The Boston Office Of Campbell And Bailyn

Decent Essays

The Boston office of Campbell and Bailyn has seen success over the years but was struck by a collapse in the mortgage backed securities market for six months in 2007.
C&B realized a major issue the company was currently facing - lack knowledge on specific items being sold. This has resulted C&B’s to implement changes to minimizing their losses. In addition, adding on to the stress of the company the Boston office has restructured their organization, changing how the company has organized staff for years. In short, one of these changes was the creation of the key account teams (KAT Team). This has allowed change of the high paying generalist into specialist, so customers would be able to get better knowledge on their products. But in …show more content…

Therefore Winston should not be particularly (scared) that many of the employees are unhappy because in fact it is mix between poor timing and the company getting used to a change after 100 years of the same system, with that said there are still several issues that have to be addressed.

PROBLEM 1 (sales team not happy about structural change)
In 2006, your company was losing business to competitors due to lack of specialization. Therefore, the key accounts team was established so that the customers can have service from a more specialized employee. Even though the implementation of this change was essential, employees found that their career became more restricted and they are not as motivated and efficient due to reduced earnings. For instance, after putting your worker John Oates on the corporate debt desk as a specialist, he started to lose focus and was said to be looking for another job.

In order to have an efficient company, every employee should perform under a common vision. It is helpful to demonstrate to employees why the change is crucial by illustrating to them the reason your company is losing market share in the past year.

To achieve better outcome and more committed employees, the key account team members should receive more responsibilities and be seen as leaders in their specialization. By giving them recognition and responsibilities, they will be more motivated and take more risks. As shown in Appendix C, Job Enrichment is extremely beneficial

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