Usa World Bank Situation Analysissituation Background

Situation Background

UWB has established itself as a major financial institution with several facilities within the United States and internationally. UWB caters to consumer and small business clients. In order to secure a large portion of the market share, UWB must maintain competitiveness by continuously developing and marketing products. In order to effectively market these products, UWB must ensure that these products respond to the needs of existing and potential customers. Although UWB has been very successful at developing products in the past, the company has mainly focused on domestic market. Additionally, the efforts of the Brian Allen and his team have not been as fruitful with recent initiatives. There is a great need for the organization to develop lucrative products to expand UWB’s market share and to maintain profitability. The company must craft a strategic plan which would incorporate the release of new products and the development of methodologies that would continuously provide the company accurate feedback on what the customers need and want.

UWB’S new undertaking requires strong and knowledgeable leadership to evaluate all internal and external forces present, analyze available statistical data, and create a strategic plan that considers all those factors. UWB must recognize the present issues, assess the risks and benefits of plausible alternatives, and select the most optimal solution. Further evaluation is needed to identify organizational issues and challenges which must be immediately addressed.

Issue Identification

Issues

Erroneous data · Data collected was skewed towards one customer demographic.· Large sample size which may distort data

Lack of knowledge · UWB leaders lack necessary understanding of research and data analysis.

Inconsistent methodologies · UWB employs different processes in data collection.

Board of directors may prevent the release of two profitable products. · The board of directors has a policy on launching only one product per year.

Opportunity Identification

Opportunities

Industry and global leader · UWB can achieve this by offering products that respond to customers’ needs and offering excellent customer service.

Increase sales and profitability · Both products will increase sales, market expansion, and attract new customers.

Improve internal processes. · With Hansen joining the team, UWB has the opportunity to evaluate, create, and redesign current systems