Strategic Adaptability Essay Example for Free

Strategic Adaptability Essay Strategic adaptability is the ability of an organization to make changes in the way they conduct business and look at the various situations which arise. It is imperative that companies remain flexible enough to make adjustments that will beneficial to the well being of the company. There are many different aspects of the business world which can be benefited by the company remaining open to new ideas and options thereby being able to adapt their strategic plan to the current situation. In the case of Queen’s Hotel, changes in the hospitality industry create the need to stay current and flexible in order to maintain a competitive edge. By adapting to the changes in the hospitality industry, Queen’s Hotel will be able to attract customers by offering better customer service. SendOutCards is a company which conducts business solely online. With the growing popularity and convenience of the Internet, more and more companies are seeing a dramatic increase in the electronic side of their business. Because of the wider competition base, it is necessary for SendOutCards to find ways to set themselves apart from the other companies out there. By offering additional services, such as gift baskets, gift cards and e-cards, SendOutCards will be able to increase their sales and customer base by offering more options which will appeal to more people. 3M is a company which manufactures a wide variety of products and has a bigger opportunity to find ways to be adaptable. They can use the example of other companies which are in similar circumstances and learn lessons without the need to experience the event. By adapting in this manner, 3M will be proactive in making sure they are current with the trends and forces which may impact them. Odwalla is in the food and beverage industry and must look to the consumer for the trends which will affect their business. By staying on top of what people are looking for in their snack bars and beverages, Odwalla can provide products which will not only be natural and healthy, but they will satisfy the ever changing preferences of the health conscience consumer. The forces and trends which affect each of these businesses are many and constantly changing. We will address a few of these trends and discuss how these companies can adapt and improve their business by making strategic changes which will turn what could be a potentially difficult situation into a chance to grow and improve. Trends in the Hospitality Industry Every industry has trends and they play a big role in our society. The bell-bottom trend in clothing, the DVD player in an SUV in the car industry, the flat screen T. V. in your living room, but the most important trend is in the travel industry. What is a trend? According to dictionary. om, a trend is the general course or prevailing tendency; drift. If this is a direct quote it needs to be in parenthesis and not italicized! In marketing, it is the direction the market is heading . In economics, it is the behavior of the society. In this synopsis, three trends will be identified, their relevance in the hospitality industry explained, and how Queen’s Hotel has used the trends to strategically plan ahead. The tren ds-Travel, Internet, Casino hotels Travel: According to Plunkett, the travel business is now emerging as a more streamlined, efficient and focused industry. Many of the biggest, most successful firms are becoming extremely global in nature Is this another direct quote? (Plunkett, 2008). Many people are finding ways to travel, either for vacationing, business, or personal reasons. Internet: The information technology highway has found a way to help the consumer plan all their needs with the click of a mouse. The internet provides a simple way for consumers to shop in the privacy of their home. Casino hotels: Many hotels are now casino ready in most parts of the developed world. Casinos have become a trend that people have come to gamble with. Casinos have become part of the entertainment industry and provide a way for clients to book hotel with such amenity. Relevance of the trends in the hospitality industry Because the hospitality industry has become a way of life, many managers face unlimited opportunities to grow their businesses through the rapidly changing demands of their clients. Many hotels are partnering with travel agents to provide package deals for their clients. The travel agents are able to book hotels, tours, and attractions included with the plane ticket. Customers are able to use the internet to find deals. Not everyone prefers travel agents as they also come with a fee, therefore, many people are using the internet to package their travel needs. The internet has become a way to reward people for doing it themselves with online discounts, etc. According to a web article, 15 million people are addicted to gambling, casinos gross more than $30 billion dollars annually, 49% of 15 year olds, 63% of 16 year-olds, and 76% of 18 year-olds gamble (http://www. overcominggambling. com/facts. html Not correct citing) and this statistic is only in the U. S. Many people are attracted to casino hotels as it’s a form of entertainment. Queen’s Hotel Strategic Plan to the trends Queen’s Hotel realizes that travel, the internet and casinos are popular trends in the hospitality industry. The hotel has a website that allows customers to book online. If they do, they are given a 10% discount. The hotel has partnered with many online travel agents to provide package deals to customers. The hotel is looking to undergo a renovation to add a casino. Adding a casino in a third world hotel will give it an edge. Carlos Gift Basket Giving This trend of giving gift baskets has grown extensively in the 21st century. Gift baskets are easily available for purchase online and even more personalized than other items that you can give someone, such as flowers or candy. They allow the buyer to be more creative in their gift choice and they are a little more exciting for clients to receive. â€Å"They are beautiful and brimming with unique gifts and tasty treats. They are a more personalized gift than balloons, and more practical than sending flowers† (James). This trend has given corporate America other alternatives to market to clients, show appreciation or just to increase customer loyalty. It gives them the ability of giving something to their clients, or potential clients, which doesn’t come across as too over the top or too cheap. Relevance The reason why the trend of giving gift baskets has developed so quickly and has gained lots of popularity is that people feel they have more of a personal touch; and with the ease of ordering your gift basket over the internet, the convenience has made it easier for people to choose their options, on their own time frame, without having to go shopping at different stores or even package it nicely for the intended person. Since SendOutCards does all of their business online and offers a wide range of cards for different occasions at prices which are cheaper than those found at your local stores, the option to offer a service to clients other than cards just makes sense. Adaptability SendOutCards has decided to take the time to take advantage of this part of online business as well. Not only is their business based on the same concept of internet ease and options, they are now giving the option to send out a gift along with your card, in the form of candy, books, gift cards, gift baskets and other items. The gift basket, or gift giving industry, is a simple and convenient way to promote more business and to take advantage of a growing need for online purchasing of gifts. As Jennifer James states in her article on Fabjob. com, â€Å"Not only is the work fun and creative, but you can also start a gift basket business easily from home, by setting up a small space where you design and build your gift baskets† (James). Gift Cards The giving of gift cards has become an automatic option for business owners to give to their clients, or even as gifts. It has become so popular that people tend to give them to their family and friends for holidays and birthdays instead of taking the chance of purchasing something that may not be wanted or appreciated. Gift cards have become increasingly popular and can be found in almost any retail business. They are even found in grocery stores. It is almost to the point that people expect to find a gift card at their local retail store. Relevance According to an article in USA today by Rhonda Abrams in 2004; Two recent studies (by the National Retail Federation and by the accounting firm Deloitte and Touche) show the explosive size of the gift card market: †¢ 74. 3% of consumers will buy a gift card this holiday season †¢ 81% of consumers received a gift card last year †¢ 50. 2% of consumers would like to receive a gift card †¢ 12% of shoppers bought gift cards for their own use †¢ 11. 5% of the average consumers holiday budget will be spent on gift cards. (http://www. usatoday. om/money/smallbusiness/columnist/abrams/2004-12-10-cards_x. htm) This is not listed in References and is not correct citing! As we can see, there is a demand for gift cards and corporations are taking advantage of them. Not only do the companies use the gift cards as a selling point for people to buy gifts, they will have the opportunity to get new business from people using the cards and spending more money than what is actua lly on the card because they cannot cash out the card. According to Abrams article, â€Å"Customers buy more. 1% of gift card users spent more than the face value of the card. The average face value of a gift card in 2003 was $47. 20; those who spent more averaged a whopping $90† (Abrams, 2004). Adaptability This is an area that SendOutCards has tried to take advantage of. They do offer gift cards, but only from other businesses. They have not made the move to offer their own gift cards for their own products. It probably is not as feasible for them to do so as it may be more costly for them to pay for the cards and not have people use them since people could only use it for their products. Since most people don’t send themselves a gift or a greeting card, it would be like giving them a gift card so that they can give a gift to someone else, which defeats the purpose of giving a gift. SendOutCards has taken advantage of offering gift cards from other companies because they know there is a demand for them. They have negotiated a deal with these companies and buy them at a discounted price and have created a win-win situation for both them and the retailers who will see the extra revenue. E-Cards E-cards have developed ever since the internet has taken off. You can find about any card and in almost every language on the internet. According to an article by Keith Regan in the E-Commerce times in 2005, â€Å"According to Branch Internet Services, the first e-mail Christmas greeting cards were sent 10 years ago this season, when Dominos Farms Christmas Light Display worked with Branch to offer Web users the chance to e-mail photos of the holiday display. Fewer than 15,000 cards were sent that year, according to Branch† (Regan, 2005). Free E-Cards are offered all over the internet, but the businesses are not making much money. They were relying heavily on advertisement payments through banners and popup on their websites. Sally Babcock, of the e-card giant American Greetings Interactive said, â€Å"Since its inception, AGI, the online unit of the cards giant, has gone from a paid model to a free, ad-supported approach and has returned to a blended, mostly paid model once again† (Regan 2005). Many customers are seeing them as a real alternative to sending out a card in the mail and are even willing to pay the fees for the services. Relevance Ecards are still very popular amongst many internet users. The problem is that they still don’t have the personal touch that a physical card has. According to Babcock, â€Å"Even those who sell them for a living acknowledge that the day may never come when electronic greeting cards replace paper cards. But eCards are already far more than just a time-wasting diversion or a low-cost alternative to the real thing† (Regan, 2005). Some backers like the ecard approach because of the environmental friendly aspect of it. Adaptability The way SendOutCards has adapted to this industry is to offer a service that the online E-cards have not offered to this point. They offer to actually send out a physical card to a client, family, friend or acquaintance directly to the persons’ home. They have even offered the option for their users to send the card in their own handwriting, which personalizes the card that much more. They know that the e-card business is good for their target market, but the market which SendOutCards wants to target is those who want to make a bigger impression. AGI has tried this in the past but has not been successful in its attempts. Babcock admits, â€Å"Also gaining traction are online options to have cards personalized, printed and in some cases even mailed. In those cases, the customer is paying for convenience, said Babcock. â€Å"AGI also offers a print-at-home line of cards, she noted† (Regan, 2005). SendOutCards wants to be able to make a difference in people’s lives. They have the idea that it is more meaningful for people to go to the mail box, open it up and have the physical experience of reading the personalized card. SendOutCards has made it more affordable to be able to send out a card from your computer than it would cost you to go to the store, pick one out, stamp it and physically mail it out. They will do it for you, which takes about 60 seconds to do it all (Eliason, 2008). This is their niche that the industry has not caught up to as of yet. Being able to adapt to the economy and your competition is what will set you apart from others. SendOutCards has the difficult task to stay on top of its competitors by being able to offer a service that other businesses don’t have. They have taken the example of the gift basket industry and implemented what they could to be competitive in the gift giving industry. They know that they can gain clients who want more than just a greeting card. With this knowledge, they have implemented the procedure of offering other options besides just the greeting cards. SendOutCards also applied the example of the demand for the convenience of a gift card. This is an option which they developed in partnership with various retailers. They receive a discounted price for the gift cards in exchange for offering clients the option to purchase them thus allowing both to make money from the proceeds of the card. This also gives clients a larger variety of options. SendOutCards has an advantage over the E-Card industry by offering not only to package and send an actual card, but to do so in the handwriting of the client. They have developed a system which allows people to send the card without leaving their home to shop for the card and the hassle of finding a stamp to send it. They are trying to appeal to the people who still feel it more personal to send a card by traditional mail rather than by e-mail. Johnson and Johnson, Inc. Johnson and Johnson, Inc. s an example of an organization that has had to adapt with strategy to forces or trends that have surrounded the corporation. Johnson and Johnson recently fell into a safety predicament which required immediate action by the company to salvage its image. Johnson and Johnson found themselves losing customers and sales due to the danger of one of their products. Following the death by overdose of several individuals, including youth and child ren, Johnson and Johnson was forced to recall thousands of unsafe bottles of Tylenol (Macdonald, 2007). The primary changes that the company made were in relation to the bottle the Tylenol came in and the removal of a potentially deadly ingredient in the Tylenol. Immediately Johnson and Johnson recalled the entire defective product line and removed all existing product from the shelves. This act alone cost the company millions of dollars and substantial time in revamping the new bottle and new Tylenol formula. Despite this great challenge, Johnson and Johnson was able to seize the opportunity to remarket their product as a newly revamped and safer product. After recalling and removing the defective product, Johnson and Johnson set out a new marketing campaign to reestablish their public image as a safer and more consumer conscience product. The ad campaign worked. Tylenol is now viewed as one of the safest products on the market. 3M could benefit from such a marketing campaign. 3M is a company much like Johnson and Johnson. They both manufacture and distribute millions of different products used all across the globe. Because of the expanse of the market that 3M is targeting, the potential for safety concerns and problems is dramatically increased. M must constantly keep a watchful eye to be apprised of any issues that should arise. An environmental scan will also keep 3M apprised of any safety concerns which arise within the market that could affect their company. Strategic planners with 3M can learn from those at Johnson and Johnson because of the accuracy and timeliness which they responded to the challenge, thus turning it into an o pportunity. In the future, 3M is sure to encounter environmental factors that will place their products in the path of new regulations or circumstances that could threaten the success of the organization. M must act as Johnson and Johnson did by using accurate environmental scanning and acting in a timely manner to save the company. Southwest Airlines Another paramount example of environmental scanning used by strategic planners to help an organization thrive is Southwest Airlines’ use of fuel hedging. â€Å"Using some simple and some complex investment strategies, Southwest has for a decade locked in the prices it pays for large amounts of jet fuel months and even years ahead of time. Its success at that has protected it from run-ups in crude oil prices and dramatically cut its fuel expenses† (Reed, 2008). One area of grave concern in the U. S. economy is the cost of fuel. People all across the country are looking for alternative fuel and cheaper transportation as a means of saving money. The airline industry, on the other hand, has no other resource available. There is no hybrid airplane neither is there one which can run on alternative fuel. Therefore, airlines are forced to look elsewhere to save money. Southwest Airlines has used environmental scanning to conclude that fuel prices are constantly on the rise and can be locked in a contract to be purchased in mass quantities for a cheaper price. By allocating additional funds to pre purchase fuel at a lower cost, Southwest Airlines is placing themselves in a win-win scenario. The oil company would be glad to secure an agreement for guaranteed sales and the Airline Company will jump at the opportunity to save money on fuel that they are certainly going to use. Fuel hedging has proven effective for Southwest Airlines and a similar approach can be an effective money saving technique for 3M as well. 3M constantly manufactures millions of products. The company is constantly receiving supplies of materials from distributors. M must always be on the lookout for trends in the environment that could affect the prices of the products they use in manufacturing. If the company can accurately predict which products will rise in cost due to extenuating circumstances, they can either look for an alternative product or seek some sort of pre purchase order price for said product similar to Southwest Airlines’ use of fuel hedging. Toyo ta Toyota Motor Corporation is a classic example of an organization that is constantly scanning the environment for forces or trends that can affect their business. This strategy has enabled Toyota to become the number one automobile maker in the world (Liker, 2004). When a customer purchases a Toyota they are getting a quality product. Toyota has been successful in environmental scanning in several areas, but in particular they have excelled in a market that is increasingly concerned with fuel economy. Toyota has constantly been at the forefront of knowing what the customer wants and when they want it. Amid the crisis we are facing with the economy, and especially the rising fuel costs, Toyota is able to provide customers with a fuel efficient car. The difference between Toyota’s fuel efficient cars and those of the competition is timeliness. Toyota had anticipated the need for a fuel efficient car long before it became a priority for the competition. Now while the competition scrambles to make a vehicle similar to a fuel efficient Toyota, Toyota is focusing on bettering their product and placing themselves even further ahead of the competition. This is an example of how Toyota has done accurate scanning of the remote environment. The remote environment includes: economic factors, social factors, political factors, technological factors, and ecological factors. Managers must consider the availability of credit, level of disposable income, and the propensity of people to spend when considering economic factors. Other things to consider are the prime interest rates and the gross national product (Robinson, 2004). Toyota has taken into consideration these factors. They have accurately looked at the environment and what the consumer is dealing with and they have catered to the customer accordingly. 3M would do well to follow suit. Much like Toyota, 3M manufactures products for their customers and is not immune to environmental factors. Because of these facts, 3M must adopt an environmental scanning strategy that will enable them to adapt to forces in the environment and come out triumphant. ODWALLA Functional Beverages â€Å"Functional beverages are drinks that have been enhanced with added ingredients to provide specific health benefits beyond general nutrition†¦Consumers are seeking specific health benefits in their foods and beverages and these functional drinks fit neatly into the ‘healthiness-on-the-go’ market† (Sharon Palmer, 2008). Functional beverages are gaining popularity over soft drinks as more and more people are looking for healthier alternatives. These drinks have added ingredients which help to promote a healthy image. Some of these functional beverages have FDA approved claims while others have only minimal amounts of vitamins and minerals and do not provide any real health benefit (Sharon Palmer, 2008). Many companies are beginning to offer a wider variety of functional beverages. Even companies in the children’s beverage market are capitalizing on the turn towards better for you foods and beverages. ‘[A]s more parents seek healthier beverage options for kids, I foresee the continued trend toward more products being all natural, organic, lower in calories, lower in sugar, or having more specific fortifications within their formulations,’ predicts Phan† (Goldschmidt, 2008) senior brand manager at Hansen’s. With this trend gaining popularity among consumers of all ages, it is more than just a passing phase; it is the new way of thinking. Relevance Because functional drinks are quickly becoming an industry staple, Odwalla Inc. is constantly gaining new competitors. With the increase in the number of competitors, Odwalla must always be innovative in its product development. While Odwalla’s products are all natural and retain as much of the natural vitamins and minerals found in the ingredients used, there is a more pressing need for Odwalla to make these benefits known to consumers as the options available are becoming greater. Strategic Adaptability As Odwalla analyzes the growing competition, they will need to remain innovative with their marketing and advertising. They will want to make sure that consumers are aware of the many health benefits already available in their products. They will want to emphasize the fact that their products have always been all natural and fresh with the least amount of processing possible in order to maintain the inherent nutritional value of the ingredients which go into each and every product made. By highlighting these strong points, consumers will be able to see why paying a little more for a much better product really is a better value. Probiotics â€Å"Probiotics are a host of healthful bacteria that help break down and assimilate food† (Kane, 2008) and can be found in a wide variety of foods. Yogurt contains probiotics and many food manufacturers are adding probiotics to their products because of the great health benefit. â€Å"WITH BENEFICIAL LIVE BACTERIA CALLED PROBIOTICS. yogurt bolsters the bodys ability to fend off certain infections and helps keep the intestines healthy, allowing them to absorb more nutrientsand energy-from food† (Boone, 2008). Relevance Odwalla prides itself on providing its customers with fresh, healthy beverages and snack bars and they are always looking for new ways to make their products the best they can be. Probiotics are both healthy and natural and fit right in line with the goals of Odwalla. Since more and more companies are incorporating these bacteria into their products, probiotic additives are going to become better known by consumers and thus sought out because of their natural benefits. Strategic Adaptability Odwalla has the ability to develop a new product which would incorporate probiotics. This would enhance the benefits already afforded by consuming the all natural products of Odwalla. With more people being educated on the benefits of probiotic bacteria, there will be a demand for products which incorporate this. By adding probiotics, Odwalla would help to fulfill its mission of â€Å"soil to soul† (Odwalla President Discusses Strategy with GreenMoney Journal, 2004) because it would allow more of the natural goodness contained within each bottle of juice to reach the soul of the consumer. Specialty drinks in a declining economy The world’s economy has been stagnant and is now in a state of decline. In spite of a tough economy, consumer products manufacturers have continued to experience growth (CPG Industry: Sales Growth in Challenging Economy, 2008). The economy is not showing signs of improvement and things are only going to be getting tougher. With commodities’ prices continuing to rise, consumer products manufactures will need to adopt successful practices in strategic areas in order to continue to grow (CPG Industry: Sales Growth in Challenging Economy, 2004). Relevance The cost of commodities greatly affects the profit margin of Odwalla. They rely on having fresh products available at all times and can be crippled by shortages due to natural disasters as well as price hikes caused by the increasing cost of doing business. These things take a toll on the bottom line and can lead to financial struggle within the company as well as strained relationships with suppliers. Strategic Adaptability There are different options available to Odwalla to help them through the period of economic hardship. As they contract with suppliers, they can negotiate pricing which will benefit both parties. They have the option of purchasing farms which would produce the produce needed for their products, thereby eliminating the need for a middle-man supplier. Also, plans to produce new products can be put on hold until the economy recovers. By holding off the added expense of developing and marketing a new product, Odwalla would be able to focus on their better sellers and allow them to carry the company through the difficult times. Conclusion The world of business can be challenging and exciting. By staying on top of current forces and trends, managers are able to help their businesses thrive in an ever changing market. Change is not limited to one area or aspect of a corporation and by following the examples of other companies, change can provide a new opportunity for growth and development. Retaining the ability to adapt the strategic goals of the corporation can mean the difference in being an industry leader, or a company which has already had its day and is on its way out.

Preparing for and Having a Baby :: Pregnancy Childbearing Essays

Preparing for and Having a Baby There are many different areas to consider when preparing for and having a newborn. Whether the pregnancy was planned or unplanned or the couple is married or not, a newborn baby brings new responsibilities. Having a baby also forces people to make adjustments both financially and within the family. Parents also express concerns and expectations when having a newborn comma especially when it is their first; including what roles each parent and family member should play, how much confidence they have in their parenting skills, and how much financial strain would be placed on the family once the newborn has arrived. The newest issue in today’s society is the fact that many women are delaying childbirth and having more children in their later years of life. This paper will examine three of the areas associated with planning a newborn child, including single parenting, concerns and expectations parents have when planning for and having a child, and financial issues that mothers face when planning a pregnancy. (Specify if you are talking about single moms or parents/couples, if talking about all of them you might want to consider narrowing your research.) (Introduce this quote, where did you find it, how did you find the site, remember that this is a narrative, you are walking me through the steps of your research. ) â€Å"Today, about one in every three U.S. births occurs outside of marriage. The proportion of births to unmarried women has risen monotonically over time, and attitudes toward non - marital fertility have become progressively more tolerant† (Musick, 2002, p. 915). Sometimes these births are planned and at other times they are not. â€Å"Dramatic increases in cohabitation and associated delays in marriage have changed the composition and character of non-marital births. Unmarried mothers now tend to be older, to have other children, and to be living with a partner at the time of their child’s birth† (Musick, 2002, p. 915). What significance does this have to your research? What does it prove? Why did you include it? The article that I researched regarding this area explores the reasons why women may be taking the steps to start a family without marriage, whether these pregnancies are planned or unplanned. The study was conducted using a couple of different methods including the National Survey of Family Growth and a Discrete-Time Hazard Model. â€Å"The National Survey of Family Growth is a periodic, nationally representative fertility survey conducted by the National Center for Health Statistics.

Global Warming Satir

Global warming is a blessing. I had to do a research paper for my oceanography class about global warming. As I was doing my research, I realized global warming is not a problem at all. Everyone talks about global warming as a problem and how is it going to be a struggle for us to solve it. I see the opposite of that. I think global warming is a big beneficial for mankind in many ways. The earth is going to warm up including people, carbon dioxide will increase, ocean levels will rise and the economy will increase too.As the earth is warming and the weather is always warm, people will not need to heat their house and their heating bills with decrease which saves them money. One study said that warmer winters could save up to 40,000 lives a year in the United States alone, which means less people will die of the cause of cold weather diseases. This also means the cost of health care will also decrease. The carbon dioxide will increase which is great, because plant growth will increase .Increasing in plant growth mean decreasing in the price of food. It also means there will be enough food for everyone and we are going to solve one of the biggest problems which is world hunger. Ending of world hunger means less skinny people will be seen in the world. I have always dreamed to live next to the beach, now with the global warming, my dream will come true. The rise of ocean level due to the melting of icebergs will make the beach closer to home, especially because I live far from the beach.This is a great benefit not only for me, but for everyone that lives far from the beach. Every morning, opening the windows, looking at a beautiful view of the beach, this is marvelous. Without icebergs in the way, the Arctic Ocean would be completely open, creating a new trade route from the Atlantic to Asia. Traveling tickets are always expensive in summer, but global warming could make fall and winter warmer, which means people will not need to travel only in summer and traveling tickets are less expensive.People who have houses next to the beach will have an increase of property value. All that will boom the economy, so there will be no more poor countries. Global warming should be seen as an advantage not as a problem. People should stop complaining about how dangerous is. With the decrease of people dying, the increase of plant growth, beaches close to home and the new trade route from the Atlantic to Asia everyone with should think global warming is a blessing.

Group of individuals working together to achieve a common goal - Free Essay Example

Sample details Pages: 23 Words: 6840 Downloads: 3 Date added: 2017/06/26 Category Management Essay Type Research paper Did you like this example? Introduction An organization can be defined as a group of individuals working together to achieve a common goal or objective. In the business environment various types of organization can be observed, i.e. profit making vs. Don’t waste time! Our writers will create an original "Group of individuals working together to achieve a common goal" essay for you Create order non profit making, product based vs. service based, localized vs. international and etc. The goals and objectives of an organization would vary according to the type of organization. Since the capability of the organization depends on the ability or the performance of the individuals who works in an organization, ability of the employees can be enhanced through various factors and also through better structure and culture of the organization. For the purpose of this report the organizations which were selected are Nations Trust Bank and Standard Chartered Bank. Nations Trust Bank can be considered as one of the fastest growing banks in Sri Lanka today. As a young and dynamic bank, it has immediate appeal for young and sophisticated professionals looking for a bank they can identify with. The bank has 40 branches, 9 leasing centers, 43 ATMs, 6 personal banking centers as well as Internet Banking. Considered to be one of the most customer-centric financial institutions today, Nations Trust Bank provides tailored services for contemporary lifestyles. Standard Chartered PLC is a British financial services company headquartered in London, England with operations in more than seventy countries. It operates a network of over 1,700 branches and outlets (including subsidiaries, associates and joint ventures) and employs 80,000 people. Despite its British base, it has few customers in the United Kingdom and around 90% of its profits come from Asia, Africa, and the Middle East. Because the banks history is entwined with the development of the British Empire, its operations lie predominantly in former British colonies, though over the past two decades it has expanded into countries that have historically had little British influence. Organizational Structure and Culture The selected organizations, which are Nations Trust Bank and Standard Chartered Bank, belong to service sector organizations and provide a range of banking services. However, Nations Trust Bank and Standard Chartered Bank can be categorized as national and multinational respectively; it was possible to arrive at the following conclusion after considering the geographic area in which these organizations operate. Nations Trust Bank can be considered as a localized, national bank as it only operates within Sri Lanka, whereas Standard Chartered Bank has established a global network which spreads over 70 countries from Asia, Africa, America, Europe and Middle East. Hence Standard Chartered Bank can be classified as a multinational organization. Organizational Structure The main purpose of organizational structure can be identified as the division of work among member of the organization, and the co-ordination of their activities so they are directed towards the goals and objectives of the organization. There are mainly three types of organizational structures. 1) Functional Structure: In such a structure groups of people who hold similar skills or perform similar tasks are clustered together and usually departments are formed. 2) Divisional Structure: Divisional structures can be of three types. They are, Division based on Product: Each product division contains the functions necessary to that service the specific goods or services it produces Division based on Market: Group functions into divisions that can be responsive to the needs of particular types of customers Division based on Geography: In such a structure regional divisions are set up to service customers in different geographic areas 3) Matrix Structure: In a matrix s tructure specialists from functional departments would be assigned to work on one or more projects that are lead by a project manager. As Nations Trust Bank and Standard Chartered Bank are public limited companies and specially the latter being a very large organization, these organizations need to follow a formal organizational structure where they would be able to monitor the activities, assign responsibility for groups and individual members and co-ordinate different parts of the organization. The members or the employees within Nations Trust Bank have been categorized based on the field or the area in which they are specialized, for instance those who are specialized in sales and marketing would be assigned work related to sales and marketing and would be clustered together. According to this, various departments in Nations Trust Bank have been created, where, for each department an individual leader would be assigned to ensure regulated smooth flow of business operations. These individual leaders would then report the overall progress of each department to the top management and board of directors as required and decisions would be made with the involvement of the top management. Hence, it is possible to arrive at the conclusion that Nations Trust Bank follows a functional organizational structure which is more of a centralized structure. Further it could be said division of work within Nations Trust Bank has taken place by major function or purpose. It could also be said that Nations Trust Bank follows more of a centralized structure than a decentralized structure as the organization sets down policies which would affect the organization as a whole and also mainly since all decisions would be made under strict management supervision and involvement. This centralization could also be due to the cultural effect which is prominent within the country, which is the power culture where control is the key element. Based on the above information it c ould be understood why Nations Trust Bank follows a functional organizational structure and also it could be understood that Nations Trust Bank follows a functional organizational structure as it has a range of services which can be grouped under one leader. Nations Trust Bank has the following advantages of using a functional organizational structure. Since all the employees who are specialized in a specific area are clustered together, newer employees and other employees would be able to learn easily from each other. Employees would be able to benchmark themselves with other employees who have higher performance and are working in the same specialized area and would develop themselves further in a more competitive manner. In the following structure the decision making process is bureaucratic. Since the culture which is mostly commonly seen within Sri Lanka is power culture, when the bank follows such a structure it will be easier to control the organization in order to achieve its goals and objectives as expected. Since all employees perform similar task within one department work specialization takes place and this would help the organization to increase overall productivity. Nations Trust Bank not only has advantages of following a functional organizational structure but it also has some disadvantages. Since decisions are always made with the involvement of the top management individual employees would not be able to make decisions on their own resulting in inefficiency. The organization follows a bureaucratic decision making process and also problem resolution process; this would mean a low level of employee participation. As a result the chance for a successful leader to be born in such an environment would be low and hence the chance for the organization to gather new leaders from within the organization who understand the nature of the organization would be low. Standard chartered bank is a large multinational organization wh ich operates in more than 70. Unlike in Nations Trust Bank, Standard Chartered Bank does not follow a functional organizational structure and is less centralized (but the bank follows a centralized structure) meaning Standard Chartered Bank gives more authority to its employees than Nations Trust Bank. Instead of following a functional organizational structure, Standard Chartered Bank follows what is called a divisional organizational structure according to geographic area. Where Standard Chartered Bank would have a regional or divisional head for each region within which it operates. Standard Chartered Bank mainly has the following advantage of using a divisional structure according to geographic area. The bank would be able to provide banking services which would be more suitable for each country. For example Standard Chartered Saadiq Banking is a service associated with Islamic banking, in other words the bank follows Shariah principles. The bank has provided various Islami c banking products and services for countries where Islamic population is high (e.g. Malaysia, UAE, Pakistan and Bangladesh). Beyond this there are a few disadvantages of using such a structure. These disadvantages are listed below. Since there would be repetition of similar jobs the operational overhead cost would be high. Since the branches of the bank would be benchmarked against each other conflict situations may arise. After analyzing the above mentioned information it was possible to arrive at the conclusion that a divisional structure would be the best organizational structure from the above two organizational structures if Nations Trust Bank has an intention to expand overseas as it will be easier to control the organization and since it would not be very practical to use a functional structure in such a situation. And also becoming less centralized will help the organization to function with more efficiency. Organizational Networks and Linkages Nations Trust Bank has a network which covers only Sri Lanka. Due to this network the bank has been able to expand itself throughout the island in such a manner that customers would be able to carry out banking transactions easily from any part of the island where there is at least an Automatic Teller Machine available. The bank uses the Flexcube Banking System to maintain the network of branches, outlets and ATMs. It has been identified the availability of flexible working programs within Nations Trust Bank is low. Part time employment can be identified as the only significant flexible working program at Nations Trust Bank. Standard Chartered Bank covers a wide range of countries unlike Nations Trust Bank. The bank uses computer software in order to maintain a global scale network. Especially the bank would use Sun Microsystems platform or UNIX platform software in order to maintain the data base. These systems enable the centralization of data for the bank. Standard Chartered Bank has recognized the importance of flexible working programs. The bank has understood flexible working programs play a vital role in retaining employees, increasing engagement and attracting a larger and more diverse pool of talent. Hence the organization is trying to introduce more flexible working programs. At the moment the bank uses the following flexible working programs; part time employment, switching between shifts (the employee would be given the opportunity to choose the shift during which he prefers to work) and also the bank has introduced working from home facility initially in four countries namely Ghana, United States, United Kingdome and Singapore. However, the bank does not follow working from home facility in Sri Lanka. Organizational Culture Each organization will have its own unique organizational culture and most of the time large organizations would tend to have a mix of these cultures. 1) Power Culture: Power culture is common for small and medium size organizations. In such organizations decision making is centralized and also these organizations can react quickly to danger around as there would be no consultation required. Further, in a power culture control would be the key element. 2) Role Culture: Role culture is common for large organizations. The key element would be the area of specialization. 3) Task Culture: Task culture is popular in modern business society and refers to a team based approach to complete a particular task. In such a culture staff would feel motivated because they are empowered to make decisions within their team. 4) Person Culture: Person culture is common in non profit or charity organizations. The main focus of such organizations is the individual or a particular aim. 5 ) Forward and Backward Looking Cultures: Forward looking organizations are risk takers and perform well due to this risk taking ability. Whereas backward looking organizations are organizations which do not embrace change and are led by systems and procedures. When the organization, i.e. Nations Trust Bank, has been analyzed it was possible to identify the organization has a dynamic and a fast paced working environment where open feedback, performance based rewards and remunerations are encouraged. Further employees are encouraged to develop new skills and are empowered by the provision of career opportunities which have a variety of different features. Based on this information it was possible to identify that the culture within Nations Trust Bank is a forward looking culture which has allowed the organization to perform well, expand and become one of the youngest and successful banks within Sri Lanka. However, the bank has some aspect of power culture as well. This could mainly be seen in the decision making process where employees would tend to rely upon some superior source when making a decision. Power culture within the organization could be due to the strong power culture existing within the country. Standard Chartered Bank being a bank which operates in more than 70 countries with its headquarters located in London, England would mainly follow the organizational culture which is prominent within its headquarters, this would be role culture. However, there would be variations to the culture of branches operating in other regions as it would not be practical to follow an organizational culture which would conflict with a particular regions culture. For example consider the United Kingdom headquarters and the Sri Lankan Head Office. Employees in United Kingdom would usually be clock conscious as they would consider time is money and also it is unprofessional to get late for work, whereas in Sri Lanka the employees would not really see much of a d ifference in getting late for work as the country would naturally have easy going relaxed people who would not hurry things. The headquarters would naturally assume that all employees of the bank would perform their tasks and duties on time as this is their culture. However, this would not be the case in most situations and therefore to ensure that work is done the branches in Sri Lanka would have to lay down strict rules and regulations. Constant reminders too would have to be given in order to get a task done. And hence the culture of the country automatically starts taking effect where power culture would have to be followed in order to achieve the expected. However, on analyzing the overall information of Standard Chartered Bank it can be understood that the bank has a unique culture which it has developed through the years by communicating with broad ranges of stakeholders, prospective employees and customers. Based on the above information finally it was possible to arri ve at the conclusion that organizational culture plays an important role in forming an organizational structure as well as for the success or the failure of a business. Misinterpreting the culture in which an organization operates can lead to conflict and finally maybe even complete shutting down of the organization. Therefore it is a must to interpret and understand the culture within which an organization operates and to select an appropriate organization structure on this basis. The Human Resource Function Stakeholder Perspective: It is clear that stakeholders would have objectives and would expect organizations to achieve these objectives. The organizations should always consider their stakeholders point of view before making any decisions as this will help to minimize conflicts and avoid a purely instrumental or theoretical approach to Human Resource Management. Nations Trust Bank considers the impact of its activities on various stakeholder groups, carries out activities which will develop a good relationship with stakeholders and also abides by the rules, regulations and carries out business in an ethical manner for the above mentioned purposes. The same would apply to Standard Chartered Bank. However, the branches of Standard Chartered Bank would provide more flexibility (especially for employees) and facilities than Nations Trust Bank. Human Resource Roles: The role of Human Resource Management (Personal Management) is taking care and handling the organizations most importan t resource which is the people resource or the employees. Human Resource Management would help the organization to maintain a balance and efficiently coordinate with the employees so they can work more efficiently and effectively. The HR department of Nations Trust Bank carries out an immense number of activities for the above mentioned purposes; these activities range from arranging functions such as Christmas Eve get-togethers to New Year celebrations where management and employees from various departments can interact with each other. Beyond this career guidance programs, training and development programs (the bank has a special training and development team for this purpose), remuneration and reward schemes and exit interview are conducted. Standard Chartered Bank too carries out an immense number of activities like Nations Trust Bank to ensure that they stand by their HR roles. Further, Standard Chartered Bank provides a day care facility; the centre provides day care ser vices and educational activities throughout the working day for children aged between six months and 12 years. The organization also carries out exchange programs (India China exchange program) so that employees would have an exciting opportunity to advance their careers and experience a new culture. For the Bank, it is an opportunity to facilitate the sharing of best practice, ideas and new ways of working between two key markets. Personnel Policies: An organizations personnel policy means a plan, a course of action or guiding principles which that business will use to influence and determine decisions, actions and other matters. Both Nations Trust Bank and Standard Chartered Bank would have various personnel policies. For example Standard Chartered Bank has developed a policy on the Human Immunodeficiency Virus (HIV) and Acquired Immune Deficiency Syndrome (AIDS). By this policy the bank ensures that its employees who have HIV AIDS can still work as normal employees without an y form of harassment. Where Nations Trust Bank has a policy, going paperless, by which it tries to minimize the usage of paper by transferring all its activities to non-paper based forms such as emailing. By this the organization expects to protect the environment. Beyond the above mentioned policies both of these banks would have numerous policies which have been set in place regarding various matters. Strategies, Operating Plans and Strategic Goals for Personnel: An organizations strategy is about what the organization wants to achieve in the long term. There would be various techniques followed by an organization to achieve these goals and objectives. For example, Standard Chartered Bank wants to achieve growth and it plans to do so by following a simple method where it would ask itself self assessment questions and by following a SMART approach. The bank would apply the same procedure for its employees. Nations Trust Bank follows a similar approach where it has stated its st rategic priorities and how the bank expects to achieve them. Finally it was possible to arrive at the conclusion that carrying out Human Resources Functions would help any organization to be successful. For these purposes various elements such as stakeholder perspective, HR roles, personal policies, strategies and operating plans, and strategic goals for personnel have to be considered. Individual Behavior at Work Each individual would be different from each other in some aspect or the other. These differences could be due to demographic factors, abilities and skills, perception, attitude and personality. These factors would not only differentiate individuals but would affect their on the job performance as well as their behavior. Nations Trust Bank would have employees from various ethnic groups in Sri Lanka. Therefore the employees at Nations Trust Bank would be able to experience the difference between each culture and would behave according to the stimuli they receive from the working environment. Due to the civil war which was going on for many years, some of the Sinhalese employees working at the bank would have formed a perception about Tamil employees and would have a different attitude towards these employees, where they would tend to act in a negative unfavorable manner, lose interest and in turn would think negatively regarding their job. Beyond this the Sinhalese employees may think that they are better able to perform the tasks rather than Tamils due to cultural factors. Also since some of these Tamil and Sinhalese employees would have been affected by the civil war, the personality of these employees may have been affected and may have induced negative thinking patterns within them. This may lead to conflict within the organization. However, Nations Trust Bank treats all employees equally and has taken many measures to ensure that no conflict takes place. In fact Nations Trust Bank encourages its Sinhalese employees to learn the Tamil and Tamil employees to learn Sinhalese. Further, the bank has encouraged interaction between these groups of people through various social activities so that they would be able to better understand each other and value each others culture. The bank provides counseling sessions, training and development and also carrier guidance for these employees so that they can improve themselves. This would help the employees to un derstand their tasks and duties better, will lead to improved performance, help employees to understand the importance of what each other is doing and appreciate their performance. Since Standard Chartered Bank is an international bank the demographic element in terms of especially in terms of culture would be very prominent. The branches which operate in Sri Lanka would undergo nearly the same issues related with individual behavior at work and follow similar measures to prevent conflict of any form. However, when Standard Chartered Bank is considered from an international point of view it is clear that the bank would like to increase interaction and gain better understanding of different cultures as well as provide its employees awareness regarding different cultures. A clear example for this type of attempt is the employee exchange program which the bank conducts, for the first time this was done between India and China. Further the bank has included female workforce where 46% of the workforce are females and employees with disabilities where the first employees with disabilities were from Sri Lanka. Further the bank believes that different employees from different regions have skills which would be useful for other regions this is another aspect which Standard Chartered Bank has considered in its employee exchange program. These exchange programs will help the employees with different skills to interact and help employees to identify their skills. This will help employees attitude as this will encourage positive thinking. Also this would help employees to gain confidence and in terms improve their personality. This would affect their behavior at work. Beyond this the organization has established a day care facility in Sri Lanka. This will help the working parents to attend their duties without worry and this will help overall attitude of the employees during work making them more productive. Provisions of such facilities help the employees have a better perception of the organization. On analyzing the above information it was possible to arrive at the conclusion that behavior of employees at work from both organizations would be affected by factors such as demographic factors, abilities and skills, perception, attitude and personality. It was also possible to arrive at the conclusion that developing understanding among employees will help the organizations function as one unit and achieve the goals and objectives of that organization. Approaches to Management and Theories of Organization Management approaches and organizational theories deal with how an organization achieves its management objectives through the organizational structure, its design and other elements. The management theories can be classified as five major schools of management thought. They are, Classical School of Management (Includes Scientific Management and Bureaucratic management) here the emphasis was on managing workers and organizations more efficiently Behavioral School of Management (Includes Human Relations) here the emphasis was on understanding human behavior in the organization Quantitative School of Management here the emphasis was on increasing quality of managerial decision-making through the application of mathematical and statistical methods Systems School of Management here the emphasis was on understanding the organization as a system that transforms inputs into outputs while in constant interaction with its environment Contingency School of Management (Incl udes Contingency approaches) here the emphasis was on applying management principles and processes as dictated by the unique characteristics of each situation It was understood that Nations Trust Bank follows a functional structure and Standard Chartered Bank follows a divisional structure based on geographic area. Standard Chartered Bank follows a mixed structure where centralized and decentralized are both considered when making decisions. And Nations Trust Bank follows a centralized approach. Further it was identified that Nations Trust Bank follows a tall span of control whereas Standard Chartered Bank has a flat span of control. Based on the above information it is important to understand the management theories which the organization follows. Classical School of Management: Even though scientific management was introduced many years before, organizations still use these principles or theories with minor adjustments. When scientific management is considered, Henry Fay ol would be the significant character which would emerge. Todays organizations follow what Henry Fayol introduced with minor adjustments. Bureaucracy means the usage of rules, regulations, policies, procedures and standardization of activities. This concept was introduced by Max Weber. This type of management would be used in the military and not in a bank usually. This could be understood through the way in which both banks operate. Behavioral School of Management: According to research which was carried out it has been possible to identify that human interaction or group relationships have a direct impact on productivity and would help to increase the motivation of employees. Therefore, the behavioral management school principles are more focused to understand individual employees behavior, their interaction and also motivational factors. When Nations Trust Bank has been considered it was possible to understand that the organization carries out many activities which would encou rage employee communication. Further, the employee exchange program which is carried out by Standard Chartered Bank can be considered as another example. Systems School of Management and Contingency School of Management: As it was mentioned before both the organizations, Nations Trust Bank and Standard Chartered Bank, follow a centralized structure. However, in the case of Standard Chartered Bank centralization is less prominent as the bank believes that empowerment of employees would bring out the best from the employees. In a systems approach the organization as a whole would be considered as one system and hence in these type of systems integration, communication and independence plays a vital role. Whereas in contingency approach it is believed that there is no best way to arrange an organization and this has to be decided based on the nature of the organization. Finally, it could be understood that even though organizations still follow scientific management they try to m ove more towards the usage of human relations approach and a contingency approach. Functions of Management There are mainly four functions of management. These functions are, 1) Planning: Determines the broad lines for carrying out operations, preparing methods by which they are carried out and setting standards of performance. When planning is done the management of the organizations would need to gather information from the environment in which they operate. For this purpose the organizations would use the macroeconomic factors and would use the PEST tool. Nations Trust Bank and Standard Chartered Bank would both use the PEST tool so that they would be able to analyze the macroeconomic factors which would affect their organization. PEST factors would nearly be the same for both these organizations when the Standard Chartered Bank which operates in Sri Lanka is considered but the bank would have a greater international influence than Nations Trust Bank. The constant changes in the environment should be regularly noted through the PEST tool and based on that the organizations shou ld be able to respond. Further, planning would have the following aspects; forecasting, utilization and also action decision. 2) Control: Checking actual performance against standards to ensure satisfactory progress and performance, and recording as a guide to possible future operations. Control is a vital element for both, Nations Trust Bank and also Standard Chartered Bank, as it is the only way by which the managers can find out if the organization is achieving the goals and objectives. Controlling can be carried out by standards, measurements and comparisons. For example, when considering the employee turnover for both the organizations, Nations Trust Bank has been able to continuously decrease its employee turnover. However, at Standard Chartered Bank the employee turnover in countries like India and Pakistan has been increasing. To prevent this bank has introduced a pilot. Further, organizational performance could be measured based on productivity measures, through fi nancial rations which could be compared against benchmarked companies, by setting standards and having key performance indicators. 3) Co ordination: Balancing and marinating the team by ensuring a suitable division of work and seeing that tasks are performed in harmony. Both banks have been able to co ordinate their activities through suitable divisions. In the case of Nations Trust Bank the bank has ensured that its range of diverse employees would better understand each other through various activities so that ultimately they would be able to work together as a team to achieve the goals of the organization whereas in Standard Chartered Bank the organization would also have to consider the international market within which they operate so that they would be able to better co ordinate activities. For the purpose of coordinating both organizations have established their individual set of goals and objectives, and in order to achieve these goals and objectives the organizatio n will have to manage not only their human resource but all other resources. 4) Motivation: Getting members of the teams to work effectively, to give loyalty to the group and to the task, to carry out their tasks properly, and to play an effective part in the activities of the organization. It is understood that the main task of a manager is to get things done through employees. But in order to get employees to perform some task they would need motivation. Nations Trust Bank provides motivation for its employees through various methods ranging from provision of a safe and a healthy working environment to empowerment of employees, to provision of rewards and awards. This would help to uplift the employee morale and in turn motivate the employees to work for the organization. At Standard Chartered Bank similar practices are carried out but it could be said that since the branches operating in Sri Lanka provide almost a foreign background or an organizational culture the emplo yees may find themselves less motivated to work in such an environment. However, the bank provides a greater variety of motivational factors than Nations Trust Bank for its employees and this has been helpful for the organization in retaining employees. Managerial Roles Interpersonal Roles (Figurehead, Leader, and Liaison): Interpersonal roles can be defined as relations with other people arising from the managers status and authority. 1) Figurehead Role: A Figurehead role can be defined as the most basic and simple of managerial roles. Here the manager would be considered as a symbol which represents the organization in matters of formality. The manager would be involved in matters of a ceremonial nature such as signing of documents, participation as a social necessity, and being available to those who demand access to top authority. 2) Leader Role: A Leader role is among the most significant of roles and it spreads through all activities of a manager. They would have a responsibility for staffing, and for the motivation of subordinates and guidance of subordinates. 3) Liaison Roles: A Liaison role involves the manager in horizontal relationships with individuals and groups outside their own unit, or outside the organization. An importan t part of the managers job is the linking between the organization and the environment. Informational Roles (Monitor, Disseminator, and Spokesperson): The informational roles relate to the sources and communication of information arising from the managers interpersonal roles. 4) Monitor Role: Identifies the manager in seeking and receiving information. This information enables the manager to develop an understanding of the working of the organization and its environment. Information may be received from internal or external sources, and may be formal or informal. 5) Disseminator Role: Involves the manager in transmitting external information through the liaison role into the organization, and internal information through leader role between the subordinates. The information maybe largely factual and may contain value judgments. The manager is most important person here; he may refuse to provide information. This can bring about difficulties for delegation. 6) Spokesperso n Role: Involves the manager as formal authority in transmitting information to people outside the unit, such as the board of directors or other superiors, and the general public such as suppliers, customers, government departments and the press. Decisional Roles (Entrepreneur, Disturbance Handler, Resource Allocator, and Negotiator): The decisional roles involve the making of strategic organizational decisions on the basis of the managers status and authority, and access to information. 7) Entrepreneurial Role: Is the managers function to initiate and plan controlled (i.e. voluntary) change through exploiting opportunities or solving problems, and taking action to improve the existing situation. The manager may play a major part, personally seeking improvements, or may delegate responsibility to subordinates. 8) Disturbance Handler Role: Involves the manager in reacting to involuntary situations and unpredictable events. When an unexpected disturbance occurs the manager mu st take action to correct the situation. 9) Resource Allocator Role: Involves the manager in using formal authority to decide where effort will be expended, and making choices on the allocation of resources such as money, time, materials and staff, The manager decides the programming of work and maintains control by authorizing important decisions before implementation. 10) Negotiator Role: Is participation in negotiation activity with other individuals or organizations, for example new agreements with a trade union. Because of the managers authority, credibility, access to information and responsibility for resource allocation, negotiation is an important part of the job. Interpersonal Roles at Nations Trust Bank and Standard Chartered Bank: The top middle managers can be considered as the figureheads of Nations Trust Bank and Standard Chartered Bank. These managers will communicate future organizational goals or ethical guidelines to employees at company meetings. A leade r from these organizations would be any person who would act in an exemplary manner for other employees to follow, who would give commands and direction and who would be able to make decisions with less dependence on other superiors when possible. In the role of liaison the managers in the case of Nations Trust Bank coordinate the work of other employees in different work units and form alliances. In Standard Chartered Bank the role of liaison would be extended to the point of sharing resources such as human capital so that they would be able to become more competent in the industry. Informational Roles at Nations Trust Bank and Standard Chartered Bank: The top level managers of Nations Trust Bank and Standard Chartered Bank would monitor the external environment changes. The organizations would use the PEST tool for this purpose, where the middle managers and first line managers would monitor changes within the organization which can affect individual and organizational performa nce. The above mentioned would be the role of monitors. The role of disseminator would be to inform the organizations employees of changes which affect them and also the organization. Managers at each level would disseminate information to those below them. And most of this information would be coming from the top of the organizational hierarchy since these organizations would be more towards a centralized structure. The spokesperson would form the communication link with the external environment from advertising about the banks services. The spokesperson for major announcements in both banks would be top managers, especially in the case of Nations Trust Bank. Other routine information would be provided by any manager in the case of Standard Chartered Bank but in the case of Nations Trust Bank still a senior or a top level manager would be used. For example press releases to the local newspapers would be done by senior managers or the C.E.O of Nations Trust Bank. Decisional Roles at Nations Trust Bank and Standard Chartered Bank: The entrepreneur role requires the managers of each bank to assign their resource to develop services or to expand. In the case of Standard Chartered Bank the managers have made to sure that employees experience differences through various methods, this will help the employees develop new services for the organization. Senior managers of the banks would be those who are in charge of such operations. The disturbance handler corrects unexpected problems which the organizations face from the internal and external environment. This could be done by managers at all levels. Resource allocator involves determining which work units will get which resources. Top managers would make large decisions where as middle managers would be given the authority to make more specific allocations. Negotiators work with others such as labor unions to reach agreements regarding products or services. In Nations Trust Bank the middle managers would negotiat e with employees with issues of salary increase. Top managers would negotiate on issues such as mergers and acquisitions of other companies. This would be very prominent for both these organizations as these two organizations tend to expand more through acquisitions and mergers. Nature of Managerial Authority Nature of managerial authority can be of four types. They are, 1) Authority: Authority is seen as the right of a person to exercise influence or the right to make decisions, to carry out actions, and to direct others. As part of their structure, organizations have a formal authority system that depicts the authority relationships between people and their work. Different types of authority are found, they are: line, staff, and functional authority. Line authority is represented by the chain of command. Staff authority is advisory authority. Functional authority allows managers to direct specific processes, practices, or policies affecting people in other departments. Based on the information gathered such as the structure of the organization and the way the organization functions it was possible to identify that line and functional authority is used by Nations Trust Bank. Standard Chartered Bank follows a combination of both staff and functional authority. Authority can also b e viewed as arising from interpersonal relationships rather than a formal hierarchy. 2) Responsibility: Responsibility is the obligation to accomplish the goals related to the position and the organization. Managers primary responsibilities are to examine tasks, problems, or opportunities in relationship to the companys short-and long-range goals. The managers at Nations Trust Bank and Standard Chartered Bank have taken vast measures to ensure that the organizational goals and objectives would be met and they would also examine various problems and come up with solutions for these problems through various methods such as interaction with customers and employees. 3) Delegation: In order for managers to achieve goals in an efficient manner, part of their work may be assigned to others. When work is delegated, tasks and authority are transferred from one position to another within an organization. The key to effective delegation of tasks is the transference of decision-making aut hority and responsibility from one level of the organization to the level to which the tasks have been delegated. In Nations Trust Bank the delegation of tasks does not take place on a great scale but in Standard Chartered Bank the management has delegated more power to its employees than at Nations Trust Bank. The variation in delegation of power is due to the cultural differences of the organizations. As Nations Trust Bank follows more of a power culture there will be less delegation of authority whereas in the case of Standard Chartered Bank, the bank follows a role culture hence the bank will delegate more authority to its employees. 4) Power: Power can result from controlling access to important information about daily operations and future plans. Also, having access to and deciding to limit or share the resources and materials that are critical to accomplishing objectives can provide a manager with a source of power. Managers usually have access to such information and reso urces and must use discretion over how much or how little is disseminated to employees. Managers of Nations Trust Bank and Standard Chartered Bank exercise their power to achieve the organizational goals and objectives through various measures, for example assignment of tasks, allocation of resources as required and introduction of rules. 5) Conflict: Refers to the long-term management of intractable conflicts. It is the label for the variety of ways by which people handle grievances, standing up for what they consider to be right and against what they consider being wrong. As it was mentioned before both Nations Trust Bank and Standard Chartered Bank follow many methods to prevent conflict and also to resolve conflict if conflict occurs. Both banks have established a range of policies for these purposes and also conduct many programs ranging from counseling to conducting social activities through which people would be able to gain awareness from to CSR activities. Further, vario us educational programs have been carried out by Standard Chartered Bank so that management would be able to have a better understanding and prevent conflict not only within the organization but also with the external environment of the organization.