Bus 400 Sec A
30 October 2007
"Citibank Case Analysis"
Through reading the article titled "Citibank: Performance Evaluation" and performing my own in-depth case analysis, I was able to analyze the issues Citibank California was confronted with and determine possible solutions to help run their business more successfully. Although Citibank is a well-run corporation that made necessary improvements in an effort to gain a competitive advantage over their main competitors, Bank of America and Wells Fargo, a main area that needs improvement is clear: customer satisfaction. As Frits Seegers, President of Citibank California, identified, without improving customer satisfaction, the extreme success that Citibank was experiencing through financial profits, would be extremely temporary. As a result of reading this article and through concepts learned in class and through the text, I have developed some recommendations that may help Citibank in the future.
James McGaran was the manager of the most important of the 31 Los Angeles area Citibank locations and as a result, his Performance Review was perhaps the most important for the expected success of Citibank California. Located in the financial district, the branch had a staff of 15 people, revenues of $6 million, and $4.3 million in profit margin. With a diverse customer base, this specific branch reached many different business people as well the typical home banker. Competition for the branch was extremely intense with competitors branches within a block of McGaran's branch.
McGaran's performance reviews exceeded expectation every single year and he delivered impressive financial statistics in yearly reviews. However, when the compan ...
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Franchise Vs. Business Opportunity
To the untrained eye, franchise and business opportunity investments look pretty much the same. Both invite you to purchase a package of goods and services and business concepts. Both offer you the chance to capitalize on a business idea that has already proved to be successful. Both provide some training, handholding and access to a valuable marketplace.
In reality, though, there are huge differences between the two concepts. While these fundamental distinctions sometimes appear subtle, detecting and understanding them can help you protect yourself when you take the plunge into your new business.
If there's one telltale difference between a franchise and a business opportunity, it's the role of a trademark. The licensing of trademark rights is a hallmark of franchising: Every franchisee of a McDonald's, Subway or Holiday Inn is operating under a trademark license. The consistent image portrayed by these and other franchise systems symbolizes their strength in the marketplace, and is the direct result of a trademark license. If a program grants you the right to operate under a trademark owned by the seller, you're most likely looking at a franchise rather than a business opportunity.
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