Outline and Analyze the Challenges Facing Mellon Investor Services in Their Organizational Redesign and Assess How Well the Company Have Dealt with Those Challenges in How They Are Approaching and Managing the Change.
Assignment Task
Outline and analyze the challenges facing Mellon Investor Services in their organizational redesign and assess how well the company have dealt with those challenges in how they are approaching and managing the change.
Delong, T. and Vijayaraghavan, V. (2002) Mellon Investor Services (ECCH case reference 9-402-036, Harvard Business School)
Introduction
Mellon Investor Services (“MIS”) is an investment management and investment services company, focused to help clients manage and move their financial assets and succeed in the rapidly changing global marketplace. Between 2000 and 2001 MIS underwent a substantial organizational redesign, which will be critically considered in this essay. Wittington and Mayer (2002) suggest that organizational performance is driven by the company’s ability to redesign structures frequently, however the change requires participation of people leading the change i.e. agents, organizational structure that welcomes the change and appropriate managements styles.
The Chief Financial Officer of MIS, Jim Aramanda led the company for few very successful years, during which MIS was providing new offerings for transfer agent services including issue services, employee plans and direct services, broker / dealer services. The company had five years of successful growth and MIS was meeting and exceeding its financial goals.
In Autumn of 2002 Aramanda’s became concerned for the successful future of the company and he recognised few areas that required closer attention:
• different business units were not consolidating their offerings and taking advantage of various products, which resulted in two Requests For Proposal coming from one client whereby both RFPs were replied to separately, as opposed to a combined and unified response,
• current successful offering of core products did not guarantee that MIS would grow in future,
• MIS staff were not building long-term relationship with the clients therefore
Outline and analyze the challenges facing Mellon Investor Services in their organizational redesign and assess how well the company have dealt with those challenges in how they are approaching and managing the change.
Delong, T. and Vijayaraghavan, V. (2002) Mellon Investor Services (ECCH case reference 9-402-036, Harvard Business School)
Introduction
Mellon Investor Services (“MIS”) is an investment management and investment services company, focused to help clients manage and move their financial assets and succeed in the rapidly changing global marketplace. Between 2000 and 2001 MIS underwent a substantial organizational redesign, which will be critically considered in this essay. Wittington and Mayer (2002) suggest that organizational performance is driven by the company’s ability to redesign structures frequently, however the change requires participation of people leading the change i.e. agents, organizational structure that welcomes the change and appropriate managements styles.
The Chief Financial Officer of MIS, Jim Aramanda led the company for few very successful years, during which MIS was providing new offerings for transfer agent services including issue services, employee plans and direct services, broker / dealer services. The company had five years of successful growth and MIS was meeting and exceeding its financial goals.
In Autumn of 2002 Aramanda’s became concerned for the successful future of the company and he recognised few areas that required closer attention:
• different business units were not consolidating their offerings and taking advantage of various products, which resulted in two Requests For Proposal coming from one client whereby both RFPs were replied to separately, as opposed to a combined and unified response,
• current successful offering of core products did not guarantee that MIS would grow in future,
• MIS staff were not building long-term relationship with the clients therefore