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Organizational Planning Essay

689 words - 3 pages

Organizational Planning - JPMorgan Chase &Co

Strategic Goal

A strategic goal of JPMorgan Chase & Co. is to help with the job market by ensuring staff is trained and experienced to be successful with their work and be ready for future jobs. According to “Jpmorgan Chase” (2014), Helping people develop the skills they need to compete for today's jobs can transform lives and strengthen economies”(New Skills at Work). Chase recognizes that not all employees will stay with the firm for their entire career, and when they leave the company they will be consumers in the marketplace. In addition, for the current employees they are servicing the customers and impacting today and tomorrow’s ...view middle of the document...

An operational goal of JPMorgan Chase & Co. is assisting homeowners with getting out of default. According to “Chase” (2014), “As part of our recent settlement with the Department of Justice, we are providing approximately $4 billion in relief to our customers” (2013 Mortgage Relief Settlement). In order for this to happen, JPMorgan Chase has to make strategic decisions and processes to have this process run quickly for the homeowner, while benefitting the customer and finding the right solution.

Effects on Stakeholders

Just as the strategic goal has an effect on both internal and external stakeholders, the operational goal of assisting homeowners with the delinquency has the same outcome. According to Setzer (2012), “the average foreclosure costs $77,935 while preventing a foreclosure runs $3,300” (para. 3). Finding an alternative to foreclosure allows JPMorgan Chase & Co. to lower costs for the institution, help the economy with homeowners staying in their home with affordable options while creating jobs for consumers. In addition to these effects, the community also sees the financial institution as an assistance opportunity instead of the large bank that foreclosed on their home. Not all customers can avoid...

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