american express ppt
TRANSCRIPT
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THE AMERICAN EXPRESS
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INTRODUCTION
• In January 2006, the American Express Company (AmEx)
was featured on Fortune's list of the '100 Best Companies
to Work for' in America.
• AmEx was ranked ninth among large companies, and
37th in the overall ranking of the list of the best employers
in the US.
• company stood ninth in the overall ranking
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WHAT IT DOES?
• Each day, American Express makes it easier, safer
and more rewarding for consumers and businesses to
purchase the things they need and for merchants to
sell their goods and services.
• American Express provides innovative payment,
travel and expense management solutions for
individuals and businesses of all sizes.
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BACKGROUND
• American Express Company, sometimes known
as AmEx, is a diversified global financial
services company headquartered in New York City.
• Founded in 1850, it is one of the 30 components of
the Dow Jones Industrial Average(stock market
index).
• The company is best known for its credit card, charge
card, traveller's cheque businesses and travel.
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• It was founded as a joint stock corporation by the
merger of the express companies owned by
Henry Wells (Wells & Company),
William Fargo (Livingston, Fargo & Company), and
John Warren Butterfield (Wells,Butterfield &
Company).
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Henry Wells (Wells & Company)
William Fargo (Livingston, Fargo & Company),
John Warren Butterfield (Wells, Butterfield & Company
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• Kenneth Irvine Chenault has been the CEO and Chairman of American Express since 2001.He is the third African-American CEO of a Fortune 500 company
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AMERICAN EXPRESS• Type Public (NYSE: AXP)• Industry Banking , Financial services • Founded 1850 • Founded by Henry Wells, William Fargo,John Warren Butterfield
• Headquarters New York City, New York, United States • Area served Worldwide• Key people Kenneth Chenault(Chairman & CEO) • Products Financial ,Travel services, Insurance • Revenue US$26.7 Billion (FY 2009)
Net income US$2.13Billion (FY 2009)
Total assets US$124 Billion (FY 2009) Total equity US$14.4 Billion (FY 2009)• Employees 67,701 (2008)
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MISSION
To be the most respected brand in the world.
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VISION
We work hard every day to make American Express
the worlds most respected service brand.
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VALUES• Customer Commitment We develop relationships that make a positive difference in our
customers’ lives.
• Quality We provide outstanding products and unsurpassed service that,
together, deliver premium value to our customers.
• Integrity We uphold the highest standards of integrity in all of our actions.
• Teamwork We work together, across boundaries, to meet the needs of our
customers and to help the company win.
• Respect for People We value our people, encourage their development and reward their
performance.• Good Citizenship We are good citizens in the communities in which we live and work.
• A Will to Win We exhibit a strong will to win in the marketplace and in every aspect
of our business.• Personal Accountability We are personally accountable for delivering on our commitments
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SOME OTHER FACTS As of December 31, 2009
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BUSINESS MODEL• Typical credit card business model
When a consumer makes a purchase using a credit or charge card, a small portion of the price is paid as a fee (known as the merchant discount), with the merchant keeping the remainder. There are typically three parties who split this fee amongst themselves:
Acquiring bank: The bank which processes credit card transactions for a merchant, including crediting the merchant's account for the net value charged to a credit card.
Issuing bank: the bank which issues the consumer's credit card. This is the bank a consumer is responsible for repaying after making a credit card purchase. The issuer's share of the merchant discount is known as the interchange fee.
Network: the link between acquiring banks and issuing banks. These banks have relationships with a network, rather than with each other, for fulfilling card purchases. For e.g. card issued by a community bank in Peru to be used at a shop in Sri Lanka, for instance, without requiring the banks to have a direct relationship with each other. The two largest networks in the world are Visa and MasterCard.
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PRODUCTS Card products
Consumer cards Small business services (also known as American Express OPEN) Commercial cards and services Non-proprietary cards
Non-card products Traveler's Cheques Shearson/American Express Financial Advisors Travel Publishing
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CORPORATE RESPONSIBILITY
American Express supports hundreds of non-profit organizations each year through its foundation and corporate giving activities. Like,
• American Red Cross Disaster Relief Fund for disaster relief, service to the armed forces,
blood and tissue services, and health and safety services.:
• Employee-Driven Philanthropy for feeding the hungry, mentoring students, building homes, cleaning up the environment or making personal financial contributions,
• Partners in Preservation contribution for preservation of historic sites and monuments.
• Travel With Your Mind : which aims to reestablish schools as the focal part of the community.
• Developing New Leaders for Tomorrow: dedicate significant resources to attract, develop and retain talented employees.
• Encouraging Community Service and Engagement Where Our Employees and Customers Live and Work