Bmo Organizational Structure Analysis - 2274 Words

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†¦show more content†¦This means as a team, operating groups are working efficiently and that reduces its undesirable loss. Also, proper and professional norms help to achieve industry-leading customer loyalty and enhance productivity to drive performance and shareholder value, which are the two primary goals of BMO. As the company cares about how the employees behave, especially how they interact with customer since jobs in bank is customers-based, the company will pay more attention to train and improve employees’ behaviors, and that is to say, the company will focus on the norms. At the same time, the company encourages employees to be innovative to present better wok so as to generate more values for the shareholders of BMO. In this way, the two primary goals can be achieved by setting right norms. Group Cohesiveness: Group Cohesiveness, the extent of how a group is especially attractive to its members, plays a crucial role in an organization as well. As for PC Canada, a new objective in 2013 is to improve productivity and the customer experience. In this regard, a number of initiatives are underway such as eStatements, mobile banking enhancements and online booking of appointments. To attain the goal, PC Canada team members need to fully understand and accepts the new initiatives. So with high level of cohesiveness, as team members become integrated into the team’s objective and values, which will help PC Canada to beShow MoreRelatedMultiformity in the Workplace Essay example659 Words   |  3 Pagesinitiatives being implemented to improve corporate productivity and performance. Multiformity in the workplace introduces an element of heterogeneity in problem solving /decision-making. This leads to a larger range of perspectives and stronger critical analysis of issues2 Diversity is a reality in today’s workplace. It shouldn’t be merely tolerated but valued for what it brings to the organization. ‘It’s not about assisting the individual to â€Å"fit into† the corporate culture by â€Å"fixing† what is differentRead MoreEnterprise Resource Planning in Bangladesh2091 Words   |  9 Pagesbusiness: firm structure, management process, technology platform, and business capability. At present in Bangladesh, companies can use ERP to support organizational structures that were not previously possible or to create a more disciplined organizational culture. The working force or the employees in the country are not technologically sound enough to get adapted with ERP at this moment, which is a great constraint in ERP investment. But effective measures like training, organizational developmentRead MoreExecutive Compensation Essay7457 Words   |  30 Pages 3. Team performance rewards. Based on a pre-determined set o f criteria and relative to the top teams performance. This should be the third ranked level of salary package component. Limited to 20 times the bonus reward for the lowest paid organizational team performance. Up to a maximum of 20% of average individual profit share (as in point 2). 4. Individual performance reward. Based on the achievement of pre-set goals. This should be the least component of salary package. Limited to 20%Read MoreWestjet Essay5237 Words   |  21 PagesCrewing efficiencies: Pilots can fly all variants of the 737s due to their common cockpit configuration. †¢ Maintenance efficiencies: Maintenance will be simplified since all planes utilize the same parts and engines. †¢ Simplified route structure and operations. †¢ Use of secondary airports where available. †¢ Growth strategy: Increase the number of markets served, as well as increasing the frequency of flights. Also focus is on long-term health of the airline, not merely on