Management and Leadership in Td Bank Group

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Running head: MANAGEMENT AND LEADERSHIP IN TD BANK GROUP

Management and Leadership in TD Bank Group

Julia Kuznetsova

MADS 6600

Instructor: Dr. Zarbi

May 21st, 2013
Management and Leadership in TD Bank Group

Introduction

The purpose of this paper is to exemplify how organizational managers and leaders create and maintain a healthy organizational culture and recommend two strategies that organizational managers and leaders can use to improve this culture. As an example I selected a Canadian multinational corporation – The Toronto-Dominion Bank. The Toronto-Dominion Bank is a Canadian multinational banking and financial services corporation headquartered in Toronto. It is the second-largest bank in Canada by market capitalization and based on assets, and is the sixth largest bank branch network in North America. Commonly known as TD and operating as TD Bank Group, the bank was created in 1955 through the merger of the Bank of Toronto and the Dominion Bank, which were founded in 1855 and 1869, respectively. The bank and its subsidiaries have over 79,000 employees and over 19 million clients worldwide. The company is ranked at number 86 on the Forbes Global 2000 2010 listing. In February 2011 it was named one of Canada's top 10 employers by the Financial Post. (http://en.wikipedia.org/wiki/Toronto-Dominion_Bank, 2013) Organizational structure overview

TD Bank group has a strong, independent Chairman with a clear leadership mandate in corporate governance. The responsibilities of corporate governance are assigned as follows: • The Board oversees management, considers and approves, on a continual basis strategic alternatives and plans, and approves all major strategy and policy recommendations for TD Bank Group • The Board is responsible for setting the tone for a culture of integrity and compliance throughout TD • The Board, its committees, the committee Chairs and the Chairman of the Board operate under written charters setting out their responsibilities • The Audit Committee of the Board, not management, is responsible for the relationship with the shareholders’ auditor. (TD 2011 Corporate Responsibility Report, 2012) The Board of Directors and the management of TD are committed to leadership in corporate governance. Corporate governance policies and practices are designed to focus on responsibilities to shareholders and on creating long term shareholder value. TD’s policies and practices meet or exceed applicable legal requirements. Managers continuously monitor all proposed new rules and modify policies and practices to meet any additional requirements. An overview of our corporate governance structure is set out below. (http://www.td.com/about-tdbfg/corporate-governance/corporate-governance-structure/practices.jsp) [pic]

Healthy organizational culture
To build a healthy organizational culture managers make employees engaged in what they do, empowered to make a difference, excited by opportunities to develop and grow to their full potential, and recognized for their unique contributions. Leaders aspire to be increasingly inclusive by identifying and eliminating barriers or biases. The company celebrates and welcomes difference and work to constantly improve employees’ experience. The TD culture has many elements: drive to deliver exceptional customer service; passion for the environment and for giving back to the communities; and determination to create a unique, diverse, respectful and safe workplace for employees to grow and develop. (TD 2011 Corporate Responsibility Report, 2012) Employee Feedback

To measure employee engagement managers use employee feedback. They track employee engagement through TD Pulse, a company-wide internal survey conducted twice a year and open to every employee, including those on leave, in all countries of operation. The surveys are managed by an independent third...
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