The macro-environment is defined by Hooley, Piercy, & Nicoulaud, 2008 as the "wider social, political and economic setting in which an organization operates." The prevailing marketing brochure remains to be the corporate website which allows the company to convey its positioning in the macro-environment. BBVA Compass considers itself to be a leader in the banking industry in the markets it serves. On its corporate website, the organization recognizes its strengths in providing innovative products and services for both consumer and business clients. An exploration of the corporate website can identify potential strengths and weaknesses in the company's attempt to address the marco-environmental factors.
The BBVA Compass website, www.bbvacompass.com, provides visitors with access to its corporate responsibility and reputation through one of the links off of its About Us page. Lewis (2003) asserts an organization's corporate responsibility is commonly considered a fundamental addition to the stakeholders' criteria for judging organizations and their commitment to social initiatives. Additionally, the bank maintains its commitment to the community through a holistic blend of charitable giving, volunteerism, environmental management, diversity as well as many other programs.
The banking industry has received varying forms of criticism since the economic downfall of 2008 and remains under intense scrutiny; however, BBVA Compass' presentation of the commitment provides alignment to its corporate initiative to social initiatives. As the industry continues to repair its image, the presentation of the company's social initiatives aid in the efforts for the firm to rehabilitate the perception of the brand compared to that in the industry.
[...] BBVA Compass considers itself to be a leader in the banking industry in the markets it serves. On its corporate website, the organization recognizes its strengths in providing innovative products and services for both consumer and business clients. An exploration of the corporate website can identify potential strengths and weaknesses in the company's attempt to address the marco-environmental factors Social The BBVA Compass website, www.bbvacompass.com, provides visitors with access to its corporate responsibility and reputation through one of the links off of its About Us page. [...]
[...] Although the company does not post anything directly related to political views or the impacts recent political changes, the bank does feature news releases in the Press Room providing quotes taken from key leaders regarding either approved or pending legislation. The political and legal environment remains a key challenge for the bank as regulations continue to be presented for approval, ultimately affecting the industry's profits. Technology BBVA Compass has received awards and press coverage for its advances in technology. The company showcases this in the rolling marquees on the site as well as in its press room. [...]
[...] The BBVA Compass website reflects the company's commitment to the community, innovative approach to banking through technology, and commitment to client satisfaction through its products and services. Based on the changing environment for the industry, BBVA Compass appears to be well poised to remain competitive while differentiating itself in the market. References Hooley, G., Piercy, N., & Nicoulaud, B. (2008). Marketing Strategy and Competitive Positioning (4th ed.). Od Tappan, NJ: Pearson Education. [...]
[...] Economic BBVA Compass showcases a unique segment of the bank focused on economic research and allows visitors to join mailing lists to remain current on the findings of this department. The economic environment affects the banking industry directly and banks must maintain the ability to react quickly. In this segment of the macro-environmental factors, BBVA Compass appears to lead the industry in providing economic updates as well as responding to economic changes in the industry. Conclusion Unfortunately, the bank does not feature its core mission or value statement directly but it does attempt to present these indirectly through the pages on its site. [...]
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