American Express Mission Statement

Focused on building lifelong relationships that satisfy our customers ' financial needs, Community Banking is one great team that "out-locals the nationals, out-nationals the locals" striving to earn our customers ' business and deliver a world-class, seamless Omni-channel experience every day with high performance accountability and balanced results. (Wells Fargo Intranet 2016)

Kenneth I. Chenault was born on June 2nd, 1951, in Mineola New York. He went to Bowdoin College and he also went to Harvard University. Before he became CEO he was working at Bain & Company from 1979 to 1981 as a management consultant. Chenault is the chairman and chief executive officer (CEO) of American Express. He went to go work for American Express in 1981 as Director of strategic planning. He saw an opportunity to work in a different department within the company, which was the merchandising group. Chenault saw and wanted a challenge, and he got one. He took the company from making 150 million to 500 million.

The attacks on the twin towers shook the world and left our nation in shock. In response to the attacks, Polo Ralph Lauren created the American Heroes Fund. This fund raised over $4 million dollars to help those in need because of the attack and those working to save the victims of the attack. It also started a fund for children of the victims to be granted college scholarships.(Polo Global) Additionally the fund presented the Twin Towers Fund, American Red Cross and the New York Police and Fire Departments with generous gifts of large sums of money. A company that has been very successful has the generosity to give back. At such a critical moment in our nation’s history was a wise move. Being seen as a company who cares and wants to give back to the country it started in, won over the hearts of Americans and their

Recently, American Express lost an antitrust suit when its rules were found to be anticompetitive because of not allowing merchants to promote other cards or offer certain discounts. Amex has charged the merchants higher fees than VISA and MasterCard. These fees are used to fund its rewards program as well as to provide the customers with other perks. In this regard Amex has contractual agreements with the merchants which prohibit them from steering the customers to the other cards (Sidel, 2015). As a judge ruled, these rules put an unlawful restraint on trade. Back in 2010, the Department of Justice had filed a lawsuit against the credit card company alleging that its merchant rules inhibit competition and raise the prices

Wells Fargo is an international banking company that provides financial services to its customers. As an international, well known company, Wells Fargo is among the many that follow basic business management aspects. For one, Wells Fargo has a competitive advantage over some of the other companies in this type of business. For one, Wells Fargo major advantages is in the retail banking stores. It has one of the highest numbers in stores/spaces and it’s due to its large network allowing Wells Fargo to be a leader in retail banking. Another advantage this company has is the fact that is has had some changes in regulation which has allowed it to increase profits.

American Express is an American multinational financial services corporation that was founded in Buffalo, New York by by Henry Wells, William G. Fargo and John Warren Butterfield on March 28, 1850. The company is headquartered in Manhattan's Three World Financial Center in New York City, United States. American Express Co. is a global payments and travel company. American Express Co., offers products and services, including charge and credit payment card products and travel-related services to consumers and businesses around the world. Most people know American Express as just a bank, but it is much more than that. Based on American Express’s history, I decided to research this company and find out more about their mission, current strategic

American Airlines throughout its 90 year existence has been constantly linked to aviation greatness. From its first flight by the legendary Charles Lindbergh, to its 2015 ranking as the “World’s Most Profitable Airline.” American Airlines currently boasts the largest aircraft fleet in the industry with over 900 aircraft and during 2015 that fleet carried a nation leading 146 million enplaned passengers. In the following we will look at how a small mail carrier evolved and survived amongst its competitors to become one of the top airlines in the world.

Wells Fargo is an international banking company that holds its headquarters in San Francisco, California. Many customers relied on the Wells Fargo banks and trusted them with their money because they were considered one of the better banks out there without many issues regarding fraud or scam. However, the trust of this bank soon ended when there was a fine against San Francisco employees for opening accounts and credit cards that may not have been approved by customers. The reasoning behind this scandal was so that the company could meet their sales quota, yet the unethical approach goes against the business ethics of the company.

If I oversaw American Express, I would allow the employment of smokers. It is the firm’s legal, ethical and social responsibility to not discriminate against smokers. Although, many other companies are refusing to hire smokers due to the employment costs of employing them. I will engage with smokers in a way which will benefit the entire society. I’d achieve this by providing incentives for smokers to quit such as: counseling, nicotine quitting aids, cheaper health care rates, only one designated smoking area and the same number of breaks as non-smokers. Also, I will take the proactive strategy to increase the firm’s relationship with society by doing more than they expect. Likewise, I will display discretionary responsibility by going above and beyond society’s legal, ethical and social expectations.

For my paper, I chose to analyze the insurance company, America Financial Group, Inc. What first impressed me about the company on http://www.missionstatements.com, was their clear, concise and well-written mission statement. According to p.77 in the book Principles of Management, a well-written mission statement clearly answers two questions “who we are and what do we do” (Carpenter, & Taylor & Erdogan, 2009). And in my opinion, America Financial Group, Inc.’s mission statement is especially successful because it clearly identifies the purpose of their company addressing all the stakeholders involved:

This is an overall study of the organization of American Express Bank Ltd. where it’s working environment and various policies and practice are studied.

Shedding its holdings of a company will allow the bank to escape regulation by the fed. Banks will escape regulations by the fed removing the fed corporation as an expense of theirs. Banks such as, the bank of Ozarks, the little rock, ark bank are banks that are putting this elimination expense in perspective. BancorpSouth bank in Tupelo, Miss., has spoken out regarding this matter. Smith bank stated that as a bank they are spending an excessively amount of time, money and effort on an expense that they could easily work without. As the banks expel their contract with the FDIC banks would not have to go through those extra screenings, and the cost will be reduced. If the banks remove this cost of an extra layer of oversight led by the fed

Bank of America 's company philosophy is “we believe, very simply, that it is the actions of individuals working together that build strong communities ... and that business has an obligation to support those actions in the communities it serves” (Lewis). As stated on their company website overview, Bank of America is committed to creating meaningful change in the communities they serve through their philanthropic efforts, associate volunteerism, community development, and investing, support of the arts, and environmental initiatives (Bank of America, n.d.). Their neighborhood revitalization and stabilization programs were designed to aid, restore, and invigorate communities suffering from the growing number of foreclosed and vacant properties. They are further committed to cost-efficient and environmentally sustainable practices that benefit the global community. An example of this is the Bank of America Tower in New York City, one of the world 's most environmentally-friendly skyscrapers. Bank of America expects and actively encourages its employees to act ethically, honor Bank of America’s code of ethics, care about one another, and value their communities.

YES! Most of what we buy from developing countries is grown or manufactured by workers whose rights are ignored in important ways. It’s a fundamental fact! May it be a cell-phone component from China or the Indian cotton in your shirt, these are likely processed by workers who were not paid minimum wage, forced to work overtime or exposed to hazardous chemical.

This week’s case discusses gratifying millions and millions of consumers worldwide along with the customer service adversities comprised meanwhile as annual profits surpass $40 billion along with business operations amounting to 900 billion. The American Express Company is an American multinational financial services. The corporation is headquartered within the Three World Financial Center in New York City.