Structure for a Bank - Coursework Example

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The paper "Structure for a Bank" highlights that customers are more discriminating and demanding in a global context, especially since there is increased availability of financial services and banks are moving into provision of diverse services to customers. …
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Structure for a Bank
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Download file to see previous pages In the new technology fuelled business s environment, where the focus of a bank’s operations have shifted from a regional/local set up to a global framework and where there is an ever-expanding sphere of organizational functions that are being performed by banks, such a strictly bureaucratic, hierarchal framework may hinder and slow down operations. As a result, banks may not be able to respond promptly and efficiently to the needs of customers and may not be able to function competitively in a global market. It appears that a more networked structure with the diffusion of authority throughout the organization may be more effective in ensuring that banks are able to function more effectively within the new requirements of the business environment and the expanded scope of functions.
The organizational structure of banks has traditionally been bureaucratic, based upon Weber’s classification of bureaucratic systems, with organizations conforming to legal domination (Mommsen, 1992:46). According to this system, organizational authority derives from the system of legal order, wherein rules are implemented within the organization and are obeyed in the belief that they are legitimate. The authority to make decisions and assume leadership positions is derived from the base of rationality, which is often equated to efficiency (Simon et al, 1950:490).
Under the rational organizational paradigm, where the structure is essentially bureaucratic, all decision making in the organization is in the hands of management, and individual employees working within the organization allow their decision making to be guided by the guidelines provided to them by management officials. There is little scope for individual creativity or innovation. The level of networking that may be required among bank employees in a global environment may also be much higher and the traditional organizational framework based upon the rational paradigm may restrict such a diffusion of decision making authority and networking among employees. ...Download file to see next pagesRead More
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