Rob Parson at Morgan Stanley: Case Study Quiz
Introduction:
The case discusses the situation at the U.S. multinational investment bank Morgan Stanley. The bank has recently introduced a new360-degree approach to evaluate the performances of its employees. The president of the bank has introduced this approach, the approach includes gathering data regarding all employee’s skills and abilities at work. This data is gathered as a form of feedback from the staff all over the company. The bank’s managing director (M.D.), Paul Nasr has been in charge of evaluating his employee’s performances based on the data gathered from this approach. (Burton, 1998)
Problem statement:
The problem in the case arises when Paul had to decide on the promotion of Rob Parson to the position of bank’s managing director. He has just been recruited by the company. The decision was tough to make because of the reason that Rob’s performance was good and he contributed well to the bank’s revenue but he was lacking in interpersonal, behavioral skills and leadership skills and his attitude towards other employees was bad and unprofessional. So Paul was wondering about the consequences of giving his charge to Rob.
Situational analysis:
The Decision?
Rob Parson performed very well for the bank and his contributions to the firm are appreciable because of his several services according to his position. He very effectively served and contributed to the firm’s profitability and reputation. Rob’s client history was very satisfactory and he was very good at dealing with multiple clients he can generate more business for the firm by having good relations with his overall clients. Earlier to the recruitment of Rob, the firm was not even among the top five companies of the industry but when Rob was hired he performed very hard and dedicatedly worked for the firm and he led the company to be ranked as a top company in the market.
Rob’s approach towards the firm’s market was very practical and he always come up with various effective and innovative strategies to provide solutions to the bank. He also had very good knowledge regarding his industry and skills to effectively and efficiently deal with clients. Rob proved to be very helpful towards the client, to the extent that if he had seen any client-facing problems, then these problems were being taken as challenges by him and he would perform with his maximum dedication to providing effective solutions for such issues. His problem-solving skills and dedication to performing well for his clients made him create good relations with the clients and spread his network globally.
But for a person being appointed to a leading authority, it is crucial to have leadership abilities besides good qualifications and knowledge. Based on the evaluation of the overall situation, granting promotion could not be a feasible step to take. Also, Paul’s decision could not be based on just the performance measures of Rob, instead, he must consider the leading factor and following the 360 approaches, overall staff’s feedback was against Rob. This is because Rob has always been involved in personal conflicts with his colleagues and the business’s performance is very likely to get affected by the friction among their relations. Hence the decision regarding the promotion must consider its consequences on the reputation of the firm, and if this promotion is leading to an increase in the firm’s internal conflict then it is better not to practice it.
If Rob’s promotion is postponed then this would brighten up the bank’s reputation in the market and this would also create a lesson among the company’s management that every employee would have to understand the importance of behaving good and respecting his workplace, if any employee is proved to be disrespectful towards it then he would not be considered for any respective authority. Soto get promoted at a certain position the employees including the management would try to put their maximum efforts and would try to communicate properly and respectively in the office premises. This approach would create effective communication in the firm and this would ultimately provide better scope for decision making. Besides this, the decision would also create a good image of the company in the market and would be treated as a benchmark standard that every comparable company would try to follow and comply with it.
Morgan Stanley is working under a very competitive industry implying that there exists instability, also the vacant position of the bank i.e. managing director, the bank needs to hire a person with effective leading abilities for which Rob is not the suitable option hence the company shouldn’t promote him.........
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