...The Firmwide 360˚ Performance Evaluation Process at Morgan Stanley Case study Team no.2: Jana Baková Júlia Birčáková Eva Flaková Tomáš Szabo Martin Valdner 5th December 2005 CONTENTS The Firmwide 360˚ Performance Evaluation Process at Morgan Stanley 1 CONTENTS 2 Introduction 3 What is the 360˚ Performance Evaluation Process? 3 What is the problem? 5 Evaluation Criteria 5 Telling the truth / how to achieve correctness of the questionnaires? 5 Fighting for points 6 Possible solutions for our problems 7 Problem no. 1 – how to set evaluation criteria 7 Problem no. 2 – Telling the truth / how to achieve correctness of the questionnaires? 8 Problem no. 3 – Fighting for points 9 Conclusion 10 Introduction Morgan Stanley (MS) is a leading U.S. investment bank. It was founded in New York on the 5th September 1935 by Henry S. Morgan, and Harold Stanley. Since its inception it was transforming itself into a “One-firm company” under the leadership of John Mack (the president of Morgan Stanley since 1993). Morgan Stanley changed the presentation of itself towards its clients in a more unified way. Employees have become the main source that helps Morgan Stanley to achieve it. Organizations are changing fast - diversity is valued as a critical component of a business environment that encourages new and innovative approaches to accomplishing organization’s mission. Morgan Stanley has a target to be the best investment bank...
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...Captain Morgan The question is not if Captain Morgan will be remembered, but how he will be remembered. I never got to meet the man, just hear the legend of him from my great grandfather who was just a child when Captain Morgan passed away. He heard all of the tales Captain Morgan embarked on from his grandfather, who was one of his closest friends. There are few unaware of Captain Morgan’s escapades on the island of Jamaica, but there are none that know his life quite like I, Andrew Modyford, do. Unfortunately, most just remember the man that was described as a blood thirty, ruthless pirate in the biography by Alexandre Exquemelin. Morgan was many things, but he was not blood thirsty. As a devout Anglican, murdering and raping was not something he felt was appropriate. There were of course rumors of such behavior, but such fabrication is expected to increase the novelty of his already famous persona. Morgan was in fact a kind hearted, spiritual man that few took the time to know. All who came across him wished only to hear of his stories and admire his success, not discover who the man was. Morgan is most remembered for his victory in Panama in which he led over 2000 pirates on 36 ships across the treacherous oceans to Panama. Conquering the waters was nothing new for Morgan, but the 16 miles of jungle he marched through to defeat the 2000 waiting Spaniards was something of a new experience, a challenge he revered. This momentous event overshadows some of the...
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...always has two reasons for doing anything: a good reason and the real reason.” – J.P. Morgan J.. Morgan Attention To The Detail Contents Origin 1 EARLY YEARS AND FAMILY 2 Forcasting 2 political parties 3 buying property 4 Cash Consolidation 5 Origin JP Morgan is one of the most powerful bankers of his time. J.P. (John Pierpont) Morgan, who died in 1913. He financed railroads and helped organize U.S. Steel, General Electric and other major corporations during his time. He did alot and hadrto go threw a lot as well. The Connecticut native followed his wealthy father into the banking business in the late 1850s, and in 1871 formed a partnership with Philadelphia banker Anthony Drexel. His family was already established. He just added his way of doing thing when his time came along. In 1895, the firm was reorganized as J.P. Morgan & Company. Morgan used his powerful influence to help level out American financial markets during several economic crises. However, he faced criticism that he had too much power and was accused of manipulating the nation’s financial system for his own gain. I am not sure what he had to gain from doing so. He was already established and famous. Morgan spent a large portion of his wealth amassing a vast art collection. I see it as having a hobby that can generate a great profit the older it gets. EARLY YEARS AND FAMILY John Pierpont Morgan was born into a well known family from New England on April 17, 1837, in Hartford, Connecticut...
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...PROFILE OF PIERS MORGAN 1.0 INTRODUCTION I have chosen to focus on the PRINT MEDIA industry of Mass Communication. This choice has been carefully picked because I am hoping to build a career as an accomplished writer in the print media industry in the next few years.As Coles (2013) said, the place of learning from older experienced professionals cannot be over-emphasized especially in journalism profession. The case study of PIERS MORGAN, as a successful journalist will be looked at with the aim of learning how to enter, grow and succeed in the challenging print media industry while also drawing out useful lessons from his over 26-years career (Herbert 2012). Journalism for this Harlow College alumnus began in 1980 at the age of 15 when he wrote an article about his local area cricket trip to Malta, earning him his first pay of £15 (thisismoney, 2011). This illustrates that it is vital for would-be print journalists to match their interest with corresponding action(s) early enough. This early start no doubt helped him to quickly become established in the profession while working as a reporter for The Wimbledon News and on The Sun in 1989 where he edited entertaining stories. As a reporter right from his days in the South London Press, Morgan had the dexterity of getting to make his interviewees talk even when they do not want to. This fact was corroborated by John Mulcaster, one-time associate editor of Sutton Herald, cited in Herbert (2012) as saying that he Morgan has a way of...
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...Morgan Stanley, founded in 1935, grew over the course of its first 55 years in business to become one of the largest investment banks in the world. With over $3 billion in revenue and 7,000 employees spread across 18 global locations, the firm was a powerhouse in the global financial industry. A job at Morgan Stanley was one of the most recognized resume builders and after spending a few years of one’s career at the firm, the opportunities available were often endless. However, in the early 90’s Morgan Stanley found itself stuck in a corporate culture stemming back to the 40’s and 50’s, with a narrow development program that revolved around an employee’s ability to add to the top and bottom line. Bring in the revenue, and life was good. Consistently fail to show numbers, and start packing your things. In 1992 management began to take a critical look at the current performance appraisal system. As competing firms in addition to the general business environment progressing with development and training programs, it was obvious to high-level executives at Morgan Stanley that the firm was lagging behind in its ability to develop talent sustainably. Numbers were growing, but the firm was missing out on numerous opportunities and even jeopardizing its future by not giving its employees the opportunities and treatment they sought. The current appraisal system was dealt with in an open forum, with groups coming together as a team and orally presenting their opinions on newer employees...
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...Morgan Motor Company An analysis on Internal and external environment i|Page Table of Contents Executive Summary .................................................................................................................. iii 1.0 Current Situation.................................................................................................................. 1 1.1 Current condition ............................................................................................................. 2 1.2 Strategic Posture .............................................................................................................. 2 2.0 Corporate Governance......................................................................................................... 6 2.1 Board of Directors............................................................................................................ 7 2.2 Top Management ............................................................................................................. 9 3.0 External Environment: Opportunities and Threats ............................................................ 11 3.1 Physical Environment: Raw Material ............................................................................ 12 3.2 Societal Environment ..................................................................................................... 14 3.3 Task Environment .............................................................
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...J.P. Morgan John Pierpont Morgan is one of the most famous financiers in business history. Plenty of controversy has surrounded Morgan on whether his business strategies were for better or for worse. A robber baron is considered, “an American capitalist of the latter part of the 19th century who became wealthy through exploitation”. Morgan was just that. J.P. Morgan was a robber baron not only because he possessed a lot of power that wasn’t meant to be his, but he also revealed the fragility of the financial system. J.P. Morgan was born into wealth. At the age of 20, Morgan followed in his father’s footsteps into the world of business and banking. He began working in a London branch of the banking firm Peabody, Morgan & Co. This firm was formed by a partnership between his father Junius Spencer Morgan and George Peabody. Morgan was heavily involved in reorganizing several financially troubled railroad companies. Gradually, he gained control of portions of these railroads’ stock. Morgan bought Andrew Carnegie’s steel company and gained power over 2/3 of the steel industry and created a monopoly out of it. Morgan was the main force behind many businesses and controlled most of the American industries. When his bank was founded it was under the partnership with Anthony Drexel. The bank which was originally named Drexel, Morgan & Co., was later changed to J.P. Morgan & Co. His bank was the first national bank before the Federal Reserve existed. This bank was the site...
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...FI730 Group Report Financial Institution Analysis 1. Introduction 1.1 JP Morgan & Chase, Co. JP Morgan & Chase, Co., incorporated under Delaware law in 1968, is now one of the oldest and most influential financial institutions in the world. As of December 31, 2013, the firm’s net assets and stockholders’ equity amounted $2.4 trillion and $211.2 billion, respectively. Currently, the firm is the leading banking institution in various business segments that include investment banking, commercial banking, asset management, private equity, and financial services for small businesses and individuals. JP Morgan & Chase, Co. offers financial services through its subsidiaries, divided between principal bank and nonbank subsidiaries. Its principal bank subsidiaries are JPMorgan Chase Bank and Chase Bank USA, which the former, has branches in 23 U.S. states, and the latter, the Firm’s credit card-issuing bank. JP Morgan & Chase, Co.’s nonbank subsidiary is J.P. Morgan Securities LLC (hereinafter referred as JPMorgan Securities), which is the Firm’s investment banking subsidiary in the U.S. Both the bank and nonbank subsidiaries operate domestically and overseas. One of the principal subsidiaries oversea in the United Kingdom (hereinafter referred as U.K.) is called the J.P. Morgan Securities plc, a company that is wholly owned by JPMorgan Chase Bank, N.A. For reporting purposes, JP Morgan & Chase, Co.’s business activities are grouped under four business segments...
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...A Morgan Stanley Case Study Operating Globally Through Technology Course: MGMT420 STRATEGIC MODELING Crn: 29022 Group Members: Nicole Blenman Mark Hamel-Smith Allison Joseph Cynthia Kennedy Kelly Singh Lecturer: Ms. Kinda McGowan April 18, 2015 Introduction Morgan Stanley was founded as an investment bank in New York in 1935, it has evolved into one of the world’s foremost financial institutions, with more than 45,000 employees on six continents. Though headquartered in the U.S., they are a leader in the integration of financial services around the world. As technology links them closer together the firm is in a unique position to address the increasingly global needs of their clients. Morgan Stanley mobilizes capital to help governments, corporations, institutions and individuals around the world achieve their financial goals. ▪ As a global bank it provides: Investment banking advice on mergers and acquisitions, financial restructuring and privatisation. ▪ Major underwriter of stocks and bonds and provides research, sales and trading services in almost every type of financial instrument. ▪ Manages private partnerships that invest in venture capital, property and other private equity opportunities. ▪ Provides other related products and financial services, including credit cards. At its foundation are four core values — putting clients first...
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...Morgan Stanley, a leading U.S. Investment Bank, was attempting to transform its work environment to one that fosters teamwork but promotes innovation as well. This vision was developed under the leadership of the new president John Mack and his executive team. President Mack was looking for people to “shake up the culture.” With heavy resistance, he recruited Paul Nasr to be the Senior Managing Director in Capital Market Services. Paul was a highly regarded banker with over twenty years of experience. He knew that one of Morgan Stanley’s weak areas was Capital Market Services, an area where he had been successful in the past. Paul also knew that it would take more than a traditional corporate banker to penetrate this market. The Capital Markets Services(CMS) division, which has established as an interdisciplinary concern to address the issues of focused client attention and cross-divisional collaboration, required professionals who not only had domain specific industry knowledge but were also skilled at responding to client needs by designing products in collaboration with product specialists within Morgan Stanley. Market coverage professional to be compatible with the staff of other departments, but can't rely entirely on product designers, because they do not understand markets and customers, do not know the customer's needs. It is important to fully understand the market, product, and customer information in three areas and needs. That person must be energetic, aggressive and...
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...Morgan Stanley, a leading U.S. Investment Bank, was attempting to transform it’s work environment to one that fosters teamwork but promotes innovation as well. This vision was developed under the leadership of the new president John Mack and his executive team. President Mack was looking for people to “shake up the culture.” With heavy resistance, he recruited Paul Nasr to be the Senior Managing Director in Capital Market Services. Paul was a highly regarded banker with over twenty (20) years of experience. He knew that one of Morgan Stanley’s weak areas was Capital Market Services, an area where he had been successful in the past. Paul also knew that it would take more than a traditional corporate banker to penetrate this market. That person must be energetic, aggressive and innovative. That’s why he recruited Rob Parson. Rob developed relationships with the important players in the banking and insurance industries and a strong reputation. Rob is not easily discouraged or intimidated and knows what it takes to get the job done. His drive and ambition allows him to connect with his clients but sometimes distances him from his co-workers. The position that Paul needed to fill was difficult to perform and had a very high turnover rate. He thought that Rob was the perfect person to fill that billet. Rob accepted the position with the understanding that there was a potential for growth because the effort was in need of repair and that the Morgan Stanley had done very little business...
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...Morgan Stanley (MS) * Describe the nature of this company’s business according to the Annual Report. Morgan Stanley is a financial services holding company that operates on a global basis through its subsidiaries and affiliates to maintain a competitive market position within its business segments. The three segments MS primarily positions itself in are the following: Institutional Securities, Global Wealth Management Group, and Asset Management. MS provides these services to a wide and varying client base consisting of governments, individuals, and almost everything in between. (p 50) * Was that description of business in line with what you thought the company’s main business was before reading the MD&A? Yes, it was in line with what I thought MS, and their subsidiaries business interests were involved with. I was however unaware that the Global Wealth Management Group position of MS made up 65% of the company’s operating interest. * List five positive events (outcomes) mentioned in the MD&A. What is the source of/reasons for these positive things? Were those things good/positive due to management’s effort or due to external factors? In other words, who should/did take credit for these good things? 1. Morgan Stanley’s DVA income increased from 2011 to 2012 by $721 million. This can be considered a positive event because the decrease in the company’s liabilities is in a sense, a source of profit. (p 58) 2. Global Wealth Management Group...
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...1.Evaluate the effectiveness of the Morgan Stanley performance assessment and mgmt system. The strategic goal at Morgan Stanley is to transform the company’s work environment into one that promotes teamwork, innovation and absolute integrity. In order to achieve this goal, President John Mack and his executive team recognized that a culture change in the way staff were evaluated and compensated would be necessary. They instituted a 360-degree performance evaluation system two years ago allowing professionals in the firm to be evaluated by superiors, subordinates and peers. According to the textbook, the advantages of such a system are numerous when compared to traditional assessment systems. The authors state that “supervisors, peers, subordinates and employees themselves differ in their ability to appraise various dimensions of performance” and that “these raters observe different behaviors and may interpret them with divergent standards.” Therefore, the purpose of 360-degree feedback is to give staff a better understanding of their strengths and weaknesses which, in turn, allows them to better identify aspects of their work needing professional development. The fact that Morgan Stanley introduced a 360-degree performance assessment tool is commendable. However, the effectiveness of this tool in its current state has not yet been optimized. In particular, the company’s vision statement appears to be very solid as it clearly articulates how employee abilities should...
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...Fleshmarket By Nicola Morgan The theme of obsession is important in the novel ‘‘Fleshmarket’’ by Nicola Morgan. ------------------------------------------------- ‘‘Fleshmarket’’ is set in Edinburgh in 1828. Two of the main characters are Robbie and Essie who are brother and sister. They live in an awful, poverty stricken environment in the old town after everything changed when their mother died at the hands of Doctor Robert Knox. Robbie Blames Knox for his horrible life and suffering as he believes Knox has not suffered yet and he took away the good life Robbie nearly had before Knox operated on his mum and this leads to his deep obsession with Knox. Robbie’s obsession begins when he is outside the lecture theatre and inside his mum is getting her operation ‘‘He had felt her pain as though it was his, it had burnt him and left its mark.’’ This suggests that Robbie suffered too and he is scarred by hat his mum had to endure emotionally and permanently. When she gets home she is told to rest but on the fourth day Robbie witnesses his mum in hallucinating and in pain ‘‘she did not recognise her trembling son with his eyes so wide and wet. She threw her sweat-soaked blankets off, rattled with bone-deep cold, screamed at the snakes, writhing before her eyes, vomited, clawed, moaning at the blackening rash that crept over her body.’’ This shows that Robbie is so scared and worried at his mum hallucinating and fighting infection due to the operation Knox preformed and this is the...
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...Paul Nasr, a senior MD in Capital Market Services at Morgan Stanley (hereafter referred to as MS) is facing the challenging question of how to effectively handle Parson’s annual performance review without creating a vacancy in an irreplaceable area that was difficult to perform and had seen a tremendous amount of turnover at MS. Nasr had the fear of losing Parson, his valuable employee and a star producer if he was not promoted to Managing Director as promised by Nasr during his hiring. Rob Parson, Principal, Capital Market Services (CMS) had played a critical role in making significant gains in building MS’s revenue and reputation. Parson was an outstanding individual contributor, who in his sincere, relentless attempt to generate more business, had created a hostile environment around him by going against the norms and culture of the organization. MS’s environment and mission statement was of teamwork, innovation, building consensus and treating employees with dignity and respect. However, there was no formal training for new employees regarding MS’s culture, expectations and performance evaluation (PE) process. Next, there were several biases and blind spots in the PE process. The 360° performance evaluation appeared to be a very shallow process, and there was no consensus on how to implement a decision based on PE and how to use the PE under various circumstances. Instructions and training on how to make effective performance assessment was not provided to the managers...
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