Morgan Stanley Case Analysis

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  • Topic: Morgan Stanley, Goal, John J. Mack
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  • Published : April 25, 2011
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Morgan Stanley:
The Firm Wide 360° Performance Evaluation and Rob Parson

1. What are the key elements of MS 360° performance evaluation process? The Morgan Stanley 360° performance evaluation process is comprehensive and includes the following key elements: 1. Self-Assessment 2. 360° Feedback from superiors, peers, subordinates and internal clients 3. Specific evaluation criteria based on four broad categories A. Market/Professional Skills B. Management and Leadership C. Commercial Orientation D. Teamwork/One Firm Contribution 4. Office of Development to consolidate data into Year-End Data Packet 5. Evaluation Director to interpret and synthesize information to prepare Evaluation and Development Summary 6. Template for Performance Review Discussion The self-assessment was completed annually by each employee in conjunction with the 360° feedback. It was meant to compliment the information in the 360° feedback and was also used as a means for self-reflection. It was broken down in 3 sections as follows: 1. Business Goals & Accomplishments 2. Contribution to Morgan Stanley, division, and external/industry-related community 3. Professional Development The first 2 sections were open-ended, while the final section consisted of a series of short answers. The short answers were similar to the ones asked on the 360° feedback forms (both short and long), and thus served as a good proxy to compare whether the individual had a good self-perception of his or her qualities. For examples, all forms asked for the top 3 strengths and weaknesses. For the 360° Feedback, each evaluatee’s was required to provide a list of potential evaluators. Each employee was required to identify people with who they regularly interacted and would be able to provide relevant feedback. These reviewers were then included on a list called the Evaluation Request Form (ERF). Each reviewer was categorized in one of 4 categories based on the nature of the working relationship to the evaluatee: 1. Downward (superior) 2. Colleague Long (peer) 3. Colleague Short (peer) 4. Upward (subordinate)


From here, the ERF was submitted to the Office of Development who then distributed the forms to the reviewers listed on the form. Each type of reviewer had a different form in which to provide the feedback. However, each form encompassed feedback on the four broad categories: Market/Professional Skills, Management and Leadership, Commercial Orientation, Teamwork/One Firm Contribution. The evaluation forms were open-ended and asked for specific information on strengths and weaknesses across all four areas. In the Investment Banking Division, there was an additional numeric evaluation the ranked individuals on a 5-point scale ranging from Unsatisfactory (1) to Outstanding (5). The forms for subordinates also used a 5-point scale along with open-ended questions concerning management and leadership. In addition to the numeric scales, an overall summary rating was included and intended to facilitate comparisons across individuals. After the various reviewers completed the forms, the Office of Development consolidated the data into a 10-20 page document for each person being evaluated, called the Year-End Data Packet. From here, Evaluation directors were required to interpret and synthesize the information and prepare an Evaluation and Development Summary. The Evaluation and Development Summary served as the template for Performance Review Discussions.

2. Is the MS 360° performance evaluation process consistent with MS’s new way of organizing? Why? This process was introduced by President John Mack in 1993 with the goal of providing each of its 2,000 professionals with quality performance feedback. Mr. Mack was committed to transforming the culture of Morgan Stanley into a “one-firm” firm which fostered collaboration and team work, and this was reflected in Morgan Stanley’s mission statement: “Morgan Stanley’s people are the source of our competitive advantage. We will...
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