Question

Explain Bank of America External Opportunities

• Expansion in other countries

• Technology innovation

Answer 1

Bank of America is an American MNC investment bank which was founded in the year 1998 by Amadeo Giannini. It has it's headquarters in North Carolina. It is considered as the second largest bank in America. The bank has various opportunities but here we will discuss only two.

a) Expansion in other countries :-

Although Bank of America has a huge global presence but still it can develop and improve it's strategy to make an effective expansion. This expansion strategy would be good outside the United States. Due to much scandals in USA, Bank of America has deteriorated it's reputation, so by expanding it's business in other countries can help the bank to gain it's reputation back.

b) Technology innovation :-

With other industries, banking sector too has involved technology in it's daily processes. Banks has developed it's internet based activities such as internet banking. So, Bank of America can take this opportunity to other countries and make all these technical services available for those countries.

Hope this helps :)