Talent Management and Development Audit and Strategy Proposal
James McClain Jr.
Bank of America is a bank and financial holding company. It is a financial institution that serves individuals small and large business, large corporations and the government. The bank offers banking, investing, asset management, risk management, and other financial services. Through its subsidiaries and other nonbanking subsidiaries in the United States and international markets it provides six major segments. They are Deposits, Global Card Services, Home Loans and Insurance, Global Banking, and Global Wealth & Investments Management. The company is headquartered in Charlotte North Carolina and employees more than 283M people. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with 29 million active users. It also has a reach of more than 40 countries. It is structured as a product organization. This is defined as a type of departmentalization based on the products or product lines produced (Greenberg and Baron 9 Ed.). This allows for each business unit to operate as single entity working towards a common goal of profits. Each business unit executive is sent out with what is known as a Hoshin plan which is a method devised to capture and cement strategic goals as well as flashes of insight about the future and develop the means to bring these into reality. Those goals are then trickled down to each individual business unit so that they can make and adjust according their specific inputs Bank of America is headed by Chief Executive Officer Brian T. Moynihan. Mr. Moynihan was elected to his role by the board of directors on December 16, 2009, and took office on January 1, 2010. Mr. Moynihan is a member of the Bank of America board of directors as well as member of the...
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