Complexity of the Innovative Process
Self-organizing Behavior & Leadership
This is an interesting topic to explore within State Street Corporation. It has been taught through the coursework that self-organization is the process where a structure or pattern appears to be in a succinct system without a sole leading force or authority. In regards to leadership, there has been a significant change in how it is viewed and the measure of its effectiveness. Initially a leader was considered effective based on results and other tangible evidence. This view has shifted to where a leader’s success and efficiency is now based upon the impact they have made on their followers and organization. Organization Overview
State Street is headquartered in Boston, Massachusetts, and is today’s industry leader with services offered to the institutional investor sectors. The organization takes pride in their customer service, mutual funds, pension plans, investment assets, and investor relations, which is provided day in and day out. Their clients expect them to provide solutions, research, and to strategize to make them fundamentally more successful. With the millions of dollars that are being traded every day, the relationships, loyalty, and support of State Street employees are looked at with high regard. The vision of State Street Corporation is to be a strong financial business that can provide the necessary services to its new clients and their longstanding customers to the organization. State Street wants to continue to offer innovative products that will keep customers coming back and having new customers join the group. The clients and investor relations’ that State Street Corporation has established throughout the years continues to show the loyalty of the clientele as well as the investment knowledge that State Street has to offer. Here in the United States, as well as the international locations, State Street makes it a point to go above and beyond the expectations for their employees and customers. Leadership
There have been three big differences between the early view of leadership and the current thinking. First, leadership is not one person’s job; everyone at any level can apply leadership principles to their work. Second, leadership isn’t something that starts and stops in the office; leadership skills can be practiced and used in community work, sports teams and even managing tasks in the home .Third, leadership is not just about results it is about the process by which you achieve those results and the impact you have on the people needed to reach those results. These concepts can relate to my organization in several ways. State Street is in the process of developing an innovative strategic plan for more efficient communication and teamwork within the company. This will be known as the Centers of Excellence, or the CoE. The purpose of these systems would be to have a company-wide based approach to meet the vision of all local and global locations (Jay Hooley, personal communication, 2011). The CoE is going to allow larger departments to create specific individual groups, instead of having accounting handle custody and cash, it would separate the focuses and have individual teams work independently only cash or only custody independently. Along with this idea, clients would contact client relationship managers who handle their specific needs, rather than contacting the department as a whole where information can be misdirected or misunderstood (Jay Hooley, personal communication, 2011). One of the major components that are becoming more of an entity within the organization is the executive leadership. Leadership can be defined as the, “Process whereby an individual influences others to achieve a common goal” (Kreitner & Kinicki, 2008, p. 463). The vision is sustained by maintaining and empowering the employees and working in continuous partnership with the client’s organization. The...