Bmo Organizational Structure Analysis
Introduction
As Canada’s oldest bank that officially opened for business on November 3, 1817, BMO has been helping its customers and communities for over 190 years, offering them a broad range of personal, commercial, corporate and institutional financial services across Canada and in the United States. It has approximately 16,200 employees and over 960 branches across Canada. As one of the Big Five banks in Canada, it has been passionate to build team strategies and to try new challenges.
In this report we will explore the team and organizational structure of BMO and discuss the efficiency of its strategies. We will primarily be focusing on how groups are constructed within BMO and group members interact. Then on a more macro scale, we will talk about the division of labor inside BMO and the way it construct and organize different departments.
In general, we believe that BMO is a highly organization in terms of group dynamics and organizational structure.
TEAM
Group Effectiveness: P&C Canada is the core operating group of BMO Financial Group. P&C Canada stands for Personal and Commercial Banking that Bank of Montreal provides, which including an integrated network of BMO ranches, telephone banking, online banking and automated banking machine. According to the company annual financial report, P&C Canada net income was $1,784 million in 2012, up $11 million or 0.6% from a year ago which means the group made lots of profit in previous year. This shows the effectiveness of the group. There are formal work groups in P&C Canada. In each branch of Bank of Montreal, the groups are established by the company to facilitate the achievement of organizational goal which is the vision of the company. The research in Purdue University (Campion, Medsker & Higgs, 1993) in 1993, they collected the data from 391 employees, 70 managers, and 80 work groups to test the effectiveness criteria which included job design, interdependence, composition, context and process
As Canada’s oldest bank that officially opened for business on November 3, 1817, BMO has been helping its customers and communities for over 190 years, offering them a broad range of personal, commercial, corporate and institutional financial services across Canada and in the United States. It has approximately 16,200 employees and over 960 branches across Canada. As one of the Big Five banks in Canada, it has been passionate to build team strategies and to try new challenges.
In this report we will explore the team and organizational structure of BMO and discuss the efficiency of its strategies. We will primarily be focusing on how groups are constructed within BMO and group members interact. Then on a more macro scale, we will talk about the division of labor inside BMO and the way it construct and organize different departments.
In general, we believe that BMO is a highly organization in terms of group dynamics and organizational structure.
TEAM
Group Effectiveness: P&C Canada is the core operating group of BMO Financial Group. P&C Canada stands for Personal and Commercial Banking that Bank of Montreal provides, which including an integrated network of BMO ranches, telephone banking, online banking and automated banking machine. According to the company annual financial report, P&C Canada net income was $1,784 million in 2012, up $11 million or 0.6% from a year ago which means the group made lots of profit in previous year. This shows the effectiveness of the group. There are formal work groups in P&C Canada. In each branch of Bank of Montreal, the groups are established by the company to facilitate the achievement of organizational goal which is the vision of the company. The research in Purdue University (Campion, Medsker & Higgs, 1993) in 1993, they collected the data from 391 employees, 70 managers, and 80 work groups to test the effectiveness criteria which included job design, interdependence, composition, context and process