A SWOT analysis is very important for companies to use to make strategic and operational plans to execute their goals. This allows the company to review its strengths, weaknesses, opportunities and threats internal and external. According to "Wells Fargo & Company, Company Information" (2014), "Well Fargo was ranked #25 in fortune 500 in May of 2013”.
The CEO of Well Fargo was recently named banker of the year. According to "Our Vision" (1994-2014), “We want to satisfy all our customers’ financial needs and help them succeed financially” this is Wells Fargo’s main vision. Based on their vision I searched the Wells Fargo website for their main goals.
According to "Our Goals" (1994-2014), “The ability to grow profits consistently is based on sustainable revenue growth—growth driven by our ability to satisfy all of our customers’ fundamental financial needs year after year”. In order to continue the ability to grow profits and satisfy our customers needs we first analyzed our internal strengths and weaknesses (see my organizational worksheet). Our strengths are the use of technology, diverse employee backgrounds, excellent customer service and our ability to share our knowledge with our team members. Our weaknesses are the lack of employee experience within the industry (new to banking), lack of training materials, and the inability to see others strength and weaknesses. I would make a long term plan starting with utilizing our use of technology, making advertising work more in my favor by interviewing happy customers discussing how we meet their needs. We would encourage team members to share information as they learn it to help their peers going forward. I believe these plans would help get Well Fargos name out there allowing to bring in more customers and build better relationships with our current customers. As a customer when I use a company