Management Control System of a Bank

In the large corporation of Regions Bank, there are many specific details involved in creating and maintaining the perfect organizational structure. It takes efforts from the managers and leaders to implement a design to promote stock holder profits, growth, and stability. In this organization there is a cycle that is used that involves four functions of management. Regions Bank also utilizes two strategies to create and maintain a healthy organization.

With the help of conclusions described in the last chapter, recommendations are developed and designed to present personal and independent point of view for the betterment and development of the organization. Recommendations are integral part of report and become imperative for internship report. Findings and Recommendations for MCB are as follows which will help the reader to understand all the aspects of the bank.

The management has to be vigilant when managing these factors for the future betterment of the company (Drucker, 2016).

A business has many influences that provide a duel effect on its operations. Not only can they cause the business to undergo change and continually adjust to the external factors in the business environment, but they also provide threats and opportunities in the operations process.

Businesses continually adapt to a changing environment to maintain their market position (Appelbaum, Habashy, Malo, & Shafiq, 2012; Biedenbacha & Soumlderholma, 2008). Change is inevitable considering the current rate of technological advancement and the growth in global competition (Appelbaum et al., 2012; Armenakis & Harris, 2009; By, 2007). Increasing competition and the need for strategic flexibility and globalization is affecting almost every organization today, regardless of size, market, focus, and so on (Jaros, 2010).

All businesses are affected by a series of external forces or influences. These influences may also change over time and hence the way they interreact with an organisation can also change. Operations Management will use a variery of measurements to monitor external influences to help them respond to these changes, for example, at times of slow hire rates for employees in time of high employment, operation Management may re-train other internal staff to make up shortfalls [Kydos, P29].

Changes are necessary for every organization in order to survive from strong competition, although changes always follow risks, organization must properly handle the existing institution, some employee’s resistance, or the uncertainty reduction. “Organizations pursue to enhance their competitive positions and their adaptability in volatile markets. At the same time, they seek the uncertainty reduction and inimitable resources that stability can provide” (Leana & Barry,

In contrast with the past, banking industry is also popular sector due to its high profitability. Therefore, attracts many entrepreneurs

* The factors needing to consider was being able to create the production standards and operational efficiencies that would set high expectations so that changing the work for employees can demonstrate employee growth and the create a purpose that will bring greater rewards and incentives. The other factors are to figure out how the employees will be redesigned and have collaboration toward working together in learning the new skills and have team leaders have more involvement with guiding employees and having them vent out their concerns.

What you measure is what you get” – In the journal ‘The Balanced Scorecard – Measures that drive performance’ by renowned professors, Kaplan and Norton (1992), a new management system was introduced to a peripheral perspective economic industry. Past the industry era, traditional financial performance measures such as return-on-investment and earnings-per-share were deemed no longer competent in the ever-changing market. The view of focussing on either financial or non-financial perspectives alone were regarded as one-dimensional and ignorant of other crucial factors in both the company and the market.

The debt to credit ratio is the calculation of how much you are using the credit that is available to you. It is an indication of how heavily your finances lean on credit. This ratio accounts for 30% of your credit score. It is next to your payment history, which is 35%. An understanding of this ratio can help you improve your FICO score.

Case 2 is divided into two independent parts. You have to complete both parts.   Part 1: Case “Spice is right” (Hall, Chapter 4, Internal control case) (max 1-2 pages) Only point c (COSO), not a, b, and d. Part 2: Case “Vouch and Trace” (max 2-3 pages)

With this perception, the managers at the construction firm perceived the initiative as a costly one, which would not generate immediate benefits, but would increase costs and operational times. Then, aside from the resistance of managers, reticence to change was also observed at the level of the staff members. These had gotten accustomed to the way things were within the firm and were not willing to sacrifice the safety of their job by introducing new and uncertain variables.

Columbia Bank was started in 1927. It is the fourth largest mutual financial institution in the United Stated with over $4.7 billion in assets. Unlike commercial banks, mutual banks don’t have stockholders; anyone who makes a deposit ‘owns’ a portion of the bank. Columbia Bank is headquartered in Fair Lawn, New Jersey with 44 branches throughout New Jersey. Columbia Bank has “nearly 100,000 customers and nearly 200,000 loan and deposit accounts” (Allen, 2015).

The purpose of this case study is to describe and analyse the features of the management control system (MCS) of University of Southern California (USC). Before commencing the analysis a brief background of USC is provided.