Business plan

Business plan

Introduction

Navy federal is a well-known bank of United States of America that was incorporated in year 1933 with the intention of providing quality financial services to navy staff and their families. Since, then the bank has able to accomplish it objectives of providing quality services mainly because of excellent leadership and intent of serving those who risk their lives for the safety of homeland.

Over the years, bank management has adopted the policy of acquiring new land and developing new branches and for that; they were required to seek permission from the board (Cetorelli & Strahan, 2006). However, now the board members has instructed the management that instead of gaining permission for every future investment they would now have to convince us the importance of continuing with this investment policy in the long run.

Discussion

In light of increasing customer demand and extensive competition the management of the Navy federal has adopted the policy of introducing new branches at every corner of the country with the objective of increasing market share and providing its customer with easy excess, quality service, and uncountable financial services that would play a vital role in enhancing their living standard.

Meanwhile, management understand the fact the formation of new branches is not an easy task as it requires huge investment, resources, human resources, management team, and various other elements and thus has decided to present a innovative business plan that would prompt the board members to endow bank the permission of continuing the investment policy in the long run. The innovative business plan presented by the management team of Navy Federal bank comprises of following elements.

Objective of starting a new branch

Since its incorporation Navy Federal has develop a niche for itself in banking industry and is striving hard to increase its market share and ...