A Report on the Current Position, the Ultimate Sustainability of Current Strategy, and Future Strategy Recommendations of the Wells Fargo Bank Essay

Those guys have gone their own way. That doesnt mean that everything theyve done has been right. But theyve never felt compelled to do anything because other banks were doing it, and thats how banks get in trouble, when they say, Everybody else is doing it, why shouldnt I? Warren Buffett on Wells Fargo Alberta Premier Rachel Notley Introduction The quote from Warren Buffett, presented above, may be one of the best compliments that Wells Fargo, the San Francisco-based banking giant, has ever received. Buffett does not speak to Wells Fargos profits or organizational structure, but their overarching strategy to do what they knew they needed to do, regardless of what others in the industry were or have been doing. This is, as Buffett points out, what has set the bank apart from competitors and what has arguably made it the most valuable bank in the world in recent years. However, this is not to say that Wells Fargo does everything right and that there is not room for improvement in strategic development. With this in mind, the executive report presented here is designed to assess what the banks current position, the ultimate sustainability of its current strategy, and several specific recommendations for how it can develop strategy going into the future. In other words, the report discusses what Wells Fargo has done well in the past, what it is doing well now but may consider changing, and how it can continue to do well in the future. The current position of Wells Fargo is clearly strong in relation to its competitors, as will be discussed below. The report presents several of the factors of Wells Fargos performance that gives it this strength. This will lead into a discussion of the banks current strategy, according to both outside sources and the vision, values, and mission of Wells Fargo itself. However, the report also discusses the possibility of this approach not being sustainable...

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