Morgan Stanley Becoming a One-Firm Firm

722 Words Nov 21st, 2013 3 Pages
Mack’s Strategic Intent
The time John Mack took over the leadership of Morgan Stanley the culture was riddled with tension and starting to affect the firm’s performance. The firm’s divisions operated independently and there was internal conflict between business units, with each focusing on their sole profit maximization & loss limitations. Concurrently, even as Morgan Stanley was expanding its operations globally, the firm’s performance dropped due to delayed decision making and bitter battles over resources. Morgan Stanley was lacking from strong divisional focus, lack of future leaders, and poor career development & haphazard performance evaluation which resulted in employee dissatisfaction with promotion procedures and
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* Self-Assessment – This was an important development tool as it enabled employees to reflect on their performance, which was incorporated into the final evaluation. * Explicit Evaluation Criteria – Four broad criteria were identified (market/professional skills, management & leadership, comment orientation and teamwork/one firm contribution) which could be applied firm wide and tailored to the divisions specifications. The evaluators forms were open-ended and asked for specific information, the performance criteria also got increasingly rigorous as one move up in the organizational hierarchy. * High Quality Data and an Evaluation Director Managing Process – The evaluation forms were collected and consolidated into a document which was then summarized by the evaluation director. This evaluation & development summary although time consuming was very important as employees only saw the summary and a lot of time their promotion and compensation depended on them.
Critic of the New 360o Evaluation System (ES)
Pros:
* The ES provided a high integration of all employees, as it enhanced the feeling of ownership and improved the communication / respect…