Planning and organizing in respect to Wells Fargo is essential to the success of the company. The vision of Wells Fargo Bank is to move to the next stage going from "good to great," (wellsfargo.com). The organization has constantly reinvented itself through the years by creating new departments, products, services and new positions. The changes that have been made to the organization have been instrumental in the success of the company. Planning is a function that is often utilized within our organization.
Within the mortgage wholesale division of Wells Fargo, we tend to have an operational disadvantage when it comes to our loan process. Our company realizes that business would not exist without customers. If a business has customers, then we must have good customer service. One of the biggest problems with Wells Fargo is the turn around time for a loan approval; this is a major customer service issue.
Brokers and borrowers have a choice when choosing a lender; they do not have to choose Wells Fargo, there are many other mortgage companies to choose from. By having a fast accurate response, we can achieve expectations and deliver faster closings. By ensuring quick turn times we can establish solid relationships with our brokers and borrowers.
Wells Fargo, as a financial service company has several strengths, weaknesses, opportunities, threats and trends. In order for Wells Fargo to remain competitive in today's market place we must focus on our strengths, weaknesses, opportunities threats and trends. "A comparison of strengths, weaknesses, opportunities, and threats normally is referred to as a SWOT analysis. SWOT analysis helps executives summarize the major facts and forecasts derived from the external and internal analyses," (Bateman & Snell, 2004).
The weaknesses of Wells Fargo result from our operational platform. Once a file has been submitted to underwriting...