Written Assignment 3 - Bank of America Corporation

Written 3 - Bank of America Corporation - Assignment Example Purchasing countrywide financial and Merrill lynch can be termed as an unwise decision taken by the company (Richard, 2013) as they did this while the economy faced a financial crisis. Therefore, the company failed to make sound decisions relating to its operations. Bank of America serves as the largest consumer bank in the United States of America. It has a large number of members, both locally and internationally. Being a global company allows it to reach a wider group of customers, thus increasing its competitiveness. More to these, the company deals with a multiple of activities. The activities include consumer and small business banking, corporate banking, credit cards, mortgage lending, and asset management. The various activities contribute to the success of the company as losses in one segment can be countered by profits in another sector. More to this, the law suit against the company exposes it to negative publicity, which may lead to greater losses of the company. The bank also faces a financial shortage, which makes the running of the organization difficult. According to the company’s balance sheet for this period, the company experienced a decrease in its cash resources by $12912 million, its fixed assets dropped by $1194 million, while the noncurrent assets increased by $42804 million. The debtors of the company increased by $3708 million. This shows that the company’s operations became worse from 2009 to 2010. More to these, the liabilities of the company grew by $44806 million, thus depicting financial difficulties for the company. In terms of shareholding, the number of preference shares reduced by more than half within this period, but the ordinary shareholding increased marginally. However, the company received a decline in the amount of total equity from 2009 to 2010. Given the need to retain, and attract more customers to the company, the bank should focus on promoting the convenience of

Sustained writting Essay Example | Topics and Well Written Essays - 2000 words

Sustained writting - Essay Example The author further adds that, despite being wealthy, the gross domestic product does not rhyme with people’s wellbeing. Therefore, social innovation comes in as demand for the wellbeing programs at the workplace, which has led majority of employers to seek strategies that will aid the wellbeing programs. The article further adds that, research on employees’ wellbeing has previously focused on the quality of job, the balance of work life and employee satisfaction. In addition, those employees who are given more space in the office have low stress rat and high sense of wellbeing. Indeed, the growing productivity in the place of work in Australia can be related to employees’ wellbeing. Social Need: Employee and Business Well-Being as Organizations Demand According to Lebihan (2011, p.27), numerous research programs of organization and employees wellbeing are being launched; this can only mean that employees’ wellbeing has become a social need that needs to be attended to. Employees’ wellbeing includes satisfaction, job quality and the balance of work life, while organization’s wellbeing includes organization change, strength, and organizations dynamics. Nevertheless, for an organization to succeed there is need for a healthy and focused workforce that will drive the organization towards a competitive advantage. Importantly, employees’ quality of life should be improved so as to yield to organization’ effectiveness and allow employees increase their performance and productivity level. Studies have proved that when employees achieve job satisfaction, the level of absence reduces work related accidents, and the level of retention is high, thus productivity increases since employees are committed to work. Boezeman & Ellemers (2009, P.898) define job satisfaction as the attitude one has concerning his job; this attitude determines the employees’ output. According to Lebihan’s article, research is yet to proof that workers with high level of well-being are more productive thus resulting to a more profitable and functional organization. Social innovation in relation to employee wellbeing In this 21st century, imbalance contributes to the sustainability of business as usual, especially due to scarcity of resources and the increase in costs; hence, a change in the expectations of employees and customers is experienced. Therefore, social innovation should be directed towards social needs, for instance, organizations should find new strategies that not only contribute to the well being of employees but to organization’s productivity. Lebihan’s article, states that there is increasing demand of well being programs from employers who emphasize on proof that supports such programs. The result is leaving researchers with a task of proofing how wellbeing workers contribute to high productivity. Social innovation incorporates the developments and implementation of new ideas t hat will match the social needs. One arising need in this article is the employee and business wellbeing. However, social innovation is associated with the challenge of cost; nevertheless, it still contributes to the