Company Report Wells Fargo- History and External/ Internal Anaylsis

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Wells Fargo is a company known for the financial services it provides its customers. I will start by outlining some basic history of Wells Fargo, giving a general environment analysis, an industry environment analysis, show the internal competence, strategies formed by using matrices and analyses will be shown, and I will conclude with a summary and any additional interesting facts about Wells Fargo. Soon after gold was discovered in “early 1848 at Sutter's Mill near Coloma, California, financiers and entrepreneurs from all over North America and the world flocked to California, drawn by the promise of huge profits. Vermont native Henry Wells and New Yorker William G. Fargo watched the California boom economy with keen interest. Before either Wells or Fargo could pursue opportunities offered in the West, however, they had business to attend to in the East. Wells, founder of Wells and Company, and Fargo, a partner in Livingston, Fargo and Company, were major figures in the young and fiercely competitive express industry. In 1849 a founder of Butterfield, Wasson & Company, entered the express business. Butterfield, Wells, and Fargo soon realized that their competition was destructive and wasteful, and in 1850 they decided to join forces to form the American Express Company.(Loomis)” Soon after the new company was formed, “Wells, the first president of American Express, and Fargo, its vice-president, proposed expanding their business to California. Fearing that American Express's most powerful rival, Adams and Company, would acquire a monopoly in the West, the majority of the American Express Company's directors balked. Undaunted, Wells and Fargo decided to start their own business while continuing to fulfill their responsibilities as officers and directors of American Express.(Loomis)” In the late 1980s, Wells Fargo & Company's major subsidiary, Wells

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