Firm Analysis: American Express Company (Article Sample)
Consider a firm with which you are familiar. Write a short paper on it. Think about your firm historically and comparatively. What’s special about the firm? What do you think about its governance and future development in the next 10 or 20 years? Any critical thought about its business?
Must focus on:
Ownership - shareholders and stakeholders
The board of directors and its functions and leadership
Corporate risks faced by it
Socially responsible investments
Its organization - how it is governed
Way it markets itself
Firm Analysis: American Express Company
American Express Company ranks among the top global financial service providers mainly dealing with credit services. The company’s most selling products and services include charge and credit card products, expense management products and services, consumer and business travel services, and the traveler’s cheques. American Express Company is also involved in the provision of other pre-paid products and services, provides network services for B2B partners, marketing and trend analysis fee prices and also consultation services and customer loyalty programs. The company is considered among those doing well in the global market, with the major achievements being reached with how American Express is managed, operates, and dedicated to serving its clients. It has managed to redefine its strategies in the financial business field thus making the company remain relevant in the global financial market for a long period. The analysis of the American Express Company provided herein focuses on the strategic management and performance structure of the company that has been the steering power to its success in the global financial market.
History and Background Information
American Express Company was originally founded on March 18, 1850, as an American financial corporation, aiming at providing financial-related services to companies. It was formed through the consolidation of three companies with the same objective of enhancing services in the transportation of goods, valuables, and species in the designated places. The major routes of operation were the New York City, Buffalo, New York, and some points in the Midwest. The companies that merged to form American Express Company were the Livingston, Fargo & Company formerly known as the Western Express, Wells & Co, formerly known as Livingston, Wells & Co, and the Butterfield & Wasson Company.
The American Express Company was first formed as an unincorporated association of investors with the headquarters located in New York. The investors were headed by Wells as the president of the company and Fargo as the secretary general. The company managed to flourish in the market under the management of these two founders. At the time the American Civil War was ending, American Express Company had managed to open about 900 offices in 10 states of America (Tikkanen, 2017). This attracted a high competition in the region, resulting in the formation of Merchant Union Express Company in 1866. The tough competition among these two companies in the American financial market resulted to their amalgamation in November 1868, forming the American Merchant Union Express Company which later in 1873 was renamed as American Express Company with the Fargo succeeding as the company’s president.
Currently, American Express Company is leading in issuing of personal, small business, and corporate credit cards in most parts of the world. The most selling services of the company are credit cards, corporate and personal travel planning services, and tour packages. The company provides agency services for hotels and rental reservations in most parts of the United States and globally as well. Currently, the American Express Company is operating in more than 40 countries with the highest rating of the customer's positive responses. The company is also currently producing its own business-related magazines through the newly established publishing division, which is also considered critical in the company’s journey of growth.
Company’s Ownership, Shareholders, and Stakeholders
The ownership of the American Express Company is mainly defined in terms of the number of shares ...
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