Managing People At Work Essay

4997 words - 20 pages

First Chicago Corporation:
Global Corporate Bank (A)
The Global Corporate Bank (GCB) was created as a distinct business entity within FCC in 1986 in order to focus attention on serving the large corporate customer. GCB would be one business, with a common target market and a common interest in maximizing the bank's ability to serve those customers well. The strategy included three mutually reinforcing elements: develop and maintain a strong relationship with customers, intensify coverage of current clients and Increase coverage of the target market, and broaden and deepen the GCB's product line.

There are certain main challenges for FCC
* To implement this strategy, even though the ...view middle of the document...

That was flipped around to where they are supposed to marshal the product areas to serve and sell to clients, not keep them out.

The RM, Alef explained, was now more of an "orchestrator" than a gatekeeper. The RM's jobs are as follows:
* To identify and prioritize new opportunities with old accounts
* To open new accounts.
* To bring in people from product areas when there was a specialized need.

The RM might even call for help from the superregional bank: "if, for instance, a local Chicago corporation wanted to have checking accounts or mortgages for their executives, the superregional bank would provide accommodations for that customer." The orchestra conductor analogy was elaborated by a senior banker at GCB, who explained that RMs had to be virtuosos in one or two instruments, but also had to be able to "get everybody in the orchestra to play together, so that each plays his or her individual part—which could be credit, syndications, registrar, transfer agency, etc. —so that to the client it sounds like a symphony."
This transition ran against the grain of those who had focused, prior to 1986, on becoming managers of SBUs.

As a senior level partner explained:
We had to relieve a few people who were solo performers and had bought into the old concept of Strategic Business Unit management where they were running a semi-autonomous business. Now they had to subordinate their individual interests to the good of the team and some of them weren't able to adapt. There was a kind of pride in being a SBU manager, so it was a major give-up, for some to lose that kind of freedom to act.
As another senior level partner put it: "under the SBUs it was assumed that all decisions were made solely by the SBU manager, whereas under the new GCB approach none of the decisions were self contained."
More importantly, the emphasis on RMs ran against the grain of the traditional banking career structure, which rewarded and respected steady progression up the hierarchy and continual elevation in terms of "title." If professionals wanted to become executives, they had to be on the managerial track; if they wanted to be on the managerial track, they had to be managing departments, not working with customers in the field. According to one senior RM, "the way your career would normally need to progress in the banking industry—to make more money, to be more recognized, to be more respected—was to go into management." The RM position was a dead-end job, to be done only until a true managerial position was available. The result, one senior RM commented, was that "you ended up drawing some of your best business development people farther and farther away from the client." Few people stayed in the job long enough to serve as a stable point of contact with customers.
Complicating this focus on career progress was the fact that there were more people lined up at the bottom of the managerial ladder than there had been in previous decades. In the...

Other Essays Like Managing People at Work

Morgan Stanley Essay

1664 words - 7 pages work. He has even shown improvements in his working relationship inside the firm and has held a positive attitude which supports the thought that he can improve his interpersonal skills with a wider audience if properly guided. I too must confess at this point that despite being aware of the situation, I could have provided him with a more candid and straightforward feedback on what others are feeling about his action and the importance of

Dcfhytikiyloo Essay

3011 words - 13 pages through Globalization The Gap's Focus on Its Global Supply Chain 145 A Look Back 146 Summary 147 Key Terms 147 Discussion Questions 147 Self-Assessment Exercise 148 Exercising Strategy 148 Managing People Brown v. Board of Education: A Bittersweet Birthday 149 Twitter Focus 151 Notes 152 Contents 4 The Analysis and Design of Work 154 Part 2 Enter the World of Business: Working Smarter: U.S. Manufacturers Stage a

Talent Management

935 words - 4 pages interpretations underline the importance of recognising that it is not sufficient simply to attract individuals with high potential. Developing, managing and retaining those individuals as part of a planned strategy for talent is equally important, as well as adopting systems to measure the return on this investment …ensure the right person is in the right job at the right time (Jackson & Schuler, 1990, p. 235


1548 words - 7 pages known fact that employees from various cultures contribute more effectively to organisations success than organisation working with single culture employees. But the authors of the article “Managing Multicultural Teams” (henceforth referred as core article) are of the opinion that cultural differences are sometimes capable of exacerbating challenges associated with effective team work. With the belief that multiculturism is timely need of 21st

Strategies to Relieve Stress

954 words - 4 pages Stress Now, the paper will shift to discuss a list of strategies to help relieve stress. Stress is “the experience of opportunities or threats that people perceive as important and also perceive they might not be able to handle or deal with effectively” (pg.275, ¶5) (George & Jones, 2005). Many people experience stress at home, work, or both places. During discussions, teammates learned that everyone deals with stress in a different way

Motivatin Empoloyee

963 words - 4 pages develop a motivational program for employees to perform at a high level, be innovative, and work together. People are affected by not only what they think and feel about their work and who they work for, but how they behave at work can also be affected. The values or the thoughts and feelings people have about their jobs and their work environment can determine their job satisfaction. Some are not concerned with the aspects of a job but mostly

Business Marketing Final

998 words - 4 pages . Motivation refers to the process by which a person’s efforts are energized, directed, and sustained toward attaining a goal. And I think that an individual can be too motivated. Because I work at a place that we have to get sales to hit the stores goal. Now if you had something every morning that is energized and can to you about how many sales you need to get that day, the employer is going to get tired of the people doing that every day. 13

Coping with Stress

1027 words - 5 pages DISCUSS THE POSITIVE COPING STRATEGIES THAT COULD BE USED BY THE STUDENT NURSE TO COPE WITH STRESS. The following assignment will utilise academic literature to highlight positive coping mechanisms related to stress. The author will then reflect on personal coping strategies. The Health and Safety Executive (2007) defines stress as the adverse reaction people have to excessive pressures or other demands required of them. The Royal College

Managing Technology

1805 words - 8 pages . Website development software has also been making leaps and bounds which allow sport organizations to create elaborate websites which attract, inform, and retain consumers. Information has becoming increasingly easy to access which increases the overall speed work can be done at. The most profound computer related advancement in technology has been the increase in mobility due to the decrease in device size and boundaries. A sport manager

Human Resoursce Management

894 words - 4 pages procedures and techniques strongly resemble those of personnel management, the strategic and philosophical context of HRM makes them appear more purposeful, relevant, and consequently, more effective. On the other side, authors like Storey regard HRM as a “radically different philosophy and approach to the management of people at work” (1989: 4). In this view, HRM provides a completely new form of managing personnel and can therefore be

Appendix E

615 words - 3 pages lead the people of God. Too Many people are leaving the church due to the fact that they come looking for help and never seem to get any help. The Church was designed to place of giving and without the proper teaching and managing of it; it will turn people away as we seem to be doing at this present time. People have been taught the word of God, but to often they or never taught how to apply it outside of church, people that know the word wants

Related Papers

The Importance Of Work Life Balance In The Effective Management Of People At Work

1442 words - 6 pages The importance of work-life balance in the effective management of people at work in contemporary organizations is now an issues faced by organizations to facilitate the demands of workers due to outside working commitments. WLB is a concept that supports the efforts of employees to split their time and energy between work and the other important aspects of their lives (Heatherflied,) Understanding the balance between work and life this topic

4 Functions Management Essay

1157 words - 5 pages same position. At Health Net, Inc. we have learned and grasped that our employees are our “most valuable resources” (Bateman and Snell, 2009, p.12). Knowing this, we understand keeping job duties specific and creating a place where people work together has kept us in business and allowed our employees to strive for the best and put their foot forward. To be able to organize requires another managing function, leading. Leading, having to be a

Managing Diversity At Ibm Essay

791 words - 4 pages Managing Diversity at IBM Nederland (The Netherlands) 05-02-2005 A Vision on Managing Diversity The multinational IT-company IBM is convinced that it can only keep its current competitive edge by reflecting marketplace diversity in the workforce and by offering a safe work environment for all employees. The company considers workforce diversity as 'the bridge between the workplace and the marketplace'. Ambition: an Inclusive Work

Change Management Essay

1303 words - 6 pages management Supervisors will play a key role in managing change. Ultimately, the direct supervisor has more influence over an employee’s motivation to change than any other person at work. Unfortunately, supervisors as a group can be the most difficult to convince of the need for change and can be a source of resistance. It is vital for the change management team and executive sponsors to gain the support of supervisors and to build change leadership