...Rob Parson at Morgan Stanley Rob Parson was a market coverage professional in the Capital Markets division. He had been hired by Paul Nasr and had generated substantial revenues since joining the firm. Unfortunately, Parson's reviews from the 360º feedback said that he was having difficulty adapting to the firm's culture. So Nasr faces the difficult decision to promote Parson to Managing Director. Nasr must complete Parson's performance evaluation summary and conduct Parson's performance review. Question 1 What are the advantages and disadvantages of the 360º feedback system at Morgan Stanley? When John Mack became President of Morgan Stanley in 1993, he brought a new vision to the bank named “One-Firm Firm”. That vision focused on performance which can be translated in creating value for the clients, the employees and the shareholders. Mack thought that could only be achieved through a culture that promoted teamwork and innovation and never sacrificed the firm’s integrity. The 360º performance evaluation process was brought by Mack to Morgan Stanley with the intention to “encourage employees to conform to a new way of doing business that emphasized team-work, cooperation, and cross-selling”. It also intended to “provide comprehensive development feedback so that employees could continue to improve their skills in four areas: Market/Professional skills, Management and Leadership effectiveness; commercial Orientation; and Teamwork/One Firm Contribution”. These...
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...collaboration with product specialists within Morgan Stanley. It was these requirements that led to the appointment of Rob Parson, a managing director at a smaller firm with connections to some of the important players in the banking and insurance industries, as a market coverage professional The financial services industry is characterized by firms where individual professionals attract business and the ability of the firm to retain clients is solely dependent on the entrepreneurial skills of professionals. Thus, in a market typified by clients demanding immediate solutions, Morgan Stanley’s attempt at creating a consensus-based interface can be seen as a process projecting the firm – and not the individual – as the business facilitator; this necessitates the appointment of skilled executives who not only possess the ability to market and sell but also display the willingness to obtain approval through franchise and collaboration. The nature of Rob Parson’s responsibilities, though challenging, involved resurrecting Morgan Stanley’s capital markets’ business and had witnessed a high turnover rate in the past. This position within the CMS division not only requires a conceptual understanding of investment banking procedures, but also mandates an ability to create business opportunities through persuasion and negotiation, in addition to sensitivity to client objectives. Rob Parson, despite his unconventional education, has been acknowledged for his ability to interface with clients and...
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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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...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 innovative. It was these requirements that led to the appointment of Rob Parson, a managing director at a smaller firm with connections to some of the players in banking and insurance industries, as market coverage professional. 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...
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...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 in Capital Markets. Paul implicitly promised Rob a promotion to managing director during recruitment. Rob never thought that he would have to tip-toe on egg shells when dealing with co-workers. The new president wanted people who could shake things up and Rob had been successful in bringing Morgan Stanley into this Market. However, it seemed that he has created some animosity among his peers....
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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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...MGT-500 Leading people and Organizations Case write-up Taran Swan at Nickelodeon, Latin America By: Sher Khan Nassery ID: 003757 March 10, 2015 Summary of the Case: This case is about “Nickelodeon” an American Cable Channel for kids with an intention to launch its new branch in Latin America. Nickelodeon was launched in the United States in 1979. The establisher of Latin America’s branch was Ms. Taran Swan the Nickelodeon’s managing director. Ms. Swan had served as Launch Director and General Manager of Nickelodeon in Latin America since its inception in 1998. More specifically in this case, we read about the challenges that Ms. Swan had faced while launching the Latin America’s branch. We have also discussed about her leadership style and how she had managed the team through decisions she made and the subsequent results as part of her leadership in the Nickelodeon. Questions and Answer: 1- Describe the culture at Nickelodeon Latin America. Be specific. In Nickelodeon, the work environment is very comfortable where employees do not hesitate to share ideas and critique each other. All employees in Nickelodeon feel themselves responsible in a self-driven way. They appear to be creative and goal oriented who can find solutions to any problems that may occur. Application of different guidelines through established focus groups in order to strengthen the high energy work culture, high accountability, reliable and effective communication system including the sense of responsibility...
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...recruits was Paul Nasr, very highly regarded baker, with more than 20 years of experience. He was placed to be senior manager to a newly created Capital Market Services department. Nasr has already experience with this kind of services, and Morgan Stanley was lacking behind other similar competitor banks. After acquiring the job, John Mack started creating his team for increasing the market share of Stanley Morgan which obviously was a major goal for the firm. To achieve that goal, he needed energetic, aggressive and employees who are not afraid to pursuit customers and develop a long term relationship with them. With clearly set attributes for the job position, he recruited Rob Parsons, a young baker that already worked for him in the commercial bank. He was positioned as market coverage professional. Parsons even with his two years of experience had already developed a strong relationship with some very important players inside the banking and insurance industries, and surely was not lacking reputation among the banking world. From the start of his job at Morgan Stanley he gained...
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...1. Evaluate the effectiveness of the Morgan Stanley performance assessment and management system. The primary source of performance assessment at the firm is a multi-source 360 degree feedback tool. The secondary source is an employee’s self assessment. There are a number of issues as to why the primary tool is not effective in truly assessing the performance of an employee at Morgan Stanley. The first issue surrounds the reliability of the raters in the 360 degree process. The raters are from the Capital Markets group and other groups within the firm with little definition if the raters are all at the same organizational level. This calls into question inter-rater reliability as reliability tends to be low when the raters are not from the same level. The second issue is one of freedom from bias. As the 360 degree feedback tool is highly subjective with regard to the comments it records, it does not address how a manager would assess either leniency or severity errors within the comments. Each of the raters may experience peak-end utility at the time they provide their comments. Unfortunately, this clouds their commentary. Instead of focusing comments on their complete experience with an employee, they may focus only on their last experience. A third issue involves the employee assessment tool. It vaguely addresses the concepts of goal-setting and employee development. In its current form, the tool is mainly used for administrative purposes (promotion and compensation)...
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...Rob Parson at Morgan Stanley Performance Evaluation Process Write Up What is your assessment of Rob Parson’s performance? Should he be promoted? You can’t make an omelet without breaking an egg….This seems to be the Rob Parson approach to handling business. While there is certainly no denying that Parson is unparalleled in his ability to deliver results; his overall demeanor and approach to others contradict everything that Morgan Stanley is trying to stand for. Morgan Stanley aims to establish an environment that fosters teamwork and innovation. Parson has certainly succeeded in the latter of the two helping Morgan Stanley move from the tenth ranked position to third and expanding the market share from 2% to 12.2%. Despite these results, Parson’s actions compromise the internal culture of Morgan Stanley. Being described as “cocky”, “abrasive”, and “volatile” are words that aren’t typically associated with somebody meriting a promotion. With a promotion comes further unchecked power. There has to be real trepidation with the notion of giving somebody who has already created a “hostile environment” in his current capacity. If Morgan Stanley was merely a results based company then Parson should be promoted. But Morgan Stanley has explicitly highlighted and placed an emphasis on consensus, interpersonal teamwork, and treating each other with dignity and respect. Parson’s fundamental failure to coexist with in the guidelines of Morgan Stanley make him a poor candidate...
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...Chapter 5 SUMMARY OF FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS Summary of Findings This study was conducted to primarily assess high school students’ view of the school counselor’s role. This chapter will describe the research questions, sample, instrument, setting, and data analysis employed in the study. 1. How did the participants perceive the importance of school counselor roles in terms of academic success? By the use of the data gathered from the questionnaires answered by the participants, the results perceived that the role of assisting students in special education service and encouraging them to choose challenging are important. So is the function of helping the students with any personal problems and cooperating with teachers, parents, and principal was viewed as an important responsibility to support students do well in school. While starting programs to help students excel in school was given an impression as less important. This implies that students seek supervision from their school counselor when they are having difficulty in academics. 2. How did the participants perceive the importance of school counselor roles in terms of career development? In the category of the counselor’s job in the career development of students, the data gave an outcome that bringing local business people in the school to help students learn about jobs and careers...
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...Divya Srivastava THE ROLE OF THE SCHOOL COUNSELLOR School counselling is a branch of applied psychology that deals with problems or behaviours that interfere with the academic progress or social acceptance of children in the school system. School counsellors assess cognitive functioning and identify mental retardation, giftedness, developmental delays, instructional difficulties, and learning disabilities. They recommend educational programs; assess behavioural and emotional problems, and support parents and teachers. They also deal with the full spectrum of social problems including family violence, peer interactions, substance abuse, sexual abuse, neglect and the influences of these problems on school functioning. School counsellors act as a screening and referral resource for a wide range of medical, social, and emotional disorders that interfere with academic functioning. In general, school counsellors study behaviour, protect and promote mental health, and apply the principles of psychology to improve school adjustment and learning. Specific services, however, depend on the competencies of the school counsellor and the needs of the particular school system being served (Koe, 1991). For instance, the school where I was placed for my field-work had a school counsellor who also had to fulfil the role of a special educator and a remedial teacher as and when the need arose. School counsellors are employed for the purpose of providing specialized support for students with exceptional...
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...Intro With Country Music’s rise in popularity, it is important to note some of the most relevant changes in the music being produced in the genre. This industry is relatively new to the music scene and only began in the 1920s. Since its debut in the music world, Country Music has changed throughout the decades and evolved into what is now known as, “Sixth Generation” Country Music. The most noted difference, becoming more apparent as the genre has progressed, is the themes in the music. Country Music is most famous for telling stories of faith, patriotism, love, sorrow, and of the common workingman. However, the genre is seeing a change in the recent music being produced. It is becoming apparent that lyricists are moving away from the traditional themes of Country Music and introducing its new style, called, “Bro-Country.” This style is defined as contatining lyrics about pretty girls, trucks, beer, alcohol that leads to sex, and scantly dressed women. According to Neff, “…objectification, was the main form of sexism in country music.” According to Rogers, “Most people would assume that country is less sexist or has the least detrimental type of sexism within its lyrical content. However, one might also argue that it is more dangerous when sexism is buried within the lyrics. People might think this is “quality” music on the surface and really take the lyrics seriously. The idea that this is wholesome music is really what makes it necessary to study the...
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...shaped many countries around the globe. This is one reason you see such diverse communities everywhere you go. Immigration is the one of the reasons why it is so critical for companies to build diversity programs to ensure they reach the different demographics in these communities and around the globe. Diversity is the key to success for companies today. It would seem that the companies that build successful diversity programs end up doing very well. This paper will discuss three different leaders that we able to make significant changes in diversity within their companies. These changes proved to be the key to success. First we will discuss Louis Gerstner and the changes that he made during his time at IBM, next we will discuss Richard Parsons and the changes that he made during his time with Time Warner, and lastly we will discuss Steve Reinemund and the changes that he made while he was with PespiCo. Now lets discuss at the leadership of Louis Gerstner. Louis Gerstner graduated with a Bachelors Degree from Dartmouth College and then Harvard Business School with a Masters Degree. Later he worked as an executive for RJR Nabisco, McKinsey & Company, and American Express. Gerstner was known for his progressive management practices for civil rights and equal employment before IBM hired him. He was hired as CEO of IBM in 1993. When Gerstner arrived at IBM, he brought three of his personal experiences to assist his efforts in the turnaround of IBM, Davidson (2003). He brought...
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...The bucket list The Bucket List; what can I say? The Bucket List is a movie starring Morgan Freeman and Jack Nicholson about the exploits in life they never got to accomplish and set out to do so after discovering they were going to die. It is an interesting take on death and how to deal with death. It shows many different viewpoints on the subject of death not just from the view of Edward (Nicholson) or Carter (Freeman.) This movie really makes you think about how you live your life. The Bucket List was considered one of the most uplifting movies of the year. These men both view death in different ways. Carter in the beginning accepted death; if he did not accept death yet the movie would have been over fairly quick. You can tell he accepted death because he started writing his bucket list as a metaphorical contract that states he has given his life and is ready to die. However towards the end of the movie it seems Carter has no longer accepted death because he refuses to go back home to his family after starting the list. I think he feels this way because he thinks when he gives up on the list that will signify the end. Edward in the beginning does not accept death he refuses to deal with funeral arrangements and the passing down of his possessions. Towards the end Edward realizes that his life has been fulfilled not from completing the list but truly finding a lifelong friend in Carter. It makes you wonder how different these men’s lives would be if they were not to meet...
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