Research Proposal: JP Morgan Chase
Research Proposal: JP Morgan Chase
JP Morgan Chase Bank is an established financial institution in the United States of America. It has operated for over 200 years, and its headquarters are in New York City. The bank has grown largely by acquiring other banks. Currently, it is the largest bank in the US and it serves in approximately 60 countries. JP Morgan Chase is a financial institution that provides different services to its clients. It serves in five segments that include corporate and investment banking, consumer and community banking, global finance and treasury, commercial banking and asset management. These services have enabled the bank to prosper in the banking industry. Through strategic positioning, JP Morgan Chase has also been able to stay competitive in this market.
Alignment of the Strategic Plan
It is important that managers emphasize the mission statement of an organization to the employees and other leaders in an organization when changing or developing the strategic plan. By doing this, management, at JP Morgan Chase bank can clarify the measurable objectives and the purpose of the bank (JP Morgan Chase and Co. 2015). In the research proposal, we have to change various items of the strategic plan for us to align ourselves with the new direction of the organization. When focusing on inspiring an employee or a consumer, we can develop a different marketing strategy that will help us in the changes in our strategic plan while still maintaining the vision statement of the organization.
It is crucial to make sure that all stakeholders are aware of suggested the strategic plan. Measuring feedback is important as it gives the organization a starting point. By doing this, JP Morgan Chase will be able to achieve its desired outcomes. Strategic alignment involves learning the company values and the proposed strategies. It also involves understating the organization mission, vision and objectives (Hill, 2014).
External sources from where we can retrieve information about the external environment analysis include the Census Bureau Website, the internet and media and social media websites. Information from the Census Bureau is important, as it will reveal the demographics of our target market. The internet will provide us with valuable, up-to-date information about the current laws in the industry and about our competitors. The media is important for information such as the competitors’ advertisements.
The external environment information is important to help an organization achieve its goals. However, the actions and activities within the company are also important to take into consideration for the organization to achieve growth and profitability. In the company’s internal environment, there are many factors can be considered including the social risks in the bank’s business transaction. They are important in enabling the clients to know the existing opportunities like sustainable investing, clean energy opportunities and energy efficiency JP (Morgan Chase and Co. 2015). The internal sources include the financial reports, company values, customer care values, the employees and the objectives of the company.
JP Morgan Chase Bank is a successful bank in the banking industry. It is currently the largest bank in the US with the biggest market share. The bank requires a strategic plan that help them to continue to achieve growth and remain profitable. The learning team will identify the generic strategy, the grand strategy, and the value discipline that it should utilize. Analyzing the external and e internal environment is important as it will enable us to determine the areas of improvement in the organization. The learning team will also show how aligning the new strategies to the values, and the mission statement of the company will help the organization achieve growth and profitability.
Hill, C., Jones, G., & Schilling, M. (2014). Strategic management: theory: an integrated approach. Cengage Learning
JP Morgan Chase and Co. (2015). Environmental, Social, and Governance. Retrieved from http://www.jpmorganchase.com/corporate/About-JPMC/esg.htm