In Michele Terry the Aspiring Marketing Executive case study, one will be able to discuss the history, development, and growth of Federal Bank as well as Michele’s career development and contribution through the years. The topics that will provide us with a thorough understanding are the following: talent management, compensation, labor relations, KPI, performance management, training and development among other key elements that will enhance the organizational changes. Ultimately, with our findings we will develop a connection with the profession of Human Resource Management and Career Development that will further our knowledge and view point in the business world. Federal Bank: History, Development, and Growth Founded in 1887, Federal Bank is a medium-sized financial institution in the United States. In fact, according to Forbes Magazine, it is “a public company based on a composite ranking” (“Chase Bank,” n.d., para. 1). Furthermore, Federal Bank has generated total assets of over $2 trillions and is globally operating in over 20 countries. Its mission is to not only meet but also exceed the expectations of its clients by building long-term relationships with each and every one of them. With this approach, Federal Bank is able to add value through its service by providing a client-centered relationship (“At first financial,” 2014, para. 3). Also, it is believed by the members of this organization that the metrics for success that correlates with the key performance indicators are “customer penetration, customer retention, asset quality, capital adequacy, and asset under management” (“Corporate-report,” 2013, pg. 9). Even though this financial institution has prides itself in delivering exceptional service and guidance it ha... ... middle of paper ... ...t. She is trying to get over her failed attempt at advancement. Continued Recommendations and Conclusion In conclusion, although the history, development, and growth of Federal Bank has been inspiring it needs to work closely with key employees, like Michele, who are not succeeding at reaching their career development ambitions. Various topics like compensation, KPI, performance management, among a few others have been previously discussed to help improve the management system for career goals. Finally, the best advise that can be given to managers like Michele who are disappointed about their lack of advancement is to focus on continuous short-term goals that will enhance their skills and attitude. Therefore, by encouraging and supporting a happier employee-centered approach it will definitely aid organizations by reaching the upmost results in their performance.
On February 23, 1784, a small advertisement appeared in The New York Packet, one of the many New York newspapers of that era. This advertisement announced that prominent New York citizens had established a bank. The bank, established by the prominent, would not officially open for business until June 9, 1784. That bank would come to be known as the bank of New York. Alexander Hamilton, a well-known New York attorney, was asked to write the constitution of the new bank. He complied and therefore Alexander Hamilton was credited with the founding of the Bank of New York. The Bank of New York is the oldest bank in New York and along with that is one of the oldest banks in the world since banking the way we know it today began in the 18th century.
For this project, we researched Wells Fargo?s performance in the last couple of years as a way to check on its progress to greatness. What we found was an overwhelmingly charismatic company that not only puts down its values in ink, but also strictly abides by them. Much to our surprise, a huge chunk of their thick annual report for 2002 was an honest listing of all the threatening factors that stand in the company?s way rather than its exceptional rankings in its sector. In this paper, we will focus specifically on Wells Fargo?s leadership, company culture, SWOT analysis, and financial performance analysis. We will try to link our findings to Jim Collins?s book as a way to prove that the company has really made the jump from good to great.
...he company which suggests that if you examine managerial styles and work to improve employee satisfaction there will be a correlational increase in productivity and retention. It suggests that perhaps people leave companies not because they are unsatisfied with their work or pay, but rather, because they are unsatisfied with their manager. While this idea might seem brash, it is a significant point being made that suggests that in order to see improvement you need to revamp a program or company from the top. Having worked as both an entry level worker and a managerial supervisor, I can testify to the importance of manager support, appreciation, and feedback and how this impacts your role in the company. Seeking out the strengths in employees, though it seems so obvious in theory, is a revolutionary way to transform the work environment and employee morale.
Since customer satisfaction is very important in this company, Brandon Smith, one of the Vice Presidents at of the branches, said that treating the customers as if they were the “best” is what keeps them coming back for more transactions. He then continued to elaborate that they use a communication method to get to know their customers more. For instance, Bank of America’s customers talk about their financial goals. In addition, Brandon mentioned that his employees’ set many goals to change how customers view the company in a positive way.
“At JPMorgan Chase, we want to be the best financial services company in the world. Because of our great heritage and excellent platform, we believe this is within our reach.” J.P. Morgan’s mission statement gives great insight of their competitive strategy. Instead of distinguishing between the products and services they provide, J.P. Morgan Chase’s strategy is to focus on trust, loyalty, and the experience the company has. According to Porter’s five forces model, J.P. Morgan Chase is an example of the differentiation strategy because of their business strategy. To keep their competitive advantage in the industry, J.P. Morgan provides extensive employee benefit programs which include health care plans, 401k programs, retirement plans, and
For Chase bank the mission and vision should always be clear to their customers. "At JPMorgan Ch...
Noe, Raymond A., et al. Human Resource Management: Gaining a Competitive Advantage. 7th ed. New York: McGraw-Hill/Irwin, 2010. Print.
Some of the things that companies could do to improve job satisfaction for example, would be to identify when an employee is bored on the job, address it, obtain feedback from the employee for ideas to make their job more interesting and challenging. This would allow a leader to assist this individual in designing different ways to perform duties or depending on individual’s future career goals and performance level, may need more responsibility or promotion in order for the employee to maintain job satisfaction and retention with t...
Initially the bank’s core banking system was product oriented, but the need of the hour was to develop a customer oriented system, because the challenge is to build customer loyalty, cross sell, and enhance repeat business.
Washington Mutual is a small bank in Seattle that is losing $5 million per month in capital investments. They could run the bank for three years, but the management team was not able to deal with the problem. As a result, Washington Mutual’s board of trustees met to find a solution to solve this problem. Lou Pepper, a Seattle lawyer who had a seat on Washington Mutual’s board of trustees, accepted the job to lead the bank and fix the problem. In seven years of Pepper leadership, he saved the bank from its inevitable bankruptcy.
This paper will analyze the mission and vision statements of JPMorgan Chase & Co against the performance of the organization. An evaluation of how well the company lives out its mission and vision statement will be provided. The organization’s strategic goals link to the company’s mission and vision will be assessed. An analysis of the company’s financial performance to determine the link between the company’s strategic goals, strategy, and its financial performance. A competitive and marketing analysis of JPMorgan Chase & Co will be conducted to determine its strengths and opportunities.
According to our textbook Human Resource Management (HRM) is the policies, practices, and systems that influence employees’ behavior, attitudes, and performance. “The human resources management process involves planning for, attracting, developing, and retaining employees as the HRM planning provides the rights kinds of people, in the right quantity, with the right skills, at the right time (Lussier, 2012, p. 240).” According to our textbook the typical responsibilities of the Human Resources department fall into three categories, and they are administrative services and transaction, which handle hiring employees. The second involves business partner services that focus on attracting, evolving, retaining employees by having a clear understanding
The essay briefly aims to explore the meaning of career Management/Development and its importance for both individual and organisations, and then it will evaluate the relevance of career management/development as an integral part of HR activities from the mutual perspectives of the organisation and individual employees. This essay will also explore the barriers to achieving career management/development practice in organisations and how these barriers could be overcome. Finally the essay will highlight the career management practices of King Specialist Faisal Hospital and Research Centre (public sector), which will lead to the conclusion.
Saunders, A., & Cornett, M. M. (2011). Financial institutions management: A risk management approach (7th ed.). New York, NY: McGraw-Hill/Irwin.
Today businesses believe that the sustaining of performance and competitive advantage to becoming a great organization. As an organization’s success depends on their employees’ performance, the value of specific individual employee has played an important role within an organization to be competitive. At that time, the value of each and individual employee and their satisfaction with their jobs are one of the key factors for an organization and organizations need to find ways to improve employee job satisfaction to achieve organizational goals.