The Management Program
The management has a business plan which presents the bank’s expansion plan, manpower requirements, compensation levels, and other relevant details for target growth of the bank. However, the development of the policies will just be done during the operation of the bank. This may cause a lag in their operations and may lead to being outdone by competitors. As aforementioned, Peso Bank has plans to expand its operations and it is for this reason that they …show more content…
The company, at that time, had the luxury to deal with isolated issues as they arose. However, due to the rapid expansion of its operations, they were unable to maintain their method of dealing with all the issues at hand and have resolved to keep things as they are and develop along the way.
The main problem of Peso Bank is how to restructure the company in a way that would suit the current size of their operations as well as their future plans of expansion.
Peso Bank realized the need to be more structured and attempted to do this by creating a Table of Organization and starting the process of creating general policies. There were imperfections, however with these steps. For one, Peso Bank created a Table of Organization without first assessing the needs and available resources of the company. This resulted to Departments with no subordinates, as well as having sudden promotions of people without proper consultation. The proper chain of command that was supposed to come along with the Table of Organization was also not followed, resulting to questionable impromptu