1) The financial crisis of 2007 -8 was a massive trigger.The resignation of Fred Godwin and senior management team , which was a condition for the bail out of the UK government was another trigger.Stephen Hester was appointed as new CEO by UK government.So there was break down of trust which was triggered by the collapse of RBI .So the new executive group had to face two important task of bringing back trust in the bank and also to restore the financial condition.
2) The new CEO and his board tried to change the leadership style as well as the culture of the organization but they had to face immense problem in keeping the staff who would work towards the revival of the bank.So the change in the style of leadership and change in organizational culture was a drastic step of moving from bureaucracy which was " hard" to 'soft 'bureaucracy.Hester also introduced a system of communication of employees with senior leaders.The new system also introduced conference and call with CEO and senior managers.
The most important was the communication , conference and call of CEO with senior managers as well as communication of employees with senior leaders.
3)The new approach was to stop recruiting from outside and developing people internally with more stress on leadership development and innovation.
Read the following case study and answer the questions at the end of it Case Study...
Read the following case study and answer all the questions given below the case study. TRUST an emerging bank in East Asia. The bank having its most of the operations online now is using the internet for over 10 years and security is the key structure obstruct whereupon the bank depends. Data security is esteemed at elevated level making operational, financial backing and making it a significant asset to the organization. Mr. RST, Manager-IT clarifies, " Financial business can’t sustain...
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