July 09, 2012
Professor Steven Owlett
Planning functions of organizing involve designing departmental tasks for employees and managers to complete particular roles in each unit. Large corporations, in the past, had advantages over small corporations. However, small corporations presently have advantages, such as capabilities of rapid reactions, responding to supply and demands, and resolving minor problems. Effective organizations use both advantages because both create small and agile components that increase value by using advantage of power and size.
Organizations swap organic structures to ...view middle of the document...
JP Morgan Chase stands among the oldest financial institutions in the United States and its history began 200-plus years ago. Chase has assets of $2.3 trillion, operates, does business in more than 60 countries, has a staff of over 240,000, services brilliant corporations, institutions, millions of consumers, and governmental agencies. For example, JP Morgan Chase has multiple functioning divisions. It has a consumer division, which offers services for credit card, small business (loans), home (finance and equity loans), auto, and education loans. It also offers retail checking, retirement, and investing services. Chase uses power and size to maximize its appeal to consumers by using E-commerce and Lean production (producing just-in time). Its organization staffs many managers and staff who play specific roles in accomplishing goals (JP Morgan Chase & Co., 2012).
Tangible stationary assets, such as production equipment, office sites, and office furniture classify as physical assets. Organizing function of physical asset management relies on the sophistication of the company, amount, and kind of physical assets. Step one of managing physical asset includes establishing policies (budget and strategic objectives) because it assist in determining an organization’s future needs. Step two includes gathering, examining current stock, and accomplishments. The factor that separates current status of an organization and future status refers to strategic asset gap, which suggests needed improvements. Step three involves examining alternatives ways to close gap. The last step consists of constant asset monitoring and rearranging required mixture of asset. Mastering information technology will ease physical asset management by creating a well-structured and orderly passageway decision-making (Basu, 2012). For instance, Chase will increase its asset by adding 225 more branches to its 5,280 stores and in 2010 it opened 154 branches. Also Chase plans to open 50 additional exclusive client offices Florida, New York, Los Angeles, and Chicago (JP Morgan Chase & Co., 2012).
The division of human resources manages people within an organization. This department accounts for employing members to staff; therefore, attracting people, retaining his or her position, and making possible performances lives up to expectations. Research has proven human resources make up approximately 80% of an organization’s worth; therefore, improperly managed people will become the downfall of an organization. Human resources division primary objective consists of developing the best employees because it will assist in creating a successful organization (Handy, 1999)
JP Morgan Chase recognizes its organization is only as good as its employees and its mission consist of attracting, developing, and retaining the best talents than its competitors. The company commitments include creating a high-performing team that...