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...
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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
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The airline industry has become more and more competitive over the years. It takes determination, preparation, knowledge, and recourses to start an airline company, and that is just what happened forty-five years ago in Dallas Texas. Southwest Airline is a very successful airline company serving around 100 million customers annually (Southwest Corporate Fact Sheet). Many things stick out about Southwest such as their satellite-based WIFI and free luggage. These accommodations appeal to the customers. The company describes its mission as “dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit” (About Southwest). From a customer standpoint, there is nothing else
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American Express has been known as a commodity to most business travelers. In order to build its customer base, other consumers need to see the card as an indispensable convenience in their lives. American Express offers convenient methods to obtain account information, pay bills, find discounted products, and even make travel plans via the Internet. The Internet site offers these options, as well as other services, such as on- line help and assistance for small businesses. American Express realizes the need for many consumers to save time and money, but to still feel important and respected. The ingenuity and thought put into the services offered on the web site shows that American Express is genuinely concerned with the satisfaction of its customers.
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:
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
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
" This global London-based mining and mineral company was severely impacted by the global recession in 2008. Such an impact forced unprecedented workforce reductions worldwide and decentralized HR management had to be brought in under a single umbrella to ensure an orderly and efficient system that would support the organization’s future productivity."( Case Study OneRedesigning HR HRMG 5000 - Student Simple). Human resources have a strategic significance if managed efficiently and productively. The company revamped and managed its HR functions in a manner so as to achieve the strategic goals of the
To start off, American Express is an international corporation that provides charge and credit payment card products and travel related service to consumers and businesses. Our company currently consists of four operating divisions. These four divisions are US card services, international card services, global commercial services, and global network and merchant services. US card services provides services to patrons within the US while our international card services provide business to patrons all around the globe. Our Global commercial services provides expense management business to companies worldwide and our last division, global network and merchant services helps card owners and cards under global network service businesses.
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
The importance of Human Resource management is associated with the beginning of mankind. As the knowledge of survival had begun including safety, health, hunting and gathering, tribal leaders passed on the knowledge to their youth. However more advanced HRM functions were developed as early as 1000 B.C and 2000 B.C. Since the modern management theory took over, the working environment was transformed into a more friendly and safe work place. The workers were termed as most valuable resources. While some companies took the human side of employment seriously, there were others who did not find it mandatory. Hence they faced huge labor unions and factory shut downs (Henning, 2001).
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
In August of 1971, Smith started his venture by buying controlling interest in Arkansas Aviation Sales. While operating his new firm, Smith recognized the tremendous difficulty in getting packages delivered within one- to- two days. This dilemma motivated him to do the necessary research for resolving the current inefficient distribution system. Thus, the idea for Federal Express was born: a company that revolutionized global business practices and now defines speed and reliability1.