1. What are the core business processes1 (i.e. high level; major business and financial services) performed at Bank of America as part of its product and service offerings?…
According to Robbins and Judge (2011), Managers get things done through other people. As simplistic as that may sound, this singular function encompasses various functions that require an individual to utilize multiple skills and act in numerous roles. Henri Fayol breaks the managerial function down into 4 major categories; planning, organizing, leading, and controlling. As a manager steps into each of these functions, he/she must take on one of the 2 role categories that are defined by Henry Mintzberg. The interpersonal role which encompasses functions such as being the symbolic face of the organization, maintaining ties with people outside of the organization to gather information and forming a vision for the organization that motivates the employees. The informational role which includes activities wherein the individual monitors information, digests it and disseminates it within and without the organization. And finally the decisional role wherein the individual makes decision regarding the resource allocation, long-term planning organization and dispute resolution. In this paper I will examine 2 distinct organizations, one…
World Wide Tracers, Inc. to Metropolitan Protection, Inc. completed a security agreement and financing statement in favor of World Wide. In order for the agreement to be valid, the collateral must be written clearly, consist of the debtors, promise of repayment, settle the creditor’s rights at the time of the debtor’s nonpayment and has to be signed by the debtor. Therefore, the security agreement was entered with the Minnesota secretary of state with all the documents needed.…
The Canadian National Bank is a case involving employee grievances and ethical issues. On February 26, 1997, Lesley Mahon was shocked and upset about the serious allegation complained formally by her subordinate—Pam Stewart to the "National Committee for Employee Concerns"(NCEC). She was wondering if there was any action to take to solve the problem. This situation was a breakout of their conflicts in a long period. The main two causes of the issues were Lesley’s leadership and Pam’s obstinacy. There were different kinds of actions that Lesley could take, and finally she should talk to her subordinate to analysis and understand the motivation and behavior of a difficult employee to solve the problem thoroughly, and at the same time learn experience from this crisis.…
Century National Bank has offices in several cities in the Midwest and the southeastern part of the United States. Mr. Dan Selig, president and CEO, would like to know the characteristics of his checking account customer. To better understand the customers, Mr. Selig asked Ms. Wendy Lamberg, director of planning, to select a sample of customers and prepare a report. To begin, she has appointed a team from her staff and the team has selected a random sample of 60 customers. All the information gathered is tabulated in the table below:…
Wells Fargo Bank pursued older people. Older people tend to trust bankers. Immigrants were also pursued. The bank told immigrants that they did not need social security numbers to open accounts. As if all this was not enough. Bank management pressured employees to open new accounts. Managers would set targets every day. They would single out workers who did not meet goals. Workers quit or were fired. Some employees said the pressure was so intense that it made them ill. The head of Wells Fargo Bank resigned when the facts of the scandal became public. There is a movement to have all the people who bank at Wells Fargo Bank close their accounts. The date for the mass closing of accounts is November 12, 2016. In summary, Wells Fargo Bank committed…
Royal Bank of Canada is Canada's number 1 bank in whole North America by assets and market capitalization and is the leading North American financial services organization. Royal Bank of Canada and its divisions operate with the brand name of RBC, giving different kinds of personal and commercial banking, insurance, investor, wealth management and wholesale banking services in whole world. RBC serves business, public sector, rich and poor and institutional clients through their branches spread all over Canada, US and about 49 other countries, including the UK and other select parts of Europe and…
In the case, Dr Alfred Brownlow has four senior department, they are Richard Cranverry (director of biotechnology), Brenda Frame (Chief scientific officer), Fred Windows (Financial director) and Judith Smythe (Sales &Marketing director). They all have their responsibilities and authorities.…
1. I believe that the provisions made to the Dodd Frank Act that mandates advisory shareholder votes on executive compensation was a good change. I agree with this provision because I believe that the shareholders should ultimately have a say I'm what sort of compensation the executives of the company are taking. They are the real company owners and it's their money that's on the line if Citibank doesn't succeed. In the recent recession their track record hasn't been great. Citi recently failed a stress test done by the federal reserve to see if they had enough capital in their reserves to combat a severe downturn. They are currently ranked in the bottom 3 of the 17 banks according to forbes. At the same time the CEO is proposing that he gets paid a 1.7 million dollar salary with a cash bonus of 5.3 million dollars. If that isn't enough that was only a portion of the 15 million dollar package to paid to him over four years. With citi in the current state they are in the executives should not be taking this much money as compensation. They are draining valuable capital that could be used to fix the problems that they already have. The shareholders should have the last say on if this can be allowed because that's money coming out of their pockets. Not the executives.…
Crisis: On September 8, 2016 it was revealed by the Consumer Financial Protection Bureau that Wells Fargo created more than 2 million fake bank accounts or credit cards by inputting real customer information without their consent. The Consumer Financial Protection Bureau along with the Los Angeles City Attorney and the Office of the Comptroller of the Currency, have fined Wells Fargo $185 million dollars. Federal banking regulators state that Wells Fargo has been committing this fraudulent activity since 2011. Since the scandal made headlines, Wells Fargo fired over 5,300 employees that were involved in cross-selling banking practices.…
Corporate America today has evolved into what can be seen as a world of its own. There are many different factors that play into a business and how a business functions. A manager is a key ingredient to a functional business; this will be a detailed analysis of how a manager is important to different areas of business as a whole. The functional areas of business include; management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. For the purposes of this paper the author has elected to discuss only…
Mintzberg, H. (1977) “The manager’s job: folklore and fact’, Harvard Business Review, 55 (44): 49-61.…
Can Bank of America initiate, renew or terminate different sponsorship opportunities. Which of the different sponsorships will have the biggest ability to help the bank’s business segments accomplish there business objectives, and which ones could damage them.…
Managers are essential for any type of business in order to succeed. They are specialists required to perform a particular set of specialized roles that are dependent on the functional area in which they work [1]. Their rule cannot be ignored. They are the ones who are responsible of planning, organizing, commanding, coordinating, and controlling [2]. This paper is designated to study the role of managers in the different functional areas of any business. But what are the functional areas of any business? What are the types of managers and what skills they need to have for each functional area? The following shows the answers for each question.…
Upon completion of the Mintzberg’s managerial role, I was able to understand the different facets that a Manager needs to have and also the various roles a manager must be able to fulfil daily to be considered a successful leader. The Analysis sheds more light on each of these roles and they include: the Figurehead, the Leader, the Liaison, the Monitor, the…