In its more than 200 years of existence, JP Morgan Chase Co. has grown to claim a position as one of the world’s largest financial institutions. With operations in more than 60 countries around the world, the company has cemented its place at the top of the industry. The company has traditionally used various strategies, including mergers and acquisitions to achieve success. However, the business environment is becoming increasingly dynamic and competitive. The organizational structure of the company is seen by some analysts as inadequate due to the many executive positions. Moreover, the company has been involved in some unethical practices in the recent past. There is, therefore, a need for the company to adopt various strategies in order to remain at the top of the industry. This paper seeks to develop a strategy for JP Morgan and explain ways in which the strategy can be implemented.
JP Morgan Chase Co Strategic Plan
JP Morgan Chase Co. is an American financial organization based in New York City. Owning assets worth over $2.3 trillion and more than 240,000 employees in more than 60 countries, it is one of the largest financial institutions in the world. The company operates under the JP Morgan and Chase brands. The JP Morgan brand deals with governments, huge multinationals, the wealthy as well as individual investors. On the other hand, the Chase brand is divided into consumer business and commercial banking segments. The company is built on a mission to become the best financial institution in the world and a strong code of conduct. However, its organizational structure is frequently criticized by analysts due to the lack of a clear dichotomy between the Chase and JP Morgan segments and many top-level executives. Moreover, the company was caught up in a scandal involving overcharging of military families for mortgages in 2011. In the face of a changing and increasingly competitive business environment, JP Morgan Chase Co. has had to continuously adopt various strategies in order to compete favorably.
The company has employed an expansion strategy throughout its history, which is evidenced by the various acquisitions and mergers by the company. Over time, the company rolled out the international expansion strategy, which saw the establishment of the company’s base in various countries around the globe. However, despite the ambitious expansion strategy, the company still largely relies on the North American market….