Question

What capabilities and competencies does the USPS have that would enable it to create economic value by offering financial services? Would creating economic value this way “fit” with the USPS’s overall purpose, culture, and history? Why or why not? Explain.

Answer 1

Answer)
Economic value is created when a producer combines inputs such as labor, capital, raw materials, and purchases components to make a product whose perceived benefit B exceeds the cost C incurred in making the product.The real problem facing the Postal Service is a sustained, steep, and stark drop in demand. With the relentless rise of digital communications, Americans simply are not mailing things as often as they used toTo come out of the financial rides,Establishing a post bank could have the largest impact on financial inclusion, bringing significant numbers of underserved families into the financial mainstream,“As a bank, the Postal Service could take customer deposits and use them to fund loans, giving it maximum ability to affect financial inclusion. While the Postal Service offered bank accounts through the historical Postal Savings System (1911 to 1967) and many posts abroad operate as licensed banks, getting a new bank charter might require many years of arduous effort to overcome political, industry, and regulatory obstacles.
The avilable staff with good control systems and managerial compliances supported by various branches can help in creating economic value.
Though the USPS overall objective is to render communication easy through paper mails, but it has reduced overtime,thanks to technology. Creating economic value this way would definitely fit under its broad purview of purpose culure& history.
With offering financial services USPS will enjoy benefits from spread earned,more people coming there would agin like to use their postal services. As history is concerned as mentioned above earlier time had also seen,postal services offering financial help.