UofP - MBA580 - Paper for Critique - Thadeus Jones - 09-30-06

UofP - MBA580 - Paper for Critique - Thadeus Jones - 09-30-06

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Strategic Plan Running Head: National City Mortgage – Strategic Plan National City Corporation – Strategic Plan Thadeaus A. Jones MBA 580 September 28, 2006 1
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Strategic Plan Company Overview National City Corporation (NCC) is one of the top 10 banks in the US (Overview, 2006). NCC provides a wide range of financial services including commercial and retail banking, consumer finance, asset management, mortgage financing and servicing, and payment processing. NCC was founded in 1845 and is currently headquartered in Cleveland, Ohio NCC operates over 1000 banking branches the US primarily in Ohio, Indiana, Illinois, Kentucky, Michigan, and Pennsylvania (Profile, 2006). The focus of this paper will be on the Retail mortgage lending division of NCC, National City Mortgage (NCM). National City Mortgage has been a part of NCC since 1989 and has seen substantial growth through wholesale acquisitions. NCM specializes in originating, acquiring, marketing and servicing residential mortgage loans. The NCM loan servicing portfolio is approximately $1.6 billion which is about 1.1 million loans. (About Us, 2006). Mission National City Corporation will be a premier diversified financial services company providing customers with advice, information and services to meet their financial needs. We will achieve superior levels of financial performance as compared to our peers and provide stockholders with an attractive return on their investment over time. Vision The vision of NCC based on current available information is: To maintain a strong presence as a regional bank (Company History, 2005), and to purchase existing 2
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financial institutions in emerging markets as a growth strategy while sustaining value creation for shareholders. Values Below is a list of Management Principles and values as found on the National City website: 1. Our customers are our primary focus - we offer all of our customer’s high- quality products and services at a fair price. 2. We are a sales and service organization where sales performance and customer service are recognized and rewarded. 3. We run all of our businesses with a vision for sustainable value creation for our shareholders. 4. Sustainable value creation requires profitable growth in customers, relationships, business volumes, revenues and market share. 5. We always seek to be innovative in the way we do business to better serve our customers and shareholders. 6. We respect, value and care for our fellow employees, operate as a winning team, and communicate openly and honestly with one another. 7. We are committed to serving the communities in which we operate. 8. Nothing we achieve in our business is worth the gain if it compromises ethical conduct. 9.
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UofP - MBA580 - Paper for Critique - Thadeus Jones - 09-30-06

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