Ken Thompson, Chairman, President and CEO of Wachovia, which is the fifth largest bank in the United States. In fact, in 2007, Wachovia hit the record earnings of 2.3 billion with 4% earning per share. Thus, Thompson illustrates three main issues, Macro trends that shapes the future in the business world, which are the following: (1) globalization, (2) becoming greener, and (3) you.
Thompson explains that 32 years ago, Wachovia was only a small North Carolina Bank that primarily shaped on the tobacco and apparel businesses. At this time, they were not aware of globalization and how to best maximize profit as they were largely affected by economy of faraway lands. Thompson also mentions that back then he realized that they should have considered the globe every time they made decisions and also go after fast growing markets. The second issue, becoming greener, Thompson explains that Wachovia, always striving for improving the environment by …show more content…
Based your reading of the Darden Business Review case: Integration of Wachovia and Golden West (A):
- Discuss two reasons for Wachovia to pursue and complete the merger with Golden West,
Thompson expresses that joining forces with one of the country’s premier financial institutions , Golden West will not only enhance their market presence and product set yet also enable Wachovia to distribute a more solid value proposition for their shareholders and customers.
In 2007, Wachovia had doubled its earnings and hit their revenue record and Thompson was especially satisfied with Golden West’s contributions that had helped Wachovia's growth. In fact, Golden West had given Wachovia disclosure to markets in the west in the united states. Their agreement also gave Wachovia benefits of exposure to mortgage lending which in fact contribute larger returns and less risks.
- Based on your reading of Chapter 2 from our text, share your impressions of Exhibits 7 (page 14) and 9 (page 16) from the
Thompson explains that 32 years ago, Wachovia was only a small North Carolina Bank that primarily shaped on the tobacco and apparel businesses. At this time, they were not aware of globalization and how to best maximize profit as they were largely affected by economy of faraway lands. Thompson also mentions that back then he realized that they should have considered the globe every time they made decisions and also go after fast growing markets. The second issue, becoming greener, Thompson explains that Wachovia, always striving for improving the environment by …show more content…
Based your reading of the Darden Business Review case: Integration of Wachovia and Golden West (A):
- Discuss two reasons for Wachovia to pursue and complete the merger with Golden West,
Thompson expresses that joining forces with one of the country’s premier financial institutions , Golden West will not only enhance their market presence and product set yet also enable Wachovia to distribute a more solid value proposition for their shareholders and customers.
In 2007, Wachovia had doubled its earnings and hit their revenue record and Thompson was especially satisfied with Golden West’s contributions that had helped Wachovia's growth. In fact, Golden West had given Wachovia disclosure to markets in the west in the united states. Their agreement also gave Wachovia benefits of exposure to mortgage lending which in fact contribute larger returns and less risks.
- Based on your reading of Chapter 2 from our text, share your impressions of Exhibits 7 (page 14) and 9 (page 16) from the