Introduction American Express is a worldwide, trusted, reliable company with an amazing history and founders. The company was an express delivery business, which grew to become one of the largest companies we know today. According to research, an express company was responsible for transporting valuable goods and money. American Express is world’s #1 travel service organization. They serve customers all over the globe with approximately 1,800 offices worldwide. American Express distinguishes themselves from other companies with their unique charge cards and well-known Traveler’s Cheques. The company has made it possible for customers to be able to go “anywhere and spend money without actually carrying a single dollar in your pocket.” (Advameg) This paper will highlight the history of the company, followed by HR policies & practices that stand out and implications of HR policies when comparing to other companies. The paper will also explain why the HR policies and practices chosen are important. Overview of the Company The Beginnings Henry Wells & William G. Fargo founded American Express in 1841. The company began in Buffalo, New York and was one of the first express delivery businesses, which later grew to what we know now: “a multibillion-dollar company whose subsidiaries provide travel and financial services worldwide.” (Advameg) Together, competing businessmen took three companies and combined them to make “one grand line.” (Advameg) Advances in the shipping, banking, and telecommunications industries were brought on by the company’s founders through their hard work and founding of other companies throughout the years. At the time, the postal service was very slow and expensive; deliveries were usually lost or stolen while e... ... middle of paper ... ...proquest.com.ezproxylocal.library.nova.edu/docview/845621464?accountid=6579 Sunoo, B. (1998, June). Workforce, 77(6), 64-68. Retrieved from http://www.workforce.com/articles/18183 Welch, D., Grossaint, K., Reid, K., & Walker, C. (2014). Strengths-based leadership development: Insights from expert coaches. Consulting Psychology Journal: Practice and Research, 66(1), 20-37. doi:http://dx.doi.org/10.1037/cpb0000002 Zlomek, E. (2012, April 5). Recruiter Q&A: American Express's Suzanne Schaefer - Businessweek. Retrieved May 15, 2014, from http://www.businessweek.com/articles/2012-04-05/recruiter-q-and-a-american-express-suzanne-schaefer Zuckerman, L. (2001, February 7). Howard L. Clark Dead at 84; Ex-Chief at American Express. Retrieved May 19, 2014, from www.nytimes.com: http://www.nytimes.com/2001/02/07/us/howard-l-clark-dead-at-84-ex-chief-at-american-express.html
One year ago, on September 8, 2016 the Consumer Financial Protection Bureau(CFPB), the Los Angeles City Attorney and the Office of the Comptroller of the Currency (OCC) fined Wells Fargo Bank $185 million, alleging that more than 2 million bank accounts or credit cards were opened or applied for without customers' knowledge or permission between May 2011 and July 2015. This essay will discuss the Wells Fargo scandal by explaining how the event happened and describing how the organization approached handling a response to the crisis. This will be seen, firstly by describing the how the scandal happened, and what were the causes, secondly by discussing the reaction of the company in front of the situation, how they dealt with the crisis and then
Restructuring the U.S. Postal Service to achieve sustainable financial viability. (2009, July). Retrieved January 17, 2010, from http://www.gao.gov/new.items/d09937sp.pdf
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The company had to be the second largest retailer shop in the US; it has many advantages that come along. The customers well acknowledge the company and its brand have been well established.
Linley, P.A. & Harrington, S. (2006). Strengths coaching: A potential-guided approach to coaching psychology. International Coaching Psychology Review, 1 (1), 37 – 46
American Express has always been known for its benefits to travelers. Some of the new travel discounts; such as the “Bahamas Getaway” packages offer significant discounts for planning a vacation in the Bahamas through a travel agent. The catch is that one must charge it on the American Express card to get the discounts. Coupon books that offer discounts at many shops, restaurants and attractions are given to those who buy a package. Over $11 million in “Bahama Getaway” packages were sold in 1999. Other getaway packages are available to consumers all over the world. American Express has successfully used this marketing strategy, as it realized that consumers want an opportunity to enjoy an exotic vacation, while at the same time, getting value for their dollar. Saving money is important to most consumers. Once again, American Express aims to please its customers.
When the scandal of American express came to light. Warren Buffet believed American express shouldn’t have to pay the sixty million it offered to pay but rather they should have to accept blame and admit to. Buffett even at his own expense offered to testify describing how management was trying to plan to settle. American express ended up paying out large amounts of money; however, was able to bounce back and get its company’s stock back up by 1964. Many were surprised when Buffett wanted to testify because even though he was notorious for being honest just like his father but he had never tried to turn his investments into a place where all their secrets were out in the open.
In 1905, Wells Fargo survived a major natural disaster that caused it to change its way of portraying itself in the public. Without any concern or having nothing to do with the disaster, Wells Fargo still served as a commercial bank in San Francisco to support the West’s growing
Over the past 150 years, Wells Fargo Bank has become one of the largest financial institutions in the North America. Wells Fargo Bank is much more than a bank. It’s a premium financial service provider. It believes in its people and products to help them to succeed. So how has Wells Fargo become such a leader in the financial world? It measures its success by its management staff and team members. Wells Fargo has developed and implemented its own management structure and answers the following questions regarding existing success:
While Wells Fargo is doing very well and growing financially, it is important to keep in mind how the public sees them. It is necessary for them to keep obtaining new customers, and to continue to create an ethical culture among the employees. It is important for them to not slip back into their old routine, and not become too obsessed with opening new accounts. It is very appropriate that they are shifting their goals toward customer satisfaction in order to please existing and new customers. Overall, Wells Fargo has been fortunate, and has handled the scandal with
Federal Express is an express transportation company, founded in 1973 by Frederick W. Smith. During his college years, he recognized that the United States was becoming a service-oriented economy and needed a reliable, overnight delivery service company. In 1965, as a undergraduate at Yale University, Smith wrote a term paper about the passenger route systems used by most airfreight shippers, which he viewed as economically inadequate. He wrote of the need for shippers to have a system designed specifically for airfreight that could accommodate time-sensitive shipments such as medicines, computer parts and electronics.
My company, a company that can help make sure you leave with the service needed or product desired. You may use our product, your parents, and/or maybe even your grandparents may use our product. Who are we? Amex, better known as American Express. We strive to provide the customer service needed to help our patrons and to be a well respected brand.
They are: Frederick W. Smith (Chairman, President, and CEO), Alan B. Graf Jr. (Executive Vice President and CFO), Christine P. Richards (Executive Vice President, General Counsel and Secretary), Robert B. Carter (Executive Vice President, FedEx Information Services, and CIO), and T. Michael Glenn (Executive Vice President, Market Development and Corporate Communications. Each bring unique experience and leadership skills to FedEx thus helping to shape and guide FedEx. Smith, as CEO of a multi-billion company provides the strategic direction for all of FedEx’s subsidiaries. For instance, since the company’s inception, Smith has been active in lobbying for free trade and regulatory reform. He strived for “open skies agreement” worldwide. By engaging in such activities, Smith is guiding and shaping FedEx’s long-term goals. Furthermore, Smith has experience with different transportation services through service on the board of governors for different air transport associations. This knowledge gives FedEx first-hand knowledge of how to operate in just one segment of its business. Christine Richards, on the other hand equally guides the corporate strategy of the company. She earned her juris doctorate from Duke University. Therefore, as General Counsel and Secretary, her educational background is imperative in leading FedEx to achieve the company’s goals and objectives. She must ensure that compliance with federal, state, local, and
Northouse, P. (2010). Leadership: Theory and practice (5th ed.). Thousand Oaks, CA: Sage Publications, Inc.
The work of HR specialist is not only affected by the internal factors, there are also external environmental factors that influence how HR specialist operates. In this section, I am going to discuss factors that influence the Practice of HR in organizations, from outside the scope of the organization. The factors include Political, Legislation and Regulations, Actions of Competitors and Economy of the country