competencies: * Simplified product set allows Wells Fargo to only trade what is necessary to serve their clients. * Disciplined governance provides robust oversight functions performed by independent teams within Wholesale and at corporate level. * Segregated credit culture is the decision to extend credit to customers takes place in major lending groups, while fee based businesses are housed within Wells Fargo. Internal Environment Scan Strengths * 19th on the Fortune 500 list in 2010 * Among the world’s most 50 respected companies in...
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...1. What were the driving forces that lead Wells Fargo OFS to redesign their strategy and processes? Wells Fargo launched its online financial services much ahead of their competitors and with the astonishing response of the growing customer base, they enhanced the online services with all major banking services like reviewing their accounts and balances, bill payments etc. The OFS primarily focused on the maintaining the high attrition rate of online customers and provide all their customer with a low cost service medium. The OFS group recovered their cost by charging other department within the bank depending on the activity of the customer after logging into the portal. However due to this main the purpose of providing a low cost media to the customer was being lost in the need of generating OFS group revenue. Because of this the OFS had reached a point where the profits and costs were equal. Wells Fargo’s traditional approach to measure performance and strategies using the financial metrics led to poor decision making while the online banking needed a well-planned long term goal as it was one of the driving factor of the business in the coming years. Also, because of the rapidly changing technological trends on a daily basis in the internet media, the OFS had to be upstream in their approach to keep with the latest technologies. This involved new competitive threats and meeting the customer demands became a challenge due to the varied customer base in the online banking...
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...STRATEGIC MANAGEMENT CSEB3101 GROUP 1 WELLS FARGO CORPORATION PRESENTED BY : AMANINA BT MOHAMMAD ASRI NORASYIDAH BT RAMLI ZURHANIM BT AMER AZIDEN PRESENTED TO : DR. TEY LIAN SENG CEB 120002 CEB 120044 CEB 120070 INTRODUCTION • Wells Fargo is a stable and long term company providing financial products such as banking, mortgages, credit cards, insurance, and investment services to consumers and business client. • Wells Fargo has been in business since 1852. • Their first office opened in San Francisco during the gold rush. • The stage coach was used to transport gold and other valuables. • Wells Fargo helped establish the Great Overland Mail service continuing to use the stagecoach but also adding steam ship, rail road, pony rider, and telegraph. • From their humble beginnings they expanded from California to the rest of the nation. CORE PRODUCT BANKING MORTGAGE CREDIT INSURANCE INVESTMENTS • • • • • • Online ATM Business Wholesale Government and Institutional • • Home equity Mortgage • • • Debit & consumer credit card • Personal credit management • Auto dealer service Education financial service • Well Fargo insurance Rural community insurance service • • • • • Retail brokerage Wealth management Retirement Norwest equity & venture partners Lowry hill Capital markets VISION “We want to satisfy all our customers’ financial needs and help them succeed financially” MISSION “Our Product: SERVICE. Our value-added: FINANCIAL ADVICE...
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...Wells Fargo History in Portland Financial Heartland Before banking, Wells Fargo was simply the merging of two rival transportation companies in the 1850’s. In order to serve the West’s demand for faster communication, Henry Wells and William Fargo built a Wells, Fargo & Co. location in 1882 in Portland, Oregon. Portland’s location at the joining of the Willamette and Columbia established it as the shipping center for the Pacific Northwest and an attraction for Wells Fargo’s express business. The California Gold Rush influenced the company to offer banking in buying gold and selling paper bank drafts, which were just as good as gold, with rapid delivery across the United State. This was included with the diverse services the company had already had, such as general forwarding and commissions and freight series, After discovery of gold in the Boise Basin, precious metals came down the Columbia River to Wells Fargo’s banking and examine office in Portland. This caused more offices to open in new cities all over the United States. In 1863 alone, Wells Fargo’s office in Portland handled over 200,000 ounces of gold. A year later, offices were added in Salem and Eugene, along with more express offices in Portland. Wells Fargo’s reputation of trust built in the 1850’s during the boom and bust of the economy. The bank went to great lengths, coming through for customers and providing responsible and swift services. In 1868 the Columbia River froze in the...
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...Wells Fargo Corporation Industry Analysis Wells Fargo is a $1.3 trillion diversified financial services company providing banking, insurance, trust and investments, mortgage banking, investment banking, brokerage and consumer finance through retail banking stores, the internet, worldwide. Wells Fargo has a strong foundation of corporate culture that is embedded in the vision. . It focuses on every aspect of the corporation’s stakeholders: team members, customers, communities, and shareholders. It focuses on how employees are able to adhere to the highest standard of efficient and ethical business practices. Wells Fargo strives to be number-one financial services provider in each of their markets. What Wells Fargo lacks is the future vision of the company’s operations. The revised mission statement of Wells Fargo Corporation is as followed: We are a bank that focuses on providing services that satisfy customer’s financial knowledge by providing our hard-working people. We will be the change of how financial institutions can play efficient roles in the community and individual’s businesses. Strategic Issues that Wells Fargo face is to whether it will focus on becoming a national/global bank or a local coast-to-coast bank that will deal with the local communities. These two business types can be harmful to the strategic implementation because of the questions of how it can market two banking segments and how it can compete with different types of banks: local and national/global...
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...The history of the Company Wells Fargo & Company is an American multinational financial services company headquartered in San Francisco, California, with central offices throughout the country. It is the world's second largest bank by market capitalization and the third largest bank in the U.S. by total assets. In July 2015, Wells Fargo turn out to be the world's largest bank by market capitalization, edging past ICBC, before slipping behind Chase in September 2016. Wells Fargo beat Citigroup Inc. and become the third-largest U.S. bank by assets at the end of 2015. Wells Fargo is the second-largest bank in deposits, home mortgage servicing, and debit cards. In February 2014, Wells Fargo was named the world's most valuable bank brand for...
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...D Diversity Analysis of Wells Fargo MGMT 360-51 Team - Multiplicity Shannon Willy Darren Cattnach Jeannine Petersen Edward Davis Cindy Sellner Metropolitan State University Summer 2010 Executive Background Introduction Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 stores and 12,000 ATMs and the Internet across North America and internationally. They are headquartered in San Francisco; however, they’re decentralized so every local Wells Fargo store is a headquarters for satisfying all their customers’ financial needs. This has led to a large customer base, which Wells estimates that one in three households in America does business with them. Wells Fargo has $1.2 trillion in assets and more than 278,000 team members across their 80+ businesses. They ranked fourth in assets, and third in market value of their stock among their U.S. peers as of March 31, 2010 ("Wellsfargo.com," 2010). Wells Fargo’s company vision is stated as, “We want 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.” This statement has led them to have an outstanding reputation in the community. They have been recognized in the following publications: FORTUNE 19th in Revenue among All Companies...
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...Wells Fargo and the No Good, Horrible, Very Bad Deed Wells Fargo, one of the highest ranking among banking corporations, revealed a scandal in late 2016 that affected millions of customers and destroyed the corporation’s brand. The extent of the internal corruption continues to baffle citizen worldwide. Wells Fargo employees created 3.5 million fake accounts, charged 190,000 accounts unwarranted fees and enrolled 528,000 customers in an online bill pay system without their consent. 5,300 employees have been fired in relation to the scandal, and management is being restructured (Egan, “5,300). Wells Fargo claims they hold themselves and their employees accountable for the scandal and has agreed to pay restitution to all victims and almost $350 million in lawsuits and fines (Egan “5,300”). The most important loss for Wells Fargo, however, is the trust of their customers and investors....
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...Wells Fargo Bank & Co. Henry Wells and William Fargo founded Wells Fargo & Company (WFC) in 1852. Wells Fargo (WFC) is a diversified financial services company and one of the United States' top-40 largest private employers. Headquartered in San Francisco, Wells Fargo is decentralized so that every local Wells Fargo store is the headquarters for their customers. The vision of Wells Fargo is to satisfy all their customers' financial needs, while helping them succeed financially, Wells Fargo desires to become known as one of America's great companies and the number one financial services provider in each of their markets. Today Wells Fargo is the only Moody's "Aaa" rated bank in the United States as well as one of the industry leaders in financial services competing in virtually every segment of the financial industry. Wells Fargo & Company (the Parent) is a financial holding company and a bank holding company. Wells Fargo is a distributor of financial service products via the Internet and other distribution channels across North America and elsewhere internationally. With 11 Executive Officers and 14 Board of Directors, Richard Kovacevich Chairman, President and CEO continues to lead the company into the 21 century by connecting to the past while focusing on the future. The company is a $420 billion dollar financial services company providing banking, insurance, investments, mortgage and consumer finance to the United States and abroad. WFC strives to provide its customer...
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...Commercial Bank: Wells Fargo Background: Wells Fargo is the largest bank in terms of market capitalization and the fourth largest bank in the United States in terms of assets. The present Wells Fargo is a result of a merger between San Francisco-based Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998. Later on October 3, 2008, Wells Fargo acquired Charlotte-based Wachovia for about $15.1 billion in a stock-for-stock transaction. Its headquarters is currently located in San Francisco, California. Wells Fargo is a diversified financial services company that provides credit cards, consumer banking, corporate banking, investment banking, global wealth management, financial analysis, private equity, insurance and etc. Wells Fargo and the 2008 Financial Crisis | Before the crisis | During the crisis | After the crisis | Profitability Ratios | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | ROA% (Net) | 1.76 | 1.52 | 0.28 | 0.96 | 0.99 | 1.23 | ROE % (Net) | 19.6 | 17.23 | 3.61 | 11.64 | 10.38 | 11.90 | Net Interest Margin % | 61.88 | 59.62 | 72.05 | 82.32 | 84.77 | 86.54 | Calculated Tax Rate % | 33.45 | 30.70 | 18.48 | 29.62 | 33.36 | 31.47 | | | | | | | | Debt Management | | | | | | | Total Debt to Equity | 9.51 | 11.08 | 12.22 | 10.13 | 8.95 | 8.37 | Equity Multiplier | 10.51 | 12.08 | 13.22 | 11.13 | 9.95 | 9.37 | | | | | | | | Asset Management | | | | | | | Total Asset Turnover | 0.1 | 0.1 | 0.05 | 0.08...
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...he industry environment that Wells Fargo is a part of is made up of threats of new entrants, supplier power, buyer power, and substitute products. When it comes to the threat of new entrants in the financial industry there is no threat for Wells Fargo. The financial industry requires a lot of capital and trust. Currently none of the industry has a lot of trust but they do have capital to make investments and decisions that a new entrant to the industry does not have. There is an extremely high entry barrier in the financial industry. When it comes to supplier power, the supplier concentration is mainly related to capital in the financial industry. With capital being difficult to obtain, the suppliers do hold a lot of power over the financial industry. One of Wells Fargo’s advantages is that that they hold a large amount of capital and have the ability to invest and keep mortgages on their own portfolio. Buyer power is high in the financial industry. The financial services industry is a service based industry, meaning if they do not please the consumer then they lose the customer. The products available by the financial industry are very similar. Although Wells Fargo puts a lot of effort into differentiating their product, the customer will go elsewhere if they feel as though they are not treated right. . Rivalry among existing firms exists between Wells Fargo, and the three following competitors: US Bancorp, Bank of America and Citigroup, this being said there is a high...
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...Waste at Wells Fargo Waste at Wells Fargo Introduction: Headquartered in San Francisco, Wells Fargo, a diversified financial services company, is one of the few American companies that are still operating under its founding name as well as in its original business for longer than 150 years. It has always strived to help its customer achieve financial success by provides banking, insurance, and mortgage finance, just to name a few. In addition, it has always contributed to communities across the North America and internationally. We intend to demonstrate how Wells Fargo is promoting waste with its current policies and have mapped out a plan to get them back on track and more profitable. History: The company's history goes back to 1852, when Henry Wells and William Fargo created Wells, Fargo & Company in New York City during the West’s gold rush. They provided banking and express services to Golf Rush pioneers. Banking services included buying gold, and selling paper bank drafts. Express services, on the other hand, consisted of the rapid delivery of gold, mail and valuables from1852 to 1918. Wells Fargo used back then stagecoaches, steamships, the Pony Express, and railroads to deliver customers’ business. In 1860s, the firm earned a reputation for trustworthiness by dealing rapidly and responsibly with customers’ money. It earned everlasting fame with the overland stagecoach line by meeting the demand for rapid delivery, from the coast to the mountains; Stagecoaches...
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...Financial Analysis of Wells Fargo Bank Analyze the company’s mission and vision statements against the performance of the organization. Then, evaluate how well the company lives out its mission and vision statement. Provide support from the organization’s performance in your evaluation. The mission statement of Wells Fargo, like most other banks, centers around getting as much money and financial obligation from each individual as possible. “We want to satisfy all our customers’ financial needs and help them succeed financially.” To further clarify that mission Wells Fargo says, “We believe our customer can save more time and money if--- after carefully shopping around and comparing choices --- they bring all their financial services to one trust provider.” Wells Fargo has lived up to its mission statement by becoming the nation’s largest financial institutions, serving one in three U.S. households and employing over in 500 working Americans. Regardless of the growing size, scope and reach, Wells Fargo common visions and distinct values form the fabric that holds the company together. As a team member of Wells Fargo, I can say it doesn’t matter what my responsibility is, or my titles, the business of the company is what I work for. Wells Fargo is one of the few American companies doing business for longer than 150 years under its founding name and in its original line of business: banking. Banking has changed in many ways through the years...
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