Charles Schwab Essay Example | Topics and Well Written Essays - 750 words

Charles Schwab - Essay Example The primary tool that should be used to analyze key issues of the case is a SWOT analysis. Since technology is an ever-changing influence on the business world today, and businesses must stay on top of technology in order to provide the best business, the businesses must make sure they analyze these concepts on the terms of a SWOT analysis. There are several strengths in this approach, as the customers feel empowered by their ability to use online interphases to participate in trading and investing. Furthermore, the opportunities continue to allow for better organization and focus for the business. Weaknesses focus around the fact that technology will continue to change, so the interphase will need to be constantly updated and customers may need extra assistance with this. Threats include the ability of other companies to adapt to the same type of interphase, and the fact that the technology will be both costly and expensive for the company. Having used the tools described above, identify the key issues that the company should focus on - relate it to the reading in the Grant text for that week. Tell the reader why those are the root issues and not just symptoms of something deeper. Charles Schwab should continue to focus on technology in order to push its firm to be the most technology-driven company. The name of the brand "Charles Schwab" holds much respect for investors, so the combination of technological advancement with the name should grab the attention of those willing to invest. As Generation X ages, and as they were the generation that showed the first true interest in technology and computers as an everyday resource, it will become important to target them for investment strategy, and a good way to do this is with top-of-the-line technology. Technology grabs the attention of Generation X and also peaks their interest, because most of the individuals that are a part of that generation respect the reliance of computers. Combining this with the respect for the company's name, the company should be able to achieve a large amount of success. Find and cite three benchmark companies that face similar issues or counterpoint issues TODAY. Three companies that face similar issues today are actually three banks that also have to grab the interest of Generation X in order to promote investment in the company. This includes Chase, which recently bought out Washington Mutual, Bank of America, and Citibank. All three banks are becoming more and more interested in the use of technology in order to keep organization clean, and reduce human error. Technology has also allowed these companies to provide customers with more power in their investments with technology like online banking. Like Schwab, these banks are using online interphases to give customers more access to information, and more power overall. Again, technology helps to catch the attention and interest of the aging Generation X population, who have always shown a certain trust in the use of computers.Select and defend a direction for the company. I believe that Charles Schwab should continue with its current strategy of using technology to stay on top of the investment firm business. Technology is a great way to not only interest Generation X, but also show its strength, power, and reliability as an organization, combining its already reliable name with the reliability of technology. The better the technology and the more empowered the customers, the more likely they will be to come to the business, and stay with the business.