Tesla lists electric truck for 150kÂÂ

Tesla lists electric truck for 150k   If you’re a trucker, there’s an exciting new wave of innovation and technology that’s sweeping over your industry- and Tesla is leading the charge. Tesla, headed by company founder and maverick CEO Elon Musk, has been at the vanguard of bold, forward-thinking ideas in recent years, and has decided to take its visionary approach to trucking- and the results are interesting to say the least. Truckinginfo.com has recently published an article that discusses this new truck, which is expected to go into production in 2019- let’s take a closer look.The future of trucks seems to be leading towards electric vehicles, a radical departure from the diesel guzzling behemoths that you’re used to driving. Tesla has recently unveiled it’s new Tesla Semi, which is likely going to usher in big changes in trucking. It has a rather steep base price- $150,000 for the base model- but considering that the average price of a truck with an internal combustion engine typically sells for around $100,000, it isn’t too far outside of the typical range that a trucker would expect to pay for a new vehicle- and owners of the new Tesla Semi can expect to see cost savings in terms of reduced fuel consumption. Furthermore, according to an article by DC Velocity, â€Å"Musk told a webcast audience that the vehicle will pay for itself in two years when compared to the cost of a diesel tractor, citing savings in the electric truck’s ability to outperform diesel-powered trucks in aerodynamics, reliability, and fuel.†What will you get with this exciting new base model? You’ll get a durable, reliable long-haul vehicle that’s designed to have a 300-mile range between charges (if you’re looking for something with a longer range, a $180,000 version that can go up to 500 miles between charges was recently unveiled). According to Tesla, the new Tesla Semi will have a cargo capacity similar to its diesel counterparts, witho ut a significant weight increase compared to the average Class 8 truck.If you’re wondering how confident Tesla is in the viability of their new trucks, how’s this for a vote of confidence: Jerome Guillen, Tesla’s vice president of trucks and programs, recently announced during an electric truck confidence in Europe that Tesla would be its own first customer. That’s right- Tesla will utilize its brand-new Tesla semi to haul its own products and cargo between its Freemont California facility and its Gigafactory just outside of Reno Nevada (in case you’re wondering, that’s an approximately 260 mile route).If you’re interested in getting behind the wheel of this new rig, Tesla is accepting early reservations for the Tesla Semi- provided that you’re willing and able to plunk down $20,000 for a reservation. If money isn’t a major problem for you, Tesla is also offering a limited-edition Founder Series truck model (just 1,000 v ersions of this truck will be released), with more bells and whistles than the base model- but it also requires that you put down a $200,000 reservation.If you’re among the lucky few who gets to drive one of these new Tesla Semis, one things for certain- you’ll catch the attention of other drivers on the road!

The 7 Personality Traits that Can Destroy Your Career

The 7 Personality Traits that Can Destroy Your Career Of all the things you think may destroy your career, you probably didn’t expect your own personality to be one of them. But while some character traits are innate, others are under your control. It’s up to you to tend your own garden- rip out the weeds and plant seeds for stronger, better plants. Whatever you do, make sure to keep an eye out for these 7 traits, which can really put a damper on your career.1. NarcissismMost people you work with are going to be able to tell if you’re an insufferable narcissist. You have an aversion to teamwork? Your colleagues can tell. Remember: your pain, your annoyance, your moods, and your bad day are no worse or more important than anybody else’s. Try to think about others every now and then. Your career will thank you.2. Complaining After the FactYou’ve had a meeting and things have been debated and discussed thoroughly. If you didn’t speak up then, you’ve forfeited your right to speak after. If yo u don’t have the guts to voice your opinions or contribute in the meeting, then keep your complaints to yourself.3.  Ignoring Your TeamDon’t pretend that you’ve done everything yourself with each small victory. Most workplace accomplishments are not solo ventures. Thank the people that helped you score those victories. Don’t ever be the guy who says â€Å"that’s not my job.† Pitch in! And never never throw anyone under the bus.4. GossipingNobody loves a gossip. You might make a few shallow friends fairly quickly at the water cooler, but you won’t keep them, and you could get yourself in real social and professional trouble.5.  Constant ComplainingNobody likes a pessimist. Start counting the number of times you complain or say something negative in a day. If it’s more than 3, you have a problem. If it’s more than 30, you’re well on track to being the most hated dude in the office.6. CrudenessYou don’t ha ve to be Suzy Perfect, but you should try to keep a little decorum. Try not to be flatulent or curse so much that no one wants to be around you. Be a force for good in your office!7.  Excessive SarcasmBe generous and nice. If you feel the urge to be sarcastic or snide, hold it back. There is a way to be a good person and make people laugh. Try not to get your way or get a laugh at anybody else’s expense.If you have any one (or more) of these traits, it might be time to start thinking about how to prune your bad angels and start watering your good ones.

Assignment 6 Essay Example | Topics and Well Written Essays - 500 words - 2

Assignment 6 - Essay Example Thus, this will basically explain how we each deal with emotions. There are many factors that explain the universality of emotional expression in various cultures. These factors are expression, perception, experience, antecedents, appraisal, and concept. These factors basically shape who we are. Charles Darwin gave us the basis on which to discover the universality of human emotion. He suggested that facial expressions, like other behaviors, are biologically innate and evolutionary adaptive. And humans express emotions in their faces in exactly the same ways around the world regardless of culture or race. In this he was right. Culture plays a major role in how we react to different situations daily. Whether these situations are social, business, with family, with friends, or with strangers; we react differently. We use cultural display rules to help guide our reactions to each and every situation that we are in. These rules are learned early in life and by adulthood our reactions to these rules are pretty much automatic. Thus, facial expressions of emotion are under the dual influences of universal, biologically innate factors along with culturally specific learned display rules. Furthermore, when the displays rules do not apply to the situations, the innate universal facial expressions tend to come forth. That explains why people can differ in their emotional expression despite the fact that out expressional base is all the same. Culture has shown me that our expressions can vary. However, the value of morality that I choose to uphold allows for my general reactions to various situations to be somewhat different than other people. I choose to go with a more Christian value base and a more professional base when I am at work. I try to be friendly to everyone that I meet. Thus, I am generally regarded as a dependable person and a well liked person. I feel that culture is now more degrading a person than ever before in my life. Thus,

Philosophy of Education Essay Example | Topics and Well Written Essays - 1250 words

Philosophy of Education - Essay Example I believe that Education is the key to success and it is through education that a person receives the fundamental skills and tools that are important in building a life that is successful and prosperous. The quality of education in a country will determine the level of its success and prosperity. Therefore, as a teacher I believe that it is important for every child to receive quality education. Although quality in education is something that cannot be achieved by the teachers only, I believe teachers play a major role in improving the education quality of a country. To improve the quality of education, teachers, parents and all stakeholders in education must work together. Quality in education includes the health and participation of learners, support from family and community, availability of good learning environment, content that is relevant in real life situations and teacher’s organization and proficiency. As a teacher, I believe that everyone has the ability to learn. However, for effective mastering of concepts and skills, a student must show interest in learning and willingness to participate in the learning activities. My work as a teacher is to provide good learning environment in the classroom and improve the quality of education. The arrangement or organization of the classroom can improve or inhibit learning depending on the learning patterns of each child. Therefore, by accommodating the students’ different patterns of learning, the teacher creates an environment that is conducive for learning. Although education has always been associated with economic growth, I believe that with better quality education the economic retu rns can be much higher. It is also evident that increased investment in education increases political stability, democratization, improves the health of the people and reduces poverty and inequality. Thus, I am strongly convinced that it is the role of teachers to ensure that the education provided in schools is of good quality so as to realize the maximum benefits of quality education. Young minds are very critical and delicate, and teaching them is challenging and frustrating. Any indication by the teacher that he or she is not interested in a particular subject or area of study and lacks passion for learning will make the children to lose interest in the same. A teacher must convince the children of his or her knowledge and expertise for them to be willing to learn and show interest in learning. My job, as a teacher is to develop an environment that promotes learning. I am a teacher and an instructor because I posses the passion for guiding children through the process of learnin g and one of the best ways of fostering learning is to show the children these feelings I hold over education. I promote learning by providing a relaxed atmosphere for children, stimulating conversations on presented ideas and organizing ideas in an easy way that can be understood by the learners. I believe subject matter are interconnected thus I emphasize that everything that people learn form a world of understanding from which they develop their personal views. I also believe that showing respect to my students is important because it encourages them to be open and inspires them to respect each other and all other people. My method of teaching is that which acknowledges diversity in teaching methodologies and techniques. I believe that hands on and minds on learning are important because supplementing curriculum with other activities promotes the learning process. I am certain that by involving the learners in fascinating lessons and making use of strategies which address their learning styles, they can achieve success in academics and have self confidence in the learning process. Learning only takes place when the children are fully engaged in the learning process, are personally connected to the concept taught and use the knowledge acquired in real life situations. Therefore, when this happens a child is encouraged to be engaged over and

Genre Text Essay Example for Free

Genre Text Essay When you think of the term ‘genre’, what does it exactly mean to you? Well I’m sure it’s without a doubt that you all commonly believe it constitutes either a kind or category of text, but in actual fact does it really? Good morning Year 11. The prime focus of your studies during the HSC course next year, I’m going to discuss how the genre of crime fiction has extended through time, whereby a variety of notions and characteristics exhibited throughout a text may either reinforce, challenge or extend on genre parameters. So what is genre then? Although genre is quite difficult to define, there are numerous interpretations of the term since the confines between genres are constantly evolving due to changing values. As Daniel Chandler states, â€Å"defining genres may not initially seem particularly problematic but it should already be apparent that it’s a theoretical minefield. † However, Jane Feuer believes â€Å"genre is ultimately an abstract conception. † These critics therefore prove that yes, while it may be easy to classify a text to a particular genre, we must understand genre as a concept that can apply to varying applications rather than its fundamental relevance to a text. In saying this, as changing contexts and values have developed over time, resulting in new-found conventions, I’ve come to agree with Stephen Neale’s understanding; â€Å"Genres are instances of repetition and difference difference is absolutely essential to the economy of genre. † (Neale, 1980). This my friends, effectively reflects constant changing cultural values and attitudes in our social milieu, don’t you think? Hence, my aim today is to focus on the conventions of the genre of crime fiction and how they have been recreated in a number of ways to reflect the social and cultural aspects that are dynamic to their survival within the popularity of a text. As Neale further suggests, â€Å"genres exist to assist in shaping values. † Subsequently, I will discuss how and why Alfred Hitchcock’s film Rear window and Tom Stoppard’s play The Real Inspector Hound have re-worked and extended upon crime conventions prevalent in crime writing through genre, often defying audience expectations in one way or another. As a result, Rear Window highlights and expands upon the cosy conventions of its contemporary society by paralleling the post-war issues of voyeurism and women and subverting them, reflected through its social milieu. The Real Inspector Hound also utilises cosy conventions but parodies them instead, challenging the classical Golden Age’s ‘whodunit’ storyline in a satiric way, so as to query the restoration of justice and the idea of reality vs. allusion. Thus, whilst both texts seek to extend and challenge crime conventions, they also serve to explore society’s human conditions and issues at the time in order to become seminal texts of the genre. Directed in 1954, Hitchcock’s Rear Window reinforces the fact that very few works exemplify all required characteristics of a particular genre, by cleverly breaking the ideal conventions of a suspenseful circumstance in a crime fiction text. The film is rather based around the notion of both solving the crime and proving that it happened. Rear Window further revolves around the concepts of the changing roles of women and queries the morality of voyeurism. Such notions reflect the contextual concerns of the post-war era where a revolutionary social change was clearly prevalent in society, thus endangering the traditional gender restrictions marked by WW2. Through the mis-en-scene of Jeff holding his camera looking outside the window as blinds are swiftly raised to reveal vignettes of apartments, it’s evident that a didactic message outlining the unethicalness of voyeurism is contained within Rear Window. As voyeurism further exposes hidden worlds within the film, Hitchcock manages to reflect upon American society through each of these blocks acting as a microcosm. But it stops there. Quite similarly to our other text The Real Inspector Hound, Hitchcock withdraws from typical crime conventions by not showing the occurrence of the crime itself. This was due to growing conflict between the conservative American government and growing acceptance to sexuality by society at the time, as a result of censorship on films. The concept of voyeurism is cleverly employed by Hitchcock via subverting a cosy setting, a convention to reflect the concept of McCarthyism where there was a fracturing of society due to the paranoia of communism, which was most prominent during the Golden Age. This is illustrated as the camera pans across Jeff’s apartment, focusing on his photography tools and emphasising his infatuation for observing life. Thus, Jeff’s dilemma of being entrapped in his apartment persuades him to do â€Å"something drastic† to remove him â€Å"out of the swamp of boredom,† which metaphorically foreshadows his forthcoming hobby of spying on his neighbours. I’m certain you all must think he’s strange, but the aspect of social insecurity and fear at the time was what Hitchcock was seeking to embody. Where spying begins as an innocent obsession, it soon becomes a neurotic effort to prove Thorwald’s criminal actions. Therefore, after the growing tension depicted through continual panning shots, Jeff takes action which exposes clues in Thorwald’s apartment. However, the consequences of voyeurism are made apparent through the non diagetic sound and quick motion of Jeff falling out the window. Hitchcock hence questions the moral ambiguity of voyeurism due to society’s fear of maintaining social order, by focusing on the depraved aspect of society becoming â€Å"a race of peeping toms. † Despite changing perceptions of females in the workforce, how exactly did Lisa become an amateur detective and femme fatale, whilst presenting the evolving independance and roles of women? In actual fact, Hitchcock broke a key crime convention – there must only be one detective! A high angle shot first characterises Jeff as bound to his wheel chair, and the cast around his injured leg is symbolic of the identity boundary he endures. Consequently, Jeff is left helpless, a frequent motif that’s prevalent throughout the film in which Jeff is metaphorically incapable of embracing his male dominance, hoping to â€Å"emerge from his plaster cocoon. † Thus when Lisa emerges, the dark lighting and shadows surrounding her signifies Jeff’s intimidation, as men were startled by the role of women in the post-war period. By having Jeff restricted at home in a feminised position, Hitchcock underpins Lisa as the amateur sleuth, sustained through her constant dominance over Jeff within the framing. Hitchcock further challenges the authority of women in crime fiction as femme-fatales, whereby negative connotations strengthen the presence of conceited masculinity. Yet Lisa’s strong persona and sheer determination leads to her fatal participation in â€Å"the next assignment,† exhibited in the panning tracking shot of her investigating Thorwald’s apartment, underlining Lisa’s unusual role as a detective and the film’s conclusion of restoration. Subsequently, Hitchcock illustrates the development of crime conventions by challenging traditional crime conventions, via representing the shift in the growing independence and role of women in society, by maintaining both genders as main detectives. Thus, Rear Window not only reinforces and extends upon crime genre parameters, but also reflects society’s changing values, hence explaining why it’s considered a critical crime fiction text even today. Unlike Hitchcock who reinvented some crime writing rules, Stoppard completely goes against them. Whilst Stoppard experiments with the classical Golden Age crime conventions, the crime genre is seen to continuously mirror society’s changing attitude and values. In successfully challenging the audience to interpret whether the perceived distinction between what is real and an allusion in crime is essential, Stoppard also leads them to question the restoration of justice. The perceived distinction between reality and allusion is no longer relevant in today’s post-modern world as it was in the Golden Age, due to changing societal expectations, like Stoppard suggests. He breaks traditional conventions, as the margins of a play-within-a-play have been intersected, demonstrating the blurring of reality. Whilst Rear Window uses a cosy setting to depict society’s issues, Stoppard instead parodies it to demonstrate that a crime isn’t always within its confines, and hence defies crime conventions to outline the irrationality of society. The cosy method of contrivance supports this, being parodied through Mrs. Drudge’s absurd dialogue about the â€Å"somewhat isolated Muldoon Manor, which is surrounded by deadly swamps and fog. † Thus Stoppard criticises S. S Van Dine’s code where â€Å"the detective himself† â€Å"should never turn out to be the culprit,† by forwarding the murderous role onto Puckeridge, whom the audience come to learn as Inspector Hound and Magnus also. This is depicted in the final scene through an exaggerated climax of a string of revelations. For eg. â€Å"I am not the real Magnus Muldoon! It was a mere subterfuge. † Stoppard effectively emphasises the melodramatic and absurd situation of the play, by demonstrating multiple pauses and an overuse of explanation points in union with stage directions. Through a variety of dramatic devices, the distinction between reality and allusion is dissolved, as Stoppard denounces the lack of innovation and irrelevancy of crime fiction conventions. Society is further challenged by Stoppard to query the relevancy of the nature of truth and justice within the traditional crime fiction genre. So must there always be a hero within the context of the text? The authorities within the play are not central figures, just like the police aren’t in Rear Window, as justice isn’t achieved. But whilst the police in Rear Window are idiotic, Inspector Hound doesn’t even convey detective traits. Alternatively, Inspector Hound is continuously ridiculed through stage directions. For eg. He is wearing â€Å"inflatable swamp boots and carrying a foghorn,† in his entrance. Therefore, The Real Inspector Hound has eloquently challenged the conventions of crime fiction, leading the play to become a significant crime fiction text as it crucially contributes to the revolution of crime over time. In summation, it’s without a doubt that Hitchcock’s Rear Window skilfully challenges the conventions of crime fiction in such a way that classifies the film as unlike your traditional crime film, as he endeavoured to reflect the cultural values of the post-war era. Moreover, Stoppard also extended upon genre parameters in The Real Inspector Hound by satirising the classic conventions of characters and plot from the Golden Age, whereby he duplicated postmodernist beliefs at a point where it was seen as time for change. Thus, both texts have grown to become seminal crime fiction texts, by cleverly reinventing already established crime conventions in numerous ways.

T.S. Eliots use of Poetic techniques in The Lovesong of J. Alfred Prufr

T.S Eliot, widely considered to be one of the fathers of modern poetry, has written many great poems. Among the most well known of these are â€Å"The Waste Land, and â€Å"The Love Song of J. Alfred Prufrock†, which share similar messages, but are also quite different. In both poems, Eliot uses various poetic techniques to convey themes of repression, alienation, and a general breakdown in western society. Some of the best techniques to examine are ones such as theme, structure, imagery and language, which all figure prominently in his poetry. These techniques in particular are used by Eliot to both enhance and support the purpose of his poems. The theme of Prufrock is the negative, individuality repressing effect that society has on its people. The Prufrock persona illustrates this, he is alienated by the inane social rituals that define his life, â€Å"I have measured out my life with coffee spoons† and make it insignificant and useless. The Waste Land’s theme is that the world, in particular western civilisation, is a culturally and spiritually barren place. Society is portrayed as a pile of â€Å"†¦stony rubbish†¦Ã¢â‚¬ , the ruins of a once great city now reduced to rubble where nothing can grow. Lives mean nothing, but the poem also offers hope through a return to basic religious values, ending with the repeated chant of â€Å"Shantih shantih shantih†, which means, â€Å"the peace which passeth understanding†. The poems both portray the same basic idea, but they have two main differences. Firstly, there is the way in which the themes are expressed. In Prufrock , Eliot uses a pers ona as an example of the debilitating effect of living with so many expectations, rules, standards and meaningless rituals has on a the individual. In many ways, this is a very effe... .... Figuring very prominently is Dante, with the epigraph in Prufrock an exact quote from Inferno, and more subtle references found in The Waste Land that are very suggestive of a Dantean descent into hell. Dante, and to a lesser extent Joseph Conrad, from whom Eliot derives a certain amount of horror, which subtly complements his themes, have had a profound impact on Eliot’s writing. He chooses to quote or allude to parts of other works that complement his own. The techniques used by Eliot in creating both The Waste Land and Prufrock, are used in largely similar ways as far as furthering his purpose, yet differ slightly in style or small alterations when examined more closely. Some techniques, such as imagery, are more similar than others. Though he may use devices differently for each poem, it is only in such a way that makes them unique, and conveys his purpose.

Wells Fargo Analysis

MERCK & COMPANY INC.1. The marketing mix A. Product / Service Wells Fargo is an American bank that provides financial services to its customers throughout North America and Internationally. Our marketing mix starts with the description of the service mix of the firm Wells Fargo. This company gathers different ranges of services offered to the market place to meet the customers’ needs and expectations. Wells Fargo counts nine different kinds of bank services to compete in the financial industry.Ranges of services: Banking (Debit, credit card, Checking and saving account) * Brokerage (Facilitate the buying and selling of financial securities) * Insurance * Wealth management * Retirement services * Investments * Mortgages (4000 in 2009) * Consumer finance services (financial advice) * Well Fargo’s Financial Securities: Security business (merger advice, stock and bond underwriting, loan syndications, and fixed-income trading) B. Price We do not have any information about th e price of the services in the case study. C. Place Wells Fargo has a wide presence throughout the US territory.Headquartered in San Francisco, the company is decentralized to provide an optimization of the geographical coverage. Therefore, every local Wells Fargo store is like the headquarter for satisfying all their customers. The decentralization is an effective strategy when a company tries to have an effective wide presence on any market. This strategy has made the success of many of the Scandinavian organizations or institutions. Indeed, it allows any company, like Wells Fargo to get closer to its customers and be able to understand and meet better their needs and expectations.As we can see from the case, the company is doing well with its distribution and the customers service in general, it has even been rewarded Retail banker of the year according to US Banker. Consumers want and need a bank office near to the place where they live or where they work. The bank company must be strongly present in the quite big city and in the metropolitan area where the demand for the financial services is important. That is why Wells Fargo has developed a wide distribution, in the US domestic market, throughout more than 6,700 retail stores in 40 states in widely in North America.The acquisition of Wachovia is a part of a new distribution strategy to reach more consumers with an extended presence on the market. Now, Wells Fargo has branches almost all the states from the East to the West both in the North and the South. This acquisition has allowed Wells Fargo to extend its presence in the Eastern part of the US, which represents a huge part of the financial market. Indeed, Wachovia had a strong presence in the part of the US especially in Connecticut, Florida, Virginia, North and South Carolina. 6,700 Banking Stores: 3,296 US Wells Fargo Banking stores * 3,314 US Wachovia Banking stores * 90 Other financial branches Finally, in addition to the classical distribution channel, Wells Fargo use the electronic distribution with its online website where customers can be informed and have an access to some services like checking accounts, make wire transfer, plan a rendezvous with a financial adviser†¦ D. Positioning Without information about promotion, we chose to develop a part about positioning that is, in fact, a sub part of the promotion.In marketing, positioning is the process by which marketers try to create an image or identity in the minds of their target market. Positioning on the global market with a presence in Canada, in the Caribbean, Latin America and other countries, Wells Fargo is especially focused on the US national market. In 2008, after the acquisition Wachovia, a Wells Fargo’s press release said that the company was:† the most Extensive Financial Services company, Coast-to-Coast in community banking†. Wells Fargo is widely recognized in the financial industry.The company has built a very credible reputatio n with its promotional campaigns, its track records and the customer loyalty. The statistics based on the industry and government sources clearly show its size and brand image: * 41st revenue among all US companies ranked by Fortune * 17th most profitable company in the US * 33rd Largest employer in the US * 18th most respected company in the world as ranked by Barron’s * â€Å"AAA† credit-rated by Moody’s * The only standard & Poor’s AAA bank in the US * Among the top 50 companies as ranked by Diversity Retail Banker of the Year according to US Banker * Number-one commercial real estate lender * 18th among the world’s most valuable brands according to the Financial Times Wells Fargo tries to communicate to its customers, how much they are important for the company, saying that they are the center of everything they do. The mission is now to improve the quality of the services. Indeed, the company is, according to the CEO, Mr. Kovacevich, enough de veloped and enough big. The services are now provided with an easy access for the consumers.Now the direction to take is the quality provided: â€Å"We are a big company. We will continue to grow – not to become bigger but as a result of getting better†¦ Regardless of how big we are and how much territory we cover our team shares certain values that hold us together wherever we are and whatever we do†. Wells Fargo puts considerable emphasis on its culture in brand image toward the customers. It wants to be known as a financial partner, for outstanding services and sound financial advice, satisfying all of their financial needs and helping them to succeed financially.The company even considers its customers as friends. However, the company, does not only communicates to its customers but also with: * Its employees, telling them how much they are important for the company. Indeed, Wells Fargo wants to be known as a company that believes in its people as a competitiv e advantage over the competition, a great place to work, and as an employer of choice that really care about them * Its communities, promoting the economic advancement of each partners including those not yet able to be economically self-sufficient.Being seen as a community leader in economic development, in services that promotes economic self-sufficiency, education and social services is a necessity. * Its shareholders, insuring them that investing in Wells Fargo will be a great investment with financial results among the entire Fortune 500 and with the Moody’s credit-rated of â€Å"AAA† (the highest possible one) 2. Customer’s Analysis and Target Market The Wells Fargo’s target market gathers more than 25 million customers across the USA, and internationally.Demographically, the firm does not really have a specific target, and wants to provide financial services to all consumers who need either rich people or those who have financial difficulties. Geog raphically, the customers are divided up over 40 US states out of the 55. Mostly located in the metropolitan area, they are concentrated near the cost (both East and West). However, Wells Fargo, still provide its services in the less dense areas, where people need to have an access to a bank for community banking services.About buyer motivations and expectations, we noticed that customers are looking for efficient, reliable and adapted financial services and advice from the company. They expect good quality services and want from the bank the ability to meet their needs and expectations. Wherever they are, the consumers need to have an easy access to financial services in the bank office and in the Internet as well, where customers check their different bank accounts and transactions. Wells Fargo is specialized in different segments where it is one of the top companies, if it is not the top one.The most important segments are the homeowners, the small businesses, the agricultural bu sinesses, the debit card users and the prime home equity. In these segments, the company is performing very well, providing good quality services and good customer service which allow the company to constantly increase the customer loyalty, being able to keep its customers from the competitors. However, it does not mean that the others are abandoned. Wells Fargo really tries to emphasis that all customers are important, from the consumer banking over lending to the big institutional client. 3. SWOT MatrixThe SWOT Matrix is an important matching tool that us to develop four types of strategies for Wells Fargo: * The SO (Strengths-opportunities) strategies use a Wells Fargo’ internal strengths to take advantage of external opportunities. * The WO (Weaknesses-opportunities) strategies aim at improving internal weaknesses by taking advantages of external opportunities. * The ST (Strengths-threats) strategies use a Wells Fargo’s internal strengths to avoid or reduce the imp act of external threats. * The WT (Weaknesses-threats) strategies are defensive tactics directed at reducing internal weaknesses and avoiding external threatsStrengths 1. Brand Image and Culture and values (ethical behavior) 2. Credibility 3. Statistics based on the industry and the government sources show its size and strength 4. Acquisition of Wachovia: extension of the distribution channel and the number of customers 5. Decentralization strategy 6. Strong position in the markets involved in 7. Management: 8. Innovation leadership (Internet: E-commerce) 9. Market leadership in the West: the largest financial institution headquartered in the Western US that has a strong balance sheet and is able to steer through the pitfalls that plagued many of its competitors 10.The new products like the Wells Fargo Securities took from Wachovia securities business 11. Moody’s credit rate â€Å"Aaa† (the highest possible) Weaknesses 1. Decrease of the net income and ROA and ROE 2. L imited international presence 3. Bad reputation as a bank since the economic recession 4. Weakness asset quality among high real estate exposure 5. The Wachovia subprime mortgage problems 6. Overcommitted in credit default swaps 7. High amount of goodwill ($23 billion) Opportunities 1. Many banks are struggling like Citigroup with negative Operate margin (-57. 9%), Net income ($ -23. 9 Billion), and EPS (-3. 651) 2. Some Banks have recently failed and have been seized by Federal officials like Lehman Brothers Colonial Bank and Guaranty Financial group: Delinquency rates on their holdings has soared as high as 40% -> Decrease the competition 3. Grow internationally 4. Keep improving the internet uses 5. Develop new products for new businesses SO Strategies| WO Strategies| 1. Develop new internet applications and services for customers (S8, O4) 2. Increase promotions to attract more customers (S1, S2, O1, O2) 3. Open branches in foreign markets (S1, S3, O3) 4.Get closer to the custome rs needs and develop loyalty programs (S2, S5, O6)| 1. Advertising campaign to reassure the consumers (W3, O1, O6) 2. Open branches in foreign markets (W2, O3) 3. Develop alternative services to diversify the ranges and not focus and mortgages (W4, O5)| ST Strategies| WT Strategies| 1. Develop completive services and use competitive advantages to gain market share (S3, S5, T7) 2. Take advantage of the lack of regulation 3. Develop a strong customer loyalty database (S4, S5, S6, O7, O8)| 1. Develop alternative services to diversify the ranges and not focus and mortgages (W4, W1, T4) 2.Charging lower interest rates to the customers (W1, T1)| Threats 1. Continued deterioration in the housing and credit market 2. High unemployment rate 3. Tight credit 4. Many homeowners cannot make mortgage payments 5. The value of houses has dropped the amount borrowed -> great problem for owners and banks 6. The lack of regulation today has blurred the product and services bank offers 7. Competition w ith Bank of America and Citigroup 8. Superregional and International Banks are growing, they all tend to expand globally 9. Assurance rates increase 4. Industry and Competition analysisThe financial industry counted nine main players before the economic crisis in 2008, which meant height potential competitors for Wells Fargo including Bank of America, Citigroup, US Bancorp, Merrill Lynch, Morgan Stanly, Lehman Brothers, Colonial National and Guaranty Financial Group. The economic recession has eliminated the weak banks that were not doing well enough to overcome the outcomes of the economic crisis, like Lehman Brothers, Colonial Bank and Guaranty Financial Group. Furthermore, an economical selection has been made and only the best banks are still competing on this industry.The industry is currently suffering from the economic recession and all of its outcomes including the deterioration of the housing and credit market, high unemployment rate, and tight credit. That is why many bank s, especially the community banks, are struggling and some even have failed, including Colonial National, and Guaranty Financial Group. Moreover some Banks like Citigroup are not performing well by loosing money and market share. Guaranty had more than $3 billion of securities baked by adjustable-rate mortgages.The bank has seen the delinquency rates on holdings soared by 40% before the federal officials seized the bank in August 2009. As we can see from the chart, in term of revenue Wells Fargo is not the best financial service company. Until 2007; Citigroup was the leader in sales but the economic crisis and the recession that have followed this crisis has led to a sharp decrease of its sales. Since 2008, Bank of America is the leader in sales and the stronger competitor for Wells Fargo. However, its sales are fluctuating whereas the Wells Fargo’s sales show a slow but steady rise.This chart displays the evolution of the net income of the three main companies including Well s Fargo, Citigroup, and Bank of America. Wells Fargo was the last company in 2007 before the economic crisis in term of net income. However, we can see that the two competitors are not doing well enough to keep being competitive, especially Citigroup, which had a decrease of 210. 7%. All of the companies have seen its net income decreased but Wells Fargo has the slightest decrease which allow it the to have the highest net income in 2009 and shows by the way its capacity to overcome though situations. 5.Type of strategies Wells Fargo shows the desire to take part in the top financial companies in the domestic market. This is one element from their long-term strategies. This desire to compete with the market leaders such as Bank of America represent the results expected from pursuing certain strategies. According to this case, we can say that Wells Fargo is pursuing a market development and market penetration strategy, introducing present services into new geographic areas. This stra tegy, has particularly led to the acquisition of Wachovia and the extension of the Wells Fargo’s presence to the Eastern US.This market development strategy has required intensive effort for Wells Fargo in terms of investment and management. This strategy basically involves introducing present products or services into new geographical areas. Here by acquiring Wachovia, Wells Fargo can use a strong presence through the Wachovia’s distribution. The firm’s competitive position was clearly to improve compared to the market leaders. However, the company was rather successful at what it does before the acquisition, which was a primordial condition prior to such acquisition.Then but not least, it already had the needed capital and management quality to manage the expended operations. With this acquisition, the firm has a huge distribution capacity throughout all of the Wachovia’s bank offices and retail stores. Combined with the strategy of decentralization, th is will allow them to reach more consumers and increase the productivity. The year 2009 shows a quick preview about what the firm can achieve in the next years. The acquisitions or mergers are two commonly used ways to pursue strategies like market development or more generally intensive strategies including, market penetration and product development.The market penetration consists in increasing market share for present products or services in present markets through greater marketing efforts (increase number of salespersons, advertising expenditures, promotion, and publicity efforts). Then, the product development strategy seeks increase sales by improving or modifying existent products or services (it entails large research and development expenditures). A merger occurs when two organizations of about equal size unite to form one enterprise. That is what often happened in the Wells Fargo’s history and what helped the firm to grow faster and reach the size the firm had in 2 008.On the other hand, an acquisition occurs when a large organization like Wells Fargo purchases a smaller firm or a firm not doing well, like Wachovia. By acquiring Wachovia, Wells Fargo has realized some major benefits: * Provide improved capacity utilization * To gain access to new customers and products 6. SPACE Matrix The Strategic Position and Action Evaluation (SPACE) Matrix, is a marketing tool used to help the company to define the best strategy to develop according to its internal strategic position (Financial Position and Competitive Position) and the external strategic position (Stability Position and Industry Position).The four quadrants of the Matrix indicate whether aggressive, conservative, defensive, or competitive strategies are most appropriate according the characteristics of the company and its industry. Financial Position * The bank’s return on asset is 0. 44 (decrease of 72%) but superior of all competitors * The Bank’s Net income was 3. 58 Bill ion (increase of 28%) and superior of all competitors * The Bank’s revenue was 42. 84 Billion (increase of 1. 51%) compared to the industry average of 7. 98 Billion * The Bank’s earning per share 0. 912, over the main competitors and over the average industry (0. 91)Total| Rating465520|Industry Position * Deregulation provides geographic and service freedom * Deregulation increases competition in the banking industry * Economic recession * Growth potential * Financial Stability Total| 4213410| Stability Position * Banking deregulation has created instability throughout the industry * Less-developed countries are experiencing high inflation and political instability * The barriers to entry into the market is high * The competitive pressure is highTotal| -4-4-2-4-14| Competitive Position * The bank provides financial services through 6700 offices and retails stores in 40 states * Superregional banks, international banks are becoming increasingly competitive * The bank ha s a large customer base * Customer loyalty Total| -1-5-2-2-10|According to the SPACE Matrix, Wells Fargo presents an aggressive profile. The company is financially pretty strong, has some competitive advantages in a rather stable industry. The Wachovia acquisition is a great operation following the product development or market penetration strategy. 7. External Factor Evaluation Matrix (EFE) Regardless of the number of key opportunities and threats included in EFE Matrix, the highest possible total weighted score for an organization is 4. 0 and the lowest is 1. 0, and the average total weighted score is 2. 5. An organization with 4. 0 total weighted score is responding in an outstanding way to existing opportunities and threats in its industry.It means, the firm’s strategies effectively take advantage of existing opportunities and minimize the potential adverse effects of external threats. Key External Factors| Weight| Rating| Weighted Score| Opportunities: * Many banks are s truggling like Citigroup with negative Operate margin (-57. 9%), Net income ($ -23. 79 Billion), and EPS (-3. 651) * Some Banks have recently failed and have been seized by Federal officials like Lehman Brothers Colonial Bank and Guaranty Financial group: Delinquency rates on their holdings has soared as high as 40% * Grow internationallyKeep improving the internet uses * Develop new products for new businesses * New customers in the Eastern US financial market| 0. 090. 120. 050. 040. 070. 11| 342423| 0. 270. 480. 100. 160. 140. 3| Threats: * Continued deterioration in credit market * High unemployment rate * Tight credit * Many homeowners cannot make mortgage payments * The value of houses has dropped the amount borrowed * The lack of regulation today has blurred the product and services bank offers * Competition with Bank of America and Citigroup * Superregional and International Banks are growing, they all tend to expand globallyIncrease in insurance rates | 0. 100. 030. 070. 050 . 110. 060. 050. 030. 02| 222323423| 0. 200. 060. 140. 150. 220. 180. 200. 060. 06| Total | 1. 00| | 2. 80| Here we can note that the total weighted score is of 2. 80 is above the average of 2. 5, which means Wells Fargo is doing pretty well in the Financial industry, taking advantage of the external opportunities like the bad shape of the competitors and also containing the threats facing the firm like the competition with Bank of America. Of course, the firm could do better, improving its strategies to respond in better way to the threats and get a higher total weighted score close to 4. 0.According to the case, Wells Fargo should expand more its activities on the international market, and develop new financial products and services to be more attractive and competitive. Moreover, the firm must find solutions to overcome the bad state of the economy and its outcomes. 8. C. Internal Factor Evaluation Matrix This strategy-formulation tool summarizes and evaluates the major strengths and weaknesses in the functional areas of business. Like in the EFE Matrix, the total weighted score can range from a low of 1. 0 to a high of 4. 0 with an average score being 2. 5. Total weighted scores well below 2. 5 characterize organizations that are weak internationally whereas scores significantly above 2. 5 indicate a strong internal position. Key External Factors| Weight| Rating| Weighted Score|Strengths: * Brand Image and Culture and values (ethical behavior) * Credibility: Statistics based on the industry and the government sources show its size and strength * Acquisition of Wachovia: extend the distribution channel and the number of customers * Decentralization strategy * Management * Innovation leadership (Internet: E-commerce) * Market leadership in the West: the largest financial institution headquartered in the Western US that has a strong balance sheet and is able to steer through the pitfalls that plagued many of its competitors * Moody’s credit rate  "Aaa† (the highest possible)| 0. 070. 090. 110. 100. 060. 040. 090. 04| 44443343| 0. 280. 360. 440. 360. 180. 120. 360. 2|Weaknesses: * Decrease of the net income and ROA and ROE * Limited international presence * Bad reputation as a bank since the economic recession * Weakness asset quality among high real estate exposure * The Wachovia subprime mortgage problems * Wachovia is overcommitted in credit default swaps| 0. 080. 060. 080. 060. 070. 05| 212212| 0. 160. 060. 160. 120. 070. 10| Total | 1. 00| | 2. 89| The IFE Matrix provides important for strategy formulation. With a total weighted score of 2. 89, we can say Wells Fargo has a pretty strong position in the financial industry and can expect to become stronger and stronger because the firm knows how to create competitive advantages and how to use its strengths. 9.IE Matrix The IE Matrix is based on two key dimensions: the IFE total weighted scores on x-axis and the EFE weighted scores on the y-axis. The Internal External Matrix inputs are the EFE and IFE total weighted scores. As the EFE Matrix and the IFE Matrix have shown, Wells Fargo had 2. 89 for EFE and 2. 80 for IFE. In the IE Matrix, we can see the red dot represents Wells Fargo’s position on the Matrix. It is in the V cell, which suggests that Wells Fargo should use a hold and maintain strategy consisting of the Market Penetration and Product Development strategies; it should the most efficient strategy for the firm after the stage of the acquisition.However, the firm is very close to the cell I, II, and IV, which means the company’s situation can be descried as slow growth and build and where intensive strategies would be the most adaptable like market penetration and market development. 10. Grand strategy Mix The Grand strategy matrix is based on two evaluative dimensions: competition position and market growth. Wells Fargo is located in the Quadrant I of this Matrix, which means that it is in a rather excellent strategic po sition. Therefore, continued concentration on current markets (market penetration and market development) and products (product development) is an appropriate strategy. We can notice that a notable shift from its established competitive advantages would be unwise. Rapid Market Growth Quadrant I Quadrant II Strong Competitive Position Weak Competition Position Slow Market Growth Quadrant IV Quadrant III