Challenges faced by the Umpqua's leadership in maintaining the culture: One of the biggest challenges the bank faced was the influence of the culture in the other acquired bank branches on the culture of Umpqua bank. Adoption of other banks involved retaining the banks’ employees. These employees had got used to a different culture and it was therefore a major challenge to make them adjust to a new culture smoothly. To overcome this problem, the leadership injected Umpqua’s culture into the other bank branches by bringing their employees in busloads to Umpqua's stores to offer them with orientation. This enabled a real firsthand introduction to a new business world and which in turn made the employees feel the desire to change and hence adapt faster (Freeze, K., ND). It was a challenge for Umpqua to run its operations in a harmonious manner especially considering the fact that its individual stores were different in terms of size, demographics and layout. In addition, the branches were also different in the sense that their loan and deposit potential varied considerably. This therefore demanded individual stores to be handled differently. The bank created a cross-functional task force to look for the best means by which the challenge could be overcome. The taskforce provided a strategic financial proposal which later streamlined its operations. Competition from other large banks posed a serious challenge to Umpqua's desire to succeed. Banks such as Washington Mutual and Bank of America sent the leadership of Umpqua bank to the drawing board to come up with new strategies that would aid in retaining its culture now that their competitors had started copying their already-in-use strategies. In 2002, for example, Washington Mutual had its first ‘occassio’ branch opened whereas the Bank of America started holding experiments to ascertain the effectiveness of the branch design. To counter this, the leadership at Umpqua decided to invest in the best customer service delivery as compared to their competitors. Umpqua's customer service, especially its in-store customer service which was unique, was its competitive edge and so it had to be perfected (Freeze, K., ND). Umpqua bank with the aim of remaining the leader in the banking business settled on a plan to train and retrain its employees to ensure high standards of customer service. Hiring of new qualified employees was effected as a measure to arm the bank with enough manpower. The bank’s newly hired employees were trained in new and more efficient ways of dealing with customers and were tasked to put them in use while serving their customers. The future impact of Mergers and acquisitions Mergers and acquisition result in large banks gobbling up small banks in the process of creating networks both nationally and regionally. This will continuously lead to the increase in the number of the community banks. However this increase can also be caused by or realized if large community banks acquire small community banks and if small community banks continue to merge with each other. Continued merging and acquisition therefore, could lead to a situation where the resultant large banks start suppressing the small banks and even in worse case scenarios pushing them out of the market. This could lead to a banking business less considerate to customers with low income in a given region (Young, 2002). Mergers and acqui
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Running Head: ORGANIZATIONAL CHANGE Organizational change Customer inserts his/her name Customer inserts Grade course Customer inserts Date Organizational change Introduction The current Umpqua bank has grown over the years to become as great as it is now having started as a small community bank founded over five decades ago…
Mountain Bank has four major business lines which include retail banking, consumer lending, real estate, mortgage banking and corporate banking. The bank should adapt a cost leadership strategy where labor orientation is internal emphasizing on efficiency in developing talents thus giving a loyal soldier strategy or internal cost strategy.
Home Depot was initiated in nineteen seventy-nine, and is located in Atlanta. By the end of the year two thousand and five, the revenue had clocked 80 billion U.S dollars. Umpqua bank started as a small-scale retail in nineteen fifty three in Poland. This bank also has several retail sections including boutique.
One of the factors to look at includes relationship between superiors and subordinates, language used, and other various aspects like organizational structures. Changing a culture may be an expensive program. This is illustrated by Umpqua bank billion dollars and therefore positive culture needs to be put in place at the start of intervention of an investment.
There is a possibility of a healthy or weak organizational structure depending upon its infrastructure and how obedient followers are? Every Organization has a different structure based on some basic formal rules, but leadership is the driving force and the executive strength to infuse organizational cultures among all the team members.
The unit of analysis for this particular paper has been chosen due to the fact that Home Depot represents one of the fastest-growing and most profitable consumer chains within the United States. From virtual obscurity, the Home Depot was able to carve out one of the most profitable home-improvement market offerings within the United States.
1. Loan ratio: It is the percentage of the total assets that is given out as loans. Loans are the highest earning assets, and First National Bank has disbursed only about 24% of its total asset base as loans as compared to about 55% for its peers. So, there is a lot of room for improvement for the First National Bank.
Therefore they decided it was time to step out of the box and make a hire of a different kind for their CEO. Risky yes, but so was the things they had in mind for the bank. They hired Davis for their CEO who was not from the banking industry at all. They were growing and they wanted to remain unique.
(Kotler, Philip. Marketing management: analysis, planning, implementation and control 8th ed. Prentice-Hall, 1994) ( Webber)
Globalization and International investment on the rise, the premier business publication Forbes magazine undertook the responsibility of evaluating the world trend in investment and marketing on some sound ground rules which would govern their role in the arena of international player in the world market.
However, as with any change, it is more difficult to maintain than it is to create. This paper will discuss some of those challenges.
Some of the challenges to ensuring that this culture was maintained include things like the fact that this was a small-town bank and the feeling of that needed to be maintained.
The case study discusses the process and methodology utilized by this Bank to establish its strategic plan. The purpose of this paper is to analyze the practices at Second National Bank and offer suggestions on how to improve the company’s strategic planning
4 pages (1000 words)Essay
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