AS BELOW

MODULE 1 COURSE PROJECT 1

Module 1 Course Project

Linsey Mendoza

Rasmussen College

Author Note

This assignment is being submitted on February 20th, 2016 for Michael Heard’s B440/GEB4220 Section 05 Managing a Diverse Workforce course.

Module 01 Diversity Management Project - Topic Selection and Purpose Statement

4.50%

83.00 %

Overall you did a good job on this. As you develop this project, you need to shift your focus away from diversifying the business to identifying a diversity problem with the workforce. This project is about identifying and correcting a problem with diversity such as underrepresentation of women, minorities, etc. rather than business plan strategy. Additional feedback is attached for your review. Use this week's outline to shift your focus. Perhaps BofA has a diversity problem within its workforce you can write about.

Overview of the organization

The organization that I will focus on will be Bank of America that has diverse services that range from giving loans to its customers, receiving deposits, offering financial services, credit facilities and acting as a platform for buying and selling of shares. The bank over the years has been able to thrive and achieve most of its set objectives which are not the case now because there is the need to be more diverse in mobile banking because the method has been embraced by most of the banks. The competition in the market is stiff and thus the Bank of America must out more effort in ensuring that it takes into account apt measures that are going to make it still hold its position in the market. The bank has at least 150,000 competent employees who risk losing their jobs if the issue is not looked into with the urgency that it deserves.

The decision-making Process

The problem that is relating to diversity is the issue of increased competition in the market that is stirred by mobile banking that the organization has not adopted yet. The organization also has the risk of losing its employees to other well-developed rivals in the market. The alternatives that are in place are that the bank can employ at least 250 Information technologists who can help to develop mobile banking for the company. The other choice could be to open more branches all over the country that will be closer to the customers. The last alternative could be to reach out to a communication network organization or a mobile company, that is the most competitive and alias with them to offer the mobile services through their network so that the customers do not have to acquire another sim card for the banking services. Ethical principles will be taken into consideration, regarding confidential information of the customers (Ford & Richardson, 2013).

The first alternative on employing of IT professionals is applicable but it will be expensive in the end for the organization will have to incur costs on paying for their labor and also for maintenance and repair of the systems that the Bank of America operates in the mobile phones. The second alternative that is the opening of more branches of the bank is a good option, but it will be time-consuming to identify the most appropriate place to locate the banks and the costs that will be associated with opening the various banks (Minton et al. 2014). More employees have to be employed to run the new branches and thus more costs will be incurred by the organization that will be so strenuous to the management. The last option will call for an alliance with a mobile operating organization that will incorporate the mobile banking services in its operations and thus the customers will be able to deposit or withdraw their money any place and at any time. The best choice could be to have talks with the communication network.

To be able to be more competitive in banking services, then the imperial bank has to invest its funds in mobile banking, and this is through the association of a mobile services organizations Google and Android that will engage its customers through installing of the Bank of America App on their mobile phones. The choice will be implemented through carrying out of talks with the mobile Company and signing of a contract. The money that is going to be agreed on for the services will be paid, and the mobile company will install the App in mobile phones. The Bank of America will then carry out commercials to inform their customers on how diverse it has become with their services. When the customers access the services, the Bank of America would have got a competitive edge.

Conclusion

The project will be followed up by the management where the concerned parties will be required to submit reports from time to time to indicate how far they are with the project. The project has to been assessed so that it is achieved within the desired time frame. The reports that are submitted will be reviewed so that possible amendments are made. The project will work only if it exclusively solves the problem that the Bank of America is facing.

References

Ford, R. C., & Richardson, W. D. (2013). Ethical decision making: A review of the empirical

literature. In Citation Classics from the Journal of Business Ethics (pp. 19-44). Springer

Netherlands.

Minton, B. A., Taillard, J. P., & Williamson, R. (2014). The financial expertise of the board, risk

taking, and performance: Evidence from bank holding companies. Journal of Financial

and Quantitative Analysis, 49(02), 351-380.