Wachovia SWOT Analysis
One of the greatest strengths that Wachovia Corporation has is their organizational structure. Due to the large number of branches, they needed to create a fairly flat organizational structure. By dividing their overall territory into specific regions, they are able to appoint regional presidents to oversee each individual area; this allows the regional presidents to be able to handle problems within their own region more affectively than would a centralized board of directors. Also, Wachovia Corporation has a senior manager overseeing each function of the company. This allows each senior manager to become specialized in their own area, thus increasing their managerial effectiveness.
Another strength within Wachovia is the diversity of their board of directors. Wachovia?s board of directors totals 18 people?9 from the old Wachovia and 9 from the old First Union By doing this, the Wachovia Corporation has members that have been in control of both corporations, prior to the merger. Besides previously being on the board of directors for First Union and Wachovia, each member has had other experiences that contribute to the success of the new company (refer to the table titled ?Wachovia Corporation?s
wachovia, banking, wachovia?s, banks, corporation, bank, customer, one, services, new, inc, data, board, time, market, industry, through, service, practices, information, industries, employees, directors, director, customers, company, companies, because, base, way, success, securities, regulations, products, presence