Essay about Strategic Assessment Of American Automobile Association
Strategic assessment is needed to evaluate the quality of a firm’s strategy. There are many different approaches to evaluating a firm’s strategy. The purpose of this paper is to perform a strategic assessment of American Automobile Association (AAA) and the Auto Club Group, one of AAA clubs, growth in the banking sector. The process includes introducing the firm and its industry, the firm’s interesting action and/or change, comparison to a firm within the same industry and the industry itself, and the final assessment of the company’s strategy.
AAA & ACG Overview & New Venture
American Automobile Association (AAA) is pronounced “triple A” and it is known as the largest motor club and travel organization. The company was first founded for “the purpose of lobbying for driver and passenger rights, fair laws and safer vehicles” and now has “broadened its horizons to include all types of travel-related services, as well as offer a variety of insurance and financial products and services” (www.aaa.com). The Auto Club Group (ACG) is one of AAA clubs, and its CEO, Joe Richardson, Jr., has stated he plans to push the member services, banking and insurance growth along with new development of mobile technology and develop new products for Millennials (Greene, 2016). Although AAA Banking was established in 1999, ACG just recently began to grow its services. “In 2011, the Auto Club entered the banking industry with its acquisition of a federally chartered bank in…