Organizational Structure Paper

1253 WordsApr 2, 20126 Pages
MANAGEMENT THEORY AND PRACTICE 1 Management Theory and Practice MGMT/230 MANAGEMENT THEORY AND PRACTICE 2 Looking at the organizational function of management within the Bank of America Corporation. The Bank of America structure specifically relates to the physical assets and the monetary resources of the company and how financial realities can have a major impact on the management organization of any company. A matrix structure sets up teams from different departments, thereby creating two or more intersecting lines of authority. Also, matrix addresses issues that arise with the growth, diversification, productivity, and competitiveness in its structure. Matrix structures provide flexibility, enhanced…show more content…
The organizational structures and functions of any company, specified by management decisions will have an important effect upon the way that companies relate to their physical assets and monetary resources. Understanding the nature of the relationship between management structures and the two aforementioned business elements can reveal much about the way that the company is organized, its goals, and its expected market performance. Bank of America seems possessed of two, very nearly contradictory, management styles. On some level, this represents a transition for the corporation as it becomes larger and larger and must increasingly face the kind of problems only associated with corporations of its size. On the one hand, management at Bank of America seems to want to solve many of its problems; both legal and regulatory by simply throwing money at them. The chairperson and chief executive officer, Kenneth D. Lewis, has decided to resolve many of the company’s legal entanglements in this fashion to have them dealt with out of the public eye as quickly as possible (Boraks & Moyer, 2004). However, at the same time the Bank of America has spent considerable effort in expanding its physical assets through a series of mergers and acquisitions of other banking institutions, all the while cutting personnel to improve profit margins. Taken together these efforts (at

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