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Wells Fargo Case

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In addition, in contrast to other parts of the bank, the department OFS worked in a market that has undergone tremendous changes on a daily basis. Companies using modern technology, often find that all the changes taking place with the "Internet speed", that is 7-10 times faster than the conventional financial performance of business operations. OFS-division found that because of the constantly changing competitive situation in the Internet market priorities for projects are constantly changing depending on the benefits and opportunities of emerging technologies. This is connected with the need to constantly monitor "the threats" from competitors and meet the requirements of customers (Rothacker, Rick, 2011).
Wells Fargo works in a field where …show more content…
In the beginning, it was seen as an operational channel in one way or another research project. The goal was just to understand how it works, to develop it and explore the possibilities of use. By definition, a research project is flexible for the development of the freedom that the project needs. However, if the 450,000 best customers moving to a new channel, Wells Fargo cannot rely on the case - requires a certain amount of discipline. Wells Fargo always managed to clearly state the operational arm of banking; however, it had problems with effective implementation (Smith, Randall, 2011). It needed a mechanism that would ensure that plans of Wells Fargo are in line with their view; in addition, Wells Fargo needed a set of clearly defined objective as the measures of performance. In the online space, everything is new. Wells Fargo needed a good way, revealing what techniques help to achieve goals, and which are not (Smith, Randall, …show more content…
was first used by Prudential in the late 1970s. It implies a combination of different companies related to the provision of financial services and investment: banks, investment funds, insurance companies, brokerage firms. Since each of the companies separately has a different profitability across business cycles, so, theoretically, you can maximize profitability and stabilize revenue, the combined companies. Also, this model is used to attract customers using a variety of financial services. The use of various financial services to one company is cheaper for the consumer than the use of financial products separate companies (Smith, Randall,

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