1. Using the competitive forces model and a competitive comparison, What barriers and enhancers should Wells Fargo consider in moving forward strategically?
2. What macro-environmental trends and internal factors will impact the financial industry? What competitive reactions are likely to take place among Wells Fargo and their competitors?
3. How will Wells Fargo continue to grow? How will they decide which direction to take? How can they increase customer responsiveness?
4. How can Wells Fargo position themselves for future growth?
5. What business model would be appropriate given the financial industry's environmental limitations? Explain your answer.
6. What strategies might Wells Fargo consider in a mature industry? Explain your answer.
7. How can Wells Fargo establish themselves as the technological leader in the financial industry? Is this something appropriate for increased growth? Why or Why not?
This case examines Wells Fargo's focus strategy in the presence of a turbulent and competitive financial services industry. Wells Fargo's faithful approach to fulfilling customer needs and supporting their desire to succeed financially in heavy competition is the primary emphasis of this case. Through modernization, trusted business development, and the two-pronged strategy of using technology, Wells Fargo competes with Bank of America, JP Morgan Chase, Citigroup, and PNC Financial Services both domestically and globally. Wells Fargo's vast product offerings and cross-selling to customers drives their strategy of being everything to all customers. While being the fourth largest bank in the US and number one in deposit market share, in the future, Wells Fargo faces growth limitations due to acquisitions, financial reform legislation, stagnant consumer confidence, and global financial crises. Paired against competition, Wells Fargo may have opportunities to grab additional market share and separate from the pack in community banking services?