ORGANIZATIONAL VISION

Bank of America (BOA) will be used as a case study to help explain the concept of

organizational vision.

History of the Bank of America

BOA is a financial institution in the United States that specializes in consumer banking,

mortgage loans and private equity wealth management among other services. According to

James & James(2008), the institution traces its ancestry back to 1904, when its predecessor the

Bank of Italy was conceived in San Francisco by Amadeo Giannini.

The Bank of Italy was established so that it could offer credit finances to immigrants

settling in the United States as farmers. This was after its founder noted that the service was

rendered discriminately by the existing financial institutions to the wealthy people only in the

society. By 1922, Giannini had saved enough money that he used to acquire the Banca dell’itallia

Meridionale. Six years later, Giannini merged Bank of Italy with the BOA whose location was

in Los Angeles after a brief negotiation with its management. The latter’s name was retained as

an indication of commitment towards the welfare of the Americans and has continued to be a

trademark to this date all over the US.