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Bank Of America Essay

971 words - 4 pages

Organizing Paper PAGE 1
Bank of AmericaBank of America is one of the biggest companies with a lot of employees. Bank of America was founded in 1874 known as the Nations Bank till its acquisition of a San Francisco-based Bank of America in which it assumed its current name.Bank of America is one of the leading financial companies in the world. When dealing with assets, it is the second largest. Bank of America has a profit of 31.61%. The factors that hurt the bank would be due to customers closing accounts without making the bank aware and making sure that they have a system in place for when they received checks written in large sums to be cleared. Another weakness would be holding on to the customers' direct deposit to cover debts that they may have. Also they have experienced problems with their online banking as well as human resource errors (Bank of America)In any organization the employees are the ones that are a major part of it. To accomplish their mission, Bank of America's Human Resource Department makes sure that the mission is accomplished. This is very important to accomplish because it makes sure that everyone has the same goal for the company. And one way of doing that is to treat your employees with respect.The Human Resource Department is the department that handles all of the administrative needs of the people in the organization. Its primary role is to implement the organization function of management, includes the performance of the recruitment of the manpower needs of the organization, design and conduct of manpower development, formulation of compensation and other benefits; implementation of safety and health issues and maintenance of employee and labor relations. It is basically the backbone of any organization.Organizational design is a structure that managers use to define work specialization and how it is to be carried out. Every organization typically starts out with a simple organizational structure, where toe roles of all the staff members are defined. In order for the organization to achieve its goals of the objectives, then the organization must follow the strategy that they have put in place. When designing an organizational structure, you have to determine what are the demands of the business environment (Roberts, 2004).Bank of America also tries to create a learning environment where all the employees have a chance to learn more about the company. This helps to take care of the training and development needs of the company.An organization should always be open and ready for changes, being that the economy is constantly changes. With that being said, the company's strategy must also be adapted to changes. Which may require that there are changes that may need to be made in the organization, where you may need to bring more experienced people in to work. Technology also plays a major part, because with technology and everything being computerized there is no need for a human body anymore, so downsizing could be a...

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