ROSS ABERNATHY AND THE FRONTIER NATIONAL BANK
A CASE STUDY
|Time - Line |Events in Frontier National Bank |Events of Ross | |1939 - 1955 |Downward trend started, profit & market standing declined | | |1955-1970 |Continued with monopolistic business and nation’s best known banks |Joined Chicago Bank | |1970-1977 |3rd place in assets & 6th place in profit |-1973 Ross offered Vice Chairman in Chicago bank | | | |-1974 joined Group of insurance companies as CEO | |1977- |-Retirement of CEO (founder) & Son in Law will replace him, was |Ross joins as CEO of Frontier National Bank | | |depressing news | | | |-CoC recommended for merger with younger competitor | | | |-Board started searching of new CEO | | | | | |
Highly aspirant with leadership qualities, dedicated & devoted with high ambitions. Competent having better acquaintance in statistics & economics
Because of conservative attitude, though employees were technically competent they lack vision for performance making bank to loose market share.
FIRST – INSIDE TEAM
Identifying efficient team from available internal human resource.
|Positive Aspects |Negative Aspects | |Immediate human resource availability |Motivating team is time consuming & outcome delayed | |No prior training required |Will lack competitive edge | |Less Operational Expenses (Salaries) |Operational efficiency will be low due to age factor | |Acceptance amongst bank employee’s |Excess man power | | |Creativity & innovations will be limited | | |No new business model |
SECOND – MY TEAM
Identifying known persons from previous organizations.
|Positive Aspects |Negative Aspects | |Trustworthy and efficient people |Existing employees not given any opportunity to prove | |Outcome will be better in short time |Moderate Operational Expenses (Salaries) | |Motivation is high |Top management acceptance amongst bank employee’s will be low | |New business models |Time to understand existing organizational culture | |Fairly competitive edge...
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